[
  {
    "input": "As grocery customers regularly visit the store, they are continually exposed to the firm's higher margin offerings, spurring lucrative general merchandise sales.",
    "output": "[Cause] grocery customers regularly visit the store [Relation] cause [Effect] they are continually exposed to the firm's higher margin offerings",
    "gold": "[Cause] hey are continually exposed to the firm's higher margin offerings [Relation] cause [Effect] spurring lucrative general merchandise sales",
    "valid": false
  },
  {
    "input": "Nevertheless, with voices amplified through structural shifts like the rise of digital media, consumers have more agency than ever: if they want LaCroix (or any other National Beverage brand), retailers eventually have to oblige.",
    "output": "[Cause] structural shifts like the rise of digital media, consumers have more agency than ever [Relation] cause [Effect] consumers have to oblige retailers to carry their preferred brands, such as LaCroix",
    "gold": "[Cause] voices amplified through structural shifts [Relation] cause [Effect] consumers have more agency",
    "valid": false
  },
  {
    "input": "Steadily rising Internet access pricing is a key element of our belief that Altice USA can maintain revenue per customer and cash flow as fewer customers take television and telephone services.",
    "output": "[Cause] Steadily rising Internet access pricing [Relation] enable [Effect] Altice USA can maintain revenue per customer and cash flow",
    "gold": "[Cause] Steadily rising Internet access pricing [Relation] enable [Effect] Altice USA can maintain revenue per customer and cash flow",
    "valid": true
  },
  {
    "input": "Steadily rising Internet access pricing is a key element of our belief that Altice USA can maintain revenue per customer and cash flow as fewer customers take television and telephone services.",
    "output": "[Cause] Steadily rising Internet access pricing [Relation] enable [Effect] Altice USA can maintain revenue per customer and cash flow as fewer customers take television and telephone services",
    "gold": "[Cause] fewer customers take television and telephone services [Relation] cause [Effect] Steadily rising Internet access pricing",
    "valid": false
  },
  {
    "input": "In our view, Akamai's biggest environmental, social, and governance, or ESG, risk is that of a data or security breach, given the firm is entrusted with and handles such high volumes of sensitive data.",
    "output": "[Cause] Akamai is entrusted with and handles high volumes of sensitive data [Relation] cause [Effect] Akamai's biggest environmental, social, and governance (ESG) risk is that of a data or security breach",
    "gold": "[Cause] the firm is entrusted with and handles such high volumes of sensitive data [Relation] cause [Effect] In our view, Akamai's biggest environmental, social, and governance, or ESG, risk is that of a data or security breach",
    "valid": false
  },
  {
    "input": "In the other European countries, we expect the firm to drive fixed and mobile convergence, with a positive effect on growth and churn rates, and achieve slow margin improvement thanks to efficiency gains via digitalization and scale.",
    "output": "[Cause] drive fixed and mobile convergence, efficiency gains via digitalization and scale [Relation] enable [Effect] positive effect on growth and churn rates, slow margin improvement",
    "gold": "[Cause] efficiency gains via digitalization and scale [Relation] cause [Effect] achieve slow margin improvement",
    "valid": false
  },
  {
    "input": "In the other European countries, we expect the firm to drive fixed and mobile convergence, with a positive effect on growth and churn rates, and achieve slow margin improvement thanks to efficiency gains via digitalization and scale.",
    "output": "[Cause] drive fixed and mobile convergence, achieve slow margin improvement thanks to efficiency gains via digitalization and scale [Relation] enable [Effect] positive effect on growth and churn rates",
    "gold": "[Cause] the firm to drive fixed and mobile convergence [Relation] cause [Effect] a positive effect on growth and churn rates",
    "valid": false
  },
  {
    "input": "Kroger's efforts to monetize its consumer data introduces risk as it grows in segments outside its core competency (such as media and market analysis for outside clients).",
    "output": "[Cause] Kroger's efforts to monetize its consumer data [Relation] cause [Effect] introduces risk as it grows in segments outside its core competency (such as media and market analysis for outside clients)",
    "gold": "[Cause] it grows in segments outside its core competency (such as media and market analysis for outside clients) [Relation] cause [Effect] Kroger's efforts to monetize its consumer data introduces risk",
    "valid": false
  },
  {
    "input": "History suggests this could Drug Manufacturers - Specialty & Genericbe possible, as Illinois's early plans for recreational legalization would hand an advantage to companies with medical cultivation and dispensary licenses.",
    "output": "[Cause] Illinois's early plans for recreational legalization would hand an advantage to companies with medical cultivation and dispensary licenses [Relation] cause [Effect] this could be possible",
    "gold": "[Cause] Illinois's early plans for recreational legalization would hand an advantage to companies with medical cultivation and dispensary licenses [Relation] cause [Effect] this could Drug Manufacturers - Specialty & Genericbe possible",
    "valid": false
  },
  {
    "input": "Of all Eaton's businesses, we're most bullish on its electrical sector and its aerospace business given data center growth, necessary upgrades to aging infrastructure, and the eventual commercial aerospace recovery.",
    "output": "[Cause] data center growth, necessary upgrades to aging infrastructure, and the eventual commercial aerospace recovery [Relation] cause [Effect] being most bullish on Eaton's electrical sector and its aerospace business",
    "gold": "[Cause] data center growth, necessary upgrades to aging infrastructure, and the eventual commercial aerospace recovery [Relation] cause [Effect] we're most bullish on its electrical sector and its aerospace business",
    "valid": false
  },
  {
    "input": "Despite this position, Vivo has steadily lost market share in the broadband Internet access market, both as it has lost customers and other carriers have gained.",
    "output": "[Cause] Vivo has lost customers [Relation] cause [Effect] Vivo has steadily lost market share in the broadband Internet access market",
    "gold": "[Cause] it has lost customers and other carriers have gained [Relation] cause [Effect] Vivo has steadily lost market share in the broadband Internet access market",
    "valid": false
  },
  {
    "input": "Hanes' capital expenditure as a percentage of revenue has been 2% or less in every year since 2011 as it has focused on product development.",
    "output": "[Cause] Hanes' focus on product development [Relation] enable [Effect] Hanes' capital expenditure as a percentage of revenue has been 2% or less in every year since 2011",
    "gold": "[Cause] it has focused on product development. [Relation] cause [Effect] Hanes' capital expenditure as a percentage of revenue has been 2% or less in every year since 2011",
    "valid": false
  },
  {
    "input": "Another example is Qualitrol, which offers condition-based monitoring solutions that allow utilities to reduce unnecessary maintenance and lower the risk of unplanned outages.",
    "output": "[Cause] Qualitrol offers condition-based monitoring solutions [Relation] enable [Effect] utilities can reduce unnecessary maintenance and lower the risk of unplanned outages",
    "gold": "[Cause] condition-based monitoring solutions [Relation] enable [Effect] utilities to reduce unnecessary maintenance and lower the risk of unplanned outages",
    "valid": false
  },
  {
    "input": "Despite Telus' best in class network, we think it will have to adapt to Shaw, which will likely mean reduced pricing power and margins.",
    "output": "[Cause] Telus will have to adapt to Shaw [Relation] cause [Effect] reduced pricing power and margins",
    "gold": "[Cause] Despite Telus' best in class network, we think it will have to adapt to Shaw [Relation] cause [Effect] reduced pricing power and margins",
    "valid": false
  },
  {
    "input": "We used 2019 as a reference point, as Carnival only operated sailings through March 2020, rendering the 2020 metric unusable.",
    "output": "[Cause] Carnival only operated sailings through March 2020 [Relation] cause [Effect] rendering the 2020 metric unusable",
    "gold": "[Cause] as Carnival only operated sailings through March 2020, rendering the 2020 metric unusable. [Relation] cause [Effect] We used 2019 as a reference point,",
    "valid": false
  },
  {
    "input": "Foreign exchange exposure could prove unpredictable as the firm grows internationally, if the dollar and euro trend widely versus the Canadian dollar (BRP's home currency).",
    "output": "[Cause] the firm grows internationally [Relation] cause [Effect] foreign exchange exposure could prove unpredictable",
    "gold": "[Cause] the dollar and euro trend widely versus the Canadian dollar (BRP's home currency) [Relation] cause [Effect] Foreign exchange exposure could prove unpredictable",
    "valid": false
  },
  {
    "input": "AutoNation operates in a very cyclical industry and is more prone to revenue volatility than other dealer firms because it has so much cash coming in from California, Florida, and Texas.",
    "output": "[Cause] AutoNation operates in a very cyclical industry and has so much cash coming in from California, Florida, and Texas [Relation] cause [Effect] more prone to revenue volatility than other dealer firms",
    "gold": "[Cause] it has so much cash coming in from California, Florida, and Texas [Relation] cause [Effect] AutoNation operates in a very cyclical industry and is more prone to revenue volatility than other dealer firms",
    "valid": false
  },
  {
    "input": "We think Lululemon protects the integrity of its brand by selling only high-quality apparel and it has continued to grow and improve margins despite the introduction of competing products by others.",
    "output": "[Cause] selling only high-quality apparel [Relation] enable [Effect] Lululemon protects the integrity of its brand",
    "gold": "[Cause] the introduction of competing products by others [Relation] prevent [Effect] it has continued to grow and improve margins",
    "valid": false
  },
  {
    "input": "We think Lululemon protects the integrity of its brand by selling only high-quality apparel and it has continued to grow and improve margins despite the introduction of competing products by others.",
    "output": "[Cause] Lululemon protects the integrity of its brand by selling only high-quality apparel [Relation] enable [Effect] Lululemon has continued to grow and improve margins despite the introduction of competing products by others",
    "gold": "[Cause] selling only high-quality apparel [Relation] enable [Effect] Lululemon protects the integrity of its brand",
    "valid": false
  },
  {
    "input": "Coca-Cola Femsa typifies this dynamic through its leading volumes, which allow it to more effectively leverage fixed costs and reduce variable costs per unit through purchasing scale.",
    "output": "[Cause] Coca-Cola Femsa's leading volumes [Relation] enable [Effect] more effectively leverage fixed costs and reduce variable costs per unit through purchasing scale",
    "gold": "[Cause] purchasing scale [Relation] enable [Effect] reduce variable costs per unit",
    "valid": false
  },
  {
    "input": "A key factor in the historical margin improvement was the divestiture of animal health (to Eli Lilly) and vaccine (to Glaxo) units, which were carrying very low margins and not driving much cash flow for the company.",
    "output": "[Cause] divestiture of animal health and vaccine units [Relation] enable [Effect] historical margin improvement",
    "gold": "[Cause] the divestiture of animal health (to Eli Lilly) and vaccine (to Glaxo) units [Relation] enable [Effect] margin improvement",
    "valid": false
  },
  {
    "input": "However, increased competition has lowered cap rates, and the potential for rising interest rates could squeeze the company's spread and its ability to create value.",
    "output": "[Cause] increased competition has lowered cap rates [Relation] cause [Effect] potential for rising interest rates could squeeze the company's spread and its ability to create value",
    "gold": "[Cause] increased competition [Relation] prevent [Effect] cap rates",
    "valid": false
  },
  {
    "input": "Although this compares unfavorably with margins commanded by its closest competitors, CMC's profitability is much less susceptible to volatile swings. This is largely because the company also operates metal recycling and steel fabrication operations that fairly consistently exhibit low-single-digit operating margins through the business cycle.",
    "output": "[Cause] CMC operates metal recycling and steel fabrication operations [Relation] enable [Effect] CMC's profitability is much less susceptible to volatile swings",
    "gold": "[Cause] the company also operates metal recycling and steel fabrication operations that fairly consistently exhibit low-single-digit operating margins through the business cycle [Relation] cause [Effect] Although this compares unfavorably with margins commanded by its closest competitors, CMC's profitability is much less susceptible to volatile swings",
    "valid": false
  },
  {
    "input": "AutoNation may further its advantage over smaller dealers with its AutoNation Express initiative, which it started in December 2014.",
    "output": "[Cause] AutoNation Express initiative started in December 2014 [Relation] enable [Effect] AutoNation may further its advantage over smaller dealers",
    "gold": "[Cause] its AutoNation Express initiative [Relation] cause [Effect] further its advantage over smaller dealers",
    "valid": false
  },
  {
    "input": "Compounding these pressures is the recessionary backdrop that could weaken to the extent unemployment rates surge and additional stimulus fails to materialize, with the prime point of uncertainty being how long this situation persists.",
    "output": "[Cause] recessionary backdrop that could weaken [Relation] cause [Effect] unemployment rates surge and additional stimulus fails to materialize",
    "gold": "[Cause] the recessionary backdrop [Relation] cause [Effect] these pressures",
    "valid": false
  },
  {
    "input": "Compounding these pressures is the recessionary backdrop that could weaken to the extent unemployment rates surge and additional stimulus fails to materialize, with the prime point of uncertainty being how long this situation persists.",
    "output": "[Cause] recessionary backdrop, weakening unemployment rates, failure of additional stimulus to materialize [Relation] cause [Effect] compounding pressures",
    "gold": "[Cause] the recessionary backdrop [Relation] cause [Effect] weaken to the extent unemployment rates surge and additional stimulus fails to materialize",
    "valid": false
  },
  {
    "input": "International organic revenue growth has has averaged about 10% annually over the last five years, and we project more than 9% growth on existing towers each of the next five years as well, as data demand in these markets narrows the gap with more developed markets.",
    "output": "[Cause] data demand in these markets narrows the gap with more developed markets [Relation] enable [Effect] projecting more than 9% growth on existing towers each of the next five years",
    "gold": "[Cause] data demand in these markets [Relation] enable [Effect] narrows the gap with more developed markets",
    "valid": false
  },
  {
    "input": "We do not believe that this superior profitability comes with substantially higher risks, as BBVA's geographical diversification and its retail and commercial focus offsets some of the risk that comes with BBVA's geographical tilt toward more volatile emerging markets.",
    "output": "[Cause] BBVA's geographical diversification and its retail and commercial focus [Relation] offset [Effect] offsets some of the risk that comes with BBVA's geographical tilt toward more volatile emerging markets",
    "gold": "[Cause] BBVA's geographical diversification and its retail and commercial focus offsets some of the risk that comes with BBVA's geographical tilt toward more volatile emerging markets [Relation] cause [Effect] We do not believe that this superior profitability comes with substantially higher risks",
    "valid": false
  },
  {
    "input": "This strategy should persist for the next several years, after which we expect the company to be a net acquirer of real estate as it finds attractive opportunities in its target markets.",
    "output": "[Cause] finding attractive opportunities in its target markets [Relation] cause [Effect] the company to be a net acquirer of real estate",
    "gold": "[Cause] finds attractive opportunities in its target markets [Relation] cause [Effect] the company to be a net acquirer of real estate",
    "valid": false
  },
  {
    "input": "The strong intangible brand asset led to worldwide Barbie sales rising 29%, Hot Wheels increasing 7%, and American Girl falling just 1%.",
    "output": "[Cause] strong intangible brand asset [Relation] enable, contribute to [Effect] ",
    "gold": "[Cause] The strong intangible brand asset [Relation] cause [Effect] worldwide Barbie sales rising 29%, Hot Wheels increasing 7%, and American Girl falling just 1%",
    "valid": false
  },
  {
    "input": "This suggests that the worst has passed, unless the COVID-19 pandemic takes a dramatic negative turn, and the pandemic could ultimately accelerate the ongoing shift toward electronic payments.",
    "output": "[Cause] the COVID-19 pandemic takes a dramatic negative turn [Relation] prevent [Effect] the worst has passed",
    "gold": "[Cause] the COVID-19 pandemic [Relation] cause [Effect] the ongoing shift toward electronic payments",
    "valid": false
  },
  {
    "input": "Our new fair value estimate implies a slightly higher multiple of 20.5 times our upwardly revised 2021 EPS assumptions of $9.70, which places us at the top end of management's guidance.",
    "output": "[Cause] upwardly revised 2021 EPS assumptions of $9.70 [Relation] cause [Effect] new fair value estimate implies a slightly higher multiple of 20.5 times",
    "gold": "[Cause] Our new fair value estimate implies a slightly higher multiple of 20.5 times our upwardly revised 2021 EPS assumptions of $9.70 [Relation] enable [Effect] places us at the top end of management's guidance",
    "valid": false
  },
  {
    "input": "We expect investments into identified growth areas, such as the midmarket tool-cutting market, to be met with greater competition and thus lower margins than some of Sandvik's high-margin-generating core businesses.",
    "output": "[Cause] investments into identified growth areas, such as the midmarket tool-cutting market [Relation] cause [Effect] met with greater competition and thus lower margins",
    "gold": "[Cause] investments into identified growth areas, such as the midmarket tool-cutting market, to be met with greater competition [Relation] cause [Effect] lower margins than some of Sandvik's high-margin-generating core businesses",
    "valid": false
  },
  {
    "input": "A period of low economic growth could coincide with fewer organic growth opportunities for companies, leading them to try growing via acquisition, but this type of M&A activity probably won't be enough to prevent lackluster earnings.",
    "output": "[Cause] A period of low economic growth [Relation] lead to, but won't be enough to prevent [Effect] fewer organic growth opportunities for companies",
    "gold": "[Cause] fewer organic growth opportunities for companies [Relation] cause [Effect] leading them to try growing via acquisition",
    "valid": false
  },
  {
    "input": "A period of low economic growth could coincide with fewer organic growth opportunities for companies, leading them to try growing via acquisition, but this type of M&A activity probably won't be enough to prevent lackluster earnings.",
    "output": "[Cause] A period of low economic growth [Relation] cause [Effect] fewer organic growth opportunities for companies",
    "gold": "[Cause] leading them to try growing via acquisition [Relation] prevent [Effect] lackluster earnings",
    "valid": false
  },
  {
    "input": "Down time alone can be harmful and expensive, and firms often have to engage in mirroring to mitigate it, which is itself costly.",
    "output": "[Cause] Down time alone [Relation] cause [Effect] harmful and expensive",
    "gold": "[Cause] Down time alone can be harmful and expensive [Relation] cause [Effect] firms often have to engage in mirroring to mitigate it",
    "valid": false
  },
  {
    "input": "Tillage equipment used in field preparation can utilize guidance systems to reduce overlap in each machine pass, collect data on field conditions (satellite mapping), and be flexible enough to adjust depth and down pressure maneuvers.",
    "output": "[Cause] Tillage equipment used in field preparation can utilize guidance systems to reduce overlap in each machine pass, collect data on field conditions (satellite mapping), and be flexible enough to adjust depth and down pressure maneuvers. [Relation] enable [Effect] improve efficiency and accuracy in field preparation",
    "gold": "[Cause] Tillage equipment used in field preparation [Relation] enable [Effect] utilize guidance systems to reduce overlap in each machine pass, collect data on field conditions (satellite mapping), and be flexible enough to adjust depth and down pressure maneuvers",
    "valid": false
  },
  {
    "input": "We don't believe that the switching cost advantage in commercial HVAC extends to the residential HVAC market because residential replacement costs are low compared with commercial systems.",
    "output": "[Cause] residential replacement costs are low compared with commercial systems [Relation] prevent [Effect] the switching cost advantage in commercial HVAC does not extend to the residential HVAC market",
    "gold": "[Cause] residential replacement costs are low compared with commercial systems [Relation] cause [Effect] We don't believe that the switching cost advantage in commercial HVAC extends to the residential HVAC market",
    "valid": false
  },
  {
    "input": "With the company already in turnaround mode, the coronavirus pandemic will prolong the process, detouring any improvement in execution through the rough roads of margin contraction on negative operating leverage from lower volume.",
    "output": "[Cause] the coronavirus pandemic [Relation] cause [Effect] prolong the process of turnaround and detour any improvement in execution",
    "gold": "[Cause] the company already in turnaround mode [Relation] cause [Effect] the coronavirus pandemic will prolong the process",
    "valid": false
  },
  {
    "input": "With the company already in turnaround mode, the coronavirus pandemic will prolong the process, detouring any improvement in execution through the rough roads of margin contraction on negative operating leverage from lower volume.",
    "output": "[Cause] the coronavirus pandemic [Relation] cause [Effect] prolong the process of turnaround, detouring any improvement in execution",
    "gold": "[Cause] the coronavirus pandemic [Relation] prevent [Effect] the company already in turnaround mode",
    "valid": false
  },
  {
    "input": "With the company already in turnaround mode, the coronavirus pandemic will prolong the process, detouring any improvement in execution through the rough roads of margin contraction on negative operating leverage from lower volume.",
    "output": "[Cause] the coronavirus pandemic [Relation] hinder [Effect] prolong the process of turnaround and detour any improvement in execution",
    "gold": "[Cause] the rough roads of margin contraction on negative operating leverage from lower volume [Relation] enable [Effect] detouring any improvement in execution",
    "valid": false
  },
  {
    "input": "Additionally, lengthy FDA approval processes and the sophistication of the technology are tall barriers Medical Instruments & Suppliesthat deter new market entrants, though both General Electric and Siemens have received FDA approval for 3D systems.",
    "output": "[Cause] lengthy FDA approval processes and the sophistication of the technology [Relation] cause [Effect] tall barriers that deter new market entrants",
    "gold": "[Cause] lengthy FDA approval processes and the sophistication of the technology [Relation] prevent [Effect] Medical Instruments & Suppliesthat deter new market entrants",
    "valid": false
  },
  {
    "input": "The company's scale has been instrumental in steadily growing quarterly market share (19% in November 2014 to 22.3% in February 2019 and supporting double-digit returns.",
    "output": "[Cause] The company's scale [Relation] enable [Effect] steadily growing quarterly market share (19% in November 2014 to 22.3% in February 2019) and supporting double-digit returns",
    "gold": "[Cause] The company's scale [Relation] enable [Effect] instrumental in steadily growing quarterly market share (19% in November 2014 to 22.3% in February 2019 and supporting double-digit returns",
    "valid": false
  },
  {
    "input": "Since then, Pegasystems' platform has evolved to be a comprehensive no-code application development platform, which has allowed American Express to expand its use of the software for other situations.",
    "output": "[Cause] Pegasystems' platform has evolved to be a comprehensive no-code application development platform [Relation] enable [Effect] American Express has expanded its use of the software for other situations",
    "gold": "[Cause] Pegasystems' platform has evolved to be a comprehensive no-code application development platform [Relation] enable [Effect] American Express to expand its use of the software for other situations",
    "valid": false
  },
  {
    "input": "Adjusted operating margins rose from 34% in 2013 to 50% in 2019 and we'd attribute the gain to streamlining operations and revenue growth.",
    "output": "[Cause] streamlining operations and revenue growth [Relation] enable [Effect] Adjusted operating margins rose from 34% in 2013 to 50% in 2019",
    "gold": "[Cause] streamlining operations and revenue growth [Relation] cause [Effect] Adjusted operating margins rose from 34% in 2013 to 50% in 2019",
    "valid": true
  },
  {
    "input": "With the consolidation of local station ownership, firms like Sinclair began to sell national advertising as station coverage could allow advertisers to reach a larger daytime audience.",
    "output": "[Cause] consolidation of local station ownership [Relation] enable [Effect] Sinclair began to sell national advertising",
    "gold": "[Cause] station coverage could allow advertisers to reach a larger daytime audience [Relation] cause [Effect] firms like Sinclair began to sell national advertising",
    "valid": false
  },
  {
    "input": "Fee revenue is sensitive to equity market valuations, and as such the equity market rebound is a positive for State Street.",
    "output": "[Cause] equity market rebound [Relation] cause [Effect] positive for State Street",
    "gold": "[Cause] Fee revenue is sensitive to equity market valuations [Relation] enable [Effect] the equity market rebound is a positive for State Street",
    "valid": false
  },
  {
    "input": "In fiscal 2021, the firm gained or maintained share in all five of its global platforms and its brands continue to command price premiums.",
    "output": "[Cause] the firm gained or maintained share in all five of its global platforms [Relation] enable [Effect] its brands continue to command price premiums",
    "gold": "[Cause] the firm gained or maintained share in all five of its global platforms [Relation] enable [Effect] its brands continue to command price premiums",
    "valid": true
  },
  {
    "input": "We are confident in gross margin expansion over the next 10 years, as we expect Workday's top line to rely less and less on its low-margin services business--which posted gross margin in fiscal 2020 of negative 9% compared with subscriptions' drastically better 16%.",
    "output": "[Cause] Workday's top line relying less and less on its low-margin services business [Relation] enable [Effect] confident in gross margin expansion over the next 10 years",
    "gold": "[Cause] Workday's top line to rely less and less on its low-margin services business [Relation] cause [Effect] We are confident in gross margin expansion over the next 10 years",
    "valid": false
  },
  {
    "input": "The North American industrial distribution market is highly fragmented, with the largest players benefiting primarily from scale-driven cost advantages over smaller competitors.",
    "output": "[Cause] The North American industrial distribution market is highly fragmented [Relation] enable [Effect] the largest players benefiting primarily from scale-driven cost advantages over smaller competitors",
    "gold": "[Cause] the largest players benefiting primarily from scale-driven cost advantages over smaller competitors [Relation] cause [Effect] The North American industrial distribution market is highly fragmented",
    "valid": false
  },
  {
    "input": "Norwegian can also improve profitability by stringently managing its expenses when sailing resumes, thanks to a young fleet and more cost-efficient ships.",
    "output": "[Cause] a young fleet and more cost-efficient ships [Relation] enable [Effect] Norwegian can improve profitability by stringently managing its expenses when sailing resumes",
    "gold": "[Cause] a young fleet and more cost-efficient ships [Relation] cause [Effect] Norwegian can also improve profitability by stringently managing its expenses when sailing resumes",
    "valid": false
  },
  {
    "input": "By the end of our 10-year forecast, we expect EBITDA margins will normalize around 18% as competitors introduce similar products into the siding market.",
    "output": "[Cause] competitors introduce similar products into the siding market [Relation] cause [Effect] EBITDA margins will normalize around 18%",
    "gold": "[Cause] competitors introduce similar products into the siding market [Relation] cause [Effect] EBITDA margins will normalize around 18%",
    "valid": true
  },
  {
    "input": "We would also note that Merck views its research solutions division as a feeder for its more sticky process solutions division, as scientists that train on Merck's products early in their career may be more apt to continue using those tools as their careers progress.",
    "output": "[Cause] scientists that train on Merck's products early in their career [Relation] enable [Effect] may be more apt to continue using those tools as their careers progress",
    "gold": "[Cause] as scientists that train on Merck's products early in their career may be more apt to continue using those tools as their careers progress. [Relation] enable [Effect] note that Merck views its research solutions division as a feeder for its more sticky process solutions division,",
    "valid": false
  },
  {
    "input": "There are high upfront costs in large-scale device sterilization because the process requires building large, complex sterilization plants. This makes it difficult for competitors to ramp production and gives an advantage to established players that can invest to keep up with growing demand.",
    "output": "[Cause] the process requires building large, complex sterilization plants [Relation] enable [Effect] high upfront costs in large-scale device sterilization",
    "gold": "[Cause] There are high upfront costs in large-scale device sterilization because the process requires building large, complex sterilization plants [Relation] prevent [Effect] competitors to ramp production and gives an advantage to established players that can invest to keep up with growing demand",
    "valid": false
  },
  {
    "input": "We expect wireline revenue growth to steadily accelerate throughout our forecast, to almost 3% by 2025, as continuing declines in voice revenue become less impactful and BCE's fiber-to-the-home, or FTTH, buildout and higher network quality dominate the segment and propel the firm to further share gains.",
    "output": "[Cause] BCE's fiber-to-the-home, or FTTH, buildout and higher network quality dominate the segment [Relation] enable [Effect] wireline revenue growth to steadily accelerate throughout the forecast",
    "gold": "[Cause] continuing declines in voice revenue become less impactful and BCE's fiber-to-the-home, or FTTH, buildout and higher network quality dominate the segment and propel the firm to further share gains [Relation] enable [Effect] wireline revenue growth to steadily accelerate throughout our forecast, to almost 3% by 2025",
    "valid": false
  },
  {
    "input": "Productivity can be additionally enhanced by using Tier 1 rigs, but the ingredients that make a rig Tier 1 lie in higher-quality equipment, which is widely available to most land drillers.",
    "output": "[Cause] using Tier 1 rigs [Relation] enable [Effect] Productivity can be additionally enhanced",
    "gold": "[Cause] using Tier 1 rigs [Relation] enable [Effect] Productivity can be additionally enhanced",
    "valid": true
  },
  {
    "input": "The firm's ongoing shift to eco-friendly packaging is worth monitoring--as the transition from plastic to eco-friendly materials will result in modestly higher cost of goods sold.",
    "output": "[Cause] The firm's ongoing shift to eco-friendly packaging [Relation] cause [Effect] transition from plastic to eco-friendly materials will result in modestly higher cost of goods sold",
    "gold": "[Cause] the transition from plastic to eco-friendly materials will result in modestly higher cost of goods sold [Relation] cause [Effect] The firm's ongoing shift to eco-friendly packaging is worth monitoring",
    "valid": false
  },
  {
    "input": "The firm's ongoing shift to eco-friendly packaging is worth monitoring--as the transition from plastic to eco-friendly materials will result in modestly higher cost of goods sold.",
    "output": "[Cause] The firm's ongoing shift to eco-friendly packaging [Relation] cause [Effect] transition from plastic to eco-friendly materials will result in modestly higher cost of goods sold",
    "gold": "[Cause] the transition from plastic to eco-friendly materials [Relation] cause [Effect] modestly higher cost of goods sold",
    "valid": false
  },
  {
    "input": "Furthermore, for products such as these with minimal differentiation across brands, consumers base their purchasing decision to a greater extent on price, rather than brand.",
    "output": "[Cause] products with minimal differentiation across brands [Relation] cause [Effect] consumers base their purchasing decision to a greater extent on price, rather than brand",
    "gold": "[Cause] price [Relation] cause [Effect] their purchasing decision",
    "valid": false
  },
  {
    "input": "Given that Core Lab has no interest in collecting cores, only in analyzing them, a product like CoreVault could only be positive for Core Lab.",
    "output": "[Cause] Core Lab has no interest in collecting cores, only in analyzing them [Relation] enable [Effect] a product like CoreVault could only be positive for Core Lab",
    "gold": "[Cause] Core Lab has no interest in collecting cores [Relation] cause [Effect] only in analyzing them",
    "valid": false
  },
  {
    "input": "New use cases allow Amphenol to sell new, higher-priced items into an end product alongside its incumbent positions, growing the firm's overall dollar content.",
    "output": "[Cause] New use cases [Relation] enable [Effect] Amphenol can sell new, higher-priced items into an end product alongside its incumbent positions",
    "gold": "[Cause] New use cases [Relation] enable [Effect] Amphenol to sell new, higher-priced items into an end product alongside its incumbent positions",
    "valid": false
  },
  {
    "input": "New use cases allow Amphenol to sell new, higher-priced items into an end product alongside its incumbent positions, growing the firm's overall dollar content.",
    "output": "[Cause] New use cases [Relation] enable [Effect] Amphenol can sell new, higher-priced items into an end product alongside its incumbent positions",
    "gold": "[Cause] Amphenol to sell new, higher-priced items into an end product alongside its incumbent positions [Relation] enable [Effect] growing the firm's overall dollar content",
    "valid": false
  },
  {
    "input": "Thus, Echo can usually procure capacity at lower rates than small and midsize shippers could obtain directly with carriers, thereby providing customers with material cost savings.",
    "output": "[Cause] Echo can usually procure capacity at lower rates than small and midsize shippers could obtain directly with carriers [Relation] enable [Effect] providing customers with material cost savings",
    "gold": "[Cause] Echo can usually procure capacity at lower rates than small and midsize shippers could obtain directly with carriers [Relation] enable [Effect] providing customers with material cost savings",
    "valid": true
  },
  {
    "input": "Even if regulation never rises to the level of explicit price caps, the threat of this regulation limits pricing power, in our view.",
    "output": "[Cause] the threat of regulation [Relation] prevent [Effect] limits pricing power",
    "gold": "[Cause] regulation never rises to the level of explicit price caps [Relation] cause [Effect] the threat of this regulation limits pricing power",
    "valid": false
  },
  {
    "input": "We continue to model strong growth for the experiences and dining segment, where we forecast 2021-30 revenue to average 22%, as its benefits from leading content and awareness.",
    "output": "[Cause] benefits from leading content and awareness [Relation] enable [Effect] strong growth for the experiences and dining segment",
    "gold": "[Cause] its benefits from leading content and awareness [Relation] cause [Effect] we forecast 2021-30 revenue to average 22%",
    "valid": false
  },
  {
    "input": "And, Bio-Rad's academic research end market could face headwinds from cuts to academic research budgets due to the ongoing pandemic, as many academic research institutions are facing the prospect of both state budget cuts and revenue shortfalls at academic institutions.",
    "output": "[Cause] cuts to academic research budgets due to the ongoing pandemic, state budget cuts, revenue shortfalls at academic institutions [Relation] cause [Effect] Bio-Rad's academic research end market could face headwinds",
    "gold": "[Cause] many academic research institutions are facing the prospect of both state budget cuts and revenue shortfalls at academic institutions [Relation] cause [Effect] Bio-Rad's academic research end market could face headwinds from cuts to academic research budgets due to the ongoing pandemic",
    "valid": false
  },
  {
    "input": "Global expansion allows access to a wider profile of consumers and their preferences, leading to better local merchandising and marketing, which could facilitate higher unit sales via supply that matches demand.",
    "output": "[Cause] Global expansion allows access to a wider profile of consumers and their preferences [Relation] enable [Effect] leading to better local merchandising and marketing",
    "gold": "[Cause] better local merchandising and marketing [Relation] enable [Effect] facilitate higher unit sales via supply that matches demand",
    "valid": false
  },
  {
    "input": "Global expansion allows access to a wider profile of consumers and their preferences, leading to better local merchandising and marketing, which could facilitate higher unit sales via supply that matches demand.",
    "output": "[Cause] Global expansion allows access to a wider profile of consumers and their preferences [Relation] enable [Effect] leading to better local merchandising and marketing, which could facilitate higher unit sales via supply that matches demand",
    "gold": "[Cause] Global expansion [Relation] enable [Effect] access to a wider profile of consumers and their preferences",
    "valid": false
  },
  {
    "input": "Similarly, with the value of IHS Markit's shares linked to S&P Global, the valuation risks that the latter firm faces (outlined in our company report) now also apply to IHS Markit.",
    "output": "[Cause] the valuation risks that the latter firm faces (outlined in our company report) [Relation] apply [Effect] now also apply to IHS Markit",
    "gold": "[Cause] the value of IHS Markit's shares linked to S&P Global [Relation] cause [Effect] the valuation risks that the latter firm faces (outlined in our company report) now also apply to IHS Markit",
    "valid": false
  },
  {
    "input": "Due to the critical nature of Sensata's products, such as tire pressure in cars or flap positioning in commercial aircraft, reliability and lasting safety are paramount.",
    "output": "[Cause] critical nature of Sensata's products, such as tire pressure in cars or flap positioning in commercial aircraft [Relation] cause [Effect] reliability and lasting safety are paramount",
    "gold": "[Cause] the critical nature of Sensata's products [Relation] enable [Effect] reliability and lasting safety are paramount",
    "valid": false
  },
  {
    "input": "We anticipate that marketing-related expenses will gradually increase as a percentage of revenues in the latter years of our forecast, leading to Amex's efficiency ratio remaining largely stuck over time.",
    "output": "[Cause] marketing-related expenses gradually increase as a percentage of revenues in the latter years of our forecast [Relation] cause [Effect] Amex's efficiency ratio remaining largely stuck over time",
    "gold": "[Cause] marketing-related expenses will gradually increase as a percentage of revenues in the latter years [Relation] cause [Effect] Amex's efficiency ratio remaining largely stuck over time",
    "valid": false
  },
  {
    "input": "We rate France's macroeconomic environment as fair, which balances France's history of stability and reasonable debt/GDP ratio with the lack of control over its currency and one of the most inflexible labor markets in Europe.",
    "output": "[Cause] France's history of stability and reasonable debt/GDP ratio [Relation] enable / balance [Effect] France's macroeconomic environment rated as fair",
    "gold": "[Cause] balances France's history of stability and reasonable debt/GDP ratio with the lack of control over its currency and one of the most inflexible labor markets in Europe [Relation] cause [Effect] We rate France's macroeconomic environment as fair",
    "valid": false
  },
  {
    "input": "We can envision Revox eventually contributing several hundred million dollars to the top line by taking share from established players, but we also see a potential scenario where the business doesn't grow as expected because of logistical challenges involved with scaling up a sterilization network.",
    "output": "[Cause] logistical challenges involved with scaling up a sterilization network [Relation] cause [Effect] the business doesn't grow as expected",
    "gold": "[Cause] logistical challenges involved with scaling up a sterilization network [Relation] cause [Effect] the business doesn't grow as expected",
    "valid": true
  },
  {
    "input": "We think that QuickBooks exhibits high switching costs given the regularity in bookkeeping and the pain of transferring a business' accounting record as well as learning a new software to record entries.",
    "output": "[Cause] the regularity in bookkeeping and the pain of transferring a business' accounting record [Relation] cause [Effect] QuickBooks exhibits high switching costs",
    "gold": "[Cause] learning a new software| the pain of transferring a business' accounting record| the regularity in bookkeeping [Relation] cause [Effect] QuickBooks exhibits high switching costs",
    "valid": false
  },
  {
    "input": "This inflated capital base combined with our forecasts of sustainably lower oil and gas expenditures compared with the 2010 to 2014 boom means that National Oilwell as a whole is unlikely to generate substantial economic profits moving forward.",
    "output": "[Cause] inflated capital base (combined with forecasts of sustainably lower oil and gas expenditures compared with the 2010 to 2014 boom) [Relation] cause [Effect] National Oilwell as a whole is unlikely to generate substantial economic profits moving forward",
    "gold": "[Cause] This inflated capital base combined with our forecasts of sustainably lower oil and gas expenditures compared with the 2010 to 2014 boom [Relation] enable [Effect] National Oilwell as a whole is unlikely to generate substantial economic profits moving forward",
    "valid": false
  },
  {
    "input": "Additionally, the scale and breadth of its operations allows the company to build out a wider set of data and experience, which we believe improves the value of its services even at the middle-market level.",
    "output": "[Cause] the scale and breadth of its operations [Relation] enable [Effect] allows the company to build out a wider set of data and experience",
    "gold": "[Cause] the scale and breadth of its operations [Relation] enable [Effect] allows the company to build out a wider set of data and experience",
    "valid": true
  },
  {
    "input": "Additionally, the scale and breadth of its operations allows the company to build out a wider set of data and experience, which we believe improves the value of its services even at the middle-market level.",
    "output": "[Cause] the scale and breadth of its operations [Relation] enable [Effect] allows the company to build out a wider set of data and experience",
    "gold": "[Cause] build out a wider set of data and experience [Relation] enable [Effect] improves the value of its services even at the middle-market level",
    "valid": false
  },
  {
    "input": "In 2019, pricing momentum picked up, and this positive trend accelerated in 2020 as the coronavirus appears to have acted as an additional spur to pricing.",
    "output": "[Cause] the coronavirus appears to have acted as an additional spur to pricing [Relation] cause [Effect] pricing momentum picked up in 2020",
    "gold": "[Cause] coronavirus appears to have acted as an additional spur to pricing [Relation] cause [Effect] this positive trend accelerated in 2020",
    "valid": false
  },
  {
    "input": "By our assessment, MPS' returns on invested capital haven't dipped below 20%--even when its business was barely breaking $100 million in revenue--and have steadily grown with its top line and margin expansion.",
    "output": "[Cause] MPS' returns on invested capital haven't dipped below 20% [Relation] enable [Effect] have steadily grown with its top line and margin expansion",
    "gold": "[Cause] its business was barely breaking $100 million in revenue--and have steadily grown with its top line and margin expansion [Relation] prevent [Effect] MPS' returns on invested capital| dipped below 20%",
    "valid": false
  },
  {
    "input": "As these platforms begin to capture a larger percentage of marketplace activity, a positive feedback loop will allow CoStar to more effectively monetize them.",
    "output": "[Cause] these platforms begin to capture a larger percentage of marketplace activity [Relation] enable [Effect] a positive feedback loop will allow CoStar to more effectively monetize them",
    "gold": "[Cause] these platforms begin to capture a larger percentage of marketplace activity [Relation] enable [Effect] a positive feedback loop will allow CoStar to more effectively monetize them",
    "valid": true
  },
  {
    "input": "Although we project Gran Tierra to generate economic profit in the near term, the combination of intensive capital requirements and the uncertainty associated with future resource potential hampers the company's ability to generate sustainable excess returns on invested capital.",
    "output": "[Cause] intensive capital requirements and the uncertainty associated with future resource potential [Relation] hinder [Effect] hampers the company's ability to generate sustainable excess returns on invested capital",
    "gold": "[Cause] he combination of intensive capital requirements and the uncertainty associated with future [Relation] prevent [Effect] potential hampers the company's ability to generate sustainable excess returns on invested capital",
    "valid": false
  },
  {
    "input": "Further consolidation in the industries in which the company operates, such as healthcare, could give Cognizant less leverage in its margins and make the company more vulnerable if a competitor were to suddenly take major share of a vertical.",
    "output": "[Cause] further consolidation in the industries in which the company operates, such as healthcare [Relation] cause [Effect] give Cognizant less leverage in its margins and make the company more vulnerable if a competitor were to suddenly take major share of a vertical",
    "gold": "[Cause] a competitor were to suddenly take major share of a vertical [Relation] enable [Effect] Further consolidation in the industries in which the company operates, such as healthcare, could give Cognizant less leverage in its margins and make the company more vulnerable",
    "valid": false
  },
  {
    "input": "In the U.S., metal recycling firms tend to compete regionally because scrap metal has a very low value/weight ratio and is not readily transported by land over long distances in a cost-effective manner.",
    "output": "[Cause] scrap metal has a very low value/weight ratio and is not readily transported by land over long distances in a cost-effective manner [Relation] cause [Effect] metal recycling firms tend to compete regionally",
    "gold": "[Cause] scrap metal has a very low value/weight ratio and is not readily transported by land over long distances in a cost-effective manner [Relation] cause [Effect] metal recycling firms tend to compete regionally",
    "valid": true
  },
  {
    "input": "In the more sedate demand environment, incremental capacity can be added for very low capital costs through incremental expansions and efficiencies, including innovative technology such as automated haulage.",
    "output": "[Cause] sedate demand environment [Relation] enable [Effect] incremental capacity can be added for very low capital costs through incremental expansions and efficiencies, including innovative technology such as automated haulage",
    "gold": "[Cause] incremental expansions and efficiencies [Relation] enable [Effect] including innovative technology such as automated haulage| incremental capacity can be added for very low capital costs",
    "valid": false
  },
  {
    "input": "Realty Income has increased the average quality of its portfolio by leasing to more investment-grade tenants, increasing the EBITDAR/rent coverage ratio, and diversifying across more defensive industries.",
    "output": "[Cause] leasing to more investment-grade tenants, increasing the EBITDAR/rent coverage ratio, and diversifying across more defensive industries [Relation] cause [Effect] Realty Income has increased the average quality of its portfolio",
    "gold": "[Cause] leasing to more investment-grade tenants, increasing the EBITDAR/rent coverage ratio, and diversifying across more defensive industries [Relation] enable [Effect] Realty Income has increased the average quality of its portfolio",
    "valid": true
  },
  {
    "input": "However, there have been some benefits as low interest rates have boosted mortgage volume and unemployment claims have boosted workforce solutions.",
    "output": "[Cause] low interest rates have boosted mortgage volume; unemployment claims have boosted workforce solutions [Relation] enable [Effect] some benefits",
    "gold": "[Cause] low interest rates [Relation] cause [Effect] boosted mortgage volume",
    "valid": false
  },
  {
    "input": "However, there have been some benefits as low interest rates have boosted mortgage volume and unemployment claims have boosted workforce solutions.",
    "output": "[Cause] low interest rates have boosted mortgage volume, unemployment claims have boosted workforce solutions [Relation] cause [Effect] there have been some benefits",
    "gold": "[Cause] unemployment claims [Relation] cause [Effect] boosted workforce solutions",
    "valid": false
  },
  {
    "input": "While reimbursement pressure could arise in the U.S., we see medium uncertainty around DaVita's ongoing cash flows given the essential nature of its services and its strong competitive position in the U.S.",
    "output": "[Cause] the essential nature of its services and its strong competitive position in the U.S. [Relation] enable [Effect] medium uncertainty around DaVita's ongoing cash flows",
    "gold": "[Cause] the essential nature of its services and its strong competitive position in the U.S. [Relation] cause [Effect] medium uncertainty around DaVita's ongoing cash flows",
    "valid": true
  },
  {
    "input": "At the end of 2020, Schwab supported over $6.5 trillion of client assets, making it one of the largest U.S.-based companies focused on securities trading and wealth management.",
    "output": "[Cause] Schwab supported over $6.5 trillion of client assets [Relation] cause [Effect] Schwab becomes one of the largest U.S.-based companies focused on securities trading and wealth management",
    "gold": "[Cause] Schwab supported over $6.5 trillion of client assets [Relation] enable [Effect] it one of the largest U.S.-based companies focused on securities trading and wealth management",
    "valid": false
  },
  {
    "input": "The domino effect that took hold of this economy stretched into ''collateralized'' mortgage instruments and as subprime mortgage owners were unable to make their payments.",
    "output": "[Cause] subprime mortgage owners were unable to make their payments [Relation]  [Effect] The domino effect that took hold of this economy stretched into ''collateralized'' mortgage instruments",
    "gold": "[Cause] subprime mortgage owners were unable to make their payments [Relation] cause [Effect] The domino effect that took hold of this economy stretched into ''collateralized'' mortgage instruments",
    "valid": true
  },
  {
    "input": "Additionally, RH's demand is largely tied to the performance of the domestic home improvement market and consumer confidence, which tend to fluctuate over an economic cycle, driving significant volatility in sales.",
    "output": "[Cause] the performance of the domestic home improvement market and consumer confidence, which tend to fluctuate over an economic cycle [Relation] cause [Effect] significant volatility in sales",
    "gold": "[Cause] performance of the domestic home improvement market and consumer confidence [Relation] enable [Effect] RH's demand",
    "valid": false
  },
  {
    "input": "Additionally, RH's demand is largely tied to the performance of the domestic home improvement market and consumer confidence, which tend to fluctuate over an economic cycle, driving significant volatility in sales.",
    "output": "[Cause] performance of the domestic home improvement market and consumer confidence, which tend to fluctuate over an economic cycle [Relation] cause [Effect] significant volatility in sales",
    "gold": "[Cause] RH's demand is largely tied to the performance of the domestic home improvement market and consumer confidence [Relation] enable [Effect] fluctuate over an economic cycle, driving significant volatility in sales",
    "valid": false
  },
  {
    "input": "With more usage, more data about users' behavioral interests is gathered, analyzed, and applied to rank ads more accurately based on their relevance and click-through-rate probability.",
    "output": "[Cause] more usage, more data about users' behavioral interests is gathered, analyzed, and applied [Relation] enable [Effect] rank ads more accurately based on their relevance and click-through-rate probability",
    "gold": "[Cause] more usage, more data about users' behavioral interests is gathered, analyzed, and applied [Relation] enable [Effect] rank ads more accurately based on their relevance and click-through-rate probability",
    "valid": true
  },
  {
    "input": "That said, coal runs in unit trains hauling exclusively coal (often using customers' cars), thus we think the rail can continue to adjust its train and crew starts to match demand conditions.",
    "output": "[Cause] rail can continue to adjust its train and crew starts to match demand conditions [Relation] enable [Effect] coal runs in unit trains hauling exclusively coal",
    "gold": "[Cause] coal runs in unit trains hauling exclusively coal (often using customers' cars) [Relation] cause [Effect] the rail can continue to adjust its train and crew starts to match demand conditions",
    "valid": false
  },
  {
    "input": "This is due to the decline in raw material prices, coupled with the overcapacity issues in the steel industry, resulting in a lack of pricing power for steel producers.",
    "output": "[Cause] decline in raw material prices, coupled with overcapacity issues in the steel industry [Relation] cause [Effect] lack of pricing power for steel producers",
    "gold": "[Cause] the overcapacity issues in the steel industry [Relation] cause [Effect] a lack of pricing power for steel producers",
    "valid": false
  },
  {
    "input": "We assign the bank a high uncertainty rating, which we believe captures the spread between our bull and bear cases.",
    "output": "[Cause] high uncertainty rating [Relation] cause [Effect] captures the spread between our bull and bear cases",
    "gold": "[Cause] we believe captures the spread between our bull and bear cases [Relation] cause [Effect] We assign the bank a high uncertainty rating",
    "valid": false
  },
  {
    "input": "New York City has averaged 5% supply growth since 2013, and that trend should continue for at least two more years as the city continues to approve midblock upscale and midscale hotels in the most desired submarkets. This has kept New York City's revPAR growth below the national average over this time frame, and Host's Manhattan portfolio saw negative revPAR growth in 2015, 2016, and 2017 as a result of high supply.",
    "output": "[Cause] New York City's approval of midblock upscale and midscale hotels in the most desired submarkets, averaging 5% supply growth since 2013 [Relation] cause [Effect] New York City's revPAR growth below the national average, negative revPAR growth in Host's Manhattan portfolio in 2015, 2016, and 2017",
    "gold": "[Cause] New York City has averaged 5% supply growth since 2013, and that trend should continue for at least two more years as the city continues to approve midblock upscale and midscale hotels in the most desired submarkets [Relation] cause [Effect] kept New York City's revPAR growth below the national average over this time frame, and Host's Manhattan portfolio saw negative revPAR growth in 2015, 2016, and 2017 as a result of high supply",
    "valid": false
  },
  {
    "input": "Since the crisis, much has changed, and management has made improvements to the underwriting process, and generally improved the bank's risk management.",
    "output": "[Cause] management has made improvements to the underwriting process and generally improved the bank's risk management [Relation] cause [Effect] much has changed",
    "gold": "[Cause] management has made improvements to the underwriting process [Relation] enable [Effect] generally improved the bank's risk management",
    "valid": false
  },
  {
    "input": "Bell is competing against a joint venture between Lockheed Martin and Boeing for this contract, and we don't anticipate Bell winning this contract due to subscale production capabilities relative to Lockheed and Boeing.",
    "output": "[Cause] subscale production capabilities relative to Lockheed and Boeing [Relation] prevent [Effect] Bell not winning this contract",
    "gold": "[Cause] subscale production capabilities relative to Lockheed and Boeing [Relation] prevent [Effect] Bell winning this contract",
    "valid": false
  },
  {
    "input": "The bankruptcy of the firm's largest franchisee, NPC International, also points to deteriorating unit economics, as Pizza Hut represented 75% of the firm's restaurant portfolio.",
    "output": "[Cause] bankruptcy of the firm's largest franchisee, NPC International [Relation] cause [Effect] deteriorating unit economics",
    "gold": "[Cause] Pizza Hut represented 75% of the firm's restaurant portfolio [Relation] cause [Effect] The bankruptcy of the firm's largest franchisee",
    "valid": false
  },
  {
    "input": "Approximately three drillers currently operate in the Gulf of Mexico, so natural buyers in the space are difficult to pinpoint.",
    "output": "[Cause] Approximately three drillers currently operate in the Gulf of Mexico [Relation] cause [Effect] natural buyers in the space are difficult to pinpoint",
    "gold": "[Cause] Approximately three drillers currently operate in the Gulf of Mexico [Relation] cause [Effect] natural buyers in the space are difficult to pinpoint",
    "valid": true
  },
  {
    "input": "On the back of online dating becoming mainstream, the number of Internet and mobile device users increasing globally, and the growth of the singles population worldwide, Match Group with its portfolio of online dating brands has become the leader in this space.",
    "output": "[Cause] online dating becoming mainstream, the number of Internet and mobile device users increasing globally, and the growth of the singles population worldwide [Relation] enable [Effect] Match Group with its portfolio of online dating brands has become the leader in this space",
    "gold": "[Cause] online dating becoming mainstream, the number of Internet and mobile device users increasing globally, and the growth of the singles population worldwide [Relation] cause [Effect] Match Group with its portfolio of online dating brands has become the leader in this space",
    "valid": true
  },
  {
    "input": "However, we believe the use of research models will remain an integral part of the drug development process, as alternatives such as in vitro (test tubes) and in silico (computer simulation) testing do not fully replicate the in vivo dynamics.",
    "output": "[Cause] alternatives such as in vitro (test tubes) and in silico (computer simulation) testing do not fully replicate the in vivo dynamics [Relation] cause [Effect] the use of research models will remain an integral part of the drug development process",
    "gold": "[Cause] However, we believe the use of research models will remain an integral part of the drug development process [Relation] enable [Effect] as alternatives such as in vitro (test tubes) and in silico (computer simulation) testing do not fully replicate the in vivo dynamics",
    "valid": false
  },
  {
    "input": "Biosimilar competition is a looming threat, but we think the significant manufacturing and development costs that biosimilar makers are expected to incur would slow any erosion of sales of these products, limiting the number of contenders and their ability to compete on price.",
    "output": "[Cause] significant manufacturing and development costs that biosimilar makers are expected to incur [Relation] prevent [Effect] slow erosion of sales of biosimilar products, limiting the number of contenders and their ability to compete on price",
    "gold": "[Cause] the significant manufacturing and development costs that biosimilar makers are expected to incur [Relation] cause [Effect] slow any erosion of sales of these products",
    "valid": false
  },
  {
    "input": "In a rising interest rates environment, consumers could be less willing to finance their vehicle purchases, resulting in shrinking demand for ATVs.",
    "output": "[Cause] In a rising interest rates environment [Relation] cause [Effect] consumers could be less willing to finance their vehicle purchases",
    "gold": "[Cause] a rising interest rates environment [Relation] prevent [Effect] demand for ATVs",
    "valid": false
  },
  {
    "input": "We project annual sales increases of 12% during the next five years as a result of new drug launches offsetting patent losses.",
    "output": "[Cause] new drug launches [Relation] enable [Effect] annual sales increases of 12% during the next five years",
    "gold": "[Cause] new drug launches [Relation] enable [Effect] annual sales increases of 12% during the next five years",
    "valid": true
  },
  {
    "input": "The company's new online advisory platform will also benefit from its low cost and client reach, which will enable Schwab to be more profitable than existing players and leapfrog them in assets.",
    "output": "[Cause] The company's new online advisory platform's low cost and client reach [Relation] enable [Effect] enable Schwab to be more profitable than existing players and leapfrog them in assets",
    "gold": "[Cause] The company's new online advisory platform will also benefit from its low cost and client reach [Relation] enable [Effect] Schwab to be more profitable than existing players and leapfrog them in assets",
    "valid": false
  },
  {
    "input": "Due to the sale of most of its brake control business as well as coronavirus-induced industrywide factory closures, 2020 revenue declined 28%, but we forecast a 30% rebound in 2021 as backlog starts to ramp-up, with a return to normalized light vehicle demand in 2023.",
    "output": "[Cause] sale of most of its brake control business as well as coronavirus-induced industrywide factory closures [Relation] cause [Effect] 2020 revenue declined 28%",
    "gold": "[Cause] backlog starts to ramp-up, with a return to normalized light vehicle demand in 2023 [Relation] cause [Effect] a 30% rebound in 2021",
    "valid": false
  },
  {
    "input": "Due to the sale of most of its brake control business as well as coronavirus-induced industrywide factory closures, 2020 revenue declined 28%, but we forecast a 30% rebound in 2021 as backlog starts to ramp-up, with a return to normalized light vehicle demand in 2023.",
    "output": "[Cause] sale of most of its brake control business and coronavirus-induced industrywide factory closures [Relation] cause [Effect] 2020 revenue declined 28%",
    "gold": "[Cause] the sale of most of its brake control business [Relation] cause [Effect] 2020 revenue declined 28%",
    "valid": false
  },
  {
    "input": "Due to the sale of most of its brake control business as well as coronavirus-induced industrywide factory closures, 2020 revenue declined 28%, but we forecast a 30% rebound in 2021 as backlog starts to ramp-up, with a return to normalized light vehicle demand in 2023.",
    "output": "[Cause] sale of most of its brake control business | coronavirus-induced industrywide factory closures [Relation] cause [Effect] 2020 revenue declined 28%",
    "gold": "[Cause] coronavirus-induced industrywide factory closures [Relation] cause [Effect] 2020 revenue declined 28%",
    "valid": true
  },
  {
    "input": "Due to the sale of most of its brake control business as well as coronavirus-induced industrywide factory closures, 2020 revenue declined 28%, but we forecast a 30% rebound in 2021 as backlog starts to ramp-up, with a return to normalized light vehicle demand in 2023.",
    "output": "[Cause] the sale of most of its brake control business as well as coronavirus-induced industrywide factory closures [Relation] cause [Effect] 2020 revenue declined 28%",
    "gold": "[Cause] a return to normalized light vehicle demand in 2023 [Relation] cause [Effect] backlog starts to ramp-up",
    "valid": false
  },
  {
    "input": "With most of its assets located in midtown Manhattan, SL Green benefits disproportionately from the ever-increasing demand for centrally located real estate from companies that employ global tech and financial talent.",
    "output": "[Cause] ever-increasing demand for centrally located real estate from companies that employ global tech and financial talent [Relation] enable [Effect] SL Green benefits disproportionately",
    "gold": "[Cause] With most of its assets located in midtown Manhattan [Relation] cause [Effect] SL Green benefits disproportionately from the ever-increasing demand for centrally located real estate from companies that employ global tech and financial talent",
    "valid": false
  },
  {
    "input": "It's unlikely that interest rates return to pre-financial-crisis levels and thus we expect Prudential to continue to face this headwind for the foreseeable future.",
    "output": "[Cause] interest rates unlikely to return to pre-financial-crisis levels [Relation] cause [Effect] Prudential continues to face this headwind for the foreseeable future",
    "gold": "[Cause] It's unlikely that interest rates return to pre-financial-crisis levels [Relation] prevent [Effect] we expect Prudential to continue to face this headwind for the foreseeable future.",
    "valid": false
  },
  {
    "input": "The company is in the midst of an expansion initiative on the retail and commercial side, aiming to expand its geographic footprint as well as its digital presence in key locations all over the United States.",
    "output": "[Cause] expansion initiative on the retail and commercial side [Relation] cause [Effect] aim to expand its geographic footprint as well as its digital presence in key locations all over the United States",
    "gold": "[Cause] expand its geographic footprint as well as its digital presence in key locations all over the United States [Relation] cause [Effect] The company is in the midst of an expansion initiative on the retail and commercial side",
    "valid": false
  },
  {
    "input": "Since even slightly differentiated technical features can cause an end user to prefer one tool over another similar tool for specific applications in Danaher's precise scientific end markets, we see intangible assets around its differentiated technology.",
    "output": "[Cause] even slightly differentiated technical features can cause an end user to prefer one tool over another similar tool for specific applications in Danaher's precise scientific end markets [Relation] cause [Effect] intangible assets around its differentiated technology",
    "gold": "[Cause] even slightly differentiated technical features can cause an end user to prefer one tool over another similar tool for specific applications in Danaher's precise scientific end markets [Relation] cause [Effect] intangible assets around its differentiated technology",
    "valid": true
  },
  {
    "input": "These tests receive regulatory approval during the system approval process, and switching costs can be high, because customers are unlikely to reopen a regulatory file simply to get a different control approved.",
    "output": "[Cause] These tests receive regulatory approval during the system approval process [Relation] cause [Effect] switching costs can be high",
    "gold": "[Cause] customers are unlikely to reopen a regulatory file simply to get a different control approved [Relation] cause [Effect] These tests receive regulatory approval during the system approval process, and switching costs can be high",
    "valid": false
  },
  {
    "input": "Givlaari for acute hepatic porphyria also looks promising given that AHP is a rare indication with high unmet need.",
    "output": "[Cause] AHP is a rare indication with high unmet need [Relation] cause [Effect] Givlaari for acute hepatic porphyria looks promising",
    "gold": "[Cause] AHP is a rare indication with high unmet need [Relation] cause [Effect] Givlaari for acute hepatic porphyria also looks promising",
    "valid": false
  },
  {
    "input": "Investment in the treasure hunt should keep post-pandemic traffic strong, and we are not concerned about cannibalization as rivals Ross and TJX grow, considering customers' willingness to shop multiple off-price stores.",
    "output": "[Cause] Investment in the treasure hunt [Relation] enable [Effect] should keep post-pandemic traffic strong",
    "gold": "[Cause] considering customers' willingness to shop multiple off-price stores [Relation] cause [Effect] Investment in the treasure hunt should keep post-pandemic traffic strong, and we are not concerned about cannibalization as rivals Ross and TJX grow",
    "valid": false
  },
  {
    "input": "Valuations in the company's target markets currently appear somewhat rich to us, too, which could constrain its returns going forward if its M&amp;A activities continue unabated.",
    "output": "[Cause] Valuations in the company's target markets currently appear somewhat rich [Relation] cause [Effect] constrain its returns going forward if its M&A activities continue unabated",
    "gold": "[Cause] Valuations in the company's target markets currently appear somewhat rich [Relation] enable [Effect] constrain its returns going forward if its M&amp",
    "valid": false
  },
  {
    "input": "The exhaust system must be engineered in such a way that back pressure and airflow are maximized for optimum fuel efficiency and engine performance.",
    "output": "[Cause] The exhaust system must be engineered in such a way [Relation] ensure [Effect] back pressure and airflow are maximized for optimum fuel efficiency and engine performance",
    "gold": "[Cause] back pressure and airflow are maximized for optimum fuel efficiency and engine performance [Relation] cause [Effect] The exhaust system must be engineered in such a way",
    "valid": false
  },
  {
    "input": "That said, Post's cereal business reports attractive margins, and we applaud the firm's efforts to further maximize profitability by right-sizing the business for the more modest opportunity.",
    "output": "[Cause] the firm's efforts to further maximize profitability by right-sizing the business for the more modest opportunity [Relation] cause [Effect] Post's cereal business reports attractive margins",
    "gold": "[Cause] the firm's efforts to further maximize profitability [Relation] cause [Effect] right-sizing the business for the more modest opportunity",
    "valid": false
  },
  {
    "input": "Hubbell's large suite of products allows it to generate ample volumes that lead to cost efficiencies in key portions of its supply chain.",
    "output": "[Cause] Hubbell's large suite of products [Relation] enable [Effect] allows it to generate ample volumes",
    "gold": "[Cause] generate ample volumes [Relation] cause [Effect] cost efficiencies in key portions of its supply chain",
    "valid": false
  },
  {
    "input": "The best models will have consistent and uniform genetic makeup, which requires generations of systematic inbreeding as well as regular backcrossing with the original genetic source to prevent genetic shifts over time.",
    "output": "[Cause] generations of systematic inbreeding as well as regular backcrossing with the original genetic source [Relation] enable [Effect] consistent and uniform genetic makeup",
    "gold": "[Cause] The best models will have consistent and uniform genetic makeup, which requires generations of systematic inbreeding as well as regular backcrossing with the original genetic source [Relation] enable [Effect] to prevent genetic shifts over time",
    "valid": false
  },
  {
    "input": "Gaming should continue to be a major source of revenue, though we think recent growth rates will be difficult to replicate due to saturation and lengthening replacement cycles of gaming GPUs, greater competition, and softer cryptocurrency mining-related GPU sales.",
    "output": "[Cause] saturation and lengthening replacement cycles of gaming GPUs, greater competition, and softer cryptocurrency mining-related GPU sales [Relation] cause [Effect] recent growth rates will be difficult to replicate",
    "gold": "[Cause] saturation and lengthening replacement cycles of gaming GPUs, greater competition, and softer cryptocurrency mining-related GPU sales [Relation] cause [Effect] recent growth rates will be difficult to replicate",
    "valid": true
  },
  {
    "input": "However, we think economic shocks or housing slowdowns will induce a higher degree of price competition as coatings companies fight for volume, leading to narrower margins over a full cycle.",
    "output": "[Cause] economic shocks or housing slowdowns [Relation] cause [Effect] induce a higher degree of price competition as coatings companies fight for volume",
    "gold": "[Cause] coatings companies fight for volume [Relation] cause [Effect] narrower margins over a full cycle",
    "valid": false
  },
  {
    "input": "However, we think economic shocks or housing slowdowns will induce a higher degree of price competition as coatings companies fight for volume, leading to narrower margins over a full cycle.",
    "output": "[Cause] economic shocks or housing slowdowns [Relation] cause [Effect] induce a higher degree of price competition as coatings companies fight for volume, leading to narrower margins over a full cycle",
    "gold": "[Cause] coatings companies fight for volume| narrower margins over a full cycle [Relation] cause [Effect] economic shocks or housing slowdowns will induce a higher degree of price competition",
    "valid": false
  },
  {
    "input": "We believe the greatest risk is that the industry evolves into a fragmented series of sub-categories, limiting the previous benefits of scale and making it difficult to replicate margins of the lucrative cigarette business.",
    "output": "[Cause] the industry evolves into a fragmented series of sub-categories [Relation] cause [Effect] limiting the previous benefits of scale and making it difficult to replicate margins of the lucrative cigarette business",
    "gold": "[Cause] the industry evolves into a fragmented series of sub-categories [Relation] cause [Effect] limiting the previous benefits of scale and making it difficult to replicate margins of the lucrative cigarette business",
    "valid": true
  },
  {
    "input": "As RedCard credit and debit sales account for less than one fourth of Target's total and Target Circle only launched in 2019, we believe it does not enjoy the same level of advantage as other sellers with greater insight.",
    "output": "[Cause] RedCard credit and debit sales account for less than one fourth of Target's total; Target Circle only launched in 2019 [Relation] cause [Effect] believe it does not enjoy the same level of advantage as other sellers with greater insight",
    "gold": "[Cause] RedCard credit and debit sales account for less than one fourth of Target's total and Target Circle only launched in 2019 [Relation] cause [Effect] it does not enjoy the same level of advantage as other sellers with greater insight",
    "valid": false
  },
  {
    "input": "Qorvo generated 5% revenue growth in fiscal 2020, thanks to the start of 5G RF adoption, offset by headwinds due to lost business within Huawei's base station business due to the U.S.",
    "output": "[Cause] headwinds due to lost business within Huawei's base station business due to the U.S. [Relation] offset [Effect] Qorvo generated 5% revenue growth in fiscal 2020, thanks to the start of 5G RF adoption",
    "gold": "[Cause] the start of 5G RF adoption [Relation] enable [Effect] Qorvo generated 5% revenue growth in fiscal 2020",
    "valid": false
  },
  {
    "input": "Qorvo generated 5% revenue growth in fiscal 2020, thanks to the start of 5G RF adoption, offset by headwinds due to lost business within Huawei's base station business due to the U.S.",
    "output": "[Cause] lost business within Huawei's base station business due to the U.S. [Relation] offset [Effect] Qorvo generated 5% revenue growth in fiscal 2020, thanks to the start of 5G RF adoption",
    "gold": "[Cause] lost business within Huawei's base station business due to the U.S [Relation] cause [Effect] offset by headwinds",
    "valid": false
  },
  {
    "input": "While we're optimistic about Alibaba's ability to become a preferred partner for international retailers and consumer brands looking to sell in China, the firm does not enjoy the same network effect and brand recognition in other countries, and it may face challenges directly expanding in these markets.",
    "output": "[Cause] Alibaba does not enjoy the same network effect and brand recognition in other countries [Relation] cause [Effect] Alibaba may face challenges directly expanding in these markets",
    "gold": "[Cause] firm does not enjoy the same network effect and brand recognition in other countries [Relation] cause [Effect] it may face challenges directly expanding in these markets",
    "valid": false
  },
  {
    "input": "While we forecast low-single-digit revenue growth in this segment, we think operating margins will contract as favorable linerboard economics have attracted increased competition and additional supply.",
    "output": "[Cause] favorable linerboard economics have attracted increased competition and additional supply [Relation] cause [Effect] operating margins will contract",
    "gold": "[Cause] favorable linerboard economics have attracted increased competition and additional supply [Relation] enable [Effect] operating margins will contract",
    "valid": true
  },
  {
    "input": "Considering the relatively discretionary nature of insulin pumps, Insulet remains vulnerable to economic downturns when consumers tighten their financial belts and stick with multiple daily injections.",
    "output": "[Cause] economic downturns when consumers tighten their financial belts [Relation] cause [Effect] Insulet remains vulnerable",
    "gold": "[Cause] consumers tighten their financial belts and stick with multiple daily injections [Relation] cause [Effect] Insulet remains vulnerable to economic downturns",
    "valid": false
  },
  {
    "input": "We expect adjusted operating margins to remain around the 30% range over the next five years as payments (which should accelerate as eBay's operating agreement with PayPal has expired) and operating leverage offset other experience investments.",
    "output": "[Cause] payments should accelerate as eBay's operating agreement with PayPal has expired, operating leverage [Relation] enable [Effect] expect adjusted operating margins to remain around the 30% range over the next five years",
    "gold": "[Cause] payments (which should accelerate as eBay's operating agreement with PayPal has expired) and operating leverage offset other experience investments [Relation] cause [Effect] We expect adjusted operating margins to remain around the 30% range over the next five years",
    "valid": false
  },
  {
    "input": "While this change has not hurt RELX thus far, it is an example of how easily business models can change, and when you operate a division that generates operating margins of around 37%, there is always a danger that the next change of model may come at your expense.",
    "output": "[Cause] the change of business models [Relation] cause [Effect] there is always a danger that the next change of model may come at your expense",
    "gold": "[Cause] you operate a division that generates operating margins of around 37% [Relation] cause [Effect] the next change of model may come at your expense",
    "valid": false
  },
  {
    "input": "Operating in offshore environments exposes Total to the risk of large oil spills that could result in material losses through lost revenue, fines or penalties, or loss of license to operate.",
    "output": "[Cause] Operating in offshore environments [Relation] cause [Effect] risk of large oil spills that could result in material losses",
    "gold": "[Cause] the risk of large oil spills [Relation] cause [Effect] material losses through lost revenue, fines or penalties, or loss of license to operate",
    "valid": false
  },
  {
    "input": "M&T derives about two thirds of its income from net interest income, and with the bank's cheaper deposit base, it is more sensitive to movements in interest rates.",
    "output": "[Cause] M&T derives about two thirds of its income from net interest income [Relation] cause [Effect] it is more sensitive to movements in interest rates",
    "gold": "[Cause] with the bank's cheaper deposit base, it is more sensitive to movements in interest rates [Relation] enable [Effect] M&T derives about two thirds of its income from net interest income",
    "valid": false
  },
  {
    "input": "The position it forged as a trusted supplier through strong relationships with governments allow it, and other large incumbents, to identify emerging trends and opportunities in the defense market. This insight affords the firm the ability to fund early stage research into next-generation technologies that is further developed with customer funding.",
    "output": "[Cause] The position it forged as a trusted supplier through strong relationships with governments [Relation] enable [Effect] allows it, and other large incumbents, to identify emerging trends and opportunities in the defense market",
    "gold": "[Cause] The position it forged as a trusted supplier through strong relationships with governments allow it, and other large incumbents, to identify emerging trends and opportunities in the defense market [Relation] enable [Effect] affords the firm the ability to fund early stage research into next-generation technologies that is further developed with customer funding",
    "valid": false
  },
  {
    "input": "We contend that the chain's rapidly changing product assortment encourages repeat customer visits while reducing the risk of potential fashion trend- or weather-related missteps (as the assortment quickly turns over and Burlington buys inventory year-round).",
    "output": "[Cause] chain's rapidly changing product assortment [Relation] enable [Effect] encourages repeat customer visits and reduces the risk of potential fashion trend- or weather-related missteps",
    "gold": "[Cause] the chain's rapidly changing product assortment [Relation] enable [Effect] encourages repeat customer visits while reducing the risk of potential fashion trend- or weather-related missteps",
    "valid": false
  },
  {
    "input": "We contend that the chain's rapidly changing product assortment encourages repeat customer visits while reducing the risk of potential fashion trend- or weather-related missteps (as the assortment quickly turns over and Burlington buys inventory year-round).",
    "output": "[Cause] the chain's rapidly changing product assortment [Relation] enable [Effect] encourages repeat customer visits while reducing the risk of potential fashion trend- or weather-related missteps",
    "gold": "[Cause] the assortment quickly turns over and Burlington buys inventory year-round [Relation] enable [Effect] reducing the risk of potential fashion trend- or weather-related missteps",
    "valid": false
  },
  {
    "input": "With appeal to a wide variety of consumers, we anticipate the concept should translate well to new markets as the chain grows toward its 2,500-unit target (from 900 at the end of fiscal 2019).",
    "output": "[Cause] appeal to a wide variety of consumers [Relation] cause [Effect] the concept should translate well to new markets",
    "gold": "[Cause] the chain grows toward its 2,500-unit target [Relation] enable [Effect] the concept should translate well to new markets",
    "valid": false
  },
  {
    "input": "InterContinental's unit growth is lowered by the company's focus on brand quality, which leads to annual closures of 2%-3% of its existing rooms.",
    "output": "[Cause] the company's focus on brand quality [Relation] prevent [Effect] InterContinental's unit growth is lowered",
    "gold": "[Cause] InterContinental's unit growth is lowered by the company's focus on brand quality [Relation] cause [Effect] annual closures of 2%-3% of its existing rooms",
    "valid": false
  },
  {
    "input": "Intermodal was already grappling with heavy competition from the trucking sector over the past year, and that has worsened on the back of persistently low truckload rates thus far in 2020.",
    "output": "[Cause] heavy competition from the trucking sector over the past year [Relation] cause [Effect] Intermodal was already grappling with heavy competition",
    "gold": "[Cause] on the back of persistently low truckload rates thus far in 2020 [Relation] cause [Effect] has worsened",
    "valid": false
  },
  {
    "input": "Even after the improvement in operations since emerging from bankruptcy in 2009, high feed costs led to an operating loss in 2011, with the company reporting an adjusted operating margin of negative 4.6%. As such, while we forecast an average of 12% ROICs on average annually over the next five years, the actual results reported will probably be more volatile.",
    "output": "[Cause] high feed costs [Relation] cause [Effect] operating loss in 2011, with the company reporting an adjusted operating margin of negative 4.6%",
    "gold": "[Cause] Even after the improvement in operations since emerging from bankruptcy in 2009, high feed costs led to an operating loss in 2011, with the company reporting an adjusted operating margin of negative 4.6% [Relation] cause [Effect] while we forecast an average of 12% ROICs on average annually over the next five years, the actual results reported will probably be more volatile",
    "valid": false
  },
  {
    "input": "As with most exploration and production firms, a deteriorating outlook for oil and natural gas prices would pressure Hess' profitability, reduce cash flows, and drive up financial leverage.",
    "output": "[Cause] a deteriorating outlook for oil and natural gas prices [Relation] cause [Effect] pressure Hess' profitability, reduce cash flows, and drive up financial leverage",
    "gold": "[Cause] a deteriorating outlook for oil and natural gas prices [Relation] cause [Effect] pressure Hess' profitability, reduce cash flows, and drive up financial leverage",
    "valid": true
  },
  {
    "input": "Rituxan remains the standard of care in several forms of hematological cancer, but Gazyva's superior data in leukemia and certain forms of lymphoma, as well as potential in lupus, should help counter this threat to the profit share.",
    "output": "[Cause] Gazyva's superior data in leukemia and certain forms of lymphoma, as well as potential in lupus [Relation] counter [Effect] help counter the threat to the profit share of Rituxan",
    "gold": "[Cause] certain forms of lymphoma| potential in lupus| superior data in leukemia [Relation] enable [Effect] help counter this threat to the profit share",
    "valid": false
  },
  {
    "input": "Lowe's profitability has already begun to benefit from institutionalized processes that were previously inefficient, including labor management, reset efforts, and inventory controls, helping squeeze additional operating margin expansion out of the business ahead.",
    "output": "[Cause] institutionalized processes that were previously inefficient, including labor management, reset efforts, and inventory controls [Relation] enable [Effect] Lowe's profitability has already begun to benefit",
    "gold": "[Cause] institutionalized processes that were previously inefficient [Relation] cause [Effect] squeeze additional operating margin expansion out of the business ahead.",
    "valid": false
  },
  {
    "input": "The more Aptiv adds business based on algorithmic technology, the less capital-intense the company can become. Consequently, we expect Aptiv's operating leverage to slowly but steadily become less dependent on volume and operating leverage, relative to other auto parts suppliers whose products do not depend on software development.",
    "output": "[Cause] The more Aptiv adds business based on algorithmic technology [Relation] enable [Effect] the less capital-intense the company can become",
    "gold": "[Cause] The more Aptiv adds business based on algorithmic technology, the less capital-intense the company can become [Relation] cause [Effect] Aptiv's operating leverage to slowly but steadily become less dependent on volume and operating leverage, relative to other auto parts suppliers whose products do not depend on software development",
    "valid": false
  },
  {
    "input": "Fourth, Mattel remains exposed to input costs like resins, which are difficult to predict and hard to hedge and can affect gross margin.",
    "output": "[Cause] Mattel remains exposed to input costs like resins [Relation] cause [Effect] can affect gross margin",
    "gold": "[Cause] difficult to predict and hard to hedge and can affect gross margin [Relation] cause [Effect] Mattel remains exposed to input costs like resins",
    "valid": false
  },
  {
    "input": "The firm could also see lower costs from an improved supply chain and distribution network (as a result of direct sourcing and furniture delivery operations) as well as higher productivity of its store fleet (as underperforming locations close).",
    "output": "[Cause] direct sourcing and furniture delivery operations | underperforming locations close [Relation] enable | prevent [Effect] lower costs from an improved supply chain and distribution network | higher productivity of its store fleet",
    "gold": "[Cause] direct sourcing and furniture delivery operations [Relation] cause [Effect] an improved supply chain and distribution network",
    "valid": false
  },
  {
    "input": "The firm could also see lower costs from an improved supply chain and distribution network (as a result of direct sourcing and furniture delivery operations) as well as higher productivity of its store fleet (as underperforming locations close).",
    "output": "[Cause] improved supply chain and distribution network (as a result of direct sourcing and furniture delivery operations), higher productivity of its store fleet (as underperforming locations close) [Relation] enable [Effect] lower costs",
    "gold": "[Cause] underperforming locations close [Relation] cause [Effect] higher productivity of its store fleet",
    "valid": false
  },
  {
    "input": "Flash technology, specifically in the form of solid-state drives, or SSDs, have performance improvements over HDDs that have resulted in an ongoing shift toward SSDs for mass storage needs in PCs and servers.",
    "output": "[Cause] performance improvements of solid-state drives (SSDs) over HDDs [Relation] cause [Effect] an ongoing shift toward SSDs for mass storage needs in PCs and servers",
    "gold": "[Cause] Flash technology, specifically in the form of solid-state drives, or SSDs, have performance improvements over HDDs [Relation] cause [Effect] an ongoing shift toward SSDs for mass storage needs in PCs and servers",
    "valid": false
  },
  {
    "input": "From a fundamental standpoint, near-term profitability remains strong, as pandemic-induced distortions have facilitated reductions in advertising and other corporate expenses.",
    "output": "[Cause] pandemic-induced distortions have facilitated reductions in advertising and other corporate expenses [Relation] enable [Effect] near-term profitability remains strong",
    "gold": "[Cause] pandemic-induced distortions have facilitated reductions in advertising and other corporate expenses [Relation] cause [Effect] near-term profitability remains strong",
    "valid": true
  },
  {
    "input": "Emission solutions continue to reduce diesel emissions, battery electric is a viable solution for regional-haul operations, and fuel cells have the potential to power long-haul operations; which may limit the adoption of LNG trucks, particularly outside of Europe.",
    "output": "[Cause] emission solutions continue to reduce diesel emissions, battery electric is a viable solution for regional-haul operations, and fuel cells have the potential to power long-haul operations [Relation] cause [Effect] may limit the adoption of LNG trucks, particularly outside of Europe",
    "gold": "[Cause] limit the adoption of LNG trucks [Relation] cause [Effect] fuel cells have the potential to power long-haul operations",
    "valid": false
  },
  {
    "input": "Current and planned capacity is primarily in solar, but Total is pushing further into floating offshore wind, which should drive growth beyond 2025 and where it can leverage offshore capabilities from its oil and gas operations.",
    "output": "[Cause] Total is pushing further into floating offshore wind [Relation] enable [Effect] should drive growth beyond 2025",
    "gold": "[Cause] Total is pushing further into floating offshore wind [Relation] cause [Effect] drive growth beyond 2025 and where it can leverage offshore capabilities from its oil and gas operations",
    "valid": false
  },
  {
    "input": "We're anticipating a minor step up in capital expenditures as a percent of sales in the short term, as the company increases missile production capacity.",
    "output": "[Cause] the company increases missile production capacity [Relation] cause [Effect] a minor step up in capital expenditures as a percent of sales in the short term",
    "gold": "[Cause] the company increases missile production capacity [Relation] cause [Effect] a minor step up in capital expenditures as a percent of sales in the short term",
    "valid": true
  },
  {
    "input": "We now forecast RH's terminal operating margin at 22.2% (21.6% prior), reflecting the increasing possibility that the company's evolution to an integrated luxury brand could offer the ability to tap into a larger total addressable market, rather than solely a furniture-seeking cohort.",
    "output": "[Cause] the company's evolution to an integrated luxury brand [Relation] enable [Effect] offer the ability to tap into a larger total addressable market, rather than solely a furniture-seeking cohort",
    "gold": "[Cause] RH's terminal operating margin at 22.2% (21.6% prior) [Relation] cause [Effect] the increasing possibility that the company's evolution to an integrated luxury brand could offer the ability to tap into a larger total addressable market, rather than solely a furniture-seeking cohort",
    "valid": false
  },
  {
    "input": "The company finds a receptive audience with large pharma clients, which see sizable benefits in the simplified procurement process Thermo Fisher offers. As a result, the firm's penetration and entrenchment within the pharma end market (switching costs) are expanding, which we expect to continue.",
    "output": "[Cause] large pharma clients see sizable benefits in the simplified procurement process Thermo Fisher offers [Relation] enable [Effect] The company finds a receptive audience",
    "gold": "[Cause] The company finds a receptive audience with large pharma clients, which see sizable benefits in the simplified procurement process Thermo Fisher offers [Relation] cause [Effect] the firm's penetration and entrenchment within the pharma end market (switching costs) are expanding, which we expect to continue",
    "valid": false
  },
  {
    "input": "International organic revenue growth on existing towers averaged about 10% annually over the five years preceding 2020, when it dipped to 7.3% due in part to COVID-19-induced carrier spending slowdowns.",
    "output": "[Cause] COVID-19-induced carrier spending slowdowns [Relation] cause [Effect] International organic revenue growth on existing towers dipped to 7.3%",
    "gold": "[Cause] COVID-19-induced carrier spending slowdowns [Relation] cause [Effect] International organic revenue growth on existing towers averaged about 10% annually",
    "valid": false
  },
  {
    "input": "Effectively, franchisees get young technicians hooked on Snap-on by making them reliant on credit while providing exceptional service that includes same-day warranty replacements.",
    "output": "[Cause] franchisees making young technicians reliant on credit [Relation] enable [Effect] getting them hooked on Snap-on",
    "gold": "[Cause] reliant on credit [Relation] cause [Effect] franchisees get young technicians hooked on Snap-on",
    "valid": false
  },
  {
    "input": "Effectively, franchisees get young technicians hooked on Snap-on by making them reliant on credit while providing exceptional service that includes same-day warranty replacements.",
    "output": "[Cause] franchisees making young technicians reliant on credit [Relation] cause [Effect] getting them hooked on Snap-on",
    "gold": "[Cause] providing exceptional service that includes same-day warranty replacements [Relation] cause [Effect] franchisees get young technicians hooked on Snap-on",
    "valid": false
  },
  {
    "input": "In the 2023 to 2025 time period, we think the company can eke out incremental improvement as it further rationalizes its manufacturing assets.",
    "output": "[Cause] further rationalizes its manufacturing assets [Relation] cause [Effect] the company can eke out incremental improvement",
    "gold": "[Cause] the company can eke out incremental improvement [Relation] cause [Effect] rationalizes its manufacturing assets",
    "valid": false
  },
  {
    "input": "The firm's direct-to-consumer plans around HBO Max are gaining momentum, which should nicely augment and eventually supplant traditional distribution mechanisms.",
    "output": "[Cause] The firm's direct-to-consumer plans around HBO Max are gaining momentum [Relation] cause [Effect] nicely augment and eventually supplant traditional distribution mechanisms",
    "gold": "[Cause] The firm's direct-to-consumer plans around HBO Max are gaining momentum [Relation] enable [Effect] nicely augment and eventually supplant traditional distribution mechanisms",
    "valid": true
  },
  {
    "input": "For reference, we utilize 2019 metrics given the lack of comparability the 2020 fiscal year offers due to the pandemic.",
    "output": "[Cause] lack of comparability the 2020 fiscal year offers due to the pandemic [Relation] cause [Effect] utilize 2019 metrics for reference",
    "gold": "[Cause] the lack of comparability the 2020 fiscal year offers due to the pandemic [Relation] cause [Effect] we utilize 2019 metrics",
    "valid": false
  },
  {
    "input": "Our fair value estimate includes a $7.25 per share deduction to account for our estimate of future claims that Edison will have to pay out to victims of the 2017-18 wildfires and mudslides, net of tax and insurance recoveries.",
    "output": "[Cause] estimate of future claims that Edison will have to pay out to victims of the 2017-18 wildfires and mudslides, net of tax and insurance recoveries [Relation] cause [Effect] $7.25 per share deduction in the fair value estimate",
    "gold": "[Cause] account for our estimate of future claims that Edison will have to pay out to victims of the 2017-18 wildfires and mudslides, net of tax and insurance recoveries [Relation] cause [Effect] Our fair value estimate includes a $7.25 per share deduction",
    "valid": false
  },
  {
    "input": "A decade of consolidation in the corrugated packaging industry has allowed WestRock and its peers to push more aggressively on prices, resulting in a period of higher margins.",
    "output": "[Cause] consolidation in the corrugated packaging industry [Relation] enable [Effect] WestRock and its peers can push more aggressively on prices",
    "gold": "[Cause] WestRock and its peers to push more aggressively on prices [Relation] enable [Effect] a period of higher margins",
    "valid": false
  },
  {
    "input": "In the second half of 2016, ON Semiconductor purchased Fairchild Semiconductors, which significantly increased the firm's discrete semiconductor sales, boosting its position in voltage regulators and IGBT power transistors, for example, and making it the number-two player in the discrete market behind Infineon.",
    "output": "[Cause] ON Semiconductor purchased Fairchild Semiconductors [Relation] cause [Effect] significantly increased the firm's discrete semiconductor sales, boosting its position in voltage regulators and IGBT power transistors",
    "gold": "[Cause] ON Semiconductor purchased Fairchild Semiconductors [Relation] enable [Effect] making it the number-two player in the discrete market behind Infineon",
    "valid": false
  },
  {
    "input": "As artificial intelligence progresses, we expect Lam and its peers will be able to optimize chamber, tool, and fleet performance leading to less variability, higher yields, and thus more value for the customer.",
    "output": "[Cause] artificial intelligence progresses [Relation] enable [Effect] Lam and its peers will be able to optimize chamber, tool, and fleet performance",
    "gold": "[Cause] artificial intelligence progresses [Relation] enable [Effect] Lam and its peers will be able to optimize chamber, tool, and fleet performance",
    "valid": true
  },
  {
    "input": "As artificial intelligence progresses, we expect Lam and its peers will be able to optimize chamber, tool, and fleet performance leading to less variability, higher yields, and thus more value for the customer.",
    "output": "[Cause] artificial intelligence progresses [Relation] enable [Effect] Lam and its peers will be able to optimize chamber, tool, and fleet performance leading to less variability, higher yields",
    "gold": "[Cause] Lam and its peers will be able to optimize chamber, tool, and fleet performance [Relation] enable [Effect] less variability, higher yields, and thus more value for the customer",
    "valid": false
  },
  {
    "input": "We also expect comp growth to come through new menu items and daypart expansion, delivery (aided by a second make-line for digital ordering at many locations), \"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"Chipotlane\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\" pickup window locations and other alternative restaurant formats (which should allow for unit growth acceleration in later years), and employee investments.",
    "output": "[Cause] new menu items and daypart expansion, delivery (aided by a second make-line for digital ordering at many locations), \"Chipotlane\" pickup window locations and other alternative restaurant formats, and employee investments [Relation] enable [Effect] comp growth and unit growth acceleration in later years",
    "gold": "[Cause] new menu items and daypart expansion, delivery (aided by a second make-line for digital ordering at many locations), \"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"Chipotlane\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\" pickup window locations and other alternative restaurant formats (which should allow for unit growth acceleration in later years), and employee investments [Relation] enable [Effect] comp growth to come",
    "valid": false
  },
  {
    "input": "As a diversified industrial company, Crane is exposed to the overall health of the global economy, including a potential slowdown in industrial production and GDP growth as well as cyclicality in its end markets.",
    "output": "[Cause] overall health of the global economy, potential slowdown in industrial production and GDP growth, cyclicality in its end markets [Relation] cause [Effect] Crane being exposed to these factors",
    "gold": "[Cause] a diversified industrial company [Relation] cause [Effect] Crane is exposed to the overall health of the global economy",
    "valid": false
  },
  {
    "input": "Switching would require substantial effort in redesigning the aircraft to accommodate the new product, production delays for recertification, updated maintenance procedures, and since many non-engine components of aircraft are not material relative to the multi-million dollar aircraft, would not render material cost savings relative to the aircraft.",
    "output": "[Cause] switching to a new product [Relation] cause [Effect] ",
    "gold": "[Cause] many non-engine components of aircraft are not material relative to the multi-million dollar aircraft [Relation] cause [Effect] render material cost savings relative to the aircraft",
    "valid": false
  },
  {
    "input": "Successful commercialization of diabetes products also requires a strong sales presence, such as Novo's 15,000-plus sales employees scattered across the globe.",
    "output": "[Cause] Novo's 15,000-plus sales employees scattered across the globe [Relation] enable [Effect] Successful commercialization of diabetes products",
    "gold": "[Cause] a strong sales presence [Relation] enable [Effect] Successful commercialization of diabetes products",
    "valid": false
  },
  {
    "input": "Nevertheless, the current entity combines the heft of Cott's former water subsidiaries with the legacy Primo business, and as a pure-play water provider, we expect a more robust top-line trajectory and a structurally improved margin profile.",
    "output": "[Cause] the current entity combines the heft of Cott's former water subsidiaries with the legacy Primo business [Relation] enable [Effect] we expect a more robust top-line trajectory and a structurally improved margin profile",
    "gold": "[Cause] the current entity combines the heft of Cott's former water subsidiaries with the legacy Primo business [Relation] cause [Effect] a pure-play water provider",
    "valid": false
  },
  {
    "input": "Nevertheless, the current entity combines the heft of Cott's former water subsidiaries with the legacy Primo business, and as a pure-play water provider, we expect a more robust top-line trajectory and a structurally improved margin profile.",
    "output": "[Cause] the current entity combines the heft of Cott's former water subsidiaries with the legacy Primo business [Relation] cause [Effect] we expect a more robust top-line trajectory and a structurally improved margin profile",
    "gold": "[Cause] a pure-play water provider [Relation] cause [Effect] a more robust top-line trajectory and a structurally improved margin profile",
    "valid": false
  },
  {
    "input": "Brand recognition in this population along with a low-priced offering has helped Centene build the leading market share on the individual exchanges.",
    "output": "[Cause] Brand recognition in this population along with a low-priced offering [Relation] cause [Effect] helped Centene build the leading market share on the individual exchanges",
    "gold": "[Cause] Brand recognition in this population along with a low-priced offering [Relation] cause [Effect] helped Centene build the leading market share on the individual exchanges",
    "valid": true
  },
  {
    "input": "As the ECR segment had high exposure to volatile oil and gas prices, and its operating margins have long lagged those of the remaining two segments, we think the divestment will lower the risk and boost the margins of Jacobs' portfolio.",
    "output": "[Cause] high exposure to volatile oil and gas prices, and its operating margins have long lagged those of the remaining two segments [Relation] cause [Effect] divestment will lower the risk and boost the margins of Jacobs' portfolio",
    "gold": "[Cause] the ECR segment had high exposure to volatile oil and gas prices [Relation] cause [Effect] the divestment will lower the risk and boost the margins of Jacobs' portfolio",
    "valid": false
  },
  {
    "input": "Customers are generally reluctant to switch FPGA vendors, which would require their engineers to learn new software and design tools.",
    "output": "[Cause] Customers are generally reluctant to switch FPGA vendors [Relation] prevent [Effect] require their engineers to learn new software and design tools",
    "gold": "[Cause] require their engineers to learn new software and design tools [Relation] cause [Effect] Customers are generally reluctant to switch FPGA vendors",
    "valid": false
  },
  {
    "input": "With more ads, Criteo gathered more data which the firm utilized to make its display ads more effective, creating value for clients and helping to bring in more clients and campaigns.",
    "output": "[Cause] With more ads, Criteo gathered more data [Relation] enable [Effect] the firm utilized the data to make its display ads more effective",
    "gold": "[Cause] With more ads, Criteo gathered more data [Relation] enable [Effect] creating value for clients and helping to bring in more clients and campaigns",
    "valid": false
  },
  {
    "input": "However, Range is still not generating free cash flow by our estimates, which means the firm needs higher prices to generate free cash flows and earn its cost of capital.",
    "output": "[Cause] Range is not generating free cash flow by our estimates [Relation] require [Effect] the firm needs higher prices to generate free cash flows and earn its cost of capital",
    "gold": "[Cause] Range is still not generating free cash flow [Relation] cause [Effect] the firm needs higher prices to generate free cash flows and earn its cost of capital",
    "valid": false
  },
  {
    "input": "We think PFG's channel diversity, vast adoption of carryout, and the eventual containment of the COVID-19 virus (most likely after the dissemination of vaccines in 2021), should return PFG' organic revenue to prepandemic levels by 2022.",
    "output": "[Cause] PFG's channel diversity, vast adoption of carryout, and the eventual containment of the COVID-19 virus (most likely after the dissemination of vaccines in 2021) [Relation] enable [Effect] return PFG' organic revenue to prepandemic levels by 2022",
    "gold": "[Cause] PFG's channel diversity, vast adoption of carryout, and the eventual containment of the COVID-19 virus (most likely after the dissemination of vaccines in 2021) [Relation] cause [Effect] return PFG' organic revenue to prepandemic levels by 2022",
    "valid": true
  },
  {
    "input": "In our base case, we assume short-term rent growth and re-leasing spreads decline due to challenges arising from the coronavirus outbreak and significant Class A supply additions in Manhattan over the past few years. This is reflected in weak rental growth, before the market ultimately recovers and eventually settles at contractual growth of just under 2% by 2030.",
    "output": "[Cause] challenges arising from the coronavirus outbreak and significant Class A supply additions in Manhattan over the past few years [Relation] cause [Effect] short-term rent growth and re-leasing spreads decline, weak rental growth",
    "gold": "[Cause] short-term rent growth and re-leasing spreads decline due to challenges arising from the coronavirus outbreak and significant Class A supply additions in Manhattan over the past few years [Relation] cause [Effect] weak rental growth, before the market ultimately recovers and eventually settles at contractual growth of just under 2% by 2030",
    "valid": false
  },
  {
    "input": "We continue to expect uneven near-term industry guest traffic volatility as consumers adjust to restaurant operating changes, a reduction in government assistance, and the return of COVID-19-containment restrictions.",
    "output": "[Cause] consumers adjust to restaurant operating changes, a reduction in government assistance, and the return of COVID-19-containment restrictions [Relation] cause [Effect] uneven near-term industry guest traffic volatility",
    "gold": "[Cause] consumers adjust to restaurant operating changes, a reduction in government assistance, and the return of COVID-19-containment restrictions [Relation] cause [Effect] uneven near-term industry guest traffic volatility",
    "valid": true
  },
  {
    "input": "We believe that cybersecurity threats should perpetually increase while becoming further sophisticated, as more data is created and dispersed away from centralized data centers.",
    "output": "[Cause] more data is created and dispersed away from centralized data centers [Relation] cause [Effect] cybersecurity threats should perpetually increase while becoming further sophisticated",
    "gold": "[Cause] more data is created and dispersed away from centralized data centers [Relation] cause [Effect] cybersecurity threats should perpetually increase while becoming further sophisticated",
    "valid": true
  },
  {
    "input": "The proposed Labor Party changes to the favourable taxation of property, which would likely have impacted demand for property investment and property prices, were shelved when Labor surprisingly lost the May 2019 Federal election.",
    "output": "[Cause] proposed Labor Party changes to the favourable taxation of property [Relation] cause [Effect] likely impact on demand for property investment and property prices",
    "gold": "[Cause] Labor surprisingly lost the May 2019 Federal election [Relation] cause [Effect] The proposed Labor Party changes to the favourable taxation of property, which would likely have impacted demand for property investment and property prices, were shelved",
    "valid": false
  },
  {
    "input": "In addition, with the FTTP buildout now nearing completion (it won't be economical to build fiber over 100% of its footprint), Telus will be able to significantly reduce its wireline capital spending over the next few years.",
    "output": "[Cause] FTTP buildout nearing completion (it won't be economical to build fiber over 100% of its footprint) [Relation] enable [Effect] Telus will be able to significantly reduce its wireline capital spending over the next few years",
    "gold": "[Cause] the FTTP buildout now nearing completion [Relation] cause [Effect] significantly reduce its wireline capital spending over the next few years",
    "valid": false
  },
  {
    "input": "Even for categories not facing these headwinds (such as yogurt), General Mills' Yoplait brand has lost significant share as it was late to respond to the shift to Greek yogurt, although now this trend is reversing and General Mills' share in yogurt has stabilized.",
    "output": "[Cause] Yoplait brand was late to respond to the shift to Greek yogurt [Relation] cause [Effect] General Mills' Yoplait brand has lost significant share in the yogurt category",
    "gold": "[Cause] it was late to respond to the shift to Greek yogurt [Relation] cause [Effect] General Mills' Yoplait brand has lost significant share",
    "valid": false
  },
  {
    "input": "It also gives its customers suggestions and solutions on the best way to operate the machinery efficiently. As a result, Komatsu was named as one of the Lowest Cost of Ownership Award 2018 winners by EquipmentWatch along with Caterpillar and Deere, based on its calculations on the five-year total cost of ownership of different models across the different heavy construction equipment types.",
    "output": "[Cause] Komatsu gives its customers suggestions and solutions on the best way to operate the machinery efficiently [Relation] enable [Effect] Komatsu was named as one of the Lowest Cost of Ownership Award 2018 winners",
    "gold": "[Cause] It also gives its customers suggestions and solutions on the best way to operate the machinery efficiently [Relation] cause [Effect] Komatsu was named as one of the Lowest Cost of Ownership Award 2018 winners by EquipmentWatch along with Caterpillar and Deere, based on its calculations on the five-year total cost of ownership of different models across the different heavy construction equipment types",
    "valid": false
  },
  {
    "input": "Brand loyalty in some cases stretches back for multiple generations as farmers often call themselves 'green' or 'red' farm equipment owners.",
    "output": "[Cause] farmers often call themselves 'green' or 'red' farm equipment owners [Relation] cause [Effect] Brand loyalty in some cases stretches back for multiple generations",
    "gold": "[Cause] farmers often call themselves 'green' or 'red' farm equipment owners [Relation] cause [Effect] Brand loyalty in some cases stretches back for multiple generations",
    "valid": true
  },
  {
    "input": "Additionally, the incorporation of a variety of other ITOM features, such as IT Asset Management, in IT Business Management has made the company's solution broader and focused on solving business problems rather than just selling applications.",
    "output": "[Cause] incorporation of a variety of other ITOM features, such as IT Asset Management, in IT Business Management [Relation] enable [Effect] made the company's solution broader and focused on solving business problems",
    "gold": "[Cause] the incorporation of a variety of other ITOM features, such as IT Asset Management, in IT Business Management [Relation] enable [Effect] the company's solution broader and focused on solving business problems rather than just selling applications",
    "valid": false
  },
  {
    "input": "We also see governance risk from the large investment and cash outlay for the Lunar projects given the uncertainty on whether these investments will create long-term value for shareholders.",
    "output": "[Cause] the uncertainty on whether these investments will create long-term value for shareholders [Relation] cause [Effect] governance risk from the large investment and cash outlay for the Lunar projects",
    "gold": "[Cause] the uncertainty on whether these investments will create long-term value for shareholders [Relation] cause [Effect] governance risk from the large investment and cash outlay for the Lunar projects",
    "valid": true
  },
  {
    "input": "We suspect that a cooling housing market will dampen growth in mortgages, and we anticipate higher credit costs as cyclical lows from 2019 begin to normalize.",
    "output": "[Cause] a cooling housing market [Relation] cause [Effect] dampen growth in mortgages",
    "gold": "[Cause] cyclical lows from 2019 begin to normalize [Relation] cause [Effect] higher credit costs",
    "valid": false
  },
  {
    "input": "We expect annual earnings growth at Georgia Power to accelerate to high-single digits after Vogtle is completed and penalty returns on equity fade.",
    "output": "[Cause] Vogtle is completed and penalty returns on equity fade [Relation] cause [Effect] annual earnings growth at Georgia Power to accelerate to high-single digits",
    "gold": "[Cause] Vogtle is completed and penalty returns on equity fade [Relation] cause [Effect] annual earnings growth at Georgia Power to accelerate to high-single digits",
    "valid": true
  },
  {
    "input": "Healthpeak has established itself as a desirable partner with some of the top hospitals, as 94% of its medical office building assets are affiliated with a health system.",
    "output": "[Cause] 94% of its medical office building assets are affiliated with a health system [Relation] enable [Effect] Healthpeak has established itself as a desirable partner with some of the top hospitals",
    "gold": "[Cause] 94% of its medical office building assets are affiliated with a health system [Relation] cause [Effect] Healthpeak has established itself as a desirable partner with some of the top hospitals",
    "valid": true
  },
  {
    "input": "Given the substantial costs at failure, we don't expect the military will switch its provider for missile defense systems any day soon.",
    "output": "[Cause] the substantial costs at failure [Relation] prevent [Effect] the military will not switch its provider for missile defense systems any day soon",
    "gold": "[Cause] the substantial costs at failure [Relation] cause [Effect] we don't expect the military will switch its provider for missile defense systems any day soon",
    "valid": false
  },
  {
    "input": "Following Wesco's third-quarter results, we increased our fair value estimate 10% to $100 per share primarily due to our upwardly revised cost synergy assumptions but also lower share count.",
    "output": "[Cause] upwardly revised cost synergy assumptions, lower share count [Relation] cause [Effect] increased fair value estimate 10% to $100 per share",
    "gold": "[Cause] upwardly revised cost synergy [Relation] cause [Effect] lower share count",
    "valid": false
  },
  {
    "input": "Department of Justice wrapped up its investigation into off-label use of the Infuse product without issuing any charges, the controversy around the investigation added uncertainty and contributed to a decline in Infuse sales during that period.",
    "output": "[Cause] controversy around the investigation [Relation] cause [Effect] contributed to a decline in Infuse sales during that period",
    "gold": "[Cause] Department of Justice wrapped up its investigation into off-label use of the Infuse product without issuing any charges [Relation] cause [Effect] the controversy around the investigation added uncertainty and contributed to a decline in Infuse sales during that period",
    "valid": false
  },
  {
    "input": "During periods of rapid fuel price increases, truckload carriers often see modest temporary margin headwinds because of the time lag associated with adjusting fuel surcharges to shippers.",
    "output": "[Cause] rapid fuel price increases [Relation] cause [Effect] truckload carriers often see modest temporary margin headwinds",
    "gold": "[Cause] the time lag associated with adjusting fuel surcharges to shippers [Relation] cause [Effect] During periods of rapid fuel price increases, truckload carriers often see modest temporary margin headwinds",
    "valid": false
  },
  {
    "input": "State and federal regulators grant PSE&amp;G exclusive rights to charge customers rates that allow it to earn a fair return on and return of the capital it invests to build, operate, and maintain its distribution networks.",
    "output": "[Cause] State and federal regulators grant PSE&G exclusive rights [Relation] enable [Effect] charge customers rates that allow it to earn a fair return on and return of the capital it invests to build, operate, and maintain its distribution networks",
    "gold": "[Cause] State and federal regulators grant PSE&amp;G exclusive rights to charge customers rates [Relation] cause [Effect] earn a fair return on and return of the capital it invests to build, operate, and maintain its distribution networks",
    "valid": false
  },
  {
    "input": "However, the cyclical supply and demand nature of commodities and related pricing can have an indirect impact on the business as shippers may choose to accelerate or delay certain projects.",
    "output": "[Cause] the cyclical supply and demand nature of commodities and related pricing [Relation] have an indirect impact [Effect] shippers may choose to accelerate or delay certain projects",
    "gold": "[Cause] shippers may choose to accelerate or delay certain projects [Relation] cause [Effect] the cyclical supply and demand nature of commodities and related pricing can have an indirect impact on the business",
    "valid": false
  },
  {
    "input": "State and federal regulators typically grant regulated utilities exclusive rights to charge customers rates that allow the utilities to earn a fair return on and of the capital they invest to build, operate, and maintain their distribution networks.",
    "output": "[Cause] State and federal regulators typically grant regulated utilities exclusive rights to charge customers rates [Relation] allow [Effect] allow the utilities to earn a fair return on and of the capital they invest to build, operate, and maintain their distribution networks",
    "gold": "[Cause] State and federal regulators typically grant regulated utilities exclusive rights to charge customers rates [Relation] enable [Effect] the utilities to earn a fair return on and of the capital they invest to build, operate, and maintain their distribution networks.",
    "valid": false
  },
  {
    "input": "Firms such as Jones Lang LaSalle increasingly bundle services to provide a consolidated suite of offerings. This benefits JLL in that it can leverage certain parts of its business such as research and consulting, and it benefits clients that receive a more customized and tailored experience.",
    "output": "[Cause] Firms such as Jones Lang LaSalle increasingly bundle services to provide a consolidated suite of offerings [Relation] enable [Effect] JLL can leverage certain parts of its business such as research and consulting",
    "gold": "[Cause] Firms such as Jones Lang LaSalle increasingly bundle services to provide a consolidated suite of offerings [Relation] enable [Effect] leverage certain parts of its business such as research and consulting, and it benefits clients that receive a more customized and tailored experience",
    "valid": false
  },
  {
    "input": "Infineon also has hefty manufacturing capacity for its products, which may lead to a higher fixed-cost structure and may cause significant margin compression when supply far exceeds demand.",
    "output": "[Cause] Infineon has hefty manufacturing capacity for its products [Relation] cause [Effect] may lead to a higher fixed-cost structure and may cause significant margin compression when supply far exceeds demand",
    "gold": "[Cause] Infineon also has hefty manufacturing capacity for its products [Relation] cause [Effect] a higher fixed-cost structure",
    "valid": false
  },
  {
    "input": "Pursuit has 50 dealers, a result of the smaller market it serves, and also sees healthy brand loyalty, with relationships averaging about 12 years.",
    "output": "[Cause] Pursuit serves a smaller market [Relation] cause [Effect] Pursuit has 50 dealers",
    "gold": "[Cause] the smaller market [Relation] cause [Effect] Pursuit has 50 dealers| sees healthy brand loyalty, with relationships averaging about 12 years",
    "valid": false
  },
  {
    "input": "Only Samsung, which holds the leading share of both the NAND and DRAM memory markets, has been able to squeak out a cost advantage with its unparalleled scale.",
    "output": "[Cause] Samsung holds the leading share of both the NAND and DRAM memory markets [Relation] cause [Effect] Samsung has been able to squeak out a cost advantage",
    "gold": "[Cause] Only Samsung, which holds the leading share of both the NAND and DRAM memory markets [Relation] enable [Effect] squeak out a cost advantage with its unparalleled scale",
    "valid": false
  },
  {
    "input": "China Unicom has also made a strong push in mobiles in 2017 and 2018 and has helped lift competitive intensity in the market.",
    "output": "[Cause] China Unicom's strong push in mobiles in 2017 and 2018 [Relation] cause [Effect] lift competitive intensity in the market",
    "gold": "[Cause] China Unicom has also made a strong push in mobiles in 2017 and 2018 [Relation] enable [Effect] lift competitive intensity in the market",
    "valid": false
  },
  {
    "input": "With discretionary services set to bounce back as the pandemic recedes, Willis Towers Watson could see unusually strong growth in the near term.",
    "output": "[Cause] discretionary services set to bounce back as the pandemic recedes [Relation] cause [Effect] Willis Towers Watson could see unusually strong growth in the near term",
    "gold": "[Cause] the pandemic recedes [Relation] cause [Effect] discretionary services set to bounce back",
    "valid": false
  },
  {
    "input": "Compared with its peers, however, Omnicom was relatively quiet on the acquisition front in 2016, two years after it ended merger talks with Publicis, which would have made the combined company larger than the U.K.'s WPP.",
    "output": "[Cause] ended merger talks with Publicis [Relation] cause [Effect] Omnicom was relatively quiet on the acquisition front in 2016",
    "gold": "[Cause] Omnicom was relatively quiet on the acquisition front in 2016, two years after it ended merger talks with Publicis [Relation] cause [Effect] made the combined company larger than the U.K.'s WPP",
    "valid": false
  },
  {
    "input": "As they are putting together the ingredients and seasoning the dish, they have to constantly taste the stew and adjust the seasoning and ingredients to create the perfect recipe.",
    "output": "[Cause] constantly taste the stew and adjust the seasoning and ingredients [Relation] enable [Effect] create the perfect recipe",
    "gold": "[Cause] constantly taste the stew and adjust the seasoning and ingredients [Relation] cause [Effect] create the perfect recipe",
    "valid": true
  },
  {
    "input": "As a follow-on to the initial introduction of CRM, management introduced the Veeva Vault platform to broaden the portfolio that addresses the largely unmet needs of the life sciences industry outside of CRM.",
    "output": "[Cause] the introduction of CRM [Relation] follow-on [Effect] management introduced the Veeva Vault platform to broaden the portfolio that addresses the largely unmet needs of the life sciences industry outside of CRM",
    "gold": "[Cause] management introduced the Veeva Vault platform [Relation] enable [Effect] broaden the portfolio",
    "valid": false
  },
  {
    "input": "Because investors require this information and there are no substitutes, Nasdaq enjoys high switching costs, which makes it easy for it to achieve price increases.",
    "output": "[Cause] investors require this information and there are no substitutes [Relation] enable [Effect] Nasdaq enjoys high switching costs",
    "gold": "[Cause] investors require this information and there are no substitutes, Nasdaq enjoys high switching costs [Relation] enable [Effect] makes it easy for it to achieve price increases",
    "valid": false
  },
  {
    "input": "It has a bright outlook via organic drilling growth at Diamondback, which will be the operator on over 50% of Viper's acreage, and further acquisitions of acreage from private owners.",
    "output": "[Cause] organic drilling growth at Diamondback, which will be the operator on over 50% of Viper's acreage, and further acquisitions of acreage from private owners [Relation] enable [Effect] It has a bright outlook",
    "gold": "[Cause] the operator on over 50% of Viper's acreage, and further acquisitions of acreage from private owners [Relation] cause [Effect] a bright outlook via organic drilling growth at Diamondback",
    "valid": false
  },
  {
    "input": "Tax documents from financial institutions customers have linked their Mint accounts to will automatically feed into TurboTax if cleared by the customer, making TurboTax renewals more likely, in our view.",
    "output": "[Cause] Tax documents from financial institutions customers have linked their Mint accounts to [Relation] enable [Effect] will automatically feed into TurboTax if cleared by the customer",
    "gold": "[Cause] Tax documents from financial institutions customers have linked their Mint accounts to will automatically feed into TurboTax if cleared by the customer [Relation] enable [Effect] making TurboTax renewals more likely",
    "valid": false
  },
  {
    "input": "We believe the combination of Azure, DBMS, Dynamics 365, and Office 365 will drive above-market growth as CIOs continue to consolidate vendors.",
    "output": "[Cause] the combination of Azure, DBMS, Dynamics 365, and Office 365 [Relation] enable [Effect] will drive above-market growth",
    "gold": "[Cause] CIOs continue to consolidate vendors [Relation] cause [Effect] the combination of Azure, DBMS, Dynamics 365, and Office 365 will drive above-market growth",
    "valid": false
  },
  {
    "input": "Here, because the city is home to China's wealthy and political elite, CITIC Prudential Life focuses on selling wealth management products as well as advice on legacy planning and intergenerational insurance solutions.",
    "output": "[Cause] the city is home to China's wealthy and political elite [Relation] cause [Effect] CITIC Prudential Life focuses on selling wealth management products as well as advice on legacy planning and intergenerational insurance solutions",
    "gold": "[Cause] the city is home to China's wealthy and political elite [Relation] cause [Effect] CITIC Prudential Life focuses on selling wealth management products as well as advice on legacy planning and intergenerational insurance solutions",
    "valid": true
  },
  {
    "input": "After the 2005 merger of TD Waterhouse and Ameritrade, Broadridge lost TD Waterhouse as a client because Ameritrade completed its securities processing in-house.",
    "output": "[Cause] Ameritrade completed its securities processing in-house [Relation] cause [Effect] Broadridge lost TD Waterhouse as a client",
    "gold": "[Cause] After the 2005 merger of TD Waterhouse and Ameritrade, Broadridge lost TD Waterhouse as a client [Relation] cause [Effect] Ameritrade completed its securities processing in-house.",
    "valid": false
  },
  {
    "input": "Although its sales soared during the pandemic, we believe the impact is temporary, as growth in sporting goods retail has generally been minimal due to external competition.",
    "output": "[Cause] growth in sporting goods retail has generally been minimal due to external competition [Relation] cause [Effect] sales soared during the pandemic (temporary impact)",
    "gold": "[Cause] growth in sporting goods retail has generally been minimal due to external competition [Relation] cause [Effect] the impact is temporary",
    "valid": false
  },
  {
    "input": "And once hosts and guests become aware of Airbnb's network they tend to increasingly stay on the platform, highlighting the quality of the company's offering.",
    "output": "[Cause] hosts and guests become aware of Airbnb's network [Relation] cause [Effect] tend to increasingly stay on the platform, highlighting the quality of the company's offering",
    "gold": "[Cause] the quality of the company's offering [Relation] cause [Effect] they tend to increasingly stay on the platform",
    "valid": false
  },
  {
    "input": "Capri has big plans for Versace and Jimmy Choo, primarily based on store growth and expansions of their accessory businesses.",
    "output": "[Cause] store growth and expansions of their accessory businesses [Relation] enable [Effect] Capri has big plans for Versace and Jimmy Choo",
    "gold": "[Cause] store growth and expansions of their accessory businesses [Relation] enable [Effect] Capri has big plans for Versace and Jimmy Choo",
    "valid": true
  },
  {
    "input": "Sales of materials processing equipment, at first glance, would appear to be sensitive to the availability of aftermarket service due to the significant maintenance requirements that the machines require.",
    "output": "[Cause] significant maintenance requirements that the machines require [Relation] cause [Effect] sensitivity of sales of materials processing equipment to the availability of aftermarket service",
    "gold": "[Cause] the significant maintenance requirements that the machines require [Relation] cause [Effect] appear to be sensitive to the availability of aftermarket service",
    "valid": false
  },
  {
    "input": "We expect sales of Herceptin, Rituxan, and Avastin to decline from roughly CHF 20 billion in 2019 to CHF 4 billion in 2025 due to biosimilar competition.",
    "output": "[Cause] biosimilar competition [Relation] cause [Effect] sales of Herceptin, Rituxan, and Avastin to decline from roughly CHF 20 billion in 2019 to CHF 4 billion in 2025",
    "gold": "[Cause] biosimilar competition [Relation] cause [Effect] sales of Herceptin, Rituxan, and Avastin to decline from roughly CHF 20 billion in 2019 to CHF 4 billion in 2025",
    "valid": true
  },
  {
    "input": "PTC has recently expanded from its core CAD and PLM solutions into Internet of Things and Augmented Reality (AR) offerings--largely via acquisition.",
    "output": "[Cause] PTC has recently expanded from its core CAD and PLM solutions into Internet of Things and Augmented Reality (AR) offerings [Relation] enable [Effect] largely via acquisition",
    "gold": "[Cause] acquisition [Relation] enable [Effect] PTC has recently expanded from its core CAD and PLM solutions into Internet of Things and Augmented Reality (AR) offerings",
    "valid": false
  },
  {
    "input": "The industry's pricing transparency and significantly lower regulatory oversight have allowed the rise of competition from Internet retailers and equipment manufacturers, eroding most of these firms' switching costs and shifting the competitive landscape.",
    "output": "[Cause] The industry's pricing transparency and significantly lower regulatory oversight [Relation] enable [Effect] the rise of competition from Internet retailers and equipment manufacturers",
    "gold": "[Cause] The industry's pricing transparency and significantly lower regulatory oversight [Relation] cause [Effect] the rise of competition from Internet retailers and equipment manufacturers",
    "valid": true
  },
  {
    "input": "The industry's pricing transparency and significantly lower regulatory oversight have allowed the rise of competition from Internet retailers and equipment manufacturers, eroding most of these firms' switching costs and shifting the competitive landscape.",
    "output": "[Cause] the industry's pricing transparency and significantly lower regulatory oversight [Relation] cause [Effect] allowed the rise of competition from Internet retailers and equipment manufacturers, eroding most of these firms' switching costs",
    "gold": "[Cause] The industry's pricing transparency and significantly lower regulatory oversight [Relation] cause [Effect] eroding most of these firms' switching costs and shifting the competitive landscape",
    "valid": false
  },
  {
    "input": "While the combined company has an advantage over HDD competitor Seagate, we believe Western Digital will struggle to maximize its opportunities within NAND due to considerable competition in the space.",
    "output": "[Cause] considerable competition in the NAND space [Relation] prevent [Effect] Western Digital will struggle to maximize its opportunities within NAND",
    "gold": "[Cause] considerable competition in the space [Relation] cause [Effect] Western Digital will struggle to maximize its opportunities within NAND",
    "valid": false
  },
  {
    "input": "Overall, we think these dynamics create barriers to entry for new competitors in local markets because it is hard to compile an attractively priced provider network without a significant membership share of that caregivers' patient population.",
    "output": "[Cause] it is hard to compile an attractively priced provider network [Relation] cause [Effect] create barriers to entry for new competitors in local markets",
    "gold": "[Cause] hard to compile an attractively priced provider network without a significant membership share of that caregivers' patient population [Relation] cause [Effect] dynamics create barriers",
    "valid": false
  },
  {
    "input": "We believe Dunkin' can extend its brand reach beyond core markets, supported by solid franchise unit economics, national advertising efforts, and more technological-leveraged and drive-thru-focused restaurant formats.",
    "output": "[Cause] solid franchise unit economics, national advertising efforts, and more technological-leveraged and drive-thru-focused restaurant formats [Relation] enable [Effect] Dunkin' can extend its brand reach beyond core markets",
    "gold": "[Cause] solid franchise unit economics, national advertising efforts, and more technological-leveraged and drive-thru-focused restaurant formats [Relation] enable [Effect] Dunkin' can extend its brand reach beyond core markets",
    "valid": true
  },
  {
    "input": "The participating companies relinquish the rights to their data to Core in exchange for the knowledge gleaned from the project.",
    "output": "[Cause] The participating companies relinquish the rights to their data to Core [Relation] enable [Effect] in exchange for the knowledge gleaned from the project",
    "gold": "[Cause] The participating companies relinquish the rights to their data to Core [Relation] enable [Effect] in exchange for the knowledge gleaned from the project",
    "valid": true
  },
  {
    "input": "Following significant core sales declines across all three segments in 2020 due to the COVID-19 pandemic, we forecast an average annual organic revenue growth rate for the firm of approximately 6.5% through 2025.",
    "output": "[Cause] significant core sales declines across all three segments in 2020 due to the COVID-19 pandemic [Relation] cause [Effect] forecast an average annual organic revenue growth rate for the firm of approximately 6.5% through 2025",
    "gold": "[Cause] the COVID-19 pandemic [Relation] cause [Effect] Following significant core sales declines across all three segments in 2020",
    "valid": false
  },
  {
    "input": "Following significant core sales declines across all three segments in 2020 due to the COVID-19 pandemic, we forecast an average annual organic revenue growth rate for the firm of approximately 6.5% through 2025.",
    "output": "[Cause] significant core sales declines across all three segments in 2020 due to the COVID-19 pandemic [Relation] cause [Effect] forecast an average annual organic revenue growth rate for the firm of approximately 6.5% through 2025",
    "gold": "[Cause] Following significant core sales declines across all three segments in 2020 [Relation] cause [Effect] an average annual organic revenue growth rate for the firm of approximately 6.5% through 2025",
    "valid": false
  },
  {
    "input": "If drugs or methods that are more effective for weight management than traditional nutrition and exercise are created, we think the company would lose significant business.",
    "output": "[Cause] drugs or methods that are more effective for weight management than traditional nutrition and exercise are created [Relation] cause [Effect] the company would lose significant business",
    "gold": "[Cause] drugs or methods that are more effective for weight management than traditional nutrition and exercise are created [Relation] cause [Effect] the company would lose significant business",
    "valid": true
  },
  {
    "input": "The facility is particularly important because of the growing demand for exports of refined products and NGLs, and access to five docks is an important competitive advantage given geographic constraints.",
    "output": "[Cause] growing demand for exports of refined products and NGLs [Relation] enable [Effect] access to five docks is an important competitive advantage",
    "gold": "[Cause] geographic constraints [Relation] cause [Effect] access to five docks is an important competitive advantage",
    "valid": false
  },
  {
    "input": "In addition, without Weixin/Weixin ID and QQ ID, users may need to spend more time registering on a new Internet service or a new mobile app, as many sites and apps allow fast login through Weixin ID and QQ ID.",
    "output": "[Cause] without Weixin/Weixin ID and QQ ID [Relation] cause [Effect] users may need to spend more time registering on a new Internet service or a new mobile app",
    "gold": "[Cause] many sites and apps allow fast login through Weixin ID and QQ ID [Relation] cause [Effect] without Weixin/Weixin ID and QQ ID, users may need to spend more time registering on a new Internet service or a new mobile app",
    "valid": false
  },
  {
    "input": "Overall revenue is anticipated to grow in fiscal 2020, driven by net single-digit growth in generic drugs and continued rapid adoption of Austedo and Ajovy.",
    "output": "[Cause] net single-digit growth in generic drugs and continued rapid adoption of Austedo and Ajovy [Relation] cause [Effect] Overall revenue is anticipated to grow in fiscal 2020",
    "gold": "[Cause] net single-digit growth in generic drugs and continued rapid adoption of Austedo and Ajovy [Relation] cause [Effect] Overall revenue is anticipated to grow in fiscal 2020",
    "valid": true
  },
  {
    "input": "For instance, in February, Pinterest banned all searches related to antivaccination pins in order to avoid appearing to promote the lifestyle choice.",
    "output": "[Cause] avoid appearing to promote the lifestyle choice [Relation] cause [Effect] Pinterest banned all searches related to antivaccination pins",
    "gold": "[Cause] Pinterest banned all searches related to antivaccination pins [Relation] prevent [Effect] appearing to promote the lifestyle choice",
    "valid": false
  },
  {
    "input": "This could include using an augmented reality app to check off a grocery list at Whole Foods or a cruise line integrating a passenger badge/sensor system for a more effortless cruise experience.",
    "output": "[Cause] using an augmented reality app to check off a grocery list at Whole Foods or a cruise line integrating a passenger badge/sensor system [Relation] enable [Effect] a more effortless cruise experience",
    "gold": "[Cause] using an augmented reality app to check off a grocery list at Whole Foods or a cruise line integrating a passenger badge/sensor system [Relation] enable [Effect] a more effortless cruise experience",
    "valid": true
  },
  {
    "input": "Additionally, with a fourth mobile network already established in the market, we think the French government is very unlikely to facilitate the entrance of a new player or approve any market consolidation by Orange's smaller competitors.",
    "output": "[Cause] a fourth mobile network already established in the market [Relation] prevent [Effect] the French government is very unlikely to facilitate the entrance of a new player or approve any market consolidation by Orange's smaller competitors",
    "gold": "[Cause] a fourth mobile network already established in the market [Relation] cause [Effect] the French government is very unlikely to facilitate the entrance of a new player or approve any market consolidation by Orange's smaller competitors",
    "valid": true
  },
  {
    "input": "Additionally, given Sinopec's size, it needs projects of a certain size and quality in order to increase reserves and production cost-effectively, but that will be difficult, in our view.",
    "output": "[Cause] Sinopec's size and need for projects of a certain size and quality in order to increase reserves and production cost-effectively [Relation] cause [Effect] it will be difficult to find such projects",
    "gold": "[Cause] Sinopec's size [Relation] prevent [Effect] it needs projects of a certain size and quality in order to increase reserves and production cost-effectively",
    "valid": false
  },
  {
    "input": "We also expect strong growth for QNX as content gains with AVs of all levels offset market share losses to Android Automotive.",
    "output": "[Cause] content gains with AVs of all levels [Relation] enable [Effect] strong growth for QNX",
    "gold": "[Cause] all levels offset market share losses to Android Automotive [Relation] cause [Effect] strong growth for QNX as content gains with AVs",
    "valid": false
  },
  {
    "input": "And we think competitive pressures will ultimately resurface in its retail categories, making it imperative that Kimberly keeps pressing ahead to ensure its innovation wins with its customer groups.",
    "output": "[Cause] competitive pressures will ultimately resurface in its retail categories [Relation] cause [Effect] Kimberly keeps pressing ahead to ensure its innovation wins with its customer groups",
    "gold": "[Cause] competitive pressures will ultimately resurface in its retail categories [Relation] cause [Effect] it imperative that Kimberly keeps pressing ahead",
    "valid": false
  },
  {
    "input": "And we think competitive pressures will ultimately resurface in its retail categories, making it imperative that Kimberly keeps pressing ahead to ensure its innovation wins with its customer groups.",
    "output": "[Cause] competitive pressures will ultimately resurface in its retail categories [Relation] cause [Effect] imperative that Kimberly keeps pressing ahead to ensure its innovation wins with its customer groups",
    "gold": "[Cause] it imperative that Kimberly keeps pressing ahead [Relation] enable [Effect] its innovation wins with its customer groups",
    "valid": false
  },
  {
    "input": "The boots category is especially important for the Timberland brand, as we estimate that 80% of its sales come from footwear.",
    "output": "[Cause] The boots category is especially important for the Timberland brand [Relation] cause [Effect] 80% of its sales come from footwear",
    "gold": "[Cause] 80% of its sales come from footwear [Relation] cause [Effect] The boots category is especially important for the Timberland brand",
    "valid": false
  },
  {
    "input": "Scale should come with cost leverage as growth investments bear fruit, with the unit clearing management's 15% segment adjusted EBITDA margin target in fiscal 2021 (we assume growth to nearly 20% by fiscal 2030).",
    "output": "[Cause] growth investments bear fruit [Relation] enable [Effect] the unit clearing management's 15% segment adjusted EBITDA margin target in fiscal 2021 (we assume growth to nearly 20% by fiscal 2030)",
    "gold": "[Cause] growth investments bear fruit [Relation] cause [Effect] Scale should come with cost leverage",
    "valid": false
  },
  {
    "input": "Emerson, furthermore, has continued its product innovation by eliminating complex installations with an all-welded spool design that doesn't require an orifice plate. This design supports up to four individual flow transmitters, and further tolerates extreme temperature conditions, whereas previous iterations would have broken down the instrumentation.",
    "output": "[Cause] product innovation by eliminating complex installations with an all-welded spool design that doesn't require an orifice plate [Relation] enable [Effect] design supports up to four individual flow transmitters and further tolerates extreme temperature conditions",
    "gold": "[Cause] Emerson, furthermore, has continued its product innovation by eliminating complex installations with an all-welded spool design that doesn't require an orifice plate [Relation] enable [Effect] supports up to four individual flow transmitters, and further tolerates extreme temperature conditions, whereas previous iterations would have broken down the instrumentation",
    "valid": false
  },
  {
    "input": "Robust advertising initiatives are especially important as its target customer is constantly aging, necessitating continuous engagement with new shoppers and households that limits sheer brand-building expenditures' ability to create durable customer loyalty.",
    "output": "[Cause] target customer constantly aging, necessitating continuous engagement with new shoppers and households [Relation] prevent [Effect] limits sheer brand-building expenditures' ability to create durable customer loyalty",
    "gold": "[Cause] its target customer is constantly aging, necessitating continuous engagement with new shoppers and households [Relation] cause [Effect] Robust advertising initiatives are especially important",
    "valid": false
  },
  {
    "input": "Robust advertising initiatives are especially important as its target customer is constantly aging, necessitating continuous engagement with new shoppers and households that limits sheer brand-building expenditures' ability to create durable customer loyalty.",
    "output": "[Cause] Robust advertising initiatives [Relation] enable [Effect] necessitating continuous engagement with new shoppers and households that limits sheer brand-building expenditures' ability to create durable customer loyalty",
    "gold": "[Cause] its target customer is constantly aging, necessitating continuous engagement with new shoppers and households [Relation] prevent [Effect] sheer brand-building expenditures' ability to create durable customer loyalty",
    "valid": false
  },
  {
    "input": "Even though the number of firms with an NRSRO designation has increased (to about 10) since the introduction of the Credit Rating Agency Reform Act of 2006, we believe the network effects have been strong enough to only result in limited traction of other rating agencies.",
    "output": "[Cause] the number of firms with an NRSRO designation has increased (to about 10) since the introduction of the Credit Rating Agency Reform Act of 2006 [Relation] prevent [Effect] limited traction of other rating agencies",
    "gold": "[Cause] the introduction of the Credit Rating Agency Reform Act of 2006 [Relation] enable [Effect] the number of firms with an NRSRO designation has increased (to about 10)",
    "valid": false
  },
  {
    "input": "We therefore expect additional divestitures in the coming years, which should help reduce debt, allow for future acquisitions, and reallocate resources to Conagra's brands with high potential, such as its portfolio of healthy frozen foods, unprocessed snacks, alternative protein products, and organic, gluten-free, and vegan offerings.",
    "output": "[Cause] additional divestitures in the coming years [Relation] enable [Effect] ",
    "gold": "[Cause] We therefore expect additional divestitures in the coming years [Relation] enable [Effect] help reduce debt, allow for future acquisitions, and reallocate resources to Conagra's brands with high potential, such as its portfolio of healthy frozen foods, unprocessed snacks, alternative protein products, and organic, gluten-free, and vegan offerings",
    "valid": false
  },
  {
    "input": "As the impact of the pandemic subsides, we expect the firm to generate mid-single-digit top-line growth annually over the course of our projection period.",
    "output": "[Cause] the impact of the pandemic subsiding [Relation] enable [Effect] firm to generate mid-single-digit top-line growth annually",
    "gold": "[Cause] the impact of the pandemic subsides [Relation] cause [Effect] firm to generate mid-single-digit top-line growth annually over the course of our projection period",
    "valid": false
  },
  {
    "input": "While we think Lennar's scale and industry reputation has helped build strong relationships with subcontractors and land developers, we don't think the company is able to negotiate meaningful long-term price concessions, especially given the tightness of the current construction labor market and land supply.",
    "output": "[Cause] Lennar's scale and industry reputation has helped build strong relationships with subcontractors and land developers [Relation] enable [Effect] the company is not able to negotiate meaningful long-term price concessions, especially given the tightness of the current construction labor market and land supply",
    "gold": "[Cause] the tightness of the current construction labor market and land supply [Relation] cause [Effect] we don't think the company is able to negotiate meaningful long-term price concessions",
    "valid": false
  },
  {
    "input": "Whether its big-box retailers or small-format outlets like convenience stores, the thin margins and technological disruption that have defined this industry will continue to drive an appetite for increased scale and resources. This reality could cause the axes of negotiation (regarding price increases, shelf sets, and the like) to tilt more toward National Beverage's retail partners.",
    "output": "[Cause] thin margins and technological disruption that have defined this industry [Relation] cause [Effect] drive an appetite for increased scale and resources",
    "gold": "[Cause] Whether its big-box retailers or small-format outlets like convenience stores, the thin margins and technological disruption that have defined this industry will continue to drive an appetite for increased scale and resources [Relation] cause [Effect] the axes of negotiation (regarding price increases, shelf sets, and the like) to tilt more toward National Beverage's retail partners",
    "valid": false
  },
  {
    "input": "Contrary to other publications, digital journal products are often priced at a premium to their print counterparts, as searchability is an especially valued, critical upgrade from a physical copy.",
    "output": "[Cause] searchability is an especially valued, critical upgrade from a physical copy [Relation] enable [Effect] digital journal products are often priced at a premium to their print counterparts",
    "gold": "[Cause] searchability is an especially valued, critical upgrade from a physical copy [Relation] cause [Effect] digital journal products are often priced at a premium to their print counterparts",
    "valid": true
  },
  {
    "input": "The contractor bears the financial risk of cost overruns for these programs, so a poorly executed development would financially strain L3Harris.",
    "output": "[Cause] poorly executed development [Relation] cause [Effect] financially strain L3Harris",
    "gold": "[Cause] these programs, so a poorly executed development would financially strain L3Harris [Relation] cause [Effect] The contractor bears the financial risk of cost overruns",
    "valid": false
  },
  {
    "input": "As such, we model organic revenue growth of 4.5% for the remainder of our explicit forecast period, rising from 4.3% in 2021 to 4.7% by 2024. This is predicated on continuing strong growth in areas such as risk and business analytics, in addition to improved growth in the STEM division as the mix effect improves the growth profile from the 2% level we have witnessed for almost a decade now.",
    "output": "[Cause] continuing strong growth in areas such as risk and business analytics, in addition to improved growth in the STEM division as the mix effect improves the growth profile [Relation] cause [Effect] organic revenue growth of 4.3% in 2021 rising to 4.7% by 2024",
    "gold": "[Cause] continuing strong growth in areas such as risk and business analytics, in addition to improved growth in the STEM division as the mix effect improves the growth profile from the 2% level we have witnessed for almost a decade now [Relation] enable [Effect] we model organic revenue growth of 4.5% for the remainder of our explicit forecast period, rising from 4.3% in 2021 to 4.7% by 2024",
    "valid": false
  },
  {
    "input": "The firm's unique ability to control costs gives it the highest operating margins of its peer group and allows it to quickly bring its numerous acquisitions up to firmwide profitability.",
    "output": "[Cause] the firm's unique ability to control costs [Relation] enable [Effect] highest operating margins of its peer group, allows it to quickly bring its numerous acquisitions up to firmwide profitability",
    "gold": "[Cause] The firm's unique ability to control costs [Relation] enable [Effect] gives it the highest operating margins of its peer group and allows it to quickly bring its numerous acquisitions up to firmwide profitability",
    "valid": false
  },
  {
    "input": "We believe Nice benefits from switching costs on this front as increasingly efficient processes improve an agent's ability to resolve issues for customers in a timely manner, which makes customers more likely to stay with the company.",
    "output": "[Cause] increasingly efficient processes improve an agent's ability to resolve issues for customers in a timely manner [Relation] cause [Effect] Nice benefits from switching costs on this front",
    "gold": "[Cause] increasingly efficient processes improve an agent's ability to resolve issues for customers in a timely manner [Relation] enable [Effect] Nice benefits from switching costs on this front",
    "valid": true
  },
  {
    "input": "We believe Nice benefits from switching costs on this front as increasingly efficient processes improve an agent's ability to resolve issues for customers in a timely manner, which makes customers more likely to stay with the company.",
    "output": "[Cause] increasingly efficient processes improve an agent's ability to resolve issues for customers in a timely manner [Relation] cause [Effect] Nice benefits from switching costs as customers are more likely to stay with the company",
    "gold": "[Cause] increasingly efficient processes improve an agent's ability to resolve issues for customers in a timely manner [Relation] cause [Effect] makes customers more likely to stay with the company",
    "valid": false
  },
  {
    "input": "Low natural gas prices and intensifying EPA regulations have put a material portion of the domestic utility coal franchise at risk of disappearing over the long run.",
    "output": "[Cause] Low natural gas prices and intensifying EPA regulations [Relation] cause [Effect] put a material portion of the domestic utility coal franchise at risk of disappearing over the long run",
    "gold": "[Cause] Low natural gas prices and intensifying EPA regulations [Relation] cause [Effect] put a material portion of the domestic utility coal franchise at risk of disappearing over the long run",
    "valid": true
  },
  {
    "input": "While a cursory analysis of West's design service may lead one to conclude customers could feasibly in-source design and cut out the middleman, West often provides services that smaller customers are unable to do themselves, for cost reasons and/or lack of expertise.",
    "output": "[Cause] West often provides services that smaller customers are unable to do themselves, for cost reasons and/or lack of expertise. [Relation] prevent [Effect] customers could feasibly in-source design and cut out the middleman",
    "gold": "[Cause] a cursory analysis of West's design service [Relation] cause [Effect] conclude customers could feasibly in-source design and cut out the middleman",
    "valid": false
  },
  {
    "input": "While a cursory analysis of West's design service may lead one to conclude customers could feasibly in-source design and cut out the middleman, West often provides services that smaller customers are unable to do themselves, for cost reasons and/or lack of expertise.",
    "output": "[Cause] West often provides services that smaller customers are unable to do themselves, for cost reasons and/or lack of expertise [Relation] enable [Effect] customers could feasibly in-source design and cut out the middleman",
    "gold": "[Cause] cost reasons and/or lack of expertise [Relation] cause [Effect] West often provides services that smaller customers are unable to do themselves",
    "valid": false
  },
  {
    "input": "NXP, in turn, benefits from the reliable sales from this sticky customer base, which further enable ongoing research investment in future areas of significant content growth and add to the firm's intangible assets.",
    "output": "[Cause] reliable sales from sticky customer base [Relation] enable [Effect] ongoing research investment in future areas of significant content growth and adding to the firm's intangible assets",
    "gold": "[Cause] the reliable sales from this sticky customer base [Relation] enable [Effect] further enable ongoing research investment in future areas of significant content growth and add to the firm's intangible assets",
    "valid": false
  },
  {
    "input": "This gives the bank scale and exposure to this higher-margin, fee-based business, which we don't think will change in the near term as the banks still have the most dominant branch and distribution networks.",
    "output": "[Cause] the bank scale and exposure to this higher-margin, fee-based business [Relation] enable [Effect] the banks still have the most dominant branch and distribution networks",
    "gold": "[Cause] the banks still have the most dominant branch and distribution networks [Relation] cause [Effect] we don't think will change in the near term",
    "valid": false
  },
  {
    "input": "Keurig has the broadest assortment of flavor, style, and product offerings (it even includes tea and cocoa), due to its partner ecosystem, and this is often cited by consumers as their primary reason for purchasing Keurig brewers or other systems that are K-cup compatible. This gives rise to a kind of network advantage that makes it more difficult for fledgling systems to gain penetration.",
    "output": "[Cause] Keurig's partner ecosystem and broad assortment of flavor, style, and product offerings, including tea and cocoa [Relation] enable [Effect] Often cited by consumers as their primary reason for purchasing Keurig brewers or other systems that are K-cup compatible",
    "gold": "[Cause] Keurig has the broadest assortment of flavor, style, and product offerings (it even includes tea and cocoa), due to its partner ecosystem, and this is often cited by consumers as their primary reason for purchasing Keurig brewers or other systems that are K-cup compatible [Relation] enable [Effect] a kind of network advantage that makes it more difficult for fledgling systems to gain penetration",
    "valid": false
  },
  {
    "input": "The addition of Cobalt, Pursuit, and Maverick within the last five years has provided robust sales growth for the firm (averaging 26%), thanks to a strategy based on fit and the ability to raise shareholder value.",
    "output": "[Cause] The addition of Cobalt, Pursuit, and Maverick within the last five years [Relation] enable [Effect] provided robust sales growth for the firm (averaging 26%)",
    "gold": "[Cause] a strategy based on fit and the ability to raise shareholder value [Relation] cause [Effect] The addition of Cobalt, Pursuit, and Maverick within the last five years has provided robust sales growth for the firm (averaging 26%)",
    "valid": false
  },
  {
    "input": "Nordson generates a healthy stream of recurring revenue tied to its large installed base, as nearly half of its sales (47% in fiscal 2018) are generated from aftermarket parts and consumables.",
    "output": "[Cause] Nordson's large installed base [Relation] enable [Effect] Nordson generates a healthy stream of recurring revenue tied to its large installed base",
    "gold": "[Cause] nearly half of its sales (47% in fiscal 2018) are generated from aftermarket parts and consumables [Relation] cause [Effect] Nordson generates a healthy stream of recurring revenue tied to its large installed base",
    "valid": false
  },
  {
    "input": "EDU expects year-over-year margin improvement in fourth-quarter fiscal 2021 amid scattered COVID-19 incidents in China, given that EDU expect smaller players may exit the market post-OVID-19, which gives EDU more opportunities to increase its market share.",
    "output": "[Cause] scattered COVID-19 incidents in China; smaller players may exit the market post-COVID-19 [Relation] cause [Effect] year-over-year margin improvement in fourth-quarter fiscal 2021; gives EDU more opportunities to increase its market share",
    "gold": "[Cause] COVID-19 incidents in China [Relation] cause [Effect] EDU expects year-over-year margin improvement in fourth-quarter fiscal 2021",
    "valid": false
  },
  {
    "input": "EDU expects year-over-year margin improvement in fourth-quarter fiscal 2021 amid scattered COVID-19 incidents in China, given that EDU expect smaller players may exit the market post-OVID-19, which gives EDU more opportunities to increase its market share.",
    "output": "[Cause] scattered COVID-19 incidents in China, smaller players may exit the market post-COVID-19 [Relation] enable [Effect] EDU expects year-over-year margin improvement in fourth-quarter fiscal 2021, EDU has more opportunities to increase its market share",
    "gold": "[Cause] EDU expect smaller players may exit the market post-OVID-19 [Relation] enable [Effect] EDU more opportunities to increase its market share",
    "valid": false
  },
  {
    "input": "Worsening credit behavior and anemic growth, a natural consequence of worsening sentiment, could see the bank earn returns below its cost of capital in the near term, as they did in the third quarter of 2020.",
    "output": "[Cause] Worsening credit behavior and anemic growth, a natural consequence of worsening sentiment [Relation] cause [Effect] the bank earn returns below its cost of capital in the near term, as they did in the third quarter of 2020",
    "gold": "[Cause] worsening sentiment [Relation] cause [Effect] Worsening credit behavior and anemic growth",
    "valid": false
  },
  {
    "input": "DuPont is also exposed to the electrification of vehicles as the company generates over 50% more revenue per vehicle for an electric vehicle versus an internal combustion engine vehicle.",
    "output": "[Cause] the electrification of vehicles [Relation] cause [Effect] the company generates over 50% more revenue per vehicle for an electric vehicle versus an internal combustion engine vehicle",
    "gold": "[Cause] the company generates over 50% more revenue per vehicle for an electric vehicle versus an internal combustion engine vehicle [Relation] cause [Effect] DuPont is also exposed to the electrification of vehicles",
    "valid": false
  },
  {
    "input": "Owing to the pressures affecting the asset management industry, the unknown length of this mergers and acquisitions cycle, currency fluctuations, and potential change in over-a-cycle managing director productivity, we assign a high uncertainty rating to our fair value estimate for Lazard.",
    "output": "[Cause] pressures affecting the asset management industry, the unknown length of this mergers and acquisitions cycle, currency fluctuations, and potential change in over-a-cycle managing director productivity [Relation] cause [Effect] assign a high uncertainty rating to our fair value estimate for Lazard",
    "gold": "[Cause] the pressures affecting the asset management industry [Relation] prevent [Effect] assign a high uncertainty rating to our fair value estimate for Lazard",
    "valid": false
  },
  {
    "input": "We think Telus' fiber to the premises, or FTTP, network upgrade over most of its footprint will lead to higher pricing and market share gains.",
    "output": "[Cause] Telus' fiber to the premises, or FTTP, network upgrade over most of its footprint [Relation] cause [Effect] higher pricing and market share gains",
    "gold": "[Cause] Telus' fiber to the premises, or FTTP, network upgrade over most of its footprint [Relation] cause [Effect] higher pricing and market share gains",
    "valid": true
  },
  {
    "input": "We think that Accenture derives excess returns from reputation as an intangible asset, as unlike traditional advertising projects, digital work means more uncertainty for customers, so they might again turn to best-in-breed providers like Accenture.",
    "output": "[Cause] digital work means more uncertainty for customers [Relation] enable [Effect] customers might turn to best-in-breed providers like Accenture",
    "gold": "[Cause] digital work means more uncertainty for customers [Relation] cause [Effect] they might again turn to best-in-breed providers like Accenture",
    "valid": false
  },
  {
    "input": "Furthermore, a lack of financial flexibility limited the company's ability to respond to consumers' changing desires, resulting in declining sales as low-carb diets and clean eating movements swept the nation.",
    "output": "[Cause] a lack of financial flexibility limited the company's ability to respond to consumers' changing desires [Relation] cause [Effect] declining sales as low-carb diets and clean eating movements swept the nation",
    "gold": "[Cause] a lack of financial flexibility [Relation] prevent [Effect] the company's ability to respond to consumers' changing desires",
    "valid": false
  },
  {
    "input": "Furthermore, a lack of financial flexibility limited the company's ability to respond to consumers' changing desires, resulting in declining sales as low-carb diets and clean eating movements swept the nation.",
    "output": "[Cause] lack of financial flexibility limited the company's ability to respond to consumers' changing desires [Relation] cause [Effect] declining sales as low-carb diets and clean eating movements swept the nation",
    "gold": "[Cause] a lack of financial flexibility [Relation] cause [Effect] declining sales as low-carb diets and clean eating movements swept the nation",
    "valid": false
  },
  {
    "input": "Xylem's risk is somewhat mitigated by its large installed base, as almost half of the company's revenue is recurring, driven by aftermarket service and part replacement in the water infrastructure and applied water segments as well as long-term customer contracts in the measurement and control solutions segment.",
    "output": "[Cause] large installed base, aftermarket service and part replacement in the water infrastructure and applied water segments, long-term customer contracts in the measurement and control solutions segment [Relation] mitigate [Effect] Xylem's risk is somewhat mitigated",
    "gold": "[Cause] its large installed base [Relation] enable [Effect] Xylem's risk is somewhat mitigated",
    "valid": false
  },
  {
    "input": "Xylem's risk is somewhat mitigated by its large installed base, as almost half of the company's revenue is recurring, driven by aftermarket service and part replacement in the water infrastructure and applied water segments as well as long-term customer contracts in the measurement and control solutions segment.",
    "output": "[Cause] large installed base, aftermarket service and part replacement in the water infrastructure and applied water segments, long-term customer contracts in the measurement and control solutions segment [Relation] enable [Effect] Xylem's risk is somewhat mitigated",
    "gold": "[Cause] aftermarket service and part replacement in the water infrastructure and applied water segments as well as long-term customer contracts in the measurement and control solutions segment [Relation] cause [Effect] almost half of the company's revenue is recurring",
    "valid": false
  },
  {
    "input": "Xylem's risk is somewhat mitigated by its large installed base, as almost half of the company's revenue is recurring, driven by aftermarket service and part replacement in the water infrastructure and applied water segments as well as long-term customer contracts in the measurement and control solutions segment.",
    "output": "[Cause] large installed base [Relation] mitigate [Effect] Xylem's risk is somewhat mitigated",
    "gold": "[Cause] almost half of the company's revenue is recurring [Relation] enable [Effect] Xylem's risk is somewhat mitigated",
    "valid": false
  },
  {
    "input": "Therefore, it could be argued that PNC has developed some amount of cost advantage due to its underwriting prowess, but we believe the bank's lack of advantage for deposits and operational efficiency outweigh this.",
    "output": "[Cause] PNC has developed some amount of cost advantage due to its underwriting prowess [Relation] cause [Effect] lack of advantage for deposits and operational efficiency outweigh this",
    "gold": "[Cause] its underwriting prowess [Relation] enable [Effect] PNC has developed some amount of cost advantage",
    "valid": false
  },
  {
    "input": "Over time, gross margins could reach 38% as volume increases and negotiating leverage improve occupancy costs, while ongoing industry competitiveness constrains pricing power.",
    "output": "[Cause] volume increases and negotiating leverage improve occupancy costs, ongoing industry competitiveness [Relation] cause [Effect] gross margins could reach 38%",
    "gold": "[Cause] ongoing industry competitiveness [Relation] prevent [Effect] pricing power",
    "valid": false
  },
  {
    "input": "Over time, gross margins could reach 38% as volume increases and negotiating leverage improve occupancy costs, while ongoing industry competitiveness constrains pricing power.",
    "output": "[Cause] volume increases and negotiating leverage improve occupancy costs, while ongoing industry competitiveness constrains pricing power [Relation] enable [Effect] gross margins could reach 38% over time",
    "gold": "[Cause] volume increases and negotiating leverage [Relation] enable [Effect] improve occupancy costs",
    "valid": false
  },
  {
    "input": "Additionally, the addition of professional sports to the region stands to drive incremental demand, which makes the allure of Wynn's various Vegas projects currently under development (convention center and future construction on 38 acres across from Wynn Las Vegas that was purchased in December 2017) that much more attractive.",
    "output": "[Cause] the addition of professional sports to the region [Relation] enable [Effect] drive incremental demand",
    "gold": "[Cause] the addition of professional sports to the region stands to drive incremental demand [Relation] cause [Effect] makes the allure of Wynn's various Vegas projects currently under development (convention center and future construction on 38 acres across from Wynn Las Vegas that was purchased in December 2017) that much more attractive",
    "valid": false
  },
  {
    "input": "Competitive risks relate to the large numbers of players planning to enter the liquid biopsy space, with the number of peers likely to grow over time as liquid biopsy cancer screening becomes the norm.",
    "output": "[Cause] large numbers of players planning to enter the liquid biopsy space [Relation] cause [Effect] number of peers likely to grow over time as liquid biopsy cancer screening becomes the norm",
    "gold": "[Cause] liquid biopsy cancer screening becomes the norm. [Relation] enable [Effect] the number of peers likely to grow over time",
    "valid": false
  },
  {
    "input": "We're raising our fair value estimate for Monster to $73 from $67, largely due to time value after rolling our model to 2021, as well as near-term sales momentum as the top line continues to belie any disruption from COVID-19.",
    "output": "[Cause] time value after rolling our model to 2021 | near-term sales momentum as the top line continues to belie any disruption from COVID-19 [Relation] cause [Effect] raising our fair value estimate for Monster to $73 from $67",
    "gold": "[Cause] time value after rolling our model to 2021, as well as near-term sales momentum [Relation] cause [Effect] We're raising our fair value estimate for Monster to $73 from $67",
    "valid": false
  },
  {
    "input": "We're raising our fair value estimate for Monster to $73 from $67, largely due to time value after rolling our model to 2021, as well as near-term sales momentum as the top line continues to belie any disruption from COVID-19.",
    "output": "[Cause] time value after rolling our model to 2021, as well as near-term sales momentum [Relation] cause [Effect] raising our fair value estimate for Monster to $73 from $67",
    "gold": "[Cause] the top line continues to belie any disruption from COVID-19 [Relation] cause [Effect] near-term sales momentum",
    "valid": false
  },
  {
    "input": "Though scale and regulatory expertise create barriers to entry, new or existing competitors could take share as the banking industry digitizes and becomes more and more a technology focused industry.",
    "output": "[Cause] the banking industry digitizes and becomes more and more a technology focused industry [Relation] cause [Effect] new or existing competitors could take share",
    "gold": "[Cause] the banking industry digitizes and becomes more and more a technology focused industry [Relation] enable [Effect] new or existing competitors could take share",
    "valid": true
  },
  {
    "input": "Compared with competitors like Zillow, Redfin has a potential advantage in iBuying because it has its own sellers' agents and buyers' agents given its status as a brokerage.",
    "output": "[Cause] Redfin has its own sellers' agents and buyers' agents given its status as a brokerage [Relation] enable [Effect] Redfin has a potential advantage in iBuying compared with competitors like Zillow",
    "gold": "[Cause] it has its own sellers' agents and buyers' agents [Relation] cause [Effect] Redfin has a potential advantage in iBuying",
    "valid": false
  },
  {
    "input": "Compared with competitors like Zillow, Redfin has a potential advantage in iBuying because it has its own sellers' agents and buyers' agents given its status as a brokerage.",
    "output": "[Cause] Redfin has its own sellers' agents and buyers' agents given its status as a brokerage [Relation] enable [Effect] Redfin has a potential advantage in iBuying compared with competitors like Zillow",
    "gold": "[Cause] its status as a brokerage [Relation] cause [Effect] it has its own sellers' agents and buyers' agents",
    "valid": false
  },
  {
    "input": "The company has exposure to emission regulation, but we think the company is investing to position itself to win in a zero-emission world.",
    "output": "[Cause] the company is investing to position itself to win in a zero-emission world [Relation] cause [Effect] the company has exposure to emission regulation",
    "gold": "[Cause] the company is investing [Relation] enable [Effect] position itself to win in a zero-emission world",
    "valid": false
  },
  {
    "input": "Cisco's DevNet does have over 500,000 registered members now; this may cause minimal network effects as solutions are being created and shared by external developers, but we have not seen widespread product adoption due to network effects at this point.",
    "output": "[Cause] solutions being created and shared by external developers [Relation] enable [Effect] minimal network effects",
    "gold": "[Cause] minimal network effects as solutions are being created and shared by external developers [Relation] cause [Effect] Cisco's DevNet does have over 500,000 registered members now",
    "valid": false
  },
  {
    "input": "This segment's growth is closely tied to the legalization of cannabis in the U.S., as its products are frequently used by licensed growers.",
    "output": "[Cause] the legalization of cannabis in the U.S. [Relation] enable [Effect] This segment's growth",
    "gold": "[Cause] the legalization of cannabis in the U.S. [Relation] cause [Effect] This segment's growth",
    "valid": true
  },
  {
    "input": "Rapid part availability, location convenience, and in-store services (in the DIY segment) carry significant weight with purchasers, but as such benefits are costly to deliver, scaled retailers are at an advantage as they can spread service costs (as well as inventory holding expenses) over a large sales base.",
    "output": "[Cause] Rapid part availability, location convenience, and in-store services (in the DIY segment) carry significant weight with purchasers [Relation] enable [Effect] scaled retailers are at an advantage as they can spread service costs (as well as inventory holding expenses) over a large sales base",
    "gold": "[Cause] such benefits are costly to deliver [Relation] cause [Effect] scaled retailers are at an advantage",
    "valid": false
  },
  {
    "input": "Rapid part availability, location convenience, and in-store services (in the DIY segment) carry significant weight with purchasers, but as such benefits are costly to deliver, scaled retailers are at an advantage as they can spread service costs (as well as inventory holding expenses) over a large sales base.",
    "output": "[Cause] Rapid part availability, location convenience, and in-store services carry significant weight with purchasers [Relation] enable [Effect] scaled retailers are at an advantage",
    "gold": "[Cause] they can spread service costs (as well as inventory holding expenses) over a large sales base [Relation] cause [Effect] such benefits are costly to deliver, scaled retailers are at an advantage",
    "valid": false
  },
  {
    "input": "There have been times when poor governance did lead to material value destruction, but we see the risks of a repeat of something like the financial crisis as minimal today.",
    "output": "[Cause] poor governance [Relation] cause [Effect] material value destruction",
    "gold": "[Cause] poor governance [Relation] cause [Effect] material value destruction",
    "valid": true
  },
  {
    "input": "In this scenario, we assume Natwest's banking net interest margin declines in the short term as pricing pressures in mortgages persist and interest rates remain close to zero.",
    "output": "[Cause] pricing pressures in mortgages persist and interest rates remain close to zero [Relation] cause [Effect] Natwest's banking net interest margin declines in the short term",
    "gold": "[Cause] pricing pressures in mortgages persist and interest rates remain close to zero [Relation] cause [Effect] Natwest's banking net interest margin declines in the short term",
    "valid": true
  },
  {
    "input": "Furthermore, customers loathe changing identity cybersecurity vendors due to criticality of ensuring internal and external users can readily access only what they need.",
    "output": "[Cause] criticality of ensuring internal and external users can readily access only what they need [Relation] prevent [Effect] customers loathe changing identity cybersecurity vendors",
    "gold": "[Cause] criticality of ensuring internal and external users can readily access only what they need [Relation] cause [Effect] customers loathe changing identity cybersecurity vendors",
    "valid": true
  },
  {
    "input": "NetApp aims to alleviate challenges associated with shifting data to public clouds via its hyperscale cloud provider and colocation data center partnerships.",
    "output": "[Cause] challenges associated with shifting data to public clouds [Relation] enable [Effect] NetApp aims to alleviate challenges",
    "gold": "[Cause] its hyperscale cloud provider and colocation data center partnerships [Relation] cause [Effect] alleviate challenges associated with shifting data to public clouds",
    "valid": false
  },
  {
    "input": "Third, we don't believe the firm is large enough to have amassed negotiating leverage with suppliers and vendors, whether purchasing goods (raw materials, packaging) or services (distribution, advertising).",
    "output": "[Cause] the firm is not large enough to have amassed negotiating leverage with suppliers and vendors [Relation] cause [Effect] Third, we don't believe the firm is large enough to have amassed negotiating leverage with suppliers and vendors, whether purchasing goods or services",
    "gold": "[Cause] purchasing goods (raw materials, packaging) or services (distribution, advertising) [Relation] prevent [Effect] the firm is large enough to have amassed negotiating leverage with suppliers and vendors",
    "valid": false
  },
  {
    "input": "Additionally, we also expect industrial markets to recover, which we think will boost freight demand for fleet owners, leading to higher revenue for CNH Industrial.",
    "output": "[Cause] industrial markets to recover [Relation] cause [Effect] boost freight demand for fleet owners, leading to higher revenue for CNH Industrial",
    "gold": "[Cause] industrial markets to recover [Relation] enable [Effect] boost freight demand for fleet owners, leading to higher revenue for CNH Industrial",
    "valid": true
  },
  {
    "input": "Even so, we think Sysco's solid balance sheet, significant new business wins, channel diversity, customers' widespread adoption of carryout, and the eventual containment of the coronavirus (most likely after a 2021 vaccine), will return Sysco's revenue to the prepandemic level by fiscal 2023.",
    "output": "[Cause] Sysco's solid balance sheet, significant new business wins, channel diversity, customers' widespread adoption of carryout, and the eventual containment of the coronavirus (most likely after a 2021 vaccine) [Relation] cause [Effect] return Sysco's revenue to the prepandemic level by fiscal 2023",
    "gold": "[Cause] Sysco's solid balance sheet, significant new business wins, channel diversity, customers' widespread adoption of carryout, and the eventual containment of the coronavirus (most likely after a 2021 vaccine) [Relation] cause [Effect] return Sysco's revenue to the prepandemic level by fiscal 2023",
    "valid": true
  },
  {
    "input": "Our outlook for Tegsedi/TTR-LRx in ATTR amyloidosis is relatively bearish, given the cleaner safety profile for Alnylam's drug Onpattro (patisiran) and next-generation competition also in development at Alnylam.",
    "output": "[Cause] cleaner safety profile for Alnylam's drug Onpattro (patisiran) and next-generation competition also in development at Alnylam [Relation] cause [Effect] relatively bearish outlook for Tegsedi/TTR-LRx in ATTR amyloidosis",
    "gold": "[Cause] the cleaner safety profile for Alnylam's drug Onpattro (patisiran) and next-generation competition also in development at Alnylam [Relation] cause [Effect] Tegsedi/TTR-LRx in ATTR amyloidosis is relatively bearish",
    "valid": false
  },
  {
    "input": "Small private jets drove much of the volume in 2020, which we think is a function of pandemic-induced demand while consumers avoided airlines, and we do not think demand for small aircraft has structurally increased.",
    "output": "[Cause] pandemic-induced demand while consumers avoided airlines [Relation] cause [Effect] Small private jets drove much of the volume in 2020",
    "gold": "[Cause] a function of pandemic-induced demand [Relation] cause [Effect] Small private jets drove much of the volume in 2020",
    "valid": false
  },
  {
    "input": "We also consider the fee structure to be poor, since we expect a majority of Targa's contracts are percentage of proceeds, or POP, exposing Targa to commodity price risk.",
    "output": "[Cause] majority of Targa's contracts are percentage of proceeds, or POP, exposing Targa to commodity price risk [Relation] cause [Effect] consider the fee structure to be poor",
    "gold": "[Cause] a majority of Targa's contracts are percentage of proceeds [Relation] cause [Effect] exposing Targa to commodity price risk",
    "valid": false
  },
  {
    "input": "We also consider the fee structure to be poor, since we expect a majority of Targa's contracts are percentage of proceeds, or POP, exposing Targa to commodity price risk.",
    "output": "[Cause] a majority of Targa's contracts are percentage of proceeds, or POP [Relation] cause [Effect] exposing Targa to commodity price risk",
    "gold": "[Cause] exposing Targa to commodity price risk [Relation] cause [Effect] the fee structure to be poor",
    "valid": false
  },
  {
    "input": "About half of these savings are expected to ensue from the firm's loss-making international operations, partly as it works to improve capital utilization outside the U.S., which has stood at a mere 40%--far below the 65% of its U.S.",
    "output": "[Cause] loss-making international operations [Relation] cause [Effect] About half of these savings are expected to ensue",
    "gold": "[Cause] it works to improve capital utilization outside the U.S., which has stood at a mere 40%--far below the 65% of its U.S [Relation] cause [Effect] About half of these savings are expected to ensue from the firm's loss-making international operations",
    "valid": false
  },
  {
    "input": "We model advertising costs as a percentage of revenue to average 46.2% annually over the next 10 years versus the 43.1% and 48.6% levels reported in 2019 and over the past three years, respectively.  As a result of our revenue and expense forecasts, we see operating margins expanding to 23% in 10 years from 12.0% in 2019.",
    "output": "[Cause] advertising costs as a percentage of revenue average 46.2% annually over the next 10 years [Relation] cause [Effect] operating margins expanding to 23% from 12.0% in 2019",
    "gold": "[Cause] operating margins expanding to 23% in 10 years from 12.0% in 2019 [Relation] cause [Effect] costs as a percentage of revenue to average 46.2% annually over the next 10 years versus the 43.1% and 48.6% levels reported in 2019 and over the past three years, respectively",
    "valid": false
  },
  {
    "input": "The truck is a symbol of the freedom and independence of the job, which leads drivers to take significant pride in their rigs.",
    "output": "[Cause] The truck is a symbol of the freedom and independence of the job [Relation] cause [Effect] drivers take significant pride in their rigs",
    "gold": "[Cause] The truck is a symbol of the freedom and independence of the job [Relation] cause [Effect] leads drivers to take significant pride in their rigs",
    "valid": false
  },
  {
    "input": "For the core teleheatlh services, we believe the company is likely to retain its first-mover advantage and scale by penetrating members of existing customers (incremental 75 million) in addition to adding members of new clients under new logos (roughly 190 million).",
    "output": "[Cause] retaining first-mover advantage and scale [Relation] enable [Effect] penetrating members of existing customers (incremental 75 million) and adding members of new clients under new logos (roughly 190 million)",
    "gold": "[Cause] penetrating members of existing customers (incremental 75 million) in addition to adding members of new clients under new logos (roughly 190 million) [Relation] enable [Effect] retain its first-mover advantage and scale",
    "valid": false
  },
  {
    "input": "Though we do not expect specific ESG risks to materially affect Alcon, product governance failures leading to poor health outcomes could have a significant impact on Alcon's financial results.",
    "output": "[Cause] product governance failures leading to poor health outcomes [Relation] cause [Effect] significant impact on Alcon's financial results",
    "gold": "[Cause] product governance failures [Relation] cause [Effect] poor health outcomes",
    "valid": false
  },
  {
    "input": "We believe the benefit Posco enjoys from its investments in upstream assets relative to pure-play steel mills will be eroded in the longer term, owing to our expectations of lower midcycle iron ore and coking coal prices as China's demand growth for steel matures.",
    "output": "[Cause] expectations of lower midcycle iron ore and coking coal prices as China's demand growth for steel matures [Relation] cause [Effect] eroded benefit Posco enjoys from its investments in upstream assets relative to pure-play steel mills",
    "gold": "[Cause] China's demand growth for steel matures [Relation] cause [Effect] benefit Posco enjoys from its investments in upstream assets relative to pure-play steel mills will be eroded",
    "valid": false
  },
  {
    "input": "Economic profitability may be at risk if oil, steel, and copper prices return to highs experienced during periods of relatively high global economic expansion.",
    "output": "[Cause] oil, steel, and copper prices return to highs experienced during periods of relatively high global economic expansion [Relation] cause [Effect] Economic profitability may be at risk",
    "gold": "[Cause] oil, steel, and copper prices return to highs experienced during periods of relatively high global economic expansion [Relation] cause [Effect] Economic profitability may be at risk",
    "valid": true
  },
  {
    "input": "Horton's home sales gross profit margin will trend down over the next few years as price appreciation moderates with little relief in labor and land costs.",
    "output": "[Cause] price appreciation moderates with little relief in labor and land costs [Relation] cause [Effect] Horton's home sales gross profit margin will trend down over the next few years",
    "gold": "[Cause] price appreciation moderates with little relief in labor and land costs [Relation] cause [Effect] Horton's home sales gross profit margin will trend down over the next few years",
    "valid": true
  },
  {
    "input": "Based on the average volatility of cash flows from a diverse product portfolio in relatively less discretionary therapeutic markets, we rate Medtronic's uncertainty as medium.",
    "output": "[Cause] average volatility of cash flows from a diverse product portfolio in relatively less discretionary therapeutic markets [Relation] cause [Effect] rate Medtronic's uncertainty as medium",
    "gold": "[Cause] Based on the average volatility of cash flows from a diverse product portfolio in relatively less discretionary therapeutic market [Relation] enable [Effect] we rate Medtronic's uncertainty as medium",
    "valid": false
  },
  {
    "input": "We estimate reported revenue growth in 2021 at around negative 3.5%, as a result of a large decline in Myanmar revenue due to the military coup and network restrictions implemented in the country.",
    "output": "[Cause] the military coup and network restrictions implemented in Myanmar [Relation] cause [Effect] a large decline in Myanmar revenue",
    "gold": "[Cause] a large decline in Myanmar revenue due to the military coup and network restrictions implemented in the country [Relation] cause [Effect] revenue growth in 2021 at around negative 3.5%",
    "valid": false
  },
  {
    "input": "Predatory or discriminatory lending practices are examples of poor product governance, and this can affect certain banks at times.",
    "output": "[Cause] poor product governance (specifically predatory or discriminatory lending practices) [Relation] cause [Effect] affect certain banks at times",
    "gold": "[Cause] Predatory or discriminatory lending practices are examples of poor product governance [Relation] prevent [Effect] affect certain banks at times",
    "valid": false
  },
  {
    "input": "In addition to brand recognition and distribution, companies in this industry also benefit from scarcity value, which manifests as a result of the consumer perception surrounding the aging of this type of alcohol, and the pricing power that this begets.",
    "output": "[Cause] consumer perception surrounding the aging of this type of alcohol and the pricing power [Relation] enable [Effect] companies in this industry benefit from scarcity value",
    "gold": "[Cause] the consumer perception surrounding the aging of this type of alcohol, and the pricing power that this begets [Relation] cause [Effect] scarcity value",
    "valid": false
  },
  {
    "input": "We project that TV ad revenue will continue to decline on a secular basis due to the ongoing shift to digital ads, but the network will benefit from the 2020 and 2024 presidential elections along with the 2022 midterm elections, leading to flat advertising revenue over fiscal 2020-25.",
    "output": "[Cause] ongoing shift to digital ads [Relation] cause [Effect] TV ad revenue will continue to decline on a secular basis",
    "gold": "[Cause] the network will benefit from the 2020 and 2024 presidential elections along with the 2022 midterm elections [Relation] cause [Effect] flat advertising revenue over fiscal 2020-25",
    "valid": false
  },
  {
    "input": "We expect truck brokerage growth to ease in 2022 as the TL capacity cruch eases and pricing normalizes, but we are nonetheless lifting our revenue run rate forecast given solid market share gains this year.",
    "output": "[Cause] TL capacity crunch eases and pricing normalizes [Relation] cause [Effect] truck brokerage growth to ease in 2022",
    "gold": "[Cause] the TL capacity cruch eases and pricing normalizes [Relation] cause [Effect] truck brokerage growth to ease",
    "valid": false
  },
  {
    "input": "We expect truck brokerage growth to ease in 2022 as the TL capacity cruch eases and pricing normalizes, but we are nonetheless lifting our revenue run rate forecast given solid market share gains this year.",
    "output": "[Cause] TL capacity crunch eases and pricing normalizes [Relation] cause [Effect] truck brokerage growth to ease in 2022",
    "gold": "[Cause] solid market share gains [Relation] cause [Effect] lifting our revenue run rate forecast",
    "valid": false
  },
  {
    "input": "With top-line growth expected to be mixed during our forecast period, as the company deals with the effects of industry-driven fee compression, the net result is a 4.2% compound annual growth rate for revenue during 2021-25 (up from 1.3% previously).",
    "output": "[Cause] the effects of industry-driven fee compression [Relation] cause [Effect] mixed top-line growth",
    "gold": "[Cause] the company deals with the effects of industry-driven fee compression [Relation] enable [Effect] top-line growth expected to be mixed during our forecast period",
    "valid": false
  },
  {
    "input": "With top-line growth expected to be mixed during our forecast period, as the company deals with the effects of industry-driven fee compression, the net result is a 4.2% compound annual growth rate for revenue during 2021-25 (up from 1.3% previously).",
    "output": "[Cause] the effects of industry-driven fee compression [Relation] cause [Effect] top-line growth expected to be mixed",
    "gold": "[Cause] the company deals with the effects of industry-driven fee compression [Relation] enable [Effect] the net result is a 4.2% compound annual growth rate for revenue during 2021-25 (up from 1.3% previously)",
    "valid": false
  },
  {
    "input": "Additionally, the barriers to entry are very low in most markets, and economic profits will attract more developers to build competing properties.",
    "output": "[Cause] economic profits will attract more developers to build competing properties [Relation] cause [Effect] barriers to entry are very low in most markets",
    "gold": "[Cause] the barriers to entry are very low in most markets, and economic profits [Relation] enable [Effect] more developers to build competing properties",
    "valid": false
  },
  {
    "input": "Caesars' casino property portfolio has grown to around 50 properties from just 4 in 2014, as the company has excelled at identifying and integrating acquisitions that generate both strategic and economic value for shareholders.",
    "output": "[Cause] the company has excelled at identifying and integrating acquisitions that generate both strategic and economic value for shareholders [Relation] enable [Effect] Caesars' casino property portfolio has grown to around 50 properties from just 4 in 2014",
    "gold": "[Cause] he company has excelled at identifying and integrating acquisitions [Relation] cause [Effect] generate both strategic and economic value for shareholders",
    "valid": false
  },
  {
    "input": "Similar to several other large incumbents, Hub's network of over-the-road carriers is highly valuable to shippers throughout the cycle, partly because the truckload market capacity base comprises very small carriers and also due to structural constraints on driver availability.",
    "output": "[Cause] the truckload market capacity base comprises very small carriers and also due to structural constraints on driver availability [Relation] enable [Effect] Hub's network of over-the-road carriers is highly valuable to shippers throughout the cycle",
    "gold": "[Cause] the truckload market capacity base comprises very small carriers and also due to structural constraints on driver availability [Relation] cause [Effect] Hub's network of over-the-road carriers is highly valuable to shippers throughout the cycle",
    "valid": true
  },
  {
    "input": "We expect JPMorgan to achieve a sub-55% efficiency ratio by the end of our forecast as the company benefits from a higher rate environment, additional fee revenue falling to the bottom line, as well as continued expense management efforts.",
    "output": "[Cause] higher rate environment, additional fee revenue falling to the bottom line, continued expense management efforts [Relation] enable [Effect] JPMorgan to achieve a sub-55% efficiency ratio by the end of our forecast",
    "gold": "[Cause] as the company benefits from a higher rate environment, additional fee revenue falling to the bottom line, as well as continued expense management efforts [Relation] cause [Effect] We expect JPMorgan to achieve a sub-55% efficiency ratio by the end of our forecast",
    "valid": false
  },
  {
    "input": "With its dominant share at home, leading brands, and sufficient resources, we believe Hershey is a critical partner for retailers that are reluctant to risk out-of-stocks with unproven suppliers, supporting the intangible asset source of its wide moat. As such, we expect the firm's returns on invested capital to remain above its cost of capital, even under a more bearish outlook, over the next 20 years.",
    "output": "[Cause] Hershey's dominant share at home, leading brands, and sufficient resources [Relation] enable [Effect] Hershey is a critical partner for retailers that are reluctant to risk out-of-stocks with unproven suppliers",
    "gold": "[Cause] With its dominant share at home, leading brands, and sufficient resources, we believe Hershey is a critical partner for retailers that are reluctant to risk out-of-stocks with unproven suppliers, supporting the intangible asset source of its wide moat [Relation] cause [Effect] the firm's returns on invested capital to remain above its cost of capital, even under a more bearish outlook, over the next 20 years",
    "valid": false
  },
  {
    "input": "Today, farmers are more confident in the demand outlook, as trade tensions have eased, and weather has generally not been an issue.",
    "output": "[Cause] trade tensions have eased, and weather has generally not been an issue [Relation] cause [Effect] farmers are more confident in the demand outlook",
    "gold": "[Cause] trade tensions have eased, and weather has generally not been an issue [Relation] cause [Effect] farmers are more confident in the demand outlook",
    "valid": true
  },
  {
    "input": "Finally, China's consumers typically have greater brand recognition than many of their peers in developed nations, and we believe this bodes well for Yum China, given that these consumers grew up during KFC's and Pizza Hut's expansion phases in the region.",
    "output": "[Cause] China's consumers typically have greater brand recognition than many of their peers in developed nations [Relation] enable [Effect] bodes well for Yum China",
    "gold": "[Cause] these consumers grew up during KFC's and Pizza Hut's expansion phases in the region [Relation] cause [Effect] China's consumers typically have greater brand recognition than many of their peers in developed nations, and we believe this bodes well for Yum China",
    "valid": false
  },
  {
    "input": "We attribute the irrational pricing of loans in Italy to the competitive environment, the ownership structure of Italian banks, and political influence.",
    "output": "[Cause] the competitive environment, the ownership structure of Italian banks, and political influence [Relation] cause [Effect] the irrational pricing of loans in Italy",
    "gold": "[Cause] the competitive environment, the ownership structure of Italian banks, and political influence [Relation] cause [Effect] the irrational pricing of loans in Italy",
    "valid": true
  },
  {
    "input": "But the ongoing fluidity of coronavirus has made deployment efforts difficult, as most ships remain in layup and others that redeploy could be forced to book within an extremely short booking window, hindering pricing power.",
    "output": "[Cause] the ongoing fluidity of coronavirus [Relation] hinder [Effect] deployment efforts difficult, most ships remain in layup, others that redeploy could be forced to book within an extremely short booking window",
    "gold": "[Cause] the ongoing fluidity of coronavirus [Relation] cause [Effect] most ships remain in layup and others that redeploy could be forced to book within an extremely short booking window, hindering pricing power",
    "valid": false
  },
  {
    "input": "But the ongoing fluidity of coronavirus has made deployment efforts difficult, as most ships remain in layup and others that redeploy could be forced to book within an extremely short booking window, hindering pricing power.",
    "output": "[Cause] ongoing fluidity of coronavirus, most ships remain in layup [Relation] cause [Effect] deployment efforts difficult, hindering pricing power",
    "gold": "[Cause] most ships remain in layup and others that redeploy could be forced to book within an extremely short booking window, hindering pricing power [Relation] cause [Effect] deployment efforts difficult",
    "valid": false
  },
  {
    "input": "Online sales have skyrocketed, validating Target's digital strategy (using stores as omnichannel fulfillment hubs) but complicating execution and adding cost pressure that could linger after cost leverage abates once sales normalize.",
    "output": "[Cause] Online sales have skyrocketed [Relation] cause [Effect] complicating execution and adding cost pressure",
    "gold": "[Cause] Online sales have skyrocketed [Relation] cause [Effect] validating Target's digital strategy",
    "valid": false
  },
  {
    "input": "Online sales have skyrocketed, validating Target's digital strategy (using stores as omnichannel fulfillment hubs) but complicating execution and adding cost pressure that could linger after cost leverage abates once sales normalize.",
    "output": "[Cause] Online sales have skyrocketed [Relation] cause [Effect] validating Target's digital strategy (using stores as omnichannel fulfillment hubs)",
    "gold": "[Cause] complicating execution [Relation] cause [Effect] linger after cost leverage abates",
    "valid": false
  },
  {
    "input": "Online sales have skyrocketed, validating Target's digital strategy (using stores as omnichannel fulfillment hubs) but complicating execution and adding cost pressure that could linger after cost leverage abates once sales normalize.",
    "output": "[Cause] Online sales have skyrocketed, validating Target's digital strategy (using stores as omnichannel fulfillment hubs) [Relation] cause [Effect] complicating execution and adding cost pressure",
    "gold": "[Cause] adding cost pressure [Relation] cause [Effect] linger after cost leverage abates",
    "valid": false
  },
  {
    "input": "Online sales have skyrocketed, validating Target's digital strategy (using stores as omnichannel fulfillment hubs) but complicating execution and adding cost pressure that could linger after cost leverage abates once sales normalize.",
    "output": "[Cause] Online sales have skyrocketed, validating Target's digital strategy (using stores as omnichannel fulfillment hubs) [Relation] validate [Effect] complicating execution and adding cost pressure",
    "gold": "[Cause] sales normalize [Relation] cause [Effect] linger after cost leverage abates",
    "valid": false
  },
  {
    "input": "Also, although Knight's cost execution is quite strong, limited driver availability is placing upward pressure on driver wages and recruiting costs.",
    "output": "[Cause] limited driver availability [Relation] cause [Effect] placing upward pressure on driver wages and recruiting costs",
    "gold": "[Cause] limited driver availability [Relation] cause [Effect] placing upward pressure on driver wages and recruiting costs",
    "valid": true
  },
  {
    "input": "We expect core usage to decline 1.5% annually, with recovery in volumes in 2021 after a decline in volumes in 2020 due mostly to pandemic headwinds.",
    "output": "[Cause] decline in volumes in 2020 due mostly to pandemic headwinds [Relation] cause [Effect] recovery in volumes in 2021",
    "gold": "[Cause] pandemic headwinds [Relation] cause [Effect] a decline in volumes in 2020",
    "valid": false
  },
  {
    "input": "From a profit perspective, we view the firm's aims to extract $850 million in costs as prudent, but think increased spending on sanitation and safety at its manufacturing facilities will act as a near-term offset.",
    "output": "[Cause] increased spending on sanitation and safety at its manufacturing facilities [Relation] offset [Effect] act as a near-term offset to the firm's aims to extract $850 million in costs",
    "gold": "[Cause] think increased spending on sanitation and safety at its manufacturing facilities will act as a near-term offset [Relation] enable [Effect] we view the firm's aims to extract $850 million in costs as prudent",
    "valid": false
  },
  {
    "input": "That declined to less than $0.40 per gigabyte in 2018 amid considerable investments from NAND players and we currently estimate it will continue to decrease to between $0.10-$0.15 by 2022.",
    "output": "[Cause] considerable investments from NAND players [Relation] cause [Effect] declined to less than $0.40 per gigabyte in 2018",
    "gold": "[Cause] considerable investments from NAND players [Relation] cause [Effect] declined to less than $0.40 per gigabyte in 2018",
    "valid": true
  },
  {
    "input": "Though the cost advantage of HDDs over SSDs is progressively narrowing, the need for cheap high-capacity storage in data centers will continue to support the demand for enterprise HDDs, which carry higher average selling prices and margins than PC HDDs.",
    "output": "[Cause] the need for cheap high-capacity storage in data centers [Relation] enable [Effect] support the demand for enterprise HDDs",
    "gold": "[Cause] the need for cheap high-capacity storage in data centers will continue to support the demand for enterprise HDDs [Relation] cause [Effect] higher average selling prices and margins than PC HDDs",
    "valid": false
  },
  {
    "input": "As such, despite regular mergers and acquisitions, which add goodwill and assets to the firm's capital base, Idex has consistently generated returns on invested capital in the upper-mid-teens.",
    "output": "[Cause] regular mergers and acquisitions, which add goodwill and assets to the firm's capital base [Relation] enable [Effect] Idex has consistently generated returns on invested capital in the upper-mid-teens",
    "gold": "[Cause] regular mergers and acquisitions, which add goodwill and assets to the firm's capital base [Relation] enable [Effect] Idex has consistently generated returns on invested capital in the upper-mid-teens",
    "valid": true
  },
  {
    "input": "As a reward for accessing Centene's Medicaid plans that can reduce costs and risks for the states, we think states will continue giving Centene the opportunity to generate adequate returns over capital costs for a relatively long period by determining appropriate rates per Medicaid enrollee.",
    "output": "[Cause] accessing Centene's Medicaid plans that can reduce costs and risks for the states [Relation] enable [Effect] states will continue giving Centene the opportunity to generate adequate returns over capital costs for a relatively long period",
    "gold": "[Cause] determining appropriate rates per Medicaid enrollee [Relation] enable [Effect] states will continue giving Centene the opportunity to generate adequate returns over capital costs for a relatively long period",
    "valid": false
  },
  {
    "input": "This creates potential greenhouse gas emissions, effluents, pipeline spills, and opposition and protests that in the long run could push consumers away from fossil fuels in greater numbers, resulting in long-term demand erosion.",
    "output": "[Cause] potential greenhouse gas emissions, effluents, pipeline spills, and opposition and protests [Relation] cause [Effect] push consumers away from fossil fuels in greater numbers, resulting in long-term demand erosion",
    "gold": "[Cause] push consumers away from fossil fuels in greater numbers [Relation] cause [Effect] resulting in long-term demand erosion",
    "valid": false
  },
  {
    "input": "We believe this strong deposit share, along with the relationships and reputation Huntington has formed, has resulted in an ability to earn higher returns, in large part due to higher fee-income levels, leading to cost advantages as well as switching costs.",
    "output": "[Cause] strong deposit share, relationships, and reputation Huntington has formed [Relation] enable [Effect] ability to earn higher returns, higher fee-income levels, cost advantages, switching costs",
    "gold": "[Cause] higher fee-income levels [Relation] cause [Effect] cost advantages as well as switching costs",
    "valid": false
  },
  {
    "input": "We believe this strong deposit share, along with the relationships and reputation Huntington has formed, has resulted in an ability to earn higher returns, in large part due to higher fee-income levels, leading to cost advantages as well as switching costs.",
    "output": "[Cause] strong deposit share, relationships, and reputation Huntington has formed [Relation] enable [Effect] ability to earn higher returns, higher fee-income levels, cost advantages, switching costs",
    "gold": "[Cause] the relationships and reputation Huntington has formed [Relation] cause [Effect] an ability to earn higher returns",
    "valid": false
  },
  {
    "input": "We expect higher interest rates to lead to modest deterioration in P&C underwriting results in the back half of our projection period.",
    "output": "[Cause] higher interest rates [Relation] cause [Effect] modest deterioration in P&C underwriting results in the back half of our projection period",
    "gold": "[Cause] higher interest rates [Relation] cause [Effect] modest deterioration in P&C underwriting results in the back half of our projection period",
    "valid": true
  },
  {
    "input": "But this should not affect InterContinental's uncertainty rating unless travel demand returns to near zero for an extended period, leading to potential needs for incremental liquidity, which perhaps could occur at value-destructive levels.",
    "output": "[Cause] travel demand returns to near zero for an extended period [Relation] cause [Effect] potential needs for incremental liquidity, which perhaps could occur at value-destructive levels",
    "gold": "[Cause] this should not affect InterContinental's uncertainty rating [Relation] cause [Effect] potential needs for incremental liquidity",
    "valid": false
  },
  {
    "input": "NICE is also making a high degree of investments into its platform to offer extra modules and build out a best-in-class contact center offering.",
    "output": "[Cause] NICE is making a high degree of investments into its platform [Relation] cause [Effect] to offer extra modules and build out a best-in-class contact center offering",
    "gold": "[Cause] NICE is also making a high degree of investments into its platform [Relation] enable [Effect] extra modules and build out a best-in-class contact center offering",
    "valid": false
  },
  {
    "input": "Philip Morris International's Unsmoke campaign, if successful, will transform its product portfolio from cigarettes to a broader suite of next-generation nicotine products comprising combustibles, heated tobacco and vaping.",
    "output": "[Cause] Philip Morris International's Unsmoke campaign, if successful [Relation] cause [Effect] will transform its product portfolio from cigarettes to a broader suite of next-generation nicotine products comprising combustibles, heated tobacco and vaping",
    "gold": "[Cause] Philip Morris International's Unsmoke campaign, if successful [Relation] enable [Effect] will transform its product portfolio from cigarettes to a broader suite of next-generation nicotine products comprising combustibles, heated tobacco and vaping",
    "valid": true
  },
  {
    "input": "We anticipate torrid growth for mass capacity exabyte shipments to more than offset pricing declines over our explicit forecast, resulting in 9% compound annual growth through 2025.",
    "output": "[Cause] torrid growth for mass capacity exabyte shipments [Relation] enable [Effect] more than offset pricing declines",
    "gold": "[Cause] We anticipate torrid growth for mass capacity exabyte shipments to more than offset pricing declines over our explicit forecast [Relation] cause [Effect] 9% compound annual growth through 2025",
    "valid": false
  },
  {
    "input": "Still, we don't think the stock is worth nearly as much independently as the deal price, so in our view there is significant downside if the merger doesn't go through but only limited upside if it does.",
    "output": "[Cause] the merger doesn't go through [Relation] prevent [Effect] significant downside",
    "gold": "[Cause] we don't think the stock is worth nearly as much independently as the deal price [Relation] cause [Effect] in our view there is significant downside if the merger doesn't go through but only limited upside if it does",
    "valid": false
  },
  {
    "input": "On the consulting side, revenue can be lumpy, and Marsh & McLennan's exposure is primarily to the health of the employment market and general macroeconomic conditions, as any headwinds in these areas could limit clients willingness to pay for the company's services.",
    "output": "[Cause] headwinds in the employment market and general macroeconomic conditions [Relation] cause [Effect] limit clients' willingness to pay for the company's services",
    "gold": "[Cause] any headwinds in these areas [Relation] prevent [Effect] clients willingness to pay for the company's services",
    "valid": false
  },
  {
    "input": "On the consulting side, revenue can be lumpy, and Marsh & McLennan's exposure is primarily to the health of the employment market and general macroeconomic conditions, as any headwinds in these areas could limit clients willingness to pay for the company's services.",
    "output": "[Cause] headwinds in the employment market and general macroeconomic conditions [Relation] cause [Effect] limit clients willingness to pay for the company's services",
    "gold": "[Cause] the health of the employment market and general macroeconomic conditions [Relation] cause [Effect] revenue can be lumpy, and Marsh & McLennan's exposure",
    "valid": false
  },
  {
    "input": "For 2020, we expect 25% comp growth and around 170 basis points of adjusted operating margin improvement (to 10.8%) as the company has been able to better leverage costs on higher COVID-19-related sales.",
    "output": "[Cause] the company has been able to better leverage costs on higher COVID-19-related sales [Relation] enable [Effect] 25% comp growth and around 170 basis points of adjusted operating margin improvement (to 10.8%)",
    "gold": "[Cause] the company has been able to better leverage costs on higher COVID-19-related sales [Relation] cause [Effect] 25% comp growth and around 170 basis points of adjusted operating margin improvement (to 10.8%)",
    "valid": true
  },
  {
    "input": "Instead of sending data back to a centralized data center, which becomes cumbersome for high-bandwidth items and real-time data analysis requirements, HCI allows for rapid processing within a localized site, while still being part of the larger network.",
    "output": "[Cause] Instead of sending data back to a centralized data center [Relation] enable [Effect] HCI allows for rapid processing within a localized site",
    "gold": "[Cause] sending data back to a centralized data center, which becomes cumbersome for high-bandwidth items and real-time data analysis requirements [Relation] cause [Effect] HCI allows for rapid processing within a localized site, while still being part of the larger network",
    "valid": false
  },
  {
    "input": "The industry is consolidating because smaller players cannot compete with the scale and cost savings achieved through roll-up acquisitions pursued by the six publicly traded franchise dealerships.",
    "output": "[Cause] smaller players cannot compete with the scale and cost savings achieved through roll-up acquisitions pursued by the six publicly traded franchise dealerships [Relation] enable [Effect] The industry is consolidating",
    "gold": "[Cause] smaller players cannot compete with the scale and cost savings achieved through roll-up acquisitions pursued by the six publicly traded franchise dealerships [Relation] cause [Effect] The industry is consolidating",
    "valid": true
  },
  {
    "input": "We estimate Nordstrom's WACC at 9% and, therefore, expect it to generate economic profits for most of the next 10 years.",
    "output": "[Cause] WACC estimated at 9% [Relation] enable [Effect] expect Nordstrom to generate economic profits for most of the next 10 years",
    "gold": "[Cause] Nordstrom's WACC at 9% [Relation] cause [Effect] generate economic profits for most of the next 10 years",
    "valid": false
  },
  {
    "input": "Although management may have mistimed the product refresh cycle a bit, Waters' recently launched LC-MS tool, BioAccord, will cater specifically to the needs of biologic-focused customers and should help the company regain its footing.",
    "output": "[Cause] management may have mistimed the product refresh cycle a bit [Relation] enable [Effect] Waters' recently launched LC-MS tool, BioAccord, will cater specifically to the needs of biologic-focused customers",
    "gold": "[Cause] LC-MS tool, BioAccord [Relation] enable [Effect] cater specifically to the needs of biologic-focused customers and should help the company regain its footing",
    "valid": false
  },
  {
    "input": "Rio and Vale overinvested to a greater degree than BHP in the boom, more greatly diluting long-term returns.",
    "output": "[Cause] Rio and Vale overinvested to a greater degree than BHP in the boom [Relation] cause [Effect] more greatly diluting long-term returns",
    "gold": "[Cause] Rio and Vale overinvested to a greater degree than BHP in the boom [Relation] enable [Effect] more greatly diluting long-term returns",
    "valid": true
  },
  {
    "input": "Delta does not hedge fuel costs and would likely face substantial margin pressures in the event of an oil price spike.",
    "output": "[Cause] Delta does not hedge fuel costs [Relation] cause [Effect] likely face substantial margin pressures in the event of an oil price spike",
    "gold": "[Cause] an oil price spike [Relation] cause [Effect] Delta does not hedge fuel costs and would likely face substantial margin pressures",
    "valid": false
  },
  {
    "input": "Robinson enjoys a variable-cost business model, but its adjusted EBIT margin (calculated off net revenue) fell in 2020 on lower net revenue and Prime integration costs.",
    "output": "[Cause] lower net revenue and Prime integration costs [Relation] cause [Effect] Robinson's adjusted EBIT margin (calculated off net revenue) fell in 2020",
    "gold": "[Cause] a variable-cost business model [Relation] prevent [Effect] net revenue and Prime integration costs",
    "valid": false
  },
  {
    "input": "As a result, AMD hasn't enjoyed the scale, research, and development advantages that Intel holds and proliferates in successive processor generations, which ultimately led to further share gains for the latter at the expense of the former.",
    "output": "[Cause] AMD hasn't enjoyed the scale, research, and development advantages that Intel holds and proliferates in successive processor generations [Relation] cause [Effect] further share gains for Intel at the expense of AMD",
    "gold": "[Cause] AMD hasn't enjoyed the scale, research, and development advantages that Intel holds and proliferates in successive processor generations [Relation] cause [Effect] further share gains for the latter at the expense of the former",
    "valid": false
  },
  {
    "input": "Its portfolio of widely successful franchises allows the firm to monetize its intellectual property year after year by delivering content via sequels, expansion packs, downloadable content, or DLC, and toys, exemplified by the decade-old World of Warcraft franchise and the annual versions of Call of Duty.",
    "output": "[Cause] Its portfolio of widely successful franchises [Relation] cause [Effect] allows the firm to monetize its intellectual property year after year",
    "gold": "[Cause] Its portfolio of widely successful franchises [Relation] enable [Effect] the firm to monetize its intellectual property year after year by delivering content via sequels, expansion packs, downloadable content, or DLC, and toys",
    "valid": false
  },
  {
    "input": "As more buyers and sellers trade a proprietary product, it becomes increasingly liquid and therefore cheaper for investors to transact business on a single exchange. These are significantly high barriers to entry and mostly ensure that newcomers will not be able to steal trading volume by launching a competing future or derivative.",
    "output": "[Cause] more buyers and sellers trade a proprietary product [Relation] enable [Effect] it becomes increasingly liquid and therefore cheaper for investors to transact business on a single exchange",
    "gold": "[Cause] As more buyers and sellers trade a proprietary product, it becomes increasingly liquid and therefore cheaper for investors to transact business on a single exchange [Relation] prevent [Effect] entry and mostly ensure that newcomers will not be able to steal trading volume by launching a competing future or derivative",
    "valid": false
  },
  {
    "input": "In addition, because the process relies on third parties for key inputs cement and to a lesser extent, aggregates, a healthy uptick in construction activity results in rising material costs.",
    "output": "[Cause] a healthy uptick in construction activity [Relation] cause [Effect] rising material costs",
    "gold": "[Cause] a healthy uptick in construction activity [Relation] cause [Effect] rising material costs",
    "valid": true
  },
  {
    "input": "We expect the crisis subsides by midyear, with a low-single-digit fiscal 2021 comparable sales dip as Target laps exceptional pandemic-era growth.",
    "output": "[Cause] Target laps exceptional pandemic-era growth [Relation] cause [Effect] a low-single-digit fiscal 2021 comparable sales dip",
    "gold": "[Cause] Target laps exceptional pandemic-era growth [Relation] cause [Effect] a low-single-digit fiscal 2021 comparable sales dip",
    "valid": true
  },
  {
    "input": "Buying $3 billion-$5 billion of revenue every year brings risk of Lithia buying some lower-quality stores or overpaying for high-performing stores than in the past.",
    "output": "[Cause] Buying $3 billion-$5 billion of revenue every year [Relation] cause [Effect] brings risk of Lithia buying some lower-quality stores or overpaying for high-performing stores than in the past",
    "gold": "[Cause] Buying $3 billion-$5 billion of revenue every year [Relation] cause [Effect] brings risk of Lithia buying some lower-quality stores or overpaying for high-performing stores than in the past",
    "valid": true
  },
  {
    "input": "In the worst-case scenario of a failed implementation, companies could experience dropped calls, messages that do not go through, or total system failure, which would limit internal productivity and cause significant frustration for employees in customer-facing roles.",
    "output": "[Cause] failed implementation [Relation] cause [Effect] companies could experience dropped calls, messages that do not go through, or total system failure",
    "gold": "[Cause] companies could experience dropped calls, messages that do not go through, or total system failure [Relation] cause [Effect] limit internal productivity and cause significant frustration for employees in customer-facing roles",
    "valid": false
  },
  {
    "input": "The transition to 10-, 7-, and 5-nanometer processes at logic and foundry customers has significantly increased the number of multiple patterning-related process steps, which subsequently expanded Lam's served addressable market.",
    "output": "[Cause] The transition to 10-, 7-, and 5-nanometer processes at logic and foundry customers [Relation] cause [Effect] significantly increased the number of multiple patterning-related process steps",
    "gold": "[Cause] The transition to 10-, 7-, and 5-nanometer processes at logic and foundry customers has significantly increased the number of multiple patterning-related process steps [Relation] enable [Effect] subsequently expanded Lam's served addressable market",
    "valid": false
  },
  {
    "input": "Avago's expertise in radio frequency filters for smartphones and legacy Broadcom's dominance in networking, broadband, and wireless connectivity created a broad and profitable semiconductor behemoth.",
    "output": "[Cause] Avago's expertise in radio frequency filters for smartphones and legacy Broadcom's dominance in networking, broadband, and wireless connectivity [Relation] enable [Effect] created a broad and profitable semiconductor behemoth",
    "gold": "[Cause] Avago's expertise in radio frequency filters for smartphones and legacy Broadcom's dominance in networking, broadband, and wireless connectivity [Relation] cause [Effect] created a broad and profitable semiconductor behemoth",
    "valid": true
  },
  {
    "input": "A slowdown in investment given macroeconomic uncertainty could impede profitability, and long-term credit costs as a result of the COVID-19 crisis and subsequent lockdowns are nebulous at best, often highly dependent on variables outside the firm's control.",
    "output": "[Cause] A slowdown in investment given macroeconomic uncertainty [Relation] cause [Effect] impede profitability",
    "gold": "[Cause] the COVID-19 crisis and subsequent lockdowns [Relation] cause [Effect] long-term credit costs",
    "valid": false
  },
  {
    "input": "A slowdown in investment given macroeconomic uncertainty could impede profitability, and long-term credit costs as a result of the COVID-19 crisis and subsequent lockdowns are nebulous at best, often highly dependent on variables outside the firm's control.",
    "output": "[Cause] slowdown in investment given macroeconomic uncertainty [Relation] cause [Effect] impede profitability",
    "gold": "[Cause] A slowdown in investment [Relation] prevent [Effect] profitability",
    "valid": false
  },
  {
    "input": "Contracts purchased at ICE's exchanges cannot be closed at another exchange and vice versa, which keeps ICE's liquidity pools captive to its exchanges and creates additional barriers to entry for potential competitors.",
    "output": "[Cause] Contracts purchased at ICE's exchanges cannot be closed at another exchange and vice versa [Relation] cause [Effect] keeps ICE's liquidity pools captive to its exchanges and creates additional barriers to entry for potential competitors",
    "gold": "[Cause] Contracts purchased at ICE's exchanges cannot be closed at another exchange and vice versa [Relation] cause [Effect] keeps ICE's liquidity pools captive to its exchanges and creates additional barriers to entry for potential competitors",
    "valid": true
  },
  {
    "input": "Moreover, due to reduced distribution and the pandemic, we do not expect PVH to eclipse its 2019 total sales until 2024.",
    "output": "[Cause] reduced distribution and the pandemic [Relation] cause [Effect] PVH will not eclipse its 2019 total sales until 2024",
    "gold": "[Cause] educed distribution and the pandemic [Relation] prevent [Effect] PVH to eclipse its 2019 total sales until 2024",
    "valid": false
  },
  {
    "input": "Inflation is a major risk for Brazilian banks, especially in a macroeconomic environment of extended lockdowns, elevated unemployment and burgeoning debt/GDP.",
    "output": "[Cause] macroeconomic environment of extended lockdowns, elevated unemployment, and burgeoning debt/GDP [Relation] cause [Effect] Inflation is a major risk for Brazilian banks",
    "gold": "[Cause] in a macroeconomic environment of extended lockdowns, elevated unemployment and burgeoning debt/GDP [Relation] cause [Effect] Inflation is a major risk for Brazilian banks",
    "valid": false
  },
  {
    "input": "By these measures, we believe Federated has about an average switching cost profile (at best) when compared with the industry and our peer coverage group, as it has to work harder to generate positive flows given the above (below) average redemption (retention) rate for its long-term funds.",
    "output": "[Cause] above (below) average redemption (retention) rate for its long-term funds [Relation] cause [Effect] Federated has about an average switching cost profile (at best) when compared with the industry and our peer coverage group",
    "gold": "[Cause] the above (below) average redemption (retention) rate for its long-term funds [Relation] cause [Effect] it has to work harder to generate positive flows",
    "valid": false
  },
  {
    "input": "As such, we believe the firm's portfolio mix shift toward more on-trend categories, like healthy snacks and organics following the acquisitions of Amplify and Pirate Brands, has been prudent, given these offerings align with consumer preferences for healthy and convenient fare.",
    "output": "[Cause] the firm's portfolio mix shift toward more on-trend categories, like healthy snacks and organics following the acquisitions of Amplify and Pirate Brands [Relation] cause [Effect] prudent decision",
    "gold": "[Cause] these offerings align with consumer preferences for healthy and convenient fare [Relation] cause [Effect] the firm's portfolio mix shift toward more on-trend categories",
    "valid": false
  },
  {
    "input": "We share Juniper's view that its customer verticals are becoming further entwined as we believe software-based solutions are blurring the requirements for siloed solutions.",
    "output": "[Cause] software-based solutions are blurring the requirements for siloed solutions [Relation] cause [Effect] customer verticals are becoming further entwined",
    "gold": "[Cause] software-based solutions are blurring the requirements for siloed solutions [Relation] cause [Effect] customer verticals are becoming further entwined",
    "valid": true
  },
  {
    "input": "We think a very high cost of equity and above average cost of debt are reasonable for this airline, given United's' highly cyclical business model and leveraged balance sheet.",
    "output": "[Cause] United's highly cyclical business model and leveraged balance sheet [Relation] attribute [Effect] a very high cost of equity and above average cost of debt are reasonable for this airline",
    "gold": "[Cause] United's' highly cyclical business model and leveraged balance sheet [Relation] cause [Effect] a very high cost of equity and above average cost of debt are reasonable for this airline",
    "valid": false
  },
  {
    "input": "This new pricing should thus support switching costs, as higher data ingestion leads to more use cases, making Splunk an increasingly integral part of business operations.",
    "output": "[Cause] higher data ingestion leads to more use cases [Relation] enable [Effect] Splunk becomes an increasingly integral part of business operations",
    "gold": "[Cause] higher data ingestion [Relation] cause [Effect] more use cases",
    "valid": false
  },
  {
    "input": "This new pricing should thus support switching costs, as higher data ingestion leads to more use cases, making Splunk an increasingly integral part of business operations.",
    "output": "[Cause] higher data ingestion [Relation] enable [Effect] more use cases",
    "gold": "[Cause] higher data ingestion leads to more use cases [Relation] enable [Effect] Splunk an increasingly integral part of business operations",
    "valid": false
  },
  {
    "input": "Overall, we forecast a five-year revenue CAGR of 23%, considerably lower than the historical norm, reflecting both Dexcom's significantly larger revenue base and lineup of new products, which we expect will be partially offset by more intense competition from Abbott and Medtronic over the longer term.",
    "output": "[Cause] Dexcom's significantly larger revenue base and lineup of new products [Relation] cause [Effect] forecast a five-year revenue CAGR of 23%, considerably lower than the historical norm",
    "gold": "[Cause] more intense competition from Abbott and Medtronic over the longer term [Relation] cause [Effect] Dexcom's significantly larger revenue base and lineup of new products, which we expect will be partially offset",
    "valid": false
  },
  {
    "input": "Allstate and other auto insurers enjoyed abnormal levels of profitability in 2020, as the pandemic led to a stark decrease in miles driven.",
    "output": "[Cause] the pandemic led to a stark decrease in miles driven [Relation] cause [Effect] Allstate and other auto insurers enjoyed abnormal levels of profitability in 2020",
    "gold": "[Cause] the pandemic led to a stark decrease in miles driven [Relation] cause [Effect] Allstate and other auto insurers enjoyed abnormal levels of profitability in 2020",
    "valid": true
  },
  {
    "input": "Despite the improvement in both businesses, we expect company-wide EBITDA margin to remain relatively flat over the next five years, as the less profitable wireless business makes up a much greater portion of the total business.",
    "output": "[Cause] the less profitable wireless business makes up a much greater portion of the total business [Relation] cause [Effect] company-wide EBITDA margin to remain relatively flat over the next five years",
    "gold": "[Cause] the less profitable wireless business makes up a much greater portion of the total business [Relation] enable [Effect] company-wide EBITDA margin to remain relatively flat over the next five years",
    "valid": true
  },
  {
    "input": "While many of these have been margin dilutive upon acquisition--for example, FCI which had roughly 15% operating margins before acquisition--Amphenol has been able to put cost control measures in place to relatively quickly improve operating margins.",
    "output": "[Cause] cost control measures put in place by Amphenol [Relation] enable [Effect] relatively quickly improve operating margins",
    "gold": "[Cause] Amphenol has been able to put cost control measures in place [Relation] enable [Effect] relatively quickly improve operating margins",
    "valid": false
  },
  {
    "input": "We expect Mosaic to produce around 8 million metric tons in 2020, amid lower potash prices, in line with the 7.8 million metric tons produced in 2019, and well below the 8.8 million metric tons sold in 2018 amid higher prices.",
    "output": "[Cause] lower potash prices [Relation] cause [Effect] Mosaic to produce around 8 million metric tons in 2020",
    "gold": "[Cause] in line with the 7.8 million metric tons produced in 2019, and well below the 8.8 million metric tons sold in 2018 amid higher prices [Relation] cause [Effect] expect Mosaic to produce around 8 million metric tons in 2020",
    "valid": false
  },
  {
    "input": "Total's profits and cash flow are largely tied to oil and gas production and suffer markedly during periods of weak commodity prices.",
    "output": "[Cause] weak commodity prices [Relation] cause [Effect] Total's profits and cash flow suffer markedly",
    "gold": "[Cause] weak commodity prices [Relation] cause [Effect] Total's profits and cash flow are largely tied to oil and gas production and suffer markedly",
    "valid": false
  },
  {
    "input": "Additionally, we think Telecom Italia is more resilient than Vodafone and Wind Tre due to its position in the premium market segment.",
    "output": "[Cause] Telecom Italia's position in the premium market segment [Relation] cause [Effect] Telecom Italia is more resilient than Vodafone and Wind Tre",
    "gold": "[Cause] its position in the premium market segment [Relation] cause [Effect] Telecom Italia is more resilient than Vodafone and Wind Tre",
    "valid": false
  },
  {
    "input": "We have reduced our fair value estimate for Telefonica Brasil to $11 from $12 per ADR due to weakness in the Brazilian real, offset in part by expectations that the weak real will push telecom services pricing higher over the next five years.",
    "output": "[Cause] weakness in the Brazilian real [Relation] cause [Effect] reduced fair value estimate for Telefonica Brasil to $11 from $12 per ADR",
    "gold": "[Cause] weakness in the Brazilian real [Relation] cause [Effect] We have reduced our fair value estimate for Telefonica Brasil to $11 from $12 per ADR",
    "valid": false
  },
  {
    "input": "With an expanding operating margin ahead thanks to further supply chain and merchandising amendments underway, we view Lowe's 13% operating margin forecast as achievable; additionally, we forecast a 38% ROIC in our terminal year.",
    "output": "[Cause] further supply chain and merchandising amendments underway [Relation] enable [Effect] expanding operating margin ahead",
    "gold": "[Cause] an expanding operating margin ahead [Relation] enable [Effect] a 38% ROIC in our terminal year",
    "valid": false
  },
  {
    "input": "Given that the buildings are generally around 12,000 square feet and development costs are frequently under $5 million, the barriers to entry are very low, so development can easily match new demand.",
    "output": "[Cause] the buildings are generally around 12,000 square feet and development costs are frequently under $5 million [Relation] cause [Effect] the barriers to entry are very low",
    "gold": "[Cause] the buildings are generally around 12,000 square feet and development costs are frequently under $5 million, the barriers to entry are very low [Relation] cause [Effect] development can easily match new demand",
    "valid": false
  },
  {
    "input": "RevPAR grew around 5% between 2011 and 2015 through a combination of occupancy and rate growth, but as occupancy leveled off in 2016 we have seen the pace of average rate growth slow for the U.S.",
    "output": "[Cause] occupancy leveled off in 2016 [Relation] cause [Effect] the pace of average rate growth slow for the U.S.",
    "gold": "[Cause] a combination of occupancy and rate growth [Relation] cause [Effect] RevPAR grew around 5% between 2011 and 2015",
    "valid": false
  },
  {
    "input": "RevPAR grew around 5% between 2011 and 2015 through a combination of occupancy and rate growth, but as occupancy leveled off in 2016 we have seen the pace of average rate growth slow for the U.S.",
    "output": "[Cause] occupancy leveled off in 2016 [Relation] cause [Effect] slow pace of average rate growth",
    "gold": "[Cause] occupancy leveled off in 2016 [Relation] cause [Effect] the pace of average rate growth slow for the U.S.",
    "valid": false
  },
  {
    "input": "However, we don't surmise that the current trajectory is poised to prove sustainable (as coronavirus concerns fade when a vaccine is brought to market, which we expect by mid-2021).",
    "output": "[Cause] coronavirus concerns fade when a vaccine is brought to market [Relation] prevent [Effect] the current trajectory is not poised to prove sustainable",
    "gold": "[Cause] coronavirus concerns fade when a vaccine is brought to market, which we expect by mid-2021 [Relation] cause [Effect] we don't surmise that the current trajectory is poised to prove sustainable",
    "valid": false
  },
  {
    "input": "Alibaba's desktop and mobile monetization rates (revenue as a percentage of GMV) have generally been on upward trends the past few quarters, which indicates that sellers are becoming increasingly dependent on Alibaba's marketplaces to reach Chinese consumers.",
    "output": "[Cause] sellers are becoming increasingly dependent on Alibaba's marketplaces to reach Chinese consumers [Relation] cause [Effect] Alibaba's desktop and mobile monetization rates have generally been on upward trends",
    "gold": "[Cause] sellers are becoming increasingly dependent on Alibaba's marketplaces to reach Chinese consumers [Relation] cause [Effect] Alibaba's desktop and mobile monetization rates (revenue as a percentage of GMV) have generally been on upward trends the past few quarters",
    "valid": false
  },
  {
    "input": "A prolonged decline in copper prices could result in elevated unemployment, a depreciation of the peso as the balance of payments deteriorated, and more difficulty meeting foreign denominated debt obligations and expenses.",
    "output": "[Cause] A prolonged decline in copper prices [Relation] cause [Effect] ",
    "gold": "[Cause] the balance of payments deteriorated, and more difficulty meeting foreign denominated debt obligations and expenses [Relation] cause [Effect] depreciation of the peso",
    "valid": false
  },
  {
    "input": "While the competitive intensity of the new businesses is higher than the core refined product pipelines, we've been impressed by Magellan's capital discipline, as the projects have yielded high returns and supported continued distribution growth.",
    "output": "[Cause] Magellan's capital discipline, as the projects have yielded high returns [Relation] enable [Effect] supported continued distribution growth",
    "gold": "[Cause] the competitive intensity of the new businesses is higher than the core refined product pipelines, we've been impressed by Magellan's capital discipline [Relation] cause [Effect] the projects have yielded high returns and supported continued distribution growth",
    "valid": false
  },
  {
    "input": "Management sharply increased the scale of the HNH operations via the $567 million acquisition of SensoryEffects in May 2014, which increased HNH revenue more than fivefold.",
    "output": "[Cause] $567 million acquisition of SensoryEffects [Relation] cause [Effect] increased the scale of the HNH operations",
    "gold": "[Cause] Management sharply increased the scale of the HNH operations via the $567 million acquisition of SensoryEffects in May 2014 [Relation] enable [Effect] increased HNH revenue more than fivefold",
    "valid": false
  },
  {
    "input": "Trip.com now focuses on domestic travel such as high-frequency travel like staycation, which will help its topline recover faster amid international border closures, but has lower margin.",
    "output": "[Cause] focus on domestic travel such as high-frequency travel like staycation [Relation] enable [Effect] help its topline recover faster amid international border closures,",
    "gold": "[Cause] Trip.com now focuses on domestic travel such as high-frequency travel like staycation [Relation] enable [Effect] its topline recover faster amid international border closures",
    "valid": false
  },
  {
    "input": "As a result, we expect IBM technology services to see a compound annual decline rate of 1% from 2021 to 2025 as more sticky IBM software is applicable in other clouds. Consequently, we expect IBM to benefit from growth in its cloud & cognitive software as its customers transition to hybrid infrastructures, even if it's not to the IBM cloud, as our outlook suggests.",
    "output": "[Cause] more sticky IBM software is applicable in other clouds [Relation] cause [Effect] compound annual decline rate of 1% for IBM technology services from 2021 to 2025",
    "gold": "[Cause] IBM technology services to see a compound annual decline rate of 1% from 2021 to 2025 as more sticky IBM software is applicable in other clouds [Relation] cause [Effect] IBM to benefit from growth in its cloud & cognitive software as its customers transition to hybrid infrastructures, even if it's not to the IBM cloud, as our outlook suggests",
    "valid": false
  },
  {
    "input": "While BMO's focus on the ETF business gives it lower overall spreads, the scale advantage should endure and lead to excess returns on capital for a business that is not capitally intense.",
    "output": "[Cause] BMO's focus on the ETF business [Relation] cause [Effect] gives it lower overall spreads",
    "gold": "[Cause] the scale advantage should endure and lead to excess [Relation] enable [Effect] returns on capital for a business that is not capitally intense.",
    "valid": false
  },
  {
    "input": "In recent years, customers have been consolidating their maintenance, repair, and operations, or MRO, spending with large distributors to leverage their purchasing power and increase operational efficiency.",
    "output": "[Cause] customers consolidating their maintenance, repair, and operations (MRO) spending with large distributors [Relation] enable [Effect] leverage their purchasing power and increase operational efficiency",
    "gold": "[Cause] customers have been consolidating their maintenance, repair, and operations, or MRO, spending with large distributors [Relation] enable [Effect] increase operational efficiency",
    "valid": false
  },
  {
    "input": "Constellation's more productive per-dollar promotional spending, in addition to its superior mix of products, helps support the beer segment's operating margins (roughly 40%), which are best-of-breed among our brewing coverage.",
    "output": "[Cause] Constellation's more productive per-dollar promotional spending, in addition to its superior mix of products [Relation] enable [Effect] supports the beer segment's operating margins (roughly 40%)",
    "gold": "[Cause] Constellation's more productive per-dollar promotional spending [Relation] enable [Effect] support the beer segment's operating margins",
    "valid": false
  },
  {
    "input": "With the global auto industry becoming increasingly competitive, we see margin expansion challenges ahead for Honda.",
    "output": "[Cause] the global auto industry becoming increasingly competitive [Relation] cause [Effect] margin expansion challenges ahead for Honda",
    "gold": "[Cause] the global auto industry becoming increasingly competitive [Relation] cause [Effect] margin expansion challenges ahead for Honda",
    "valid": true
  },
  {
    "input": "Net interest income we have growing at an 6.5% annual rate due to the build in the Marcus platform and eventual recovery in interest rates.",
    "output": "[Cause] build in the Marcus platform and eventual recovery in interest rates [Relation] cause [Effect] Net interest income growing at a 6.5% annual rate",
    "gold": "[Cause] the build in the Marcus platform and eventual recovery in interest rates [Relation] cause [Effect] Net interest income we have growing at an 6.5% annual rate",
    "valid": false
  },
  {
    "input": "Though consumers have benefited from voluntary pension withdrawals, extended periods of elevated unemployment will likely result in increased delinquencies, as well as declines in consumer sentiment.",
    "output": "[Cause] extended periods of elevated unemployment [Relation] cause [Effect] increased delinquencies, declines in consumer sentiment",
    "gold": "[Cause] extended periods of elevated unemployment [Relation] cause [Effect] increased delinquencies, as well as declines in consumer sentiment",
    "valid": false
  },
  {
    "input": "We forecast flat operating earnings for the power and industrial projects segment during the next five years as it adds cogeneration and renewable gas projects to offset the roll-off of earnings from reduced emissions fuel projects.",
    "output": "[Cause] adding cogeneration and renewable gas projects [Relation] offset [Effect] offset the roll-off of earnings from reduced emissions fuel projects",
    "gold": "[Cause] it adds cogeneration and renewable gas projects to offset the roll-off of earnings from reduced emissions fuel projects [Relation] cause [Effect] We forecast flat operating earnings for the power and industrial projects segment during the next five years",
    "valid": false
  },
  {
    "input": "Toronto-Dominion does have a relatively lower exposure to the uninsured domestic real estate market in Canada, putting it in a less risky position in a downturn.",
    "output": "[Cause] relatively lower exposure to the uninsured domestic real estate market in Canada [Relation] cause [Effect] Toronto-Dominion is in a less risky position in a downturn",
    "gold": "[Cause] Toronto-Dominion does have a relatively lower exposure to the uninsured domestic real estate market in Canada [Relation] enable [Effect] it in a less risky position in a downturn",
    "valid": false
  },
  {
    "input": "We project the firm can improve operating margin by another 200 basis points in 2022 once Wright Medical is fully integrated.",
    "output": "[Cause] Wright Medical is fully integrated [Relation] enable [Effect] the firm can improve operating margin by another 200 basis points in 2022",
    "gold": "[Cause] Wright Medical is fully integrated [Relation] enable [Effect] the firm can improve operating margin by another 200 basis points in 2022",
    "valid": true
  },
  {
    "input": "We are increasing our fair value estimate for Coty to $5.50 from $4.54 after incorporating first-quarter earnings that showed encouraging signs that the business is stabilizing under the leadership of new CEO Sue Nabi.",
    "output": "[Cause] first-quarter earnings that showed encouraging signs that the business is stabilizing under the leadership of new CEO Sue Nabi [Relation] cause [Effect] increasing our fair value estimate for Coty to $5.50 from $4.54",
    "gold": "[Cause] after incorporating first-quarter earnings that showed encouraging signs [Relation] cause [Effect] We are increasing our fair value estimate for Coty to $5.50 from $4.54",
    "valid": false
  },
  {
    "input": "There's ample historical precedent, such as Venezuela, where rampant inflation combined with an unstable government and currency controls led to irreparable degradation in the company's operations.",
    "output": "[Cause] rampant inflation combined with an unstable government and currency controls [Relation] cause [Effect] irreparable degradation in the company's operations",
    "gold": "[Cause] rampant inflation combined with an unstable government and currency controls [Relation] cause [Effect] irreparable degradation in the company's operations",
    "valid": true
  },
  {
    "input": "While this strategy is likely to create some challenges, like the potential legal violations that arose in early 2013 in China, we believe the fast-growing emerging markets will help support long-term growth and diversify cash flows beyond developed markets.",
    "output": "[Cause] the strategy of expanding in fast-growing emerging markets [Relation] cause [Effect] potential legal violations in China",
    "gold": "[Cause] fast-growing emerging markets [Relation] enable [Effect] help support long-term growth and diversify cash flows beyond developed markets",
    "valid": false
  },
  {
    "input": "Should this pace continue, additional competition may outweigh the benefits of additional customer eyeballs for the existing retailers, damaging the network effect.",
    "output": "[Cause] additional competition [Relation] outweigh [Effect] damaging the network effect",
    "gold": "[Cause] this pace continue [Relation] cause [Effect] dditional competition may outweigh the benefits of additional customer eyeballs for the existing retailers",
    "valid": false
  },
  {
    "input": "Should this pace continue, additional competition may outweigh the benefits of additional customer eyeballs for the existing retailers, damaging the network effect.",
    "output": "[Cause] additional competition [Relation] cause [Effect] may outweigh the benefits of additional customer eyeballs for the existing retailers, damaging the network effect",
    "gold": "[Cause] dditional competition may outweigh the benefits of additional customer eyeballs for the existing retailers [Relation] cause [Effect] damaging the network effect",
    "valid": false
  },
  {
    "input": "Activewear was weak even before the virus, as it suffered a 3% sales decline in 2019 on poor consumer demand and distributor de-stocking in imprintables.",
    "output": "[Cause] poor consumer demand and distributor de-stocking in imprintables [Relation] cause [Effect] Activewear suffered a 3% sales decline in 2019",
    "gold": "[Cause] it suffered a 3% sales decline in 2019 on poor consumer demand and distributor de-stocking in imprintables [Relation] cause [Effect] Activewear was weak even before the virus",
    "valid": false
  },
  {
    "input": "We like this strategy; CarMax's scale allows it to price below smaller dealerships, and lowering prices should increase comparable-store sales while keeping competitors away, though some large dealers are copying CarMax's shopping experience.",
    "output": "[Cause] CarMax's scale allows it to price below smaller dealerships [Relation] enable [Effect] lowering prices should increase comparable-store sales while keeping competitors away",
    "gold": "[Cause] though some large dealers are copying CarMax's shopping experience [Relation] enable [Effect] We like this strategy; CarMax's scale allows it to price below smaller dealerships, and lowering prices should increase comparable-store sales while keeping competitors away",
    "valid": false
  },
  {
    "input": "Although the company faces an intense competitive landscape, it should succeed in the coming years as the handset industry focuses on 5G devices, which we expect to require higher radio frequency dollar content per phone.",
    "output": "[Cause] the handset industry focuses on 5G devices [Relation] enable [Effect] higher radio frequency dollar content per phone",
    "gold": "[Cause] the handset industry focuses on 5G devices, which we expect to require higher radio frequency dollar content per phone [Relation] enable [Effect] it should succeed in the coming years",
    "valid": false
  },
  {
    "input": "Ultimately, internal controls had broken down, synergies between business lines were questionable, and the situation spiraled out of control as the bank had large exposures to virtually every area of toxic risk during the crisis, including collateralized debt obligations and mortgage-backed securities consisting of subprime assets.",
    "output": "[Cause] internal controls had broken down, synergies between business lines were questionable [Relation] cause [Effect] the situation spiraled out of control",
    "gold": "[Cause] the bank had large exposures to virtually every area of toxic risk during the crisis, including collateralized debt obligations and mortgage-backed securities consisting of subprime assets [Relation] cause [Effect] the situation spiraled out of control",
    "valid": false
  },
  {
    "input": "Paycom doesn't have a clear leadership position, given the fragmented market, so it must consistently invest in its platform to capture and retain customers.",
    "output": "[Cause] Paycom doesn't have a clear leadership position, given the fragmented market [Relation] cause [Effect] must consistently invest in its platform to capture and retain customers",
    "gold": "[Cause] the fragmented market [Relation] cause [Effect] Paycom doesn't have a clear leadership position",
    "valid": false
  },
  {
    "input": "Paycom doesn't have a clear leadership position, given the fragmented market, so it must consistently invest in its platform to capture and retain customers.",
    "output": "[Cause] fragmented market [Relation] cause [Effect] Paycom doesn't have a clear leadership position",
    "gold": "[Cause] Paycom doesn't have a clear leadership position [Relation] cause [Effect] it must consistently invest in its platform to capture and retain customers",
    "valid": false
  },
  {
    "input": "Regulation changes stipulating that all protein providers need to maintain minimum levels of quality (as measured by consistency and bioactivity) could result in customers being more trusting of lower priced protein providers.",
    "output": "[Cause] Regulation changes stipulating that all protein providers need to maintain minimum levels of quality (as measured by consistency and bioactivity) [Relation] cause [Effect] customers being more trusting of lower priced protein providers",
    "gold": "[Cause] Regulation changes stipulating that all protein providers need to maintain minimum levels of quality (as measured by consistency and bioactivity) [Relation] cause [Effect] customers being more trusting of lower priced protein providers",
    "valid": true
  },
  {
    "input": "Finally, due to the short-design cycles, a company's premier solutions may not find the market they are targeting, as has been the case with Synaptics' in-display fingerprint sensor.",
    "output": "[Cause] short-design cycles [Relation] cause [Effect] Synaptics' in-display fingerprint sensor may not find the market they are targeting",
    "gold": "[Cause] he short-design cycles [Relation] cause [Effect] a company's premier solutions may not find the market they are targeting",
    "valid": false
  },
  {
    "input": "Revenue from higher-speed offerings has been growing, and as those packages make up a bigger portion of the base, we think consumer broadband revenue can modestly increase.",
    "output": "[Cause] Revenue from higher-speed offerings has been growing [Relation] cause [Effect] consumer broadband revenue can modestly increase",
    "gold": "[Cause] hose packages make up a bigger portion of the base [Relation] enable [Effect] onsumer broadband revenue can",
    "valid": false
  },
  {
    "input": "Although the company faces an intense competitive landscape, it should succeed in the coming years as the handset industry focuses on 5G devices, which usually require higher radio frequency, or RF, dollar content per phone.",
    "output": "[Cause] the handset industry focuses on 5G devices, which usually require higher radio frequency, or RF, dollar content per phone [Relation] enable [Effect] the company should succeed in the coming years",
    "gold": "[Cause] the handset industry focuses on 5G devices, which usually require higher radio frequency, or RF, dollar content per phone [Relation] cause [Effect] Although the company faces an intense competitive landscape, it should succeed in the coming years",
    "valid": false
  },
  {
    "input": "The firm's direct-to-consumer efforts, Disney+, Hotstar, Hulu, and ESPN+ are taking over as the drivers of long-term growth as the firm transitions to a streaming future.",
    "output": "[Cause] The firm's direct-to-consumer efforts, Disney+, Hotstar, Hulu, and ESPN+ [Relation] cause [Effect] taking over as the drivers of long-term growth",
    "gold": "[Cause] The firm's direct-to-consumer efforts, Disney+, Hotstar, Hulu, and ESPN+ are taking over as the drivers of long-term growth [Relation] enable [Effect] as the firm transitions to a streaming future",
    "valid": false
  },
  {
    "input": "While commercial aircraft customers are highly cyclical, they are also reluctant to renege on orders because of down payments of 1%-2% of contract value on signature and another 20%-25% in the 24 months preceding delivery.",
    "output": "[Cause] down payments of 1%-2% of contract value on signature and another 20%-25% in the 24 months preceding delivery [Relation] cause [Effect] commercial aircraft customers are reluctant to renege on orders",
    "gold": "[Cause] down payments of 1%-2% of contract value on signature and another 20%-25% in the 24 months preceding delivery [Relation] cause [Effect] they are also reluctant to renege on orders",
    "valid": false
  },
  {
    "input": "We anticipate a net addition of more than 40-50 million new Internet users across Latin America over the next five years, which will significantly broaden MercadoLibre's active base of 74 million unique active users.",
    "output": "[Cause] net addition of more than 40-50 million new Internet users across Latin America over the next five years [Relation] cause [Effect] significantly broaden MercadoLibre's active base of 74 million unique active users",
    "gold": "[Cause] a net addition of more than 40-50 million new Internet users [Relation] enable [Effect] broaden MercadoLibre's active",
    "valid": false
  },
  {
    "input": "Since Fortive was spun off from Danaher in 2016, Vontier's parent company prioritized growth in its professional instrumentation business, which left the industrial technology business (now Vontier) with less than 5% of Fortive's M&A capital.",
    "output": "[Cause] Vontier's parent company prioritized growth in its professional instrumentation business [Relation] cause [Effect] left the industrial technology business (now Vontier) with less than 5% of Fortive's M&A capital",
    "gold": "[Cause] Vontier's parent company prioritized growth in its professional instrumentation business [Relation] cause [Effect] left the industrial technology business (now Vontier) with less than 5% of Fortive's M&A capital",
    "valid": true
  },
  {
    "input": "We also expect lower relative selling and distribution costs as scale grows and route structures are optimized (through planning and sequencing) and densified.",
    "output": "[Cause] scale grows and route structures are optimized (through planning and sequencing) and densified [Relation] enable [Effect] lower relative selling and distribution costs",
    "gold": "[Cause] scale grows and route structures are optimized (through planning and sequencing) and densified [Relation] cause [Effect] lower relative selling and distribution costs",
    "valid": true
  },
  {
    "input": "But we think the firm has the wherewithal to withstand the pandemic, which could result in the permanent closure of up to 15% of restaurants, an industry that accounts for 55% of US Foods' sales.",
    "output": "[Cause] the pandemic [Relation] result in [Effect] permanent closure of up to 15% of restaurants, an industry that accounts for 55% of US Foods' sales",
    "gold": "[Cause] the firm has the wherewithal to withstand the pandemic [Relation] enable [Effect] result in the permanent closure of up to 15% of restaurants",
    "valid": false
  },
  {
    "input": "Two potential ESG issues that SBA's business lends itself to are the risk of natural disasters, which seem to have become worse with climate change, and the high level of business the firm does in more developing countries where the rule of law is not as strong.",
    "output": "[Cause] risk of natural disasters, which seem to have become worse with climate change [Relation] cause [Effect] potential ESG issues for SBA's business",
    "gold": "[Cause] SBA's business lends itself to are the risk of natural disasters, which seem to have become worse with climate change, and the high level of business the firm does in more developing countries where the rule of law is not as strong [Relation] cause [Effect] Two potential ESG issues",
    "valid": false
  },
  {
    "input": "Lam, along with its peers, has benefited from an increase in service revenue in recent years, which we believe will mitigate the volatility of equipment orders.",
    "output": "[Cause] an increase in service revenue in recent years [Relation] enable [Effect] Lam, along with its peers, has benefited",
    "gold": "[Cause] Lam, along with its peers, has benefited from an increase in service revenue [Relation] cause [Effect] mitigate the volatility of equipment orders.",
    "valid": false
  },
  {
    "input": "However, the potential for international growth is unproven, as neither Free People nor Anthropologie has any real presence outside North America.",
    "output": "[Cause] neither Free People nor Anthropologie has any real presence outside North America [Relation] cause [Effect] the potential for international growth is unproven",
    "gold": "[Cause] the potential for international growth is unproven [Relation] cause [Effect] neither Free People nor Anthropologie has any real presence outside North America",
    "valid": false
  },
  {
    "input": "Thanks to external (COVID-19-related demand, smartphone ubiquity, wealth creation, underdevelopment payment industry infrastructure) and company-specific factors (product mix diversification, on- and off-platform payment technologies and shipping solutions), we believe MercadoLibre can capitalize on accelerating digital commerce trends in Latin America, despite lingering macro constraints volatility.",
    "output": "[Cause] external factors (COVID-19-related demand, smartphone ubiquity, wealth creation, underdevelopment payment industry infrastructure) and company-specific factors (product mix diversification, on- and off-platform payment technologies and shipping solutions) [Relation] enable [Effect] MercadoLibre can capitalize on accelerating digital commerce trends in Latin America",
    "gold": "[Cause] external (COVID-19-related demand, smartphone ubiquity, wealth creation, underdevelopment payment industry infrastructure) [Relation] cause [Effect] MercadoLibre can capitalize on accelerating digital commerce trends in Latin America",
    "valid": false
  },
  {
    "input": "Thanks to external (COVID-19-related demand, smartphone ubiquity, wealth creation, underdevelopment payment industry infrastructure) and company-specific factors (product mix diversification, on- and off-platform payment technologies and shipping solutions), we believe MercadoLibre can capitalize on accelerating digital commerce trends in Latin America, despite lingering macro constraints volatility.",
    "output": "[Cause] external factors such as COVID-19-related demand, smartphone ubiquity, wealth creation, underdeveloped payment industry infrastructure, and company-specific factors such as product mix diversification, on- and off-platform payment technologies, and shipping solutions [Relation] enable [Effect] MercadoLibre can capitalize on accelerating digital commerce trends in Latin America",
    "gold": "[Cause] accelerating digital commerce trends [Relation] cause [Effect] capitalize",
    "valid": false
  },
  {
    "input": "Thanks to external (COVID-19-related demand, smartphone ubiquity, wealth creation, underdevelopment payment industry infrastructure) and company-specific factors (product mix diversification, on- and off-platform payment technologies and shipping solutions), we believe MercadoLibre can capitalize on accelerating digital commerce trends in Latin America, despite lingering macro constraints volatility.",
    "output": "[Cause] external factors (COVID-19-related demand, smartphone ubiquity, wealth creation, underdevelopment payment industry infrastructure) and company-specific factors (product mix diversification, on- and off-platform payment technologies and shipping solutions) [Relation] enable [Effect] MercadoLibre can capitalize on accelerating digital commerce trends in Latin America",
    "gold": "[Cause] lingering macro [Relation] prevent [Effect] volatility",
    "valid": false
  },
  {
    "input": "While larger pharma customers may have the capital in-source design, they are unlikely to do so because it is often more cost-effective to outsource the work to West.",
    "output": "[Cause] it is often more cost-effective to outsource the work to West [Relation] prevent [Effect] larger pharma customers are unlikely to in-source design",
    "gold": "[Cause] it is often more cost-effective to outsource the work to West [Relation] prevent [Effect] larger pharma customers may have the capital in-source design",
    "valid": false
  },
  {
    "input": "If they switch to another local operator, they will need to discontinue the operation of the games temporarily while the servers are being replaced, which will affect players' experiences.",
    "output": "[Cause] they switch to another local operator [Relation] cause [Effect] need to discontinue the operation of the games temporarily while the servers are being replaced",
    "gold": "[Cause] discontinue the operation of the games temporarily while the servers are being replaced [Relation] cause [Effect] affect players' experiences",
    "valid": false
  },
  {
    "input": "Secular shifts in channel economics, in conjunction with the emphasis on pricing rationality in this space, make it increasingly difficult to discern end-consumer pricing dynamics and its impact on competitive positioning.",
    "output": "[Cause] Secular shifts in channel economics, emphasis on pricing rationality [Relation] cause [Effect] make it increasingly difficult to discern end-consumer pricing dynamics and its impact on competitive positioning",
    "gold": "[Cause] Secular shifts in channel economics, in conjunction with the emphasis on pricing rationality in this space [Relation] cause [Effect] increasingly difficult to discern end-consumer pricing dynamics and its impact on competitive positioning",
    "valid": false
  },
  {
    "input": "TSMC and Samsung are expected to deploy GAA in future processes (3-nm and below), and we believe Intel has an opportunity to regain manufacturing leadership if it can better deploy GAA.",
    "output": "[Cause] TSMC and Samsung are expected to deploy GAA in future processes [Relation] enable [Effect] Intel has an opportunity to regain manufacturing leadership",
    "gold": "[Cause] it can better deploy GAA [Relation] enable [Effect] Intel has an opportunity to regain manufacturing leadership",
    "valid": false
  },
  {
    "input": "We expect Macerich to continue improving its portfolio through redevelopment, opportunistic acquisitions, and asset sales, which should deliver strong earnings growth for Macerich over time.",
    "output": "[Cause] portfolio improvement through redevelopment, opportunistic acquisitions, and asset sales [Relation] enable [Effect] strong earnings growth for Macerich over time",
    "gold": "[Cause] Macerich to continue improving its portfolio through redevelopment, opportunistic acquisitions, and asset sales [Relation] enable [Effect] deliver strong earnings growth for Macerich over time",
    "valid": false
  },
  {
    "input": "Institutional private equity players such as Blackstone and Bay Grove Capital have shown an increased appetite to invest in the market because of favorable growth prospects.",
    "output": "[Cause] favorable growth prospects [Relation] cause [Effect] Institutional private equity players such as Blackstone and Bay Grove Capital have shown an increased appetite to invest in the market",
    "gold": "[Cause] favorable growth prospects [Relation] cause [Effect] Institutional private equity players such as Blackstone and Bay Grove Capital have shown an increased appetite to invest in the market",
    "valid": true
  },
  {
    "input": "With competition rising, we anticipate margins will be pressured long term, though improved pricing practices as well as supply chain, marketing, and distribution capabilities should help offset the strain, as should a growing private-label portfolio and procurement leverage.",
    "output": "[Cause] competition rising [Relation] cause [Effect] margins will be pressured long term",
    "gold": "[Cause] competition rising [Relation] cause [Effect] margins will be pressured long term",
    "valid": true
  },
  {
    "input": "With competition rising, we anticipate margins will be pressured long term, though improved pricing practices as well as supply chain, marketing, and distribution capabilities should help offset the strain, as should a growing private-label portfolio and procurement leverage.",
    "output": "[Cause] competition rising [Relation] cause [Effect] margins will be pressured long term",
    "gold": "[Cause] improved pricing practices as well as supply chain [Relation] enable [Effect] marketing, and distribution capabilities should help offset the strain",
    "valid": false
  },
  {
    "input": "With competition rising, we anticipate margins will be pressured long term, though improved pricing practices as well as supply chain, marketing, and distribution capabilities should help offset the strain, as should a growing private-label portfolio and procurement leverage.",
    "output": "[Cause] competition rising [Relation] cause [Effect] margins will be pressured long term",
    "gold": "[Cause] a growing private-label portfolio and procurement leverage [Relation] enable [Effect] marketing, and distribution capabilities should help offset the strain",
    "valid": false
  },
  {
    "input": "Caterpillar has since changed its approach in recent years to develop products that address customer-specific performance needs in this customer segment.",
    "output": "[Cause] Caterpillar has changed its approach in recent years [Relation] enable [Effect] develop products that address customer-specific performance needs in this customer segment",
    "gold": "[Cause] develop products that address customer-specific performance needs in this customer segment [Relation] cause [Effect] Caterpillar has since changed its approach in recent years",
    "valid": false
  },
  {
    "input": "The partnership agreements that Synchrony signs in these segments are often not exclusive, which means that a retailer could be offering multiple financing options alongside Synchrony's credit cards. As a result, Synchrony competes with all forms of consumer financing in these segments, and its partners are mostly interested in Synchrony's ability to issue additional loans with large promotional discounts to facilitate their sales.",
    "output": "[Cause] The partnership agreements that Synchrony signs in these segments are often not exclusive [Relation] cause [Effect] Synchrony competes with all forms of consumer financing in these segments",
    "gold": "[Cause] The partnership agreements that Synchrony signs in these segments are often not exclusive [Relation] cause [Effect] a retailer could be offering multiple financing options alongside Synchrony's credit cards",
    "valid": false
  },
  {
    "input": "However, even if a tenant wanted to move, we think the costs associated with switching would make it uneconomical from a monetary point of view and would introduce material risk.",
    "output": "[Cause] costs associated with switching [Relation] prevent [Effect] make it uneconomical from a monetary point of view and introduce material risk",
    "gold": "[Cause] the costs associated with switching [Relation] cause [Effect] make it uneconomical from a monetary point of view and would introduce material risk",
    "valid": false
  },
  {
    "input": "These efforts should help elevate sales and ultimately stem the pronounced declines of its local brands on an aggregate basis (erosion that management has attributed to underspending in both R&amp;D and marketing in the past). As such, management is targeting mid-single-digit long-term sales gains in its emerging-market regions (which account for more than one third of its sales), in excess of the low-single-digit growth it aims to chalk up in developed regions, both of which align with our forecast.",
    "output": "[Cause] underspending in both R&D and marketing in the past [Relation] cause [Effect] pronounced declines of its local brands on an aggregate basis",
    "gold": "[Cause] These efforts should help elevate sales and ultimately stem the pronounced declines of its local brands on an aggregate basis (erosion that management has attributed to underspending in both R&amp;D and marketing in the past) [Relation] cause [Effect] management is targeting mid-single-digit long-term sales gains in its emerging-market regions (which account for more than one third of its sales), in excess of the low-single-digit growth it aims to chalk up in developed regions, both of which align with our forecast",
    "valid": false
  },
  {
    "input": "To further its control over the NGL value chain, Enterprise has built out a number of petrochemical assets, including propylene pipelines, propane dehydrogenation (PDH), and isobutane dehydrogenation (iBDH) facilities, which allow the partnership to extract higher value olefins from feedstock.",
    "output": "[Cause] Enterprise has built out a number of petrochemical assets, including propylene pipelines, propane dehydrogenation (PDH), and isobutane dehydrogenation (iBDH) facilities [Relation] enable [Effect] allow the partnership to extract higher value olefins from feedstock",
    "gold": "[Cause] Enterprise has built out a number of petrochemical assets, including propylene pipelines, propane dehydrogenation (PDH), and isobutane dehydrogenation (iBDH) facilities [Relation] enable [Effect] allow the partnership to extract higher value olefins from feedstock",
    "valid": true
  },
  {
    "input": "Additionally, this consolidation of purchasing power helps Cigna extract discounts from drug manufacturers on one end of the transaction and pharmacies on the other end of the transaction, which should create significant value for its clients such as insurance plans and employers.",
    "output": "[Cause] consolidation of purchasing power [Relation] enable [Effect] helps Cigna extract discounts from drug manufacturers and pharmacies",
    "gold": "[Cause] this consolidation of purchasing power helps Cigna extract discounts from drug manufacturers on one end of the transaction and pharmacies on the other end of the transaction [Relation] cause [Effect] create significant value for its clients such as insurance plans and employers",
    "valid": false
  },
  {
    "input": "Additionally, this consolidation of purchasing power helps Cigna extract discounts from drug manufacturers on one end of the transaction and pharmacies on the other end of the transaction, which should create significant value for its clients such as insurance plans and employers.",
    "output": "[Cause] consolidation of purchasing power [Relation] enable [Effect] helps Cigna extract discounts from drug manufacturers and pharmacies",
    "gold": "[Cause] this consolidation of purchasing power [Relation] enable [Effect] Cigna extract discounts from drug manufacturers on one end of the transaction and pharmacies on the other end of the transaction",
    "valid": false
  },
  {
    "input": "Management initially wanted to remove as much friction from the sales process as possible, so it eschewed the direct salesforce model, offered its products at generally lower prices than competitors, and allowed users to be up and running within a matter of hours rather than months.",
    "output": "[Cause] management initially wanted to remove as much friction from the sales process as possible [Relation] enable, enable, enable [Effect] eschewed the direct salesforce model, offered its products at generally lower prices than competitors, allowed users to be up and running within a matter of hours rather than months",
    "gold": "[Cause] Management initially wanted to remove as much friction from the sales process as possible [Relation] cause [Effect] it eschewed the direct salesforce model, offered its products at generally lower prices than competitors, and allowed users to be up and running within a matter of hours rather than months",
    "valid": false
  },
  {
    "input": "By working with advertisers, Facebook is also adding a similar click-and-buy feature to photo and video ads, especially on Instagram, where viewers can click on a product they like within the video and get more information about it or purchase it.",
    "output": "[Cause] working with advertisers [Relation] enable [Effect] Facebook is adding a similar click-and-buy feature to photo and video ads, especially on Instagram",
    "gold": "[Cause] By working with advertisers [Relation] enable [Effect] Facebook is also adding a similar click-and-buy feature to photo and video ads, especially on Instagram",
    "valid": false
  },
  {
    "input": "Even so, they are subject to only modest operating leverage and therefore offer limited potential to augment the returns on invested capital earned by the steelmaking businesses as volume increases over our explicit forecast period.",
    "output": "[Cause] limited potential to augment the returns on invested capital earned by the steelmaking businesses as volume increases [Relation] limit [Effect] subject to only modest operating leverage",
    "gold": "[Cause] volume increases over our explicit forecast period [Relation] cause [Effect] they are subject to only modest operating leverage",
    "valid": false
  },
  {
    "input": "Even so, they are subject to only modest operating leverage and therefore offer limited potential to augment the returns on invested capital earned by the steelmaking businesses as volume increases over our explicit forecast period.",
    "output": "[Cause] subject to only modest operating leverage [Relation] cause [Effect] limited potential to augment the returns on invested capital earned by the steelmaking businesses as volume increases over our explicit forecast period",
    "gold": "[Cause] they are subject to only modest operating leverage [Relation] cause [Effect] offer limited potential to augment the returns on invested capital earned by the steelmaking businesses",
    "valid": false
  },
  {
    "input": "Standard qPCR also faces competitive risk from sequencing technologies, which could begin to infringe on PCR as the industry standard.",
    "output": "[Cause] sequencing technologies could begin to infringe on PCR as the industry standard [Relation] cause [Effect] Standard qPCR faces competitive risk",
    "gold": "[Cause] Standard qPCR also faces competitive risk [Relation] cause [Effect] infringe on PCR as the industry standard",
    "valid": false
  },
  {
    "input": "Our base scenario assumes that the bank's efficiency ratio eventually declines to 57% as management completes the latest cost-improvement initiatives.",
    "output": "[Cause] management completes the latest cost-improvement initiatives [Relation] cause [Effect] the bank's efficiency ratio eventually declines to 57%",
    "gold": "[Cause] management completes the latest cost-improvement initiatives [Relation] enable [Effect] the bank's efficiency ratio eventually declines to 57%",
    "valid": true
  },
  {
    "input": "We're also modeling 140 basis points of net operating margin (EBIT/net revenue) gains, to about 29.3% on leverage from net revenue growth, rising transaction automation, and incremental cost savings efforts despite an uptick in travel and entertainment outlays as the economy reopens.",
    "output": "[Cause] net revenue growth, rising transaction automation, and incremental cost savings efforts despite an uptick in travel and entertainment outlays as the economy reopens [Relation] enable [Effect] net operating margin (EBIT/net revenue) gains, to about 29.3%",
    "gold": "[Cause] the economy reopens [Relation] cause [Effect] an uptick in travel and entertainment outlays",
    "valid": false
  },
  {
    "input": "Additionally, we think MongoDB's database-as-a-service offering, Atlas, and data lake will bring significant new revenue streams to the company \u2013 as Atlas revenues eclipsed on-premises sales in early fiscal 2022.",
    "output": "[Cause] MongoDB's database-as-a-service offering, Atlas, and data lake [Relation] enable [Effect] bring significant new revenue streams to the company",
    "gold": "[Cause] Atlas revenues eclipsed on-premises sales in early fiscal 2022 [Relation] cause [Effect] MongoDB's database-as-a-service offering, Atlas, and data lake will bring significant new revenue streams to the company",
    "valid": false
  },
  {
    "input": "This trend of Amphenol's products underpinning advancements in technology that keep its prices elevated can be seen across its many industry verticals.",
    "output": "[Cause] Amphenol's products underpinning advancements in technology [Relation] enable [Effect] keep its prices elevated",
    "gold": "[Cause] This trend of Amphenol's products underpinning advancements in technology that keep its prices elevated [Relation] cause [Effect] be seen across its many industry verticals",
    "valid": false
  },
  {
    "input": "Similarly, a negative outcome in the pending litigation with IQVIA could have an adverse impact on Veeva's data offering, as IQVIA is the leading provider of pharmaceutical data pricing.",
    "output": "[Cause] a negative outcome in the pending litigation with IQVIA [Relation] cause [Effect] could have an adverse impact on Veeva's data offering",
    "gold": "[Cause] IQVIA is the leading provider of pharmaceutical data pricing [Relation] cause [Effect] a negative outcome in the pending litigation with IQVIA could have an adverse impact on Veeva's data offering",
    "valid": false
  },
  {
    "input": "A recovery more mild than we have anticipated would provide a near-term softness in Hardie's sales growth relative to expectations, and thus a challenge to valuation.",
    "output": "[Cause] A recovery more mild than we have anticipated [Relation] cause [Effect] near-term softness in Hardie's sales growth relative to expectations",
    "gold": "[Cause] a near-term softness in Hardie's sales growth relative to expectations [Relation] cause [Effect] a challenge to valuation",
    "valid": false
  },
  {
    "input": "While we think this service can be an attractive differentiator for US Foods, there is no evidence that it has resulted in a competitive advantage, as it has not resulted in organic market share gains, or even economic profits.",
    "output": "[Cause] there is no evidence that it has resulted in a competitive advantage [Relation] cause [Effect] it has not resulted in organic market share gains, or even economic profits",
    "gold": "[Cause] it has not resulted in organic market share gains, or even economic profits. [Relation] cause [Effect] there is no evidence that it has resulted in a competitive advantage,",
    "valid": false
  },
  {
    "input": "The central government's sustained crackdown on graft is also hurting gambling demand in Macao as VIPs maintain a low profile.",
    "output": "[Cause] The central government's sustained crackdown on graft [Relation] cause [Effect] hurting gambling demand in Macao",
    "gold": "[Cause] The central government's sustained crackdown on graft [Relation] enable [Effect] VIPs maintain a low profile",
    "valid": false
  },
  {
    "input": "That said, we believe that as it relates to the more immediate retail dynamics of store positioning and slotting fees, Monster's products benefit from similar positioning as proprietary Coke brands.",
    "output": "[Cause] Monster's products benefit from similar positioning as proprietary Coke brands [Relation] cause [Effect] Monster's products benefit from similar retail dynamics of store positioning and slotting fees",
    "gold": "[Cause] it relates to the more immediate retail dynamics of store positioning and slotting fees [Relation] cause [Effect] Monster's products benefit from similar positioning as proprietary Coke brands",
    "valid": false
  },
  {
    "input": "The bank has historically seen a cost of funding 10-20 basis points lower than its closest rival, and success of digital banking initiatives could drive new account growth higher and the proportion of time deposits in the mix lower.",
    "output": "[Cause] success of digital banking initiatives [Relation] enable [Effect] drive new account growth higher and the proportion of time deposits in the mix lower",
    "gold": "[Cause] success of digital banking initiatives [Relation] cause [Effect] drive new account growth higher and the proportion of time deposits in the mix lower",
    "valid": true
  },
  {
    "input": "Furthermore, in order to stay on the cutting edge of industry developments and scale up the production of emergent metallurgical solutions, the company will have to navigate sizable reinvestment cycles.",
    "output": "[Cause] stay on the cutting edge of industry developments and scale up the production of emergent metallurgical solutions [Relation] cause [Effect] the company will have to navigate sizable reinvestment cycles",
    "gold": "[Cause] the company will have to navigate sizable reinvestment cycles [Relation] enable [Effect] stay on the cutting edge of industry developments and scale up the production of emergent metallurgical solutions",
    "valid": false
  },
  {
    "input": "COVID-19 has disrupted the ERP implementation and business transformation efforts but we anticipate the lion's share of the domestic ERP implementation will be completed in 2021.",
    "output": "[Cause] COVID-19 has disrupted the ERP implementation and business transformation efforts [Relation] hinder [Effect] anticipate the lion's share of the domestic ERP implementation will be completed in 2021",
    "gold": "[Cause] COVID-19 [Relation] prevent [Effect] the ERP implementation and business transformation efforts",
    "valid": false
  },
  {
    "input": "We believe Ulta performed well in this marketplace because it has a strong selection of merchandise and services and women enjoy shopping in its stores.",
    "output": "[Cause] Ulta has a strong selection of merchandise and services [Relation] enable [Effect] Ulta performed well in this marketplace",
    "gold": "[Cause] it has a strong selection of merchandise and services and women enjoy shopping in its stores [Relation] cause [Effect] We believe Ulta performed well in this marketplace",
    "valid": false
  },
  {
    "input": "We have raised our long-term tax rate estimate to 29% from 24% in anticipation of a corporate tax increase in the United States.",
    "output": "[Cause] anticipation of a corporate tax increase in the United States [Relation] cause [Effect] raised long-term tax rate estimate to 29% from 24%",
    "gold": "[Cause] a corporate tax increase in the United States [Relation] cause [Effect] We have raised our long-term tax rate estimate to 29% from 24%",
    "valid": false
  },
  {
    "input": "A potential competitor would need to attract a critical mass of trading volume before it could offer its customers comparable execution to CME, a difficult prospect as its initial user base would need to be willing to accept higher trading costs during the startup process.",
    "output": "[Cause] its initial user base would need to be willing to accept higher trading costs during the startup process [Relation] enable [Effect] A potential competitor would need to attract a critical mass of trading volume",
    "gold": "[Cause] its initial user base would need to be willing to accept higher trading costs during the startup process [Relation] enable [Effect] a difficult prospect",
    "valid": false
  },
  {
    "input": "We expect it to eventually boost returns as it optimizes its stores and assortment and executes on new CEO Michael O'Sullivan's plans to favor more opportunistic merchandising (expected fiscal 2030 return of 17%).",
    "output": "[Cause] optimizes its stores and assortment and executes on new CEO Michael O'Sullivan's plans to favor more opportunistic merchandising [Relation] cause [Effect] boost returns",
    "gold": "[Cause] optimizes its stores and assortment and executes on new CEO Michael O'Sullivan's plans to favor more opportunistic merchandising [Relation] enable [Effect] boost returns",
    "valid": true
  },
  {
    "input": "Our assumptions include a challenging period in 2020-21 due to the COVID-19 crisis that is creating risks associated with policy pricing and the employment environment, which threatens commercial insurance rolls.",
    "output": "[Cause] the COVID-19 crisis [Relation] cause [Effect] creating risks associated with policy pricing and the employment environment, which threatens commercial insurance rolls",
    "gold": "[Cause] the COVID-19 crisis [Relation] cause [Effect] a challenging period",
    "valid": false
  },
  {
    "input": "Further, with around 40% of sales generated outside the U.S., Kellogg is exposed to foreign exchange fluctuations from time to time, which may eat into sales and profits.",
    "output": "[Cause] Kellogg is exposed to foreign exchange fluctuations from time to time [Relation] cause [Effect] may eat into sales and profits",
    "gold": "[Cause] around 40% of sales generated outside the U.S. [Relation] cause [Effect] Kellogg is exposed to foreign exchange fluctuations from time to time",
    "valid": false
  },
  {
    "input": "Still, we forecast direct-to-consumer revenue to rise to 44% of total revenue by the end of this decade. This should allow Under Armour to have better control over its brand, but we do not see evidence that it allows for premium pricing and see it as a defensive move.",
    "output": "[Cause] direct-to-consumer revenue rising to 44% of total revenue by the end of this decade [Relation] enable [Effect] Under Armour having better control over its brand",
    "gold": "[Cause] direct-to-consumer revenue to rise to 44% of total revenue by the end of this decade [Relation] enable [Effect] Under Armour to have better control over its brand, but we do not see evidence that it allows for premium pricing and see it as a defensive move",
    "valid": false
  },
  {
    "input": "We are decreasing our fair value estimate for Hannover Re to EUR 150.0 from EUR 156.00 per share based on slightly lower revenue numbers.",
    "output": "[Cause] slightly lower revenue numbers [Relation] cause [Effect] decreasing fair value estimate for Hannover Re to EUR 150.0 from EUR 156.0 per share",
    "gold": "[Cause] slightly lower revenue numbers [Relation] cause [Effect] We are decreasing our fair value estimate for Hannover Re to EUR 150.0 from EUR 156.00 per share",
    "valid": false
  },
  {
    "input": "Even when throughput has lagged, Energy Transfer has such strong pricing power it raises reservation fees, keeping margins steady and growing through commodity cycles.",
    "output": "[Cause] Energy Transfer has such strong pricing power [Relation] enable [Effect] raises reservation fees, keeping margins steady and growing through commodity cycles",
    "gold": "[Cause] keeping margins steady and growing through commodity cycle [Relation] enable [Effect] Energy Transfer has such strong pricing power it raises reservation fees",
    "valid": false
  },
  {
    "input": "While we believe Samsung is another major customer (above the 10% threshold), we think Broadcom's remaining segments are relatively better diversified and should mitigate some of the sharp swings to which other smartphone component suppliers are susceptible.",
    "output": "[Cause] Samsung is another major customer (above the 10% threshold) [Relation] mitigate [Effect] Broadcom's remaining segments are relatively better diversified",
    "gold": "[Cause] Broadcom's remaining segments are relatively better diversified [Relation] enable [Effect] mitigate some of the sharp swings to which other smartphone component suppliers are susceptible",
    "valid": false
  },
  {
    "input": "Still, in May 2020, President Akio Toyoda said 3 million units and Japan employment will be maintained no matter how bad the economic situation is because people make things society needs.",
    "output": "[Cause] President Akio Toyoda's statement that 3 million units and Japan employment will be maintained [Relation] cause [Effect] people make things society needs",
    "gold": "[Cause] people make things society needs [Relation] cause [Effect] 3 million units and Japan employment will be maintained",
    "valid": false
  },
  {
    "input": "We are lifting our valuation of Advance to $207 per share from $198, after it announced strong first-quarter results (25% comparable growth, slightly more than management's 22%-24% estimate announced at the firm's investor day on April 20).",
    "output": "[Cause] announced strong first-quarter results (25% comparable growth, slightly more than management's 22%-24% estimate) [Relation] cause [Effect] lifting our valuation of Advance to $207 per share from $198",
    "gold": "[Cause] it announced strong first-quarter results (25% comparable growth, slightly more than management's 22%-24% estimate announced at the firm's investor day on April 20) [Relation] cause [Effect] We are lifting our valuation of Advance to $207 per share from $198",
    "valid": false
  },
  {
    "input": "Given that GitHub is a repository for source code and an online collaboration community for software developers, it enjoys some level of network effect as the \"\"\"\"Facebook for programmers,\"\"\"\" and makes Visual Studio a stickier product.",
    "output": "[Cause] GitHub being a repository for source code and an online collaboration community for software developers [Relation] enable [Effect] enjoys some level of network effect as the \"Facebook for programmers\" and makes Visual Studio a stickier product",
    "gold": "[Cause] GitHub is a repository for source code and an online collaboration community for software developers [Relation] cause [Effect] it enjoys some level of network effect as the \"\"\"\"Facebook for programmers,\"\"\"\" and makes Visual Studio a stickier product",
    "valid": false
  },
  {
    "input": "To widen its product spectrum and potentially cope with the trend of social e-commerce, Weibo launched an interest-based social product, Oasis, in the fourth quarter of 2019.",
    "output": "[Cause] To widen its product spectrum and potentially cope with the trend of social e-commerce [Relation] enable [Effect] Weibo launched an interest-based social product, Oasis, in the fourth quarter of 2019",
    "gold": "[Cause] Weibo launched an interest-based social product [Relation] enable [Effect] widen its product spectrum and potentially cope with the trend of social e-commerce",
    "valid": false
  },
  {
    "input": "However, we aren't blind to the fact that strict lockdowns enacted in these markets early in the pandemic could once again plague its operations if a subsequent wave of COVID-19 persists.",
    "output": "[Cause] strict lockdowns enacted in these markets early in the pandemic [Relation] cause [Effect] could once again plague its operations",
    "gold": "[Cause] a subsequent wave of COVID-19 persists [Relation] cause [Effect] strict lockdowns enacted in these markets early in the pandemic could once again plague its operations",
    "valid": false
  },
  {
    "input": "Increasing environmental and government regulations, as well as political opposition, have made new pipeline projects increasingly difficult to sanction in recent years.",
    "output": "[Cause] Increasing environmental and government regulations, as well as political opposition [Relation] cause [Effect] new pipeline projects increasingly difficult to sanction in recent years",
    "gold": "[Cause] Increasing environmental and government regulations, as well as political opposition [Relation] cause [Effect] new pipeline projects increasingly difficult to sanction in recent years",
    "valid": true
  },
  {
    "input": "For example, Bristol's Eliquis (cardiovascular), Revlimid (cancer), and Opdivo (cancer) generate well over 50% of the firm's total sales and the drugs have significant exposure to the Medicare channel, but the upcoming patent loss for Revlimid should lessen this dependence.",
    "output": "[Cause] upcoming patent loss for Revlimid [Relation] mitigate [Effect] lessen the dependence on Medicare channel for Bristol's Eliquis, Revlimid, and Opdivo",
    "gold": "[Cause] the upcoming patent loss for Revlimid [Relation] prevent [Effect] this dependence",
    "valid": false
  },
  {
    "input": "Additionally, the company's automotive glass interlayers, which are among the best in the industry, should benefit from greater demand as increased electric vehicle sales will require energy-efficient windows to extend battery range.",
    "output": "[Cause] increased electric vehicle sales [Relation] cause [Effect] greater demand for the company's automotive glass interlayers",
    "gold": "[Cause] increased electric vehicle sales will require energy-efficient windows to extend battery range [Relation] cause [Effect] the company's automotive glass interlayers, which are among the best in the industry, should benefit from greater demand",
    "valid": false
  },
  {
    "input": "Additionally, the company's automotive glass interlayers, which are among the best in the industry, should benefit from greater demand as increased electric vehicle sales will require energy-efficient windows to extend battery range.",
    "output": "[Cause] increased electric vehicle sales [Relation] enable [Effect] greater demand for the company's automotive glass interlayers",
    "gold": "[Cause] energy-efficient windows [Relation] enable [Effect] extend battery range",
    "valid": false
  },
  {
    "input": "Mode was never fully integrated into Hub's core operations, in part because of its different salesforce model (agent-based), and we believe management was looking to free up cash for acquisitions.",
    "output": "[Cause] Mode's different salesforce model (agent-based) [Relation] cause [Effect] Mode was never fully integrated into Hub's core operations",
    "gold": "[Cause] its different salesforce model (agent-based) [Relation] cause [Effect] Mode was never fully integrated into Hub's core operations",
    "valid": false
  },
  {
    "input": "Credit card portfolios from shuttered retailers also typically see elevated charge-off rates as the accounts run off, making bankruptcy a credit risk for ADS, as well.",
    "output": "[Cause] Credit card portfolios from shuttered retailers [Relation] cause [Effect] typically see elevated charge-off rates as the accounts run off",
    "gold": "[Cause] Credit card portfolios from shuttered retailers also typically see elevated charge-off rates as the accounts run off [Relation] cause [Effect] bankruptcy a credit risk for ADS",
    "valid": false
  },
  {
    "input": "We expect the firm to achieve cost efficiencies through digitalization, lower marketing spending, and regulatory costs in Thailand (concession to license regime change), will lead to a steady EBITDA margin improvement and propel the margin above 43% by 2024.",
    "output": "[Cause] cost efficiencies through digitalization, lower marketing spending, and regulatory costs in Thailand (concession to license regime change) [Relation] enable [Effect] steady EBITDA margin improvement and propel the margin above 43% by 2024",
    "gold": "[Cause] the firm to achieve cost efficiencies through digitalization, lower marketing spending, and regulatory costs in Thailand (concession to license regime change) [Relation] cause [Effect] a steady EBITDA margin improvement",
    "valid": false
  },
  {
    "input": "Third, Splunk is not yet profitable on a GAAP basis, as the firm maintains high level of investments in product development and sales and marketing.",
    "output": "[Cause] the firm maintains high levels of investments in product development and sales and marketing [Relation] cause [Effect] Splunk is not yet profitable on a GAAP basis",
    "gold": "[Cause] the firm maintains high level of investments in product development and sales and marketing [Relation] cause [Effect] Splunk is not yet profitable on a GAAP basis",
    "valid": false
  },
  {
    "input": "In addition, we believe S&amp;P benefits from the network effect as it maintains a network of issuers and investors.",
    "output": "[Cause] S&P maintains a network of issuers and investors [Relation] enable [Effect] S&P benefits from the network effect",
    "gold": "[Cause] it maintains a network of issuers and investors [Relation] cause [Effect] S&amp;P benefits from the network effect",
    "valid": false
  },
  {
    "input": "For many years, Rogers has been one of three Canadian wireless service providers whose collective market dominance has made it very difficult for others to legitimately compete.",
    "output": "[Cause] collective market dominance of three Canadian wireless service providers (including Rogers) [Relation] cause [Effect] very difficult for others to legitimately compete",
    "gold": "[Cause] collective market dominance has made it very difficult for others to legitimately compete [Relation] cause [Effect] Rogers has been one of three Canadian wireless service providers",
    "valid": false
  },
  {
    "input": "Within personal lines, we expect Travelers to maintain good underwriting results due to the pandemic and the resulting reduction in miles driven, but for the combined ratio to deteriorate over time as the line mean reverts to more normalized results.",
    "output": "[Cause] reduction in miles driven due to the pandemic [Relation] enable [Effect] expect Travelers to maintain good underwriting results",
    "gold": "[Cause] the pandemic and the resulting reduction in miles driven [Relation] cause [Effect] Travelers to maintain good underwriting results",
    "valid": false
  },
  {
    "input": "Within personal lines, we expect Travelers to maintain good underwriting results due to the pandemic and the resulting reduction in miles driven, but for the combined ratio to deteriorate over time as the line mean reverts to more normalized results.",
    "output": "[Cause] the pandemic and the resulting reduction in miles driven [Relation] enable [Effect] Travelers to maintain good underwriting results",
    "gold": "[Cause] the line mean reverts to more normalized results [Relation] cause [Effect] the combined ratio to deteriorate over time",
    "valid": false
  },
  {
    "input": "Like other component companies, Amphenol's near-term growth is a function of increased content in the global automotive market, in our view.",
    "output": "[Cause] increased content in the global automotive market [Relation] cause [Effect] Amphenol's near-term growth",
    "gold": "[Cause] increased content in the global automotive market [Relation] cause [Effect] Amphenol's near-term growth",
    "valid": true
  },
  {
    "input": "For 2021, we have marginally lifted our sales estimate (to $18.4 billion from $18.3 billion) but have significantly raised our operating margin forecast to 4.8% from 3.9%, leading to an adjusted EPS forecast that improves to $2.85 from our prior $2.29 estimate.",
    "output": "[Cause] marginally lifted our sales estimate [Relation] cause [Effect] the adjusted EPS forecast improves to $2.85 from our prior $2.29 estimate",
    "gold": "[Cause] marginally lifted our sales estimate| significantly raised our operating margin forecast to 4.8% from 3.9%, [Relation] cause [Effect] adjusted EPS forecast that improves to $2.85 from our prior $2.29 estimate.",
    "valid": false
  },
  {
    "input": "As Franklin has historically generated a majority of its sales in any given period from a handful of funds, it faces the risk that underperformance has a heavier impact on flows.",
    "output": "[Cause] Franklin has historically generated a majority of its sales in any given period from a handful of funds [Relation] cause [Effect] Franklin faces the risk that underperformance has a heavier impact on flows",
    "gold": "[Cause] Franklin has historically generated a majority of its sales in any given period from a handful of funds [Relation] cause [Effect] it faces the risk that underperformance has a heavier impact on flows",
    "valid": false
  },
  {
    "input": "While we recognize that these multiples are elevated from normal levels, we think multiple expansion is justified because we expect a substantial ramp up in production post-pandemic to serve the firm's backlog of roughly 7,200 aircraft.",
    "output": "[Cause] expect a substantial ramp up in production post-pandemic [Relation] cause [Effect] justify multiple expansion",
    "gold": "[Cause] we expect a substantial ramp up in production post-pandemic to serve the firm's backlog of roughly 7,200 aircraft [Relation] enable [Effect] we think multiple expansion is justified",
    "valid": false
  },
  {
    "input": "With 2021 set to be plagued by inconsistent pricing strategies as Norwegian and the other cruise operators try to entice cruisers to sail again, we don't see Norwegian reaching near 2019 pricing again until 2023.",
    "output": "[Cause] inconsistent pricing strategies as Norwegian and the other cruise operators try to entice cruisers to sail again [Relation] cause [Effect] Norwegian not reaching near 2019 pricing again until 2023",
    "gold": "[Cause] inconsistent pricing strategies [Relation] prevent [Effect] Norwegian reaching near 2019 pricing again until 2023",
    "valid": false
  },
  {
    "input": "With 2021 set to be plagued by inconsistent pricing strategies as Norwegian and the other cruise operators try to entice cruisers to sail again, we don't see Norwegian reaching near 2019 pricing again until 2023.",
    "output": "[Cause] inconsistent pricing strategies as Norwegian and the other cruise operators try to entice cruisers to sail again [Relation] cause [Effect] don't see Norwegian reaching near 2019 pricing again until 2023",
    "gold": "[Cause] Norwegian and the other cruise operators try to entice cruisers to sail again [Relation] cause [Effect] inconsistent pricing strategies",
    "valid": false
  },
  {
    "input": "Mode was never fully integrated into Hub's core operations because of its different salesforce model (agent-based), and we believe management was looking to free up cash for tuck-in acquisitions like CaseStack in late 2018.",
    "output": "[Cause] Mode's different salesforce model (agent-based) [Relation] prevent [Effect] Mode was never fully integrated into Hub's core operations",
    "gold": "[Cause] its different salesforce model (agent-based) [Relation] cause [Effect] Mode was never fully integrated into Hub's core operations",
    "valid": false
  },
  {
    "input": "We believe the laboratory services segment will grow at a double-digit rate for the next several years, with volume increases driven by expansion in the clinical trial business.",
    "output": "[Cause] expansion in the clinical trial business [Relation] drive [Effect] laboratory services segment will grow at a double-digit rate for the next several years",
    "gold": "[Cause] expansion in the clinical trial business [Relation] enable [Effect] volume increases",
    "valid": false
  },
  {
    "input": "We believe the laboratory services segment will grow at a double-digit rate for the next several years, with volume increases driven by expansion in the clinical trial business.",
    "output": "[Cause] expansion in the clinical trial business [Relation] enable [Effect] laboratory services segment will grow at a double-digit rate for the next several years, with volume increases driven by expansion in the clinical trial business",
    "gold": "[Cause] volume increases driven by expansion in the clinical trial business [Relation] enable [Effect] the laboratory services segment will grow at a double-digit rate for the next several years",
    "valid": false
  },
  {
    "input": "A material portion of Amex's billings (roughly 30%) are related to the travel and entertainment industry, further exposing the company to some of the most affected industries. These trends will eventually reverse as the economy recovers, but Amex will indeed be dependent on that recovery to return to pre-COVID-19 profitability levels.",
    "output": "[Cause] a material portion of Amex's billings (roughly 30%) are related to the travel and entertainment industry, exposing the company to some of the most affected industries [Relation] cause [Effect] Amex will be dependent on the recovery of the economy to return to pre-COVID-19 profitability levels",
    "gold": "[Cause] A material portion of Amex's billings (roughly 30%) are related to the travel and entertainment industry, further exposing the company to some of the most affected industries [Relation] cause [Effect] reverse as the economy recovers, but Amex will indeed be dependent on that recovery to return to pre-COVID-19 profitability levels",
    "valid": false
  },
  {
    "input": "Also, Google would likely have trouble convincing online travel companies to use its platform to source air content versus Sabre, given the search giant poses a larger competitive threat than Sabre to these operators.",
    "output": "[Cause] the search giant poses a larger competitive threat than Sabre to these operators [Relation] cause [Effect] Google would likely have trouble convincing online travel companies to use its platform to source air content versus Sabre",
    "gold": "[Cause] the search giant poses a larger competitive threat than Sabre to these operators [Relation] cause [Effect] Google would likely have trouble convincing online travel companies to use its platform to source air content versus Sabre",
    "valid": true
  },
  {
    "input": "Plus, while Spotify may be able to reach distribution agreements directly with artists, doing so may put the firm at a further disadvantage when negotiating with record labels.",
    "output": "[Cause] reaching distribution agreements directly with artists [Relation] cause [Effect] put the firm at a further disadvantage when negotiating with record labels",
    "gold": "[Cause] Spotify may be able to reach distribution agreements directly with artists [Relation] enable [Effect] put the firm at a further disadvantage when negotiating with record labels",
    "valid": false
  },
  {
    "input": "The firm lost market share in its important firewall business, and we believe it is at a critical time to expand its customer presence as enterprises use more cloud-based applications.",
    "output": "[Cause] The firm lost market share in its important firewall business [Relation] cause [Effect] at a critical time to expand its customer presence as enterprises use more cloud-based applications",
    "gold": "[Cause] enterprises use more cloud-based applications [Relation] cause [Effect] it is at a critical time to expand its customer presence",
    "valid": false
  },
  {
    "input": "We forecast a high probability of increased emissions regulations but think costs are likely to be passed on to customers, limiting the economic impact.",
    "output": "[Cause] increased emissions regulations [Relation] cause [Effect] costs are likely to be passed on to customers",
    "gold": "[Cause] costs are likely to be passed on to customers [Relation] cause [Effect] limiting the economic impact",
    "valid": false
  },
  {
    "input": "Albemarle's Chilean expansions and its Talison joint venture will ramp up production to help meet strong market demand growth.",
    "output": "[Cause] Albemarle's Chilean expansions and its Talison joint venture [Relation] enable [Effect] ramp up production",
    "gold": "[Cause] Albemarle's Chilean expansions and its Talison joint venture will ramp up production [Relation] enable [Effect] meet strong market demand growth",
    "valid": false
  },
  {
    "input": "Pub ownership and operation is a low returns business and requires large amounts of capital and perpetual capital expenditure, but it gives Heineken an insight into consumer tastes and preferences in the on-trade, and allows them to trial new products with a direct feedback loop from the consumer.",
    "output": "[Cause] Pub ownership and operation is a low returns business and requires large amounts of capital and perpetual capital expenditure [Relation] enable [Effect] gives Heineken an insight into consumer tastes and preferences in the on-trade, allows them to trial new products with a direct feedback loop from the consumer",
    "gold": "[Cause] Pub ownership and operation is a low returns business and requires large amounts of capital and perpetual capital expenditure [Relation] enable [Effect] it gives Heineken an insight into consumer tastes and preferences in the on-trade, and allows them to trial new products with a direct feedback loop from the consumer",
    "valid": false
  },
  {
    "input": "The bank is also more heavily concentrated in states that have historically had a more difficult time during and after recessions, including Ohio and Michigan. These loan categories, combined with the geographic exposure, could lead to elevated losses, particularly if states like Ohio and Michigan struggle economically.",
    "output": "[Cause] the bank is more heavily concentrated in states that have historically had a more difficult time during and after recessions, including Ohio and Michigan [Relation] cause [Effect] could lead to elevated losses, particularly if states like Ohio and Michigan struggle economically",
    "gold": "[Cause] The bank is also more heavily concentrated in states that have historically had a more difficult time during and after recessions, including Ohio and Michigan [Relation] cause [Effect] These loan categories, combined with the geographic exposure, could lead to elevated losses, particularly if states like Ohio and Michigan struggle economically",
    "valid": false
  },
  {
    "input": "Assuming continued macroeconomic recovery in Europe and the U.S., we expect 5% top-line growth in fiscal 2022 on persistent B2C demand growth, partly offset by tough comparisons.",
    "output": "[Cause] continued macroeconomic recovery in Europe and the U.S. [Relation] enable [Effect] 5% top-line growth in fiscal 2022",
    "gold": "[Cause] tough comparisons [Relation] prevent [Effect] 5% top-line growth in fiscal 2022 on persistent B2C demand growth",
    "valid": false
  },
  {
    "input": "Assuming continued macroeconomic recovery in Europe and the U.S., we expect 5% top-line growth in fiscal 2022 on persistent B2C demand growth, partly offset by tough comparisons.",
    "output": "[Cause] continued macroeconomic recovery in Europe and the U.S. [Relation] enable [Effect] 5% top-line growth in fiscal 2022",
    "gold": "[Cause] continued macroeconomic recovery in Europe and the U.S. [Relation] cause [Effect] top-line growth in fiscal 2022 on persistent B2C demand growth",
    "valid": false
  },
  {
    "input": "Cost leverage should drive the quarter's operating margin higher by nearly 100 basis points (to 10%) versus the same period in fiscal 2019.",
    "output": "[Cause] Cost leverage [Relation] cause [Effect] drive the quarter's operating margin higher by nearly 100 basis points (to 10%)",
    "gold": "[Cause] Cost leverage [Relation] enable [Effect] the quarter's operating margin higher by nearly 100 basis points (to 10%) versus the same period in fiscal 2019",
    "valid": false
  },
  {
    "input": "Intel's manufacturing struggles have also led to major customers such as Apple, Amazon, and Microsoft developing their own ARM-based CPUs for PCs and servers, which is likely to curb overall growth for Intel's core CPU business as these chips are likely made at TSMC.",
    "output": "[Cause] Intel's manufacturing struggles [Relation] cause [Effect] major customers such as Apple, Amazon, and Microsoft developing their own ARM-based CPUs for PCs and servers",
    "gold": "[Cause] these chips are likely made at TSMC [Relation] prevent [Effect] overall growth for Intel's core CPU business",
    "valid": false
  },
  {
    "input": "We think that Pandora will likely see growth in paid subscribers and a slower decline in ad-supported listening hours due to COVID-19 but that lower ad rates will more than offset these benefits.",
    "output": "[Cause] COVID-19 [Relation] offset [Effect] growth in paid subscribers, slower decline in ad-supported listening hours",
    "gold": "[Cause] COVID-19 [Relation] cause [Effect] Pandora will likely see growth in paid subscribers and a slower decline in ad-supported listening hours",
    "valid": false
  },
  {
    "input": "We assume average compound annual revenue growth of roughly 6% through 2025, fueled by nearly 7% growth in the consumer solutions segment, where we think Pentair can continue to capture incremental market share gains thanks to its continuous innovation.",
    "output": "[Cause] continuous innovation [Relation] enable [Effect] Pentair can continue to capture incremental market share gains",
    "gold": "[Cause] nearly 7% growth in the consumer solutions segment [Relation] cause [Effect] average compound annual revenue growth of roughly 6% through 2025",
    "valid": false
  },
  {
    "input": "Parker should also benefit from large customers' preference of buying from a list of preferred component suppliers, underpinning what we see as strong switching costs, as well as a robust amount of intellectual property protecting this revenue stream.",
    "output": "[Cause] large customers' preference of buying from a list of preferred component suppliers, robust amount of intellectual property protecting this revenue stream [Relation] enable [Effect] Parker should benefit from strong switching costs",
    "gold": "[Cause] large customers' preference of buying from a list of preferred component suppliers [Relation] cause [Effect] Parker should also benefit",
    "valid": false
  },
  {
    "input": "Parker should also benefit from large customers' preference of buying from a list of preferred component suppliers, underpinning what we see as strong switching costs, as well as a robust amount of intellectual property protecting this revenue stream.",
    "output": "[Cause] large customers' preference of buying from a list of preferred component suppliers [Relation] enable [Effect] Parker should benefit from strong switching costs",
    "gold": "[Cause] large customers' preference of buying from a list of preferred component suppliers [Relation] enable [Effect] underpinning what we see as strong switching costs, as well as a robust amount of intellectual property protecting this revenue stream",
    "valid": false
  },
  {
    "input": "However, the reduction in our estimate was not due to Ohio as our regulated distribution segment EPS estimate of $2.19 was less than the $2.20 guidance range midpoint for the segment.",
    "output": "[Cause] the reduction in our estimate was not due to Ohio as our regulated distribution segment EPS estimate of $2.19 was less than the $2.20 guidance range midpoint for the segment [Relation] None mentioned [Effect] None mentioned",
    "gold": "[Cause] as our regulated distribution segment EPS estimate of $2.19 was less than the $2.20 guidance range midpoint for the segment [Relation] cause [Effect] However, the reduction in our estimate was not due to Ohio",
    "valid": false
  },
  {
    "input": "Regeneron has little exposure to expensive therapies covered by Medicare Part D, and we therefore do not expect Part D redesign to have an impact on Regeneron's intrinsic value (we assume a 50% probability that such legislation passes).",
    "output": "[Cause] Regeneron has little exposure to expensive therapies covered by Medicare Part D [Relation] prevent [Effect] we do not expect Part D redesign to have an impact on Regeneron's intrinsic value",
    "gold": "[Cause] Regeneron has little exposure to expensive therapies covered by Medicare Part D [Relation] cause [Effect] and we therefore do not expect Part D redesign to have an impact on Regeneron's intrinsic value (we assume a 50% probability that such legislation passes)",
    "valid": false
  },
  {
    "input": "We believe analog engineering talent is difficult to come by, as greater emphasis is placed on digital chip improvements, and it often takes years to train up-and-coming analog engineers in the intricacies of chip designs.",
    "output": "[Cause] greater emphasis placed on digital chip improvements [Relation] cause [Effect] analog engineering talent is difficult to come by",
    "gold": "[Cause] greater emphasis is placed on digital chip improvements, and it often takes years to train up-and-coming analog engineers in the intricacies of chip designs [Relation] cause [Effect] analog engineering talent is difficult to come by",
    "valid": false
  },
  {
    "input": "Additionally, its market share has declined in many key product lines, especially starting in the mid-2000s with the growth of the U.S.",
    "output": "[Cause] growth of the U.S. market [Relation] cause [Effect] its market share has declined in many key product lines",
    "gold": "[Cause] with the growth of the U.S [Relation] cause [Effect] its market share has declined in many key product lines",
    "valid": false
  },
  {
    "input": "Both of the firm's 2017 acquisitions (Marvell's multimedia solutions business and Conexant Systems) were margin-accretive, bolstering gross margins, but also opened the firm up to further high margin opportunities and markets in the future as the Internet of Things trend develops.",
    "output": "[Cause] Both of the firm's 2017 acquisitions (Marvell's multimedia solutions business and Conexant Systems) [Relation] cause [Effect] were margin-accretive, bolstering gross margins",
    "gold": "[Cause] the Internet of Things trend develops [Relation] cause [Effect] opened the firm up to further high margin opportunities and markets",
    "valid": false
  },
  {
    "input": "Each piece of data is tracked and breadcrumbs are recorded, a centralized access control works with existing identity security providers or acts as the primary security solution for authorization that can restrict certain data to various departments, and an audit trail is recorded.",
    "output": "[Cause] Each piece of data is tracked and breadcrumbs are recorded, a centralized access control works with existing identity security providers or acts as the primary security solution for authorization that can restrict certain data to various departments [Relation] enable [Effect] an audit trail is recorded",
    "gold": "[Cause] the primary security solution for authorization that can restrict certain data to various departments, and an audit trail is recorded [Relation] enable [Effect] Each piece of data is tracked and breadcrumbs are recorded, a centralized access control works with existing identity security providers or acts",
    "valid": false
  },
  {
    "input": "Western and Seagate are constantly improving areal storage density and implementing new technologies like heat-assisted magnetic recording, or HAMR, to drive cost per HDD gigabyte down further at large capacity points.",
    "output": "[Cause] constantly improving areal storage density and implementing new technologies like heat-assisted magnetic recording (HAMR) [Relation] enable [Effect] drive cost per HDD gigabyte down further at large capacity points",
    "gold": "[Cause] Western and Seagate are constantly improving areal storage density and implementing new technologies like heat-assisted magnetic recording, or HAMR [Relation] enable [Effect] drive cost per HDD gigabyte down further at large capacity points",
    "valid": false
  },
  {
    "input": "The firm is also introducing much lower priced mobile only plans in markets like India and Malaysia that will drive subscriber growth at the expense of average revenue.",
    "output": "[Cause] introducing much lower priced mobile only plans in markets like India and Malaysia [Relation] enable [Effect] drive subscriber growth",
    "gold": "[Cause] The firm is also introducing much lower priced mobile only plans in markets like India and Malaysia [Relation] cause [Effect] the expense of average revenue",
    "valid": false
  },
  {
    "input": "The firm is also introducing much lower priced mobile only plans in markets like India and Malaysia that will drive subscriber growth at the expense of average revenue.",
    "output": "[Cause] introducing much lower priced mobile only plans in markets like India and Malaysia [Relation] cause [Effect] drive subscriber growth",
    "gold": "[Cause] the expense of average revenue [Relation] enable [Effect] subscriber growth",
    "valid": false
  },
  {
    "input": "Further, given the relatively asset-light nature of the business, returns on invested capital are very high, averaging almost 200% over the past five years.",
    "output": "[Cause] the relatively asset-light nature of the business [Relation] cause [Effect] returns on invested capital are very high, averaging almost 200% over the past five years",
    "gold": "[Cause] the relatively asset-light nature of the business [Relation] cause [Effect] returns on invested capital are very high, averaging almost 200% over the past five years",
    "valid": true
  },
  {
    "input": "We expect solid gross margin expansion (to 40% from 36% in 2019) for the full year despite first-quarter supply and demand disruption (which led to more than 1,200 basis points of deleverage for the period), as volume leverage more than offset this pressure over the remainder of the year.",
    "output": "[Cause] first-quarter supply and demand disruption [Relation] cause [Effect] more than 1,200 basis points of deleverage for the period",
    "gold": "[Cause] volume leverage more than offset this pressure over the remainder of the year [Relation] cause [Effect] solid gross margin expansion (to 40% from 36% in 2019) for the full year despite first-quarter supply and demand disruption (which led to more than 1,200 basis points of deleverage for the period)",
    "valid": false
  },
  {
    "input": "Additionally, thanks to the MRO business (Interline Brands and HD Supply), pro revenue could be less cyclical, as the maintenance side of the business can prove more consistent.",
    "output": "[Cause] MRO business (Interline Brands and HD Supply) [Relation] enable [Effect] pro revenue could be less cyclical",
    "gold": "[Cause] the maintenance side of the business can prove more consistent [Relation] cause [Effect] pro revenue could be less cyclical",
    "valid": false
  },
  {
    "input": "Gross margins for Amphenol are slightly below competitors TE Connectivity (32% versus 33%) and Sensata (34%). This is partially due to the different end markets that each company is exposed to and partially due to the particular products supplied to those end markets.",
    "output": "[Cause] the different end markets that each company is exposed to and the particular products supplied to those end markets [Relation] cause [Effect] Gross margins for Amphenol are slightly below competitors TE Connectivity and Sensata",
    "gold": "[Cause] the different end markets that each company is exposed to and partially due to the particular products supplied to those end markets [Relation] cause [Effect] the different end markets that each company is exposed to and partially due to the particular products supplied to those end markets",
    "valid": false
  },
  {
    "input": "Additionally, we expect a small decrease in adjusted income from operations as a percentage of revenue (17.2%) as we expect incremental coronavirus-related expenses to continue to offset operating expense leverage.",
    "output": "[Cause] we expect incremental coronavirus-related expenses to continue to offset operating expense leverage [Relation] cause [Effect] a small decrease in adjusted income from operations as a percentage of revenue (17.2%)",
    "gold": "[Cause] incremental coronavirus-related expenses [Relation] enable [Effect] offset operating expense leverage",
    "valid": false
  },
  {
    "input": "American Water was unable to treat and remove all of the chemical mixture in its water treatment process and as a result contaminated the drinking water system.",
    "output": "[Cause] American Water was unable to treat and remove all of the chemical mixture in its water treatment process [Relation] cause [Effect] contaminated the drinking water system",
    "gold": "[Cause] American Water was unable to treat and remove all of the chemical mixture in its water treatment process [Relation] cause [Effect] contaminated the drinking water system",
    "valid": true
  },
  {
    "input": "We expect solid wireless results over the next several years thanks to the industry's stable structure, but growth will likely remain only modest over the long term.",
    "output": "[Cause] the industry's stable structure [Relation] enable [Effect] solid wireless results over the next several years",
    "gold": "[Cause] the industry's stable structure [Relation] enable [Effect] solid wireless results over the next several years",
    "valid": true
  },
  {
    "input": "We think nearline drives will sustain healthy demand as rising bandwidth demand leads to data center buildouts\u2014more than offsetting the ongoing decline in the firm's legacy HDD sales.",
    "output": "[Cause] rising bandwidth demand leads to data center buildouts [Relation] cause and offsetting [Effect] nearline drives will sustain healthy demand",
    "gold": "[Cause] nearline drives will sustain healthy demand as rising bandwidth demand [Relation] cause [Effect] data center buildouts\u2014more than offsetting the ongoing decline in the firm's legacy HDD sales",
    "valid": false
  },
  {
    "input": "MongoDB is in its infancy but has a massive market opportunity and a large runway for growth ahead of itself. This substantial growth is driven by continued shifts of workloads to a cloud environment, prompting the database market to grow robustly, especially NoSQL databases like document-based databases, as companies realize how much easier it is to scale data storage in the clouds.",
    "output": "[Cause] continued shifts of workloads to a cloud environment, prompting the database market to grow robustly [Relation] cause [Effect] substantial growth for MongoDB",
    "gold": "[Cause] continued shifts of workloads to a cloud environment, prompting the database market to grow robustly, especially NoSQL databases like document-based databases, as companies realize how much easier it is to scale data storage in the clouds [Relation] enable [Effect] MongoDB is in its infancy but has a massive market opportunity and a large runway for growth ahead of itself",
    "valid": false
  },
  {
    "input": "Adoption of products like RPA can have to two to three times revenue uplift potential in the cloud compared with on-premises and can be deployed at very low incremental cost, helping expand gross margins.",
    "output": "[Cause] Adoption of products like RPA [Relation] enable, help [Effect] revenue uplift potential in the cloud compared with on-premises, expand gross margins",
    "gold": "[Cause] Adoption of products like RPA [Relation] cause [Effect] two to three times revenue uplift potential in the cloud compared with on-premises",
    "valid": false
  },
  {
    "input": "Adoption of products like RPA can have to two to three times revenue uplift potential in the cloud compared with on-premises and can be deployed at very low incremental cost, helping expand gross margins.",
    "output": "[Cause] Adoption of products like RPA [Relation] enable [Effect] two to three times revenue uplift potential in the cloud compared with on-premises",
    "gold": "[Cause] be deployed at very low incremental cost [Relation] cause [Effect] expand gross margins",
    "valid": false
  },
  {
    "input": "The deal must still be approved by regulators, but once the deal closes, Thomson Reuters will own approximately 15% of the London Stock Exchange, enabling the company to be increasingly focused on enterprise software and legal data.",
    "output": "[Cause] Thomson Reuters will own approximately 15% of the London Stock Exchange [Relation] enable [Effect] enabling the company to be increasingly focused on enterprise software and legal data",
    "gold": "[Cause] the deal closes [Relation] cause [Effect] Thomson Reuters will own approximately 15% of the London Stock Exchange",
    "valid": false
  },
  {
    "input": "If interest rates increase, Williams shares could underperform, as a steepening yield curve increases the value of competing income alternatives.",
    "output": "[Cause] interest rates increase [Relation] cause [Effect] Williams shares could underperform",
    "gold": "[Cause] a steepening yield curve [Relation] cause [Effect] increases the value of competing income alternatives",
    "valid": false
  },
  {
    "input": "If interest rates increase, Williams shares could underperform, as a steepening yield curve increases the value of competing income alternatives.",
    "output": "[Cause] interest rates increase [Relation] cause [Effect] Williams shares could underperform",
    "gold": "[Cause] interest rates increase [Relation] cause [Effect] Williams shares could underperform",
    "valid": true
  },
  {
    "input": "We expect General Mills to continue to adjust its portfolio to better align with secular trends, but this strategy has limitations, as it can also impair economic profits.",
    "output": "[Cause] General Mills' strategy to adjust its portfolio to better align with secular trends [Relation] cause [Effect] limitations and impairing economic profits",
    "gold": "[Cause] it can also impair economic profits [Relation] cause [Effect] We expect General Mills to continue to adjust its portfolio to better align with secular trends, but this strategy has limitations",
    "valid": false
  },
  {
    "input": "We also expect some continued growth from the fixed-line side as its broadband and other services such as data centers and IT services offset voice declines.",
    "output": "[Cause] broadband and other services such as data centers and IT services [Relation] offset [Effect] continued growth from the fixed-line side",
    "gold": "[Cause] its broadband and other services such as data centers and IT services [Relation] cause [Effect] offset voice declines",
    "valid": false
  },
  {
    "input": "This year, Expeditors is seeing air and ocean volume pressure from pandemic lockdowns, though airfreight rates (to shippers) are spiking on tight capacity, providing a strong offset, and demand is rebounding sequentially in the second half.",
    "output": "[Cause] air and ocean volume pressure from pandemic lockdowns [Relation] cause [Effect] airfreight rates (to shippers) are spiking on tight capacity, providing a strong offset, and demand is rebounding sequentially in the second half",
    "gold": "[Cause] pandemic lockdowns [Relation] cause [Effect] Expeditors is seeing air and ocean volume pressure",
    "valid": false
  },
  {
    "input": "The bank was previously quite exposed to commercial real estate as well as oil and gas, but has since hired a new chief risk officer and reduced the risk in its loan portfolio by diversifying away from these types of loans.",
    "output": "[Cause] hired a new chief risk officer and reduced the risk in its loan portfolio [Relation] cause [Effect] diversifying away from commercial real estate and oil and gas loans",
    "gold": "[Cause] diversifying away from these types of loans [Relation] enable [Effect] reduced the risk in its loan portfolio",
    "valid": false
  },
  {
    "input": "Steelmakers' profitability is highly linked to raw material prices (the iron ore price in particular), while weak steel demand would result in a reduction in pricing power for Posco.",
    "output": "[Cause] weak steel demand [Relation] cause [Effect] reduction in pricing power for Posco.",
    "gold": "[Cause] weak steel demand [Relation] cause [Effect] a reduction in pricing power for Posco",
    "valid": false
  },
  {
    "input": "Much of the company's success hinges on the relationships it has built through years of low prices and excellent customer service at its Southeastern electric utilities.",
    "output": "[Cause] years of low prices and excellent customer service at its Southeastern electric utilities [Relation] enable [Effect] the company's success hinges on the relationships it has built",
    "gold": "[Cause] the relationships it has built through years of low prices and excellent customer service at its Southeastern electric utilities [Relation] cause [Effect] Much of the company's success",
    "valid": false
  },
  {
    "input": "We now see 2021 revPAR recovering to the mid-80s of 2019's level versus 79% prior, as increased vaccination rates push travel demand higher.",
    "output": "[Cause] increased vaccination rates [Relation] enable [Effect] push travel demand higher",
    "gold": "[Cause] increased vaccination rates [Relation] cause [Effect] push travel demand higher",
    "valid": true
  },
  {
    "input": "Further, the key components of the products (such as servo motors) are manufactured in-house through the robotic factories. These factors allow savings in transportation costs related to parts procurement as well as savings achieved through economies of scale.",
    "output": "[Cause] the key components of the products (such as servo motors) are manufactured in-house through the robotic factories [Relation] enable [Effect] savings in transportation costs related to parts procurement as well as savings achieved through economies of scale",
    "gold": "[Cause] the key components of the products (such as servo motors) are manufactured in-house through the robotic factories [Relation] enable [Effect] savings in transportation costs related to parts procurement as well as savings achieved through economies of scale",
    "valid": true
  },
  {
    "input": "If a contaminant enters a product and is not caught through inspection, product recalls can occur, which can be highly damaging to customers' financial performance in the short term and the firm's brand and reputation with retail consumers. As such, food and beverage companies are likely willing to pay a premium for effective inspection equipment and tend to not resist reasonable price increases.",
    "output": "[Cause] If a contaminant enters a product and is not caught through inspection [Relation] cause [Effect] product recalls can occur",
    "gold": "[Cause] If a contaminant enters a product and is not caught through inspection, product recalls can occur, which can be highly damaging to customers' financial performance in the short term and the firm's brand and reputation with retail consumers [Relation] cause [Effect] food and beverage companies are likely willing to pay a premium for effective inspection equipment and tend to not resist reasonable price increases",
    "valid": false
  },
  {
    "input": "We anticipate capacity will be about 75% of 2019 levels, as American generally has a domestic network, load factors will be roughly 70%, and that yields will increase somewhat with demand.",
    "output": "[Cause] capacity will be about 75% of 2019 levels, American generally has a domestic network, load factors will be roughly 70% [Relation] enable [Effect] yields will increase somewhat with demand",
    "gold": "[Cause] American generally has a domestic network [Relation] cause [Effect] capacity will be about 75% of 2019 levels",
    "valid": false
  },
  {
    "input": "We believe the firm will have opportunities to reduce costs and take advantage of operating leverage, but we expect those gains will largely be passed to consumers by way of lower prices, as Akamai looks to keep an edge in an increasingly competitive environment.",
    "output": "[Cause] opportunities to reduce costs and take advantage of operating leverage [Relation] cause [Effect] gains will largely be passed to consumers by way of lower prices",
    "gold": "[Cause] Akamai looks to keep an edge in an increasingly competitive environment [Relation] cause [Effect] those gains will largely be passed to consumers by way of lower prices",
    "valid": false
  },
  {
    "input": "New competition could dramatically slow T-Mobile's momentum in the market, causing it to fail to gain the scale needed to compete long term.",
    "output": "[Cause] New competition [Relation] cause [Effect] dramatically slow T-Mobile's momentum in the market",
    "gold": "[Cause] dramatically slow T-Mobile's momentum in the market [Relation] cause [Effect] causing it to fail to gain the scale needed to compete long term",
    "valid": false
  },
  {
    "input": "US Foods has disclosed that the cash-and-carry formats help increase the firm's share of wallet with clients that use both services and the economics on the stores are attractive.",
    "output": "[Cause] the cash-and-carry formats help increase the firm's share of wallet with clients that use both services and the economics on the stores are attractive [Relation] enable [Effect] US Foods has disclosed",
    "gold": "[Cause] the cash-and-carry formats [Relation] enable [Effect] increase the firm's share of wallet",
    "valid": false
  },
  {
    "input": "Large global CROs, such as PPD, have developed regulatory expertise and proprietary data that help them produce the best trial designs and enroll patients into trials quickly and efficiently, which allows drugs to reach the market faster.",
    "output": "[Cause] Large global CROs, such as PPD, have developed regulatory expertise and proprietary data [Relation] enable [Effect] help them produce the best trial designs and enroll patients into trials quickly and efficiently",
    "gold": "[Cause] produce the best trial designs and enroll patients into trials quickly and efficiently [Relation] enable [Effect] drugs to reach the market faster",
    "valid": false
  },
  {
    "input": "We also believe that this segment benefits from the long length of time required for the customer to switch, as the Bradley replacement has been solicited in various iterations for over a decade, and a replacement would need likely take quite a while to fully develop.",
    "output": "[Cause] the long length of time required for the customer to switch, as the Bradley replacement has been solicited in various iterations for over a decade [Relation] cause [Effect] a replacement would likely take quite a while to fully develop",
    "gold": "[Cause] the Bradley replacement has been solicited in various iterations for over a decade, and a replacement would need likely take quite a while to fully develop [Relation] cause [Effect] We also believe that this segment benefits from the long length of time required for the customer to switch",
    "valid": false
  },
  {
    "input": "We also believe that this segment benefits from the long length of time required for the customer to switch, as the Bradley replacement has been solicited in various iterations for over a decade, and a replacement would need likely take quite a while to fully develop.",
    "output": "[Cause] the long length of time required for the customer to switch [Relation] enable [Effect] a replacement would likely take quite a while to fully develop",
    "gold": "[Cause] the long length of time required for the customer to switch [Relation] enable [Effect] this segment",
    "valid": false
  },
  {
    "input": "For large manufacturers, breadth of portfolio offers the best chance of owning at least a few of the category-growing brands at any point in time and on a consistent basis; this makes them an important partner to retailers and distributors.",
    "output": "[Cause] breadth of portfolio [Relation] enable [Effect] offers the best chance of owning at least a few of the category-growing brands at any point in time and on a consistent basis",
    "gold": "[Cause] breadth of portfolio offers the best chance of owning at least a few of the category-growing brands at any point in time and on a consistent basis [Relation] enable [Effect] makes them an important partner to retailers and distributors",
    "valid": false
  },
  {
    "input": "These dealers are supported by Komatsu through the provision of technical support and training and can also leverage its advertising, retail financing, and insurance services.",
    "output": "[Cause] Komatsu provides technical support, training, advertising, retail financing, and insurance services [Relation] enable [Effect] These dealers are supported by Komatsu",
    "gold": "[Cause] Komatsu through the provision of technical support and training [Relation] cause [Effect] leverage its advertising, retail financing, and insurance services",
    "valid": false
  },
  {
    "input": "We are increasing our Sempra fair value estimate to $128 per share from $125 after incorporating time-value appreciation since our last update and minor changes to our five-year outlook.",
    "output": "[Cause] incorporating time-value appreciation since our last update and minor changes to our five-year outlook [Relation] cause [Effect] Increasing Sempra fair value estimate to $128 per share from $125",
    "gold": "[Cause] incorporating time-value appreciation since our last update and minor changes to our five-year outlook [Relation] cause [Effect] We are increasing our Sempra fair value estimate to $128 per share from $125",
    "valid": false
  },
  {
    "input": "We expect that volume increases in the high-margin 737 MAX will bring Boeing commercial's operating margin to a midteens level.",
    "output": "[Cause] volume increases in the high-margin 737 MAX [Relation] enable [Effect] bring Boeing commercial's operating margin to a midteens level",
    "gold": "[Cause] volume increases in the high-margin 737 MAX [Relation] cause [Effect] bring Boeing commercial's operating margin to a midteens level",
    "valid": true
  },
  {
    "input": "Fifth Third was hit quite hard during the last recession, with its outsize exposure to Rust belt economies such as Detroit, and provisioning that ate up all the bank's net interest income in 2008 and 2009. This has meant that the bank has not historically had a credit cost advantage, and its operating efficiency ratios have been pressured as well.",
    "output": "[Cause] outsize exposure to Rust belt economies such as Detroit, provisioning that ate up all the bank's net interest income in 2008 and 2009 [Relation] cause [Effect] Fifth Third was hit quite hard during the last recession",
    "gold": "[Cause] Fifth Third was hit quite hard during the last recession, with its outsize exposure to Rust belt economies such as Detroit, and provisioning that ate up all the bank's net interest income in 2008 and 2009 [Relation] cause [Effect] the bank has not historically had a credit cost advantage, and its operating efficiency ratios have been pressured as well",
    "valid": false
  },
  {
    "input": "We expect Delta's fundamentals will recover after a COVID-19 vaccine is distributed, which we assume will occur in 2021, and business travel subsequently resumes.",
    "output": "[Cause] a COVID-19 vaccine is distributed [Relation] enable [Effect] Delta's fundamentals will recover",
    "gold": "[Cause] a COVID-19 vaccine is distributed [Relation] cause [Effect] Delta's fundamentals will recover",
    "valid": true
  },
  {
    "input": "In our opinion, this could force Groupon to either increase sales expenses or lower the very attractive above-30% take rates in order to attract more merchants and increase the number of discount offerings on its sites.",
    "output": "[Cause] the need to attract more merchants and increase the number of discount offerings on its sites [Relation] cause [Effect] Groupon may either increase sales expenses or lower take rates",
    "gold": "[Cause] this could force Groupon to either increase sales expenses or lower the very attractive above-30% take rates [Relation] enable [Effect] attract more merchants and increase the number of discount offerings on its sites",
    "valid": false
  },
  {
    "input": "These items should support competitive core deposit costs, above-average operating efficiency, higher fee income levels, and pricing advantages for the auto business, all of which should enable the bank to consistently earn returns that exceed its 9% cost of equity through the cycle.",
    "output": "[Cause] These items should support competitive core deposit costs, above-average operating efficiency, higher fee income levels, and pricing advantages for the auto business [Relation] enable [Effect] enable the bank to consistently earn returns that exceed its 9% cost of equity through the cycle",
    "gold": "[Cause] These items [Relation] enable [Effect] support competitive core deposit costs, above-average operating efficiency, higher fee income levels, and pricing advantages for the auto business",
    "valid": false
  },
  {
    "input": "Alliance Data Systems gathers data on its client's customers, helping to better tailor these programs, which can create some switching costs in the process.",
    "output": "[Cause] Alliance Data Systems gathers data on its client's customers, helping to better tailor these programs [Relation] cause [Effect] create some switching costs in the process",
    "gold": "[Cause] Alliance Data Systems gathers data on its client's customers [Relation] enable [Effect] better tailor these programs",
    "valid": false
  },
  {
    "input": "Alliance Data Systems gathers data on its client's customers, helping to better tailor these programs, which can create some switching costs in the process.",
    "output": "[Cause] Alliance Data Systems gathers data on its client's customers and tailors programs to better fit their needs [Relation] cause [Effect] create some switching costs for the clients",
    "gold": "[Cause] Alliance Data Systems gathers data on its client's customers [Relation] cause [Effect] create some switching costs in the process",
    "valid": false
  },
  {
    "input": "Magellan only seeks long-term contracts when further investments are needed to ensure recovery of its capital, so only about 40% of its refined product shipments were subject to term commitments (usually involving reduced fees) with about three years until expiry.",
    "output": "[Cause] further investments are needed to ensure recovery of its capital [Relation] enable [Effect] Magellan only seeks long-term contracts",
    "gold": "[Cause] Magellan only seeks long-term contracts when further investments are needed to ensure recovery of its capital [Relation] cause [Effect] only about 40% of its refined product shipments were subject to term commitments (usually involving reduced fees) with about three years until expiry",
    "valid": false
  },
  {
    "input": "The expense deleverage that the company faces during periods of softer recruitment underscores the intensity that competitive pressures can have on its business model, as well as the need to develop more comprehensive health and wellness offerings across its marketing and other consumer engagement efforts.",
    "output": "[Cause] competitive pressures [Relation] cause [Effect] expense deleverage that the company faces during periods of softer recruitment",
    "gold": "[Cause] The expense deleverage that the company faces during periods of softer recruitment [Relation] cause [Effect] the intensity that competitive pressures can have on its business model, as well as the need to develop more comprehensive health and wellness offerings across its marketing and other consumer engagement efforts",
    "valid": false
  },
  {
    "input": "We assume the new Medicare clinical lab fee schedule adjustments from the first three-year cycle of rating setting will have greater impact in 2020 and 2021, with some easing in 2022 thanks to recent COVID-19 stimulus legislation that further delays the resetting of rates until 2022.",
    "output": "[Cause] new Medicare clinical lab fee schedule adjustments from the first three-year cycle of rating setting [Relation] cause [Effect] greater impact in 2020 and 2021",
    "gold": "[Cause] some easing in 2022 thanks to recent COVID-19 stimulus legislation that further delays the resetting of rates until 2022 [Relation] cause [Effect] We assume the new Medicare clinical lab fee schedule adjustments from the first three-year cycle of rating setting will have greater impact in 2020 and 2021",
    "valid": false
  },
  {
    "input": "We believe this weakness is because Smucker is heavily exposed to the value and mainstream segments, which have lost share as consumers shift purchases to the premium and superpremium segments, suggesting that Smucker has failed to amass pricing power in this niche.",
    "output": "[Cause] Smucker is heavily exposed to the value and mainstream segments, which have lost share as consumers shift purchases to the premium and superpremium segments [Relation] indicate [Effect] Smucker has failed to amass pricing power in this niche",
    "gold": "[Cause] Smucker is heavily exposed to the value and mainstream segments [Relation] cause [Effect] this weakness",
    "valid": false
  },
  {
    "input": "We don't believe Sling will be able to grow meaningfully over the next five years as it too faces online competition.",
    "output": "[Cause] faces online competition [Relation] cause [Effect] Sling will not be able to grow meaningfully over the next five years",
    "gold": "[Cause] it too faces online competition [Relation] cause [Effect] We don't believe Sling will be able to grow meaningfully over the next five years",
    "valid": false
  },
  {
    "input": "Airlines faced the worst operating environment in history in 2020 due to the COVID-19 pandemic and dramatically cut capacity to respond to steep drops in demand.",
    "output": "[Cause] the COVID-19 pandemic [Relation] cause [Effect] Airlines faced the worst operating environment in history in 2020",
    "gold": "[Cause] the COVID-19 pandemic [Relation] cause [Effect] Airlines faced the worst operating environment in history in 2020",
    "valid": true
  },
  {
    "input": "Airlines faced the worst operating environment in history in 2020 due to the COVID-19 pandemic and dramatically cut capacity to respond to steep drops in demand.",
    "output": "[Cause] the COVID-19 pandemic and dramatically cut capacity to respond to steep drops in demand [Relation] cause [Effect] Airlines faced the worst operating environment in history in 2020",
    "gold": "[Cause] respond to steep drops in demand [Relation] cause [Effect] dramatically cut capacity",
    "valid": false
  },
  {
    "input": "This expansion will also support a higher per-employee-per-year (PEPY) price that will allow the firm to generate more value per client.",
    "output": "[Cause] expansion [Relation] enable [Effect] The firm will generate more value per client",
    "gold": "[Cause] This expansion will also support a higher per-employee-per-year (PEPY) price [Relation] enable [Effect] will allow the firm to generate more value per client",
    "valid": false
  },
  {
    "input": "The deal afforded Waste Connections the opportunity to apply its top-tier operational know-how and pricing discipline to bring Progressive's profitability up to par with its own.",
    "output": "[Cause] Waste Connections' top-tier operational know-how and pricing discipline [Relation] enable [Effect] bring Progressive's profitability up to par with its own",
    "gold": "[Cause] The deal [Relation] enable [Effect] afforded Waste Connections the opportunity to apply its top-tier operational know-how and pricing discipline to bring Progressive's profitability up to par with its own",
    "valid": false
  },
  {
    "input": "We believe its ability for higher investment into tech platforms that can scale, as well as its access to customer data on millions of households, should bolster the bank's advantages over the longer run.",
    "output": "[Cause] higher investment into tech platforms that can scale, access to customer data on millions of households [Relation] enable [Effect] bolster the bank's advantages over the longer run",
    "gold": "[Cause] its ability for higher investment into tech platforms that can scale, as well as its access to customer data on millions of households [Relation] cause [Effect] bolster the bank's advantages over the longer run",
    "valid": false
  },
  {
    "input": "Expansion of newer (like textiles from the Company Store acquisition) and existing (such as appliances) categories could also drive demand.",
    "output": "[Cause] Expansion of newer (like textiles from the Company Store acquisition) and existing (such as appliances) categories [Relation] enable [Effect] drive demand",
    "gold": "[Cause] Expansion of newer (like textiles from the Company Store acquisition) and existing (such as appliances) categories [Relation] cause [Effect] drive demand",
    "valid": true
  },
  {
    "input": "Burlington has faced inventory flow challenges (despite ample product availability) as it and its vendors restart their supply and distribution networks; freight costs are also rising sharply.",
    "output": "[Cause] Burlington and its vendors restart their supply and distribution networks; freight costs are rising sharply [Relation] cause [Effect] Burlington has faced inventory flow challenges (despite ample product availability)",
    "gold": "[Cause] it and its vendors restart their supply and distribution networks; freight costs are also rising sharply [Relation] cause [Effect] Burlington has faced inventory flow challenges (despite ample product availability)",
    "valid": false
  },
  {
    "input": "The partnership is not entirely insulated from energy market risk, since volumes on its system can fall if oil producers slow drilling or refineries face falling demand.",
    "output": "[Cause] oil producers slow drilling or refineries face falling demand [Relation] cause [Effect] volumes on its system can fall",
    "gold": "[Cause] oil producers slow drilling or refineries face falling demand [Relation] cause [Effect] volumes on its system can fall",
    "valid": true
  },
  {
    "input": "The partnership is not entirely insulated from energy market risk, since volumes on its system can fall if oil producers slow drilling or refineries face falling demand.",
    "output": "[Cause] oil producers slow drilling or refineries face falling demand [Relation] cause [Effect] volumes on its system can fall",
    "gold": "[Cause] volumes on its system can fall [Relation] cause [Effect] The partnership is not entirely insulated from energy market risk",
    "valid": false
  },
  {
    "input": "Second, once Splunk's software is integrated, switching to a new platform could lead to business disruption and operational risk, resulting in data loss.",
    "output": "[Cause] once Splunk's software is integrated [Relation] cause [Effect] switching to a new platform could lead to business disruption and operational risk, resulting in data loss",
    "gold": "[Cause] business disruption and operational risk [Relation] cause [Effect] data loss",
    "valid": false
  },
  {
    "input": "Low interest rates will continue to exert pressure on SocGen's net interest income, while fee income is likely to decline in 2020 as underwriting activities in investment banking are likely to grind to a halt.",
    "output": "[Cause] Low interest rates [Relation] cause [Effect] pressure on SocGen's net interest income",
    "gold": "[Cause] underwriting activities in investment banking are likely to grind to a halt [Relation] cause [Effect] fee income is likely to decline in 2020",
    "valid": false
  },
  {
    "input": "Operationally, HSBC's cost structure is expected to be streamlined further as the bank announced another round of business restructuring.",
    "output": "[Cause] the bank announced another round of business restructuring [Relation] cause [Effect] HSBC's cost structure is expected to be streamlined further",
    "gold": "[Cause] another round of business restructuring. [Relation] cause [Effect] C's cost structure is expected to be streamlined further",
    "valid": false
  },
  {
    "input": "Further, we don't expect promotional spending will remain dormant over a longer horizon (as has been the case since March 2020, given the extent to which demand has been outpacing supply in categories throughout the store), as competitors muscle for share gains, which should lead to decelerating sales growth.",
    "output": "[Cause] competitors muscle for share gains [Relation] cause [Effect] promotional spending will not remain dormant over a longer horizon",
    "gold": "[Cause] competitors muscle for share gains [Relation] cause [Effect] lead to decelerating sales growth",
    "valid": false
  },
  {
    "input": "We believe the disjointed construction of Ergo's German primary insurance offering led to managerial issues as well as cost inefficiencies and a lack of local market penetration.",
    "output": "[Cause] the disjointed construction of Ergo's German primary insurance offering [Relation] cause [Effect] managerial issues, cost inefficiencies, lack of local market penetration",
    "gold": "[Cause] the disjointed construction [Relation] cause [Effect] managerial issues as well as cost inefficiencies and a lack of local market penetration",
    "valid": false
  },
  {
    "input": "Should all major high-end OEMs utilize only in-house application processors, Qualcomm's chips would be relegated to lower-priced handsets that would curb chip margins.",
    "output": "[Cause] all major high-end OEMs utilize only in-house application processors [Relation] prevent [Effect] Qualcomm's chips would be relegated to lower-priced handsets",
    "gold": "[Cause] Qualcomm's chips would be relegated to lower-priced handsets [Relation] prevent [Effect] chip margins",
    "valid": false
  },
  {
    "input": "We assume that management will be moderately successful with its European consolidation, lifting margins for that segment that will elevate the company's historically low operating margin of 8.0% in 2019 to 10% in 2024.",
    "output": "[Cause] management will be moderately successful with its European consolidation [Relation] cause [Effect] lifting margins for that segment",
    "gold": "[Cause] management will be moderately successful with its European consolidation, lifting margins for that segment [Relation] enable [Effect] elevate the company's historically low operating margin of 8.0% in 2019 to 10% in 2024",
    "valid": false
  },
  {
    "input": "Air travel is a carbon-intensive service, and stiffer regulations on carbon emissions would likely raise the price of air travel and thus depress demand.",
    "output": "[Cause] stiffer regulations on carbon emissions [Relation] cause [Effect] raise the price of air travel",
    "gold": "[Cause] stiffer regulations on carbon emissions [Relation] cause [Effect] raise the price of air travel",
    "valid": true
  },
  {
    "input": "Air travel is a carbon-intensive service, and stiffer regulations on carbon emissions would likely raise the price of air travel and thus depress demand.",
    "output": "[Cause] stiffer regulations on carbon emissions [Relation] cause [Effect] raise the price of air travel",
    "gold": "[Cause] raise the price of air travel [Relation] cause [Effect] depress demand",
    "valid": false
  },
  {
    "input": "Absent the Legg Mason deal, which added $797 billion in AUM at the end of July 2020, the firm's managed assets were up 0.3% on a year-over-year basis.",
    "output": "[Cause] the Legg Mason deal, which added $797 billion in AUM at the end of July 2020 [Relation] cause [Effect] the firm's managed assets were up 0.3% on a year-over-year basis (excluding the Legg Mason deal)",
    "gold": "[Cause] Absent the Legg Mason deal [Relation] cause [Effect] the firm's managed assets were up 0.3% on a year-over-year basis",
    "valid": false
  },
  {
    "input": "We think there is a risk these partners will look elsewhere if Neogen does not successfully scale licensed products, and partners could also demand a greater share of profits if co-developed products are highly successful.",
    "output": "[Cause] Neogen does not successfully scale licensed products [Relation] cause [Effect] risk of partners looking elsewhere",
    "gold": "[Cause] Neogen does not successfully scale licensed products [Relation] cause [Effect] these partners will look elsewhere",
    "valid": false
  },
  {
    "input": "We think there is a risk these partners will look elsewhere if Neogen does not successfully scale licensed products, and partners could also demand a greater share of profits if co-developed products are highly successful.",
    "output": "[Cause] Neogen does not successfully scale licensed products [Relation] if [Effect] partners will look elsewhere",
    "gold": "[Cause] co-developed products are highly successful [Relation] cause [Effect] partners could also demand a greater share of profits",
    "valid": false
  },
  {
    "input": "We also expect incremental adjusted OR (net of fuel) improvement to around 85.1% in 2021, thanks in part to leverage from strong pricing.",
    "output": "[Cause] leverage from strong pricing [Relation] enable [Effect] incremental adjusted OR (net of fuel) improvement to around 85.1% in 2021",
    "gold": "[Cause] leverage from strong pricing [Relation] cause [Effect] incremental adjusted OR (net of fuel) improvement to around 85.1% in 2021",
    "valid": true
  },
  {
    "input": "Its portfolio of widely successful franchises allows the firm to monetize its intellectual property year Electronic Gaming & Multimediaafter year by delivering content via sequels, expansion packs, downloadable content, or DLC, and toys, exemplified by the decade-old World of Warcraft franchise and the annual versions of Call of Duty.",
    "output": "[Cause] portfolio of widely successful franchises [Relation] enable [Effect] allows the firm to monetize its intellectual property year after year by delivering content via sequels, expansion packs, downloadable content, or DLC, and toys",
    "gold": "[Cause] delivering content via sequels, expansion packs, downloadable content, or DLC, and toys [Relation] enable [Effect] allows the firm to monetize its intellectual property",
    "valid": false
  },
  {
    "input": "In this regard, the company's success can be attributed to its aggressive approach at building a recognizable brand to attract consumers and consequently the agents seeking their business.",
    "output": "[Cause] the company's aggressive approach at building a recognizable brand [Relation] enable [Effect] attracting consumers and consequently the agents seeking their business",
    "gold": "[Cause] aggressive approach at building a recognizable brand [Relation] cause [Effect] attract consumers and consequently the agents seeking their business",
    "valid": false
  },
  {
    "input": "Additionally, broadband pricing is low in Mexico, which allows for price increases in the near to medium term as Internet access becomes even more a necessity for Mexican households.",
    "output": "[Cause] broadband pricing is low in Mexico [Relation] enable [Effect] price increases in the near to medium term",
    "gold": "[Cause] Internet access becomes even more a necessity for Mexican households [Relation] enable [Effect] price increases in the near to medium term",
    "valid": false
  },
  {
    "input": "In our view, Okta has ample cross-selling and up-selling opportunities after landing initial solutions, and we expect entities to favor purchasing their customer identity solutions in a hybrid-cloud world over in-house developments.",
    "output": "[Cause] Okta has ample cross-selling and up-selling opportunities after landing initial solutions [Relation] cause [Effect] entities to favor purchasing their customer identity solutions in a hybrid-cloud world over in-house developments",
    "gold": "[Cause] landing initial solutions [Relation] enable [Effect] Okta has ample cross-selling and up-selling opportunities",
    "valid": false
  },
  {
    "input": "Beyond the patent protection of its marketed products (through 2024 for Eylea and 2031 for Dupixent), all of Regeneron marketed and pipeline products are biologics, which provide added defense from generic competition due to the complexity and cost of manufacturing biosimilars.",
    "output": "[Cause] All of Regeneron marketed and pipeline products are biologics [Relation] cause [Effect] provide added defense from generic competition due to the complexity and cost of manufacturing biosimilars",
    "gold": "[Cause] the complexity and cost of manufacturing biosimilars. [Relation] cause [Effect] provide added defense from generic competition",
    "valid": false
  },
  {
    "input": "Additionally, the newly acquired Maverick Boat Group brings exposure to more than 70 dealers to the corporate mix, potentially helping expand Pursuit's brand reach over time. As a result, we believe Malibu's distribution network would be difficult for a new entrant or competitor to replicate.",
    "output": "[Cause] the newly acquired Maverick Boat Group brings exposure to more than 70 dealers to the corporate mix [Relation] enable [Effect] potentially helping expand Pursuit's brand reach over time",
    "gold": "[Cause] the newly acquired Maverick Boat Group brings exposure to more than 70 dealers to the corporate mix, potentially helping expand Pursuit's brand reach over time [Relation] cause [Effect] we believe Malibu's distribution network would be difficult for a new entrant or competitor to replicate",
    "valid": false
  },
  {
    "input": "We have strong confidence that government energy policies worldwide will support rapidly growing solar demand for at least the next 10 years.",
    "output": "[Cause] government energy policies worldwide [Relation] enable [Effect] support rapidly growing solar demand for at least the next 10 years",
    "gold": "[Cause] rapidly growing solar demand [Relation] cause [Effect] government energy policies worldwide will suppor",
    "valid": false
  },
  {
    "input": "We believe investment in plant upgrades and new projects will support ROICs during the next five years, averaging a healthy spread over Ormat's cost of capital.",
    "output": "[Cause] investment in plant upgrades and new projects [Relation] enable [Effect] support ROICs during the next five years, averaging a healthy spread over Ormat's cost of capital",
    "gold": "[Cause] investment in plant upgrades and new projects [Relation] enable [Effect] support ROICs during the next five years, averaging a healthy spread over Ormat's cost of capital",
    "valid": true
  },
  {
    "input": "Many of the most apposite locales for breweries in the country (be it because of proximity to ports, warehousing facilities, or labor availability) are plagued by water supply issues. These include relying on water bodies (such as the Colorado River) where average annual flows are at historic lows, or on underground aquifers that are overexploited.",
    "output": "[Cause] Many of the most apposite locales for breweries in the country (proximity to ports, warehousing facilities, or labor availability) [Relation] cause [Effect] plagued by water supply issues",
    "gold": "[Cause] relying on water bodies (such as the Colorado River) where average annual flows are at historic lows, or on underground aquifers that are overexploited [Relation] enable [Effect] Many of the most apposite locales for breweries in the country (be it because of proximity to ports, warehousing facilities, or labor availability) are plagued by water supply issues",
    "valid": false
  },
  {
    "input": "Reliance is likely to enjoy slow but steady organic growth via shipments to the nonresidential construction, automotive, energy, heavy equipment, and aerospace end markets.",
    "output": "[Cause] shipments to the nonresidential construction, automotive, energy, heavy equipment, and aerospace end markets [Relation] enable [Effect] Reliance is likely to enjoy slow but steady organic growth",
    "gold": "[Cause] shipments to the nonresidential construction, automotive, energy, heavy equipment, and aerospace end markets [Relation] enable [Effect] Reliance is likely to enjoy slow but steady organic growth",
    "valid": true
  },
  {
    "input": "We expect HCA to enjoy similar low-single-digit pricing power overall during the next 10 years in our base-case scenario, which should help it generate economic profits.",
    "output": "[Cause] expect HCA to enjoy similar low-single-digit pricing power overall [Relation] cause [Effect] help it generate economic profits",
    "gold": "[Cause] HCA to enjoy similar low-single-digit pricing power overall during the next 10 years in our base-case scenario [Relation] enable [Effect] it generate economic profits",
    "valid": false
  },
  {
    "input": "Gold mining carries many ESG risks, all of which carry medium probability and some materiality. As such, we include risks from labor strikes, disagreements with local governments and communities, and the ever-present risk of mine accidents in our scenario analysis.",
    "output": "[Cause] Gold mining carries many ESG risks, including labor strikes, disagreements with local governments and communities, and the risk of mine accidents. [Relation] cause [Effect] inclusion of these risks in scenario analysis",
    "gold": "[Cause] Gold mining carries many ESG risks, all of which carry medium probability and some materiality [Relation] cause [Effect] risks from labor strikes, disagreements with local governments and communities, and the ever-present risk of mine accidents in our scenario analysis",
    "valid": false
  },
  {
    "input": "For example, the aquatic systems segment derives roughly 85% of its sales from aftermarket service and replacement parts. As such, the bulk of the segment's sales is attributable to over 5 million existing swimming pools in the U.S., and Pentair does not rely solely on new construction starts to increase its revenue in the segment.",
    "output": "[Cause] the bulk of the segment's sales is attributable to over 5 million existing swimming pools in the U.S. [Relation] enable [Effect] Pentair does not rely solely on new construction starts to increase its revenue in the segment.",
    "gold": "[Cause] the aquatic systems segment derives roughly 85% of its sales from aftermarket service and replacement parts [Relation] cause [Effect] the bulk of the segment's sales is attributable to over 5 million existing swimming pools in the U.S., and Pentair does not rely solely on new construction starts to increase its revenue in the segment",
    "valid": false
  },
  {
    "input": "The potential volatility in profits and returns brought on by the firm's operating leverage and cyclical demand results in our high uncertainty rating.",
    "output": "[Cause] potential volatility in profits and returns brought on by the firm's operating leverage and cyclical demand [Relation] cause [Effect] high uncertainty rating",
    "gold": "[Cause] The potential volatility in profits and returns [Relation] cause [Effect] our high uncertainty rating",
    "valid": false
  },
  {
    "input": "The potential volatility in profits and returns brought on by the firm's operating leverage and cyclical demand results in our high uncertainty rating.",
    "output": "[Cause] potential volatility in profits and returns brought on by the firm's operating leverage and cyclical demand [Relation] cause [Effect] high uncertainty rating",
    "gold": "[Cause] the firm's operating leverage and cyclical demand [Relation] cause [Effect] The potential volatility in profits and returns",
    "valid": false
  },
  {
    "input": "ESG continues to be a focus for MSCI and in addition to data subscriptions, MSCI monetizes its ESG data in its index segment through ESG index subscriptions and license fees from ESG ETFs.",
    "output": "[Cause] ESG continues to be a focus for MSCI [Relation] enable [Effect] MSCI monetizes its ESG data in its index segment through ESG index subscriptions and license fees from ESG ETFs.",
    "gold": "[Cause] ESG index subscriptions and license fees from ESG ETFs [Relation] enable [Effect] MSCI monetizes its ESG data in its index segment",
    "valid": false
  },
  {
    "input": "We expect demand for uncoated free sheet, used in office paper and envelopes, to decline 4%-5% annually in developed markets, accompanied by falling prices as high-cost production comes offline first.",
    "output": "[Cause] declining demand for uncoated free sheet in developed markets [Relation] cause [Effect] falling prices as high-cost production comes offline first",
    "gold": "[Cause] high-cost production comes offline first [Relation] cause [Effect] falling prices",
    "valid": false
  },
  {
    "input": "The biggest ESG risk we see revolves around broadband and wireless communications' essential function in society, which means regulators may take a heavy hand in ensuring providers reach all residents at reasonable price--potentially limiting pricing power and forcing higher spending even when it doesn't make economic sense.",
    "output": "[Cause] broadband and wireless communications' essential function in society [Relation] cause [Effect] regulators may take a heavy hand in ensuring providers reach all residents at a reasonable price",
    "gold": "[Cause] The biggest ESG risk we see revolves around broadband and wireless communications' essential function in society [Relation] cause [Effect] regulators may take a heavy hand in ensuring providers reach all residents at reasonable price",
    "valid": false
  },
  {
    "input": "The biggest ESG risk we see revolves around broadband and wireless communications' essential function in society, which means regulators may take a heavy hand in ensuring providers reach all residents at reasonable price--potentially limiting pricing power and forcing higher spending even when it doesn't make economic sense.",
    "output": "[Cause] broadband and wireless communications' essential function in society [Relation] cause [Effect] regulators may take a heavy hand in ensuring providers reach all residents at a reasonable price",
    "gold": "[Cause] regulators may take a heavy hand in ensuring providers reach all residents at reasonable price [Relation] cause [Effect] limiting pricing power and forcing higher spending even when it doesn't make economic sense",
    "valid": false
  },
  {
    "input": "Along those lines, low visibility surrounding the magnitude of industrial end market recovery brings elevated uncertainty to our volume assumptions for 2021 and 2022.",
    "output": "[Cause] low visibility surrounding the magnitude of industrial end market recovery [Relation] cause [Effect] elevated uncertainty to our volume assumptions for 2021 and 2022",
    "gold": "[Cause] low visibility surrounding the magnitude of industrial end market recovery [Relation] cause [Effect] elevated uncertainty to our volume assumptions for 2021 and 2022",
    "valid": true
  },
  {
    "input": "While this adds a new level of competition and could apply some pricing pressure, we think the growing body of clinical data for Hologic's Genius system helps to establish its superiority in the minds of clinicians.",
    "output": "[Cause] the growing body of clinical data for Hologic's Genius system helps to establish its superiority in the minds of clinicians [Relation] enable [Effect] adds a new level of competition and could apply some pricing pressure",
    "gold": "[Cause] the growing body of clinical data for Hologic's Genius system [Relation] enable [Effect] establish its superiority in the minds of clinicians",
    "valid": false
  },
  {
    "input": "Targeting a wide consumer base with a core customer who is female, 35-65 years old with household income of $50,000-over $175,000 also means Wayfair is competing with mass-market retailers, specialty retail, and low-cost providers, making it harder to stay top of mind.",
    "output": "[Cause] Targeting a wide consumer base with a core customer who is female, 35-65 years old with household income of $50,000-over $175,000 [Relation] cause [Effect] making it harder to stay top of mind",
    "gold": "[Cause] Targeting a wide consumer base with a core customer who is female, 35-65 years old with household income of $50,000-over $175,000 [Relation] cause [Effect] Wayfair is competing with mass-market retailers, specialty retail, and low-cost providers",
    "valid": false
  },
  {
    "input": "Targeting a wide consumer base with a core customer who is female, 35-65 years old with household income of $50,000-over $175,000 also means Wayfair is competing with mass-market retailers, specialty retail, and low-cost providers, making it harder to stay top of mind.",
    "output": "[Cause] Targeting a wide consumer base with a core customer who is female, 35-65 years old with household income of $50,000-over $175,000 [Relation] cause [Effect] Wayfair is competing with mass-market retailers, specialty retail, and low-cost providers, making it harder to stay top of mind",
    "gold": "[Cause] Wayfair is competing with mass-market retailers, specialty retail, and low-cost providers [Relation] cause [Effect] harder to stay top of mind",
    "valid": false
  },
  {
    "input": "If the firm is unable to effectively source and integrate new employees, it could slow innovation and affect Splunk's competitive positioning.",
    "output": "[Cause] inability to effectively source and integrate new employees [Relation] cause [Effect] slow innovation and affect Splunk's competitive positioning",
    "gold": "[Cause] the firm is unable to effectively source and integrate new employees [Relation] cause [Effect] slow innovation and affect Splunk's competitive positioning",
    "valid": false
  },
  {
    "input": "Conversely, in multiyear periods of large harvests, volatility is reduced, which limits the trading desk's ability to make a profit.",
    "output": "[Cause] in multiyear periods of large harvests [Relation] cause [Effect] volatility is reduced",
    "gold": "[Cause] in multiyear periods of large harvests, volatility is reduced [Relation] prevent [Effect] the trading desk's ability to make a profit",
    "valid": false
  },
  {
    "input": "In fact, management has indicated that few in the firm itself actually know the process end-to-end in order to preserve the firm's secret sauce.",
    "output": "[Cause] management's indication to preserve the firm's secret sauce [Relation] prevent [Effect] few in the firm actually know the process end-to-end",
    "gold": "[Cause] preserve the firm's secret sauce [Relation] cause [Effect] few in the firm itself actually know the process end-to-end",
    "valid": false
  },
  {
    "input": "Post's cereal businesses represent 61% of corporate profits and are facing secular declines, as consumers shift away from processed, high-sugar, and high-carb foods.",
    "output": "[Cause] consumers shift away from processed, high-sugar, and high-carb foods [Relation] cause [Effect] Post's cereal businesses are facing secular declines",
    "gold": "[Cause] consumers shift away from processed, high-sugar, and high-carb foods [Relation] cause [Effect] Post's cereal businesses represent 61% of corporate profits and are facing secular declines",
    "valid": false
  },
  {
    "input": "But on the whole, we expect Halliburton to earn essentially no economic profits from sand logistics and only slim economic profits from other efficiency advantages. Thus, while Halliburton has previously enjoyed a multifaceted advantage in pressure pumping, we believe its economic profits going forward will come chiefly from one source: its superior pressure pumping equipment.",
    "output": "[Cause] Halliburton's multifaceted advantage in pressure pumping [Relation] cause [Effect] Halliburton to earn essentially no economic profits from sand logistics and only slim economic profits from other efficiency advantages",
    "gold": "[Cause] Halliburton to earn essentially no economic profits from sand logistics and only slim economic profits from other efficiency advantages [Relation] cause [Effect] while Halliburton has previously enjoyed a multifaceted advantage in pressure pumping, we believe its economic profits going forward will come chiefly from one source: its superior pressure pumping equipment",
    "valid": false
  },
  {
    "input": "As at-home food consumption remains elevated during the pandemic, consumers are finding favor with offerings like those in General Mills' portfolio, as shown by increases in household penetration and repeat purchase rates in most categories.",
    "output": "[Cause] elevated at-home food consumption during the pandemic [Relation] enable [Effect] increases in household penetration and repeat purchase rates in most categories for General Mills' portfolio",
    "gold": "[Cause] As at-home food consumption remains elevated during the pandemic [Relation] cause [Effect] consumers are finding favor with offerings like those in General Mills' portfolio, as shown by increases in household penetration and repeat purchase rates in most categories",
    "valid": false
  },
  {
    "input": "Thus, we also expect a five-year average gross margin of 55.6% from fiscal 2021 to fiscal 2026, due to improving utilization with increasing student demand and average selling price hikes.",
    "output": "[Cause] improving utilization with increasing student demand and average selling price hikes [Relation] cause [Effect] a five-year average gross margin of 55.6% from fiscal 2021 to fiscal 2026",
    "gold": "[Cause] improving utilization with increasing student demand and average selling price hikes [Relation] cause [Effect] a five-year average gross margin of 55.6% from fiscal 2021 to fiscal 2026",
    "valid": true
  },
  {
    "input": "With management indicating that mergers and acquisitions are more likely than not, we think LPL will need to show evidence of better advisor conversion following these types of acquisitions, and we like the option of contingency payment deal structures to reduce uncertainty around conversion efforts.",
    "output": "[Cause] management indicating that mergers and acquisitions are more likely than not [Relation] cause [Effect] LPL will need to show evidence of better advisor conversion following these types of acquisitions",
    "gold": "[Cause] management indicating that mergers and acquisitions are more likely than not [Relation] cause [Effect] LPL will need to show evidence of better advisor conversion following these types of acquisitions",
    "valid": true
  },
  {
    "input": "With management indicating that mergers and acquisitions are more likely than not, we think LPL will need to show evidence of better advisor conversion following these types of acquisitions, and we like the option of contingency payment deal structures to reduce uncertainty around conversion efforts.",
    "output": "[Cause] management indicating that mergers and acquisitions are more likely than not [Relation] cause [Effect] LPL will need to show evidence of better advisor conversion following these types of acquisitions",
    "gold": "[Cause] the option of contingency payment deal structures [Relation] enable [Effect] reduce uncertainty around conversion efforts",
    "valid": false
  },
  {
    "input": "Additionally, the high supply growth present in many of the company's markets and the ever-present competition from alternative housing options keeps rent growth in the low- to mid-single-digits. As a result, the company acquired its portfolio at low initial cap rates and the realized internal growth rate isn't high enough to exceed the company's WACC.",
    "output": "[Cause] high supply growth present in many of the company's markets, competition from alternative housing options [Relation] cause, prevent [Effect] rent growth in the low- to mid-single-digits",
    "gold": "[Cause] the high supply growth present in many of the company's markets and the ever-present competition from alternative housing options keeps rent growth in the low- to mid-single-digits [Relation] cause [Effect] the company acquired its portfolio at low initial cap rates and the realized internal growth rate isn't high enough to exceed the company's WACC",
    "valid": false
  },
  {
    "input": "Our gross margin projection for 2021 is 50%, which we believe will incrementally expand over the next five years due to the maturation of EUV, which currently has a lower-than-corporate-average gross margin.",
    "output": "[Cause] maturation of EUV [Relation] enable [Effect] incrementally expand gross margin over the next five years",
    "gold": "[Cause] the maturation of EUV [Relation] cause [Effect] we believe will incrementally expand over the next five years",
    "valid": false
  },
  {
    "input": "As licenses for these facilities are given by state and local officials, if ethylene oxide becomes more of a priority for these state officials, Teleflex could potentially face supply disruptions.",
    "output": "[Cause] ethylene oxide becomes more of a priority for these state officials [Relation] cause [Effect] Teleflex could potentially face supply disruptions",
    "gold": "[Cause] ethylene oxide becomes more of a priority for these state officials [Relation] enable [Effect] Teleflex could potentially face supply disruptions",
    "valid": true
  },
  {
    "input": "The firm was forced to close all its stores temporarily due to the coronavirus crisis in fiscal 2021 and e-commerce (typically about 40% of sales) only partially made up for the lost revenue.",
    "output": "[Cause] the coronavirus crisis [Relation] cause [Effect] The firm was forced to close all its stores temporarily",
    "gold": "[Cause] coronavirus crisis in fiscal 2021 [Relation] cause [Effect] The firm was forced to close all its stores temporarily",
    "valid": false
  },
  {
    "input": "We think it would need to open cultivation internationally if it wants to compete in the global medical cannabis market--an unlikely event until federal laws are changed.",
    "output": "[Cause] federal laws are not changed [Relation] unless [Effect] it would need to open cultivation internationally if it wants to compete in the global medical cannabis market",
    "gold": "[Cause] it wants to compete in the global medical cannabis market [Relation] cause [Effect] it would need to open cultivation internationally",
    "valid": false
  },
  {
    "input": "Still, the most compelling reason to purchase a MongoDB Enterprise Advanced subscription is to navigate the vastly complex terrain of databases with ample assistance, as the commercial license still requires the database to ultimately be run and maintained by the customer--which is an arduous task.",
    "output": "[Cause] the commercial license still requires the database to ultimately be run and maintained by the customer--which is an arduous task [Relation] enable [Effect] the most compelling reason to purchase a MongoDB Enterprise Advanced subscription is to navigate the vastly complex terrain of databases with ample assistance",
    "gold": "[Cause] to navigate the vastly complex terrain of databases with ample assistance [Relation] cause [Effect] to purchase a MongoDB Enterprise Advanced subscription",
    "valid": false
  },
  {
    "input": "Still, the most compelling reason to purchase a MongoDB Enterprise Advanced subscription is to navigate the vastly complex terrain of databases with ample assistance, as the commercial license still requires the database to ultimately be run and maintained by the customer--which is an arduous task.",
    "output": "[Cause] the commercial license still requires the database to ultimately be run and maintained by the customer [Relation] cause [Effect] an arduous task",
    "gold": "[Cause] the commercial license still requires the database to ultimately be run and maintained by the customer [Relation] cause [Effect] to purchase a MongoDB Enterprise Advanced subscription",
    "valid": false
  },
  {
    "input": "We think TSMC's dominant market share and strategy to focus on high-end products put it in the best position to outspend competitors in terms of R&amp;D to advance through GAA and beyond.",
    "output": "[Cause] TSMC's dominant market share and strategy to focus on high-end products [Relation] enable [Effect] put it in the best position to outspend competitors in terms of R&D to advance through GAA and beyond",
    "gold": "[Cause] TSMC's dominant market share and strategy to focus on high-end products [Relation] enable [Effect] it in the best position to outspend competitors in terms of R&amp",
    "valid": false
  },
  {
    "input": "Not only has Oi lost market share in recent years, it has had to compete on price, leaving its share of wireless industry revenue around 10%.",
    "output": "[Cause] Oi has lost market share in recent years [Relation] cause and effect [Effect] Oi has had to compete on price",
    "gold": "[Cause] Not only has Oi lost market share in recent years, it has had to compete on price [Relation] cause [Effect] its share of wireless industry revenue around 10%",
    "valid": false
  },
  {
    "input": "However, absent a headline driving acquisition in the commercial real estate data space, we think the chance that the government will proactively address the issue is low.",
    "output": "[Cause] absence of a headline driving acquisition in the commercial real estate data space [Relation] cause [Effect] low chance that the government will proactively address the issue",
    "gold": "[Cause] absent a headline driving acquisition in the commercial real estate data space [Relation] cause [Effect] the chance that the government will proactively address the issue is low",
    "valid": false
  },
  {
    "input": "Following Echo's impressive first-quarter results, we are raising our fair value estimate to $27.50 from $25.50, due to lifting our medium-term revenue and operating margin forecasts and time value of money since our last update.",
    "output": "[Cause] lifting our medium-term revenue and operating margin forecasts and time value of money since our last update [Relation] cause [Effect] raising our fair value estimate to $27.50 from $25.50",
    "gold": "[Cause] Following Echo's impressive first-quarter results| lifting our medium-term revenue and operating margin forecasts and time value of money since our last update [Relation] cause [Effect] we are raising our fair value estimate to $27.50 from $25.50",
    "valid": false
  },
  {
    "input": "Automotive end markets could prove lucrative as firms turn to Sonoco for light-weighting solutions such as molded foam seating components or trunk liners and load floors that allow them to meet fuel economy standards.",
    "output": "[Cause] firms turn to Sonoco for light-weighting solutions such as molded foam seating components or trunk liners and load floors that allow them to meet fuel economy standards [Relation] enable [Effect] Automotive end markets could prove lucrative",
    "gold": "[Cause] firms turn to Sonoco for light-weighting solutions such as molded foam seating components or trunk liners and load floors [Relation] enable [Effect] allow them to meet fuel economy standards",
    "valid": false
  },
  {
    "input": "Automotive end markets could prove lucrative as firms turn to Sonoco for light-weighting solutions such as molded foam seating components or trunk liners and load floors that allow them to meet fuel economy standards.",
    "output": "[Cause] Automotive firms turn to Sonoco for light-weighting solutions [Relation] enable [Effect] Automotive end markets could prove lucrative",
    "gold": "[Cause] firms turn to Sonoco for light-weighting solutions such as molded foam seating components or trunk liners and load floors [Relation] enable [Effect] Automotive end markets could prove lucrative",
    "valid": false
  },
  {
    "input": "We believe Amazon will continue to develop into a formidable player in digital media, given its vast content offerings, inroads into new verticals (including video games), and ability to sell hardware as a loss leader.",
    "output": "[Cause] its vast content offerings, inroads into new verticals (including video games), and ability to sell hardware as a loss leader [Relation] cause [Effect] Amazon will continue to develop into a formidable player in digital media",
    "gold": "[Cause] its vast content offerings, inroads into new verticals (including video games), and ability to sell hardware as a loss leader [Relation] cause [Effect] Amazon will continue to develop into a formidable player in digital media",
    "valid": true
  },
  {
    "input": "Other pneumatic applications, such as air saver units found in factor air nozzles and air gun applications, cut compressed air costs by 40%-50%.",
    "output": "[Cause] Other pneumatic applications, such as air saver units found in factor air nozzles and air gun applications [Relation] enable [Effect] cut compressed air costs by 40%-50%",
    "gold": "[Cause] Other pneumatic applications, such as air saver units found in factor air nozzles and air gun applications [Relation] cause [Effect] cut compressed air costs by 40%-50%",
    "valid": true
  },
  {
    "input": "We anticipate that wide-body production will remain lower for longer, due to both longer-term challenges in international travel from the COVID-19 pandemic and the increasing ability for narrow-body aircraft to efficiently perform missions that were previously reserved for longer-term aircraft.",
    "output": "[Cause] longer-term challenges in international travel from the COVID-19 pandemic and the increasing ability for narrow-body aircraft to efficiently perform missions that were previously reserved for longer-term aircraft [Relation] cause [Effect] wide-body production will remain lower for longer",
    "gold": "[Cause] both longer-term challenges in international travel from the COVID-19 pandemic and the increasing ability for narrow-body aircraft to efficiently perform missions [Relation] cause [Effect] wide-body production will remain lower for longer",
    "valid": false
  },
  {
    "input": "We project noninterest income growing at a CAGR of 4%, driven by wealth management and capital markets, while expense growth remains fairly steady at 3% per year.",
    "output": "[Cause] growth in wealth management and capital markets [Relation] enable [Effect] project noninterest income growing at a CAGR of 4%",
    "gold": "[Cause] driven by wealth management and capital markets [Relation] enable [Effect] noninterest income growing at a CAGR of 4%",
    "valid": false
  },
  {
    "input": "As a result, operators think it can accommodate at least 20 wells per square mile on the surface, which is at least double the optimum density in other plays. As a result, there are still enough undrilled well locations in the basin to keep the E&amp;P industry busy for decades.",
    "output": "[Cause] it can accommodate at least 20 wells per square mile on the surface, which is at least double the optimum density in other plays [Relation] enable [Effect] there are still enough undrilled well locations in the basin to keep the E&P industry busy for decades",
    "gold": "[Cause] operators think it can accommodate at least 20 wells per square mile on the surface, which is at least double the optimum density in other plays [Relation] cause [Effect] there are still enough undrilled well locations in the basin to keep the E&amp;P industry busy for decades",
    "valid": false
  },
  {
    "input": "We believe margins should also benefit from better growth over time, but the impact will be more modest, given the limited fixed costs in the business model.",
    "output": "[Cause] limited fixed costs in the business model [Relation] cause [Effect] more modest impact on margins",
    "gold": "[Cause] the limited fixed costs in the business model [Relation] cause [Effect] the impact will be more modest",
    "valid": false
  },
  {
    "input": "Further, we expect Airbnb to lower marketing expense to 22% of revenue in 2030 from 34% in 2019 (2019 was a heavier investment year, with 2018 marketing costs at 30% of sales), as the company benefits from strong global awareness and a more complete platform offering long term.",
    "output": "[Cause] strong global awareness and a more complete platform offering long term. [Relation] enable, cause [Effect] Airbnb to lower marketing expense to 22% of revenue in 2030 from 34% in 2019.",
    "gold": "[Cause] he company benefits from strong global awareness and a more complete platform offering long term [Relation] cause [Effect] Airbnb to lower marketing expense to 22% of revenue in 2030 from 34% in 2019 (2019 was a heavier investment year, with 2018 marketing costs at 30% of sales)",
    "valid": false
  },
  {
    "input": "Nonresidential construction is the most important driver in the category, as spending is more material-intensive per dollar than residential construction.",
    "output": "[Cause] spending is more material-intensive per dollar than residential construction [Relation] cause [Effect] Nonresidential construction is the most important driver in the category",
    "gold": "[Cause] spending is more material-intensive per dollar than residential construction [Relation] cause [Effect] Nonresidential construction is the most important driver in the category",
    "valid": true
  },
  {
    "input": "Finally, volatility in commodity prices, specifically oil, may affect profitability if fuel prices remain inflated for an extended period (Royal hedges about half of current-year costs).",
    "output": "[Cause] volatility in commodity prices, specifically oil [Relation] cause [Effect] affect profitability if fuel prices remain inflated for an extended period",
    "gold": "[Cause] fuel prices remain inflated for an extended period [Relation] cause [Effect] affect profitability",
    "valid": false
  },
  {
    "input": "Antero's strong leverage to NGLs and condensate is rare among natural gas producers in the Northeast and enables the company to benefit more from strengthening NGL prices, driven by increasing domestic and export demand for NGLs and increasing pipeline capacity out of the Appalachia region.",
    "output": "[Cause] strong leverage to NGLs and condensate [Relation] enable [Effect] enables the company to benefit more from strengthening NGL prices",
    "gold": "[Cause] increasing domestic and export demand for NGLs and increasing pipeline capacity out of the Appalachia region [Relation] enable [Effect] strengthening NGL prices",
    "valid": false
  },
  {
    "input": "Intel's 7-nm process delay (of 6-12 months) means we likely won't see Intel chips on this process node until late 2022 at the earliest.",
    "output": "[Cause] Intel's 7-nm process delay (of 6-12 months) [Relation] cause [Effect] we likely won't see Intel chips on this process node until late 2022 at the earliest",
    "gold": "[Cause] Intel's 7-nm process delay (of 6-12 months) [Relation] cause [Effect] we likely won't see Intel chips on this process node until late 2022 at the earliest",
    "valid": true
  },
  {
    "input": "While acquisitions allow Sensata to enter new, high-growth markets, a consolidating marketplace could cause Sensata to be outbid for, or overpay for, targets, diluting firm value.",
    "output": "[Cause] acquisitions allow Sensata to enter new, high-growth markets [Relation] enable [Effect] a consolidating marketplace could cause Sensata to be outbid for, or overpay for, targets, diluting firm value",
    "gold": "[Cause] acquisitions [Relation] enable [Effect] Sensata to enter new, high-growth markets",
    "valid": false
  },
  {
    "input": "While acquisitions allow Sensata to enter new, high-growth markets, a consolidating marketplace could cause Sensata to be outbid for, or overpay for, targets, diluting firm value.",
    "output": "[Cause] acquisitions allow Sensata to enter new, high-growth markets [Relation] cause [Effect] a consolidating marketplace could cause Sensata to be outbid for, or overpay for, targets, diluting firm value",
    "gold": "[Cause] a consolidating marketplace [Relation] cause [Effect] cause Sensata to be outbid for, or overpay for, targets",
    "valid": false
  },
  {
    "input": "While acquisitions allow Sensata to enter new, high-growth markets, a consolidating marketplace could cause Sensata to be outbid for, or overpay for, targets, diluting firm value.",
    "output": "[Cause] a consolidating marketplace [Relation] cause [Effect] Sensata to be outbid for, or overpay for, targets, diluting firm value",
    "gold": "[Cause] cause Sensata to be outbid for, or overpay for, targets [Relation] cause [Effect] diluting firm value",
    "valid": false
  },
  {
    "input": "As alcohol consumption has negative public health connotations, governments sometimes use the industry as a way to raise the tax rate while incurring limited political risk.",
    "output": "[Cause] alcohol consumption has negative public health connotations [Relation] cause [Effect] governments sometimes use the industry as a way to raise the tax rate while incurring limited political risk",
    "gold": "[Cause] alcohol consumption has negative public health connotations [Relation] cause [Effect] governments sometimes use the industry as a way to raise the tax rate while incurring limited political risk",
    "valid": true
  },
  {
    "input": "Finally, the increasingly viral nature of the media creates omnipresent ESG risk in the form of potential brand degradation, which is quite acute for most corporations, in our view.",
    "output": "[Cause] the increasingly viral nature of the media [Relation] cause [Effect] omnipresent ESG risk in the form of potential brand degradation",
    "gold": "[Cause] the increasingly viral nature of the media [Relation] cause [Effect] omnipresent ESG risk in the form of potential brand degradation",
    "valid": true
  },
  {
    "input": "New product platforms such as smoothies and tea, as well as a revamped food program, have added diversity to the menu, allowing the firm to broaden its target audience, increase its average transaction size, and expand more into the lunch and evening dayparts.",
    "output": "[Cause] New product platforms such as smoothies and tea, as well as a revamped food program [Relation] enable [Effect] added diversity to the menu, broadened the firm's target audience, increased its average transaction size, and expand more into the lunch and evening dayparts",
    "gold": "[Cause] New product platforms such as smoothies and tea, as well as a revamped food program, have added diversity to the menu [Relation] enable [Effect] broaden its target audience, increase its average transaction size, and expand more into the lunch and evening dayparts",
    "valid": false
  },
  {
    "input": "Continued innovation will be key to Malibu's ability to increase pricing power; recent product offerings have helped support price increases into 2021, with overall net sales per unit up 11.1% in the company's fiscal first quarter ending September (compared with 8% for competitor Mastercraft).",
    "output": "[Cause] Continued innovation [Relation] enable [Effect] Malibu's ability to increase pricing power",
    "gold": "[Cause] recent product offerings [Relation] enable [Effect] support price increases into 2021, with overall net sales per unit up 11.1% in the company's fiscal first quarter ending September",
    "valid": false
  },
  {
    "input": "Biosimilar launches in Europe hit Roche's Rituxan and Herceptin sales by more than 40% in 2018-19, and similar declines began in the U.S.",
    "output": "[Cause] Biosimilar launches in Europe [Relation] cause [Effect] hit Roche's Rituxan and Herceptin sales by more than 40% in 2018-19",
    "gold": "[Cause] Biosimilar launches in Europe hit Roche's Rituxan and Herceptin sales by more than 40% in 2018-19 [Relation] cause [Effect] similar declines began in the U.S",
    "valid": false
  },
  {
    "input": "We expect operating margin of 12.5% by the end of our five-year forecast period, although this estimate could prove conservative if Cantel's Revox sterilization technology gets fast-tracked by the FDA and contributes to the top-line sooner than expected.",
    "output": "[Cause] Cantel's Revox sterilization technology gets fast-tracked by the FDA and contributes to the top-line sooner than expected [Relation] enable [Effect] operating margin of 12.5% by the end of our five-year forecast period",
    "gold": "[Cause] Cantel's Revox sterilization technology gets fast-tracked by the FDA and contributes to the top-line sooner than expected [Relation] cause [Effect] operating margin of 12.5% by the end of our five-year forecast period",
    "valid": true
  },
  {
    "input": "Apple's competitive advantage stems from its ability to package hardware, software, services, and third-party applications into sleek, intuitive, and appealing devices.",
    "output": "[Cause] Apple's ability to package hardware, software, services, and third-party applications into sleek, intuitive, and appealing devices [Relation] cause [Effect] Apple's competitive advantage",
    "gold": "[Cause] its ability to package hardware, software, services, and third-party applications into sleek, intuitive, and appealing devices [Relation] enable [Effect] Apple's competitive advantage",
    "valid": false
  },
  {
    "input": "However, if competition takes a greater toll than we expect on the sector, Ross could find itself with an excessively large store network and infrastructure, creating downside exposure relative to our estimates.",
    "output": "[Cause] competition takes a greater toll than expected on the sector [Relation] cause [Effect] Ross could find itself with an excessively large store network and infrastructure",
    "gold": "[Cause] competition takes a greater toll than we expect on the sector [Relation] cause [Effect] Ross could find itself with an excessively large store network and infrastructure",
    "valid": false
  },
  {
    "input": "However, if competition takes a greater toll than we expect on the sector, Ross could find itself with an excessively large store network and infrastructure, creating downside exposure relative to our estimates.",
    "output": "[Cause] competition takes a greater toll on the sector [Relation] cause [Effect] Ross could find itself with an excessively large store network and infrastructure",
    "gold": "[Cause] Ross could find itself with an excessively large store network and infrastructure [Relation] enable [Effect] downside exposure relative to our estimates",
    "valid": false
  },
  {
    "input": "We note that large RIAs typically have more than one custodian, so Envestnet's open-architecture approach is more attractive than a custodian's offering.",
    "output": "[Cause] Envestnet's open-architecture approach [Relation] enable [Effect] Envestnet's open-architecture approach is more attractive than a custodian's offering",
    "gold": "[Cause] large RIAs typically have more than one custodian [Relation] cause [Effect] Envestnet's open-architecture approach is more attractive than a custodian's offering",
    "valid": false
  },
  {
    "input": "We forecast operating income to be broadly flat over the next five years as we await the outcome of the planned merger and acquisition spending to boost the growth rate.",
    "output": "[Cause] planned merger and acquisition spending [Relation] enable [Effect] await the outcome of the planned merger and acquisition spending to boost the growth rate",
    "gold": "[Cause] We forecast operating income to be broadly flat over the next five years [Relation] enable [Effect] we await the outcome of the planned merger and acquisition spending to boost the growth rate.",
    "valid": false
  },
  {
    "input": "Customers have little incentive to switch to another equipment supplier because of the costs to retrain healthcare workers, and they can Medical Instruments & Suppliesbe reluctant to change a process that's working effectively.",
    "output": "[Cause] costs to retrain healthcare workers, reluctance to change a process that's working effectively [Relation] prevent [Effect] Customers have little incentive to switch to another equipment supplier",
    "gold": "[Cause] the costs to retrain healthcare workers, and they can Medical Instruments & Suppliesbe reluctant to change a process that's working effectively [Relation] cause [Effect] Customers have little incentive to switch to another equipment supplier",
    "valid": false
  },
  {
    "input": "We are increasing our fair value estimate to $76 from $70 per ADR after adding potential third-dose booster sales for Comirnaty/BNT162b2, the vaccine against SARS-CoV-2.",
    "output": "[Cause] adding potential third-dose booster sales for Comirnaty/BNT162b2, the vaccine against SARS-CoV-2 [Relation] cause [Effect] increasing our fair value estimate to $76 from $70 per ADR",
    "gold": "[Cause] adding potential third-dose booster sales for Comirnaty/BNT162b2, the vaccine against SARS-CoV-2 [Relation] enable [Effect] increasing our fair value estimate to $76 from $70 per ADR",
    "valid": true
  },
  {
    "input": "In a housing downturn, the company could see a combination of increased holding costs and interest expenses cause significant stress on its financial results.",
    "output": "[Cause] a housing downturn [Relation] cause [Effect] combination of increased holding costs and interest expenses cause significant stress on its financial results",
    "gold": "[Cause] a combination of increased holding costs and interest expenses [Relation] cause [Effect] significant stress on its financial results",
    "valid": false
  },
  {
    "input": "While still small today, such startups have the potential to increase the degree of competition in the payroll/HCM space and make it more difficult for providers to win business.",
    "output": "[Cause] startups in the payroll/HCM space [Relation] cause [Effect] potential to increase the degree of competition",
    "gold": "[Cause] startups have the potential to increase the degree of competition in the payroll/HCM space [Relation] enable [Effect] more difficult for providers to win business",
    "valid": false
  },
  {
    "input": "While Post is the #1 provider of eggs and potatoes to the food-service industry, the commoditized nature of these products makes it very difficult for Post to differentiate their offerings.",
    "output": "[Cause] the commoditized nature of eggs and potatoes [Relation] cause [Effect] makes it very difficult for Post to differentiate their offerings",
    "gold": "[Cause] the commoditized nature of these products [Relation] enable [Effect] difficult for Post to differentiate their offerings",
    "valid": false
  },
  {
    "input": "The unique mechanism of these therapies, where additional molecules can result in a new, more efficacious therapy, serves as a competitive advantage for Vertex because it entrenches the therapies in cystic fibrosis treatment and lengthens the period of patent protection.",
    "output": "[Cause] The unique mechanism of these therapies, where additional molecules can result in a new, more efficacious therapy [Relation] enable [Effect] serves as a competitive advantage for Vertex",
    "gold": "[Cause] it entrenches the therapies in cystic fibrosis treatment and lengthens the period of patent protection [Relation] cause [Effect] The unique mechanism of these therapies, where additional molecules can result in a new, more efficacious therapy, serves as a competitive advantage for Vertex",
    "valid": false
  },
  {
    "input": "Given the uncertain extent and duration of COVID-19 and the pronounced retreat we've already seen in global travel demand, we estimate Las Vegas Sands' total 2020 revenue declining 72% (60% drop prior).",
    "output": "[Cause] uncertain extent and duration of COVID-19 and pronounced retreat in global travel demand [Relation] cause [Effect] Las Vegas Sands' total 2020 revenue declining 72% (60% drop prior)",
    "gold": "[Cause] the uncertain extent and duration of COVID-19 and the pronounced retreat we've already seen in global travel demand [Relation] cause [Effect] Las Vegas Sands' total 2020 revenue declining 72%",
    "valid": false
  },
  {
    "input": "We think the firm's growth driver will be its enterprise visibility and mobility segment, which we forecast to grow at a rate of 7% following 2020 as it continues to make up a larger portion of the overall top line.",
    "output": "[Cause] enterprise visibility and mobility segment continues to make up a larger portion of the overall top line [Relation] cause [Effect] forecast growth rate of 7% following 2020",
    "gold": "[Cause] its enterprise visibility and mobility segment [Relation] enable [Effect] the firm's growth driver",
    "valid": false
  },
  {
    "input": "We think the firm's growth driver will be its enterprise visibility and mobility segment, which we forecast to grow at a rate of 7% following 2020 as it continues to make up a larger portion of the overall top line.",
    "output": "[Cause] enterprise visibility and mobility segment continues to make up a larger portion of the overall top line [Relation] enable [Effect] forecasted growth rate of 7% following 2020",
    "gold": "[Cause] it continues to make up a larger portion of the overall top line [Relation] cause [Effect] we forecast to grow at a rate of 7% following 2020",
    "valid": false
  },
  {
    "input": "However, BAT's acquisition of Reynolds American has materially lowered its return on invested capital generation, and we expect the spreads over the company's weighted average cost of capital to remain very thin.",
    "output": "[Cause] BAT's acquisition of Reynolds American [Relation] cause [Effect] materially lowered its return on invested capital generation",
    "gold": "[Cause] BAT's acquisition of Reynolds American has materially lowered its return on invested capital generation [Relation] cause [Effect] the spreads over the company's weighted average cost of capital to remain very thin",
    "valid": false
  },
  {
    "input": "In its salt operations, climate change could cause a permanent drop in deicing salt demand due to a reduction in snowfall from warmer winter temperatures as warmer climates shift north over time.",
    "output": "[Cause] climate change could cause a permanent drop in deicing salt demand due to a reduction in snowfall from warmer winter temperatures as warmer climates shift north over time [Relation] cause [Effect] impact on deicing salt demand in salt operations",
    "gold": "[Cause] climate change [Relation] prevent [Effect] permanent drop in deicing salt demand",
    "valid": false
  },
  {
    "input": "In its salt operations, climate change could cause a permanent drop in deicing salt demand due to a reduction in snowfall from warmer winter temperatures as warmer climates shift north over time.",
    "output": "[Cause] climate change [Relation] cause [Effect] a permanent drop in deicing salt demand due to a reduction in snowfall",
    "gold": "[Cause] over time [Relation] cause [Effect] a reduction in snowfall from warmer winter temperatures as warmer climates shift nort",
    "valid": false
  },
  {
    "input": "In its salt operations, climate change could cause a permanent drop in deicing salt demand due to a reduction in snowfall from warmer winter temperatures as warmer climates shift north over time.",
    "output": "[Cause] climate change [Relation] cause [Effect] permanent drop in deicing salt demand",
    "gold": "[Cause] reduction in snowfall from warmer winter temperatures [Relation] cause [Effect] warmer climates shift north over time",
    "valid": false
  },
  {
    "input": "In the last few years, ConocoPhillips has reshaped its portfolio by selling higher-cost, lower-return assets including natural gas production in the U.S.",
    "output": "[Cause] selling higher-cost, lower-return assets including natural gas production in the U.S. [Relation] cause [Effect] ConocoPhillips has reshaped its portfolio",
    "gold": "[Cause] selling higher-cost, lower-return assets including natural gas production in the U.S. [Relation] enable [Effect] ConocoPhillips has reshaped its portfolio",
    "valid": true
  },
  {
    "input": "Many of these consumers generally watch less live television than previous generations and are more likely to using ad-blocking software when using the Internet. Thus, the almost 35,000 events that Live Nation held in 2018 were likely among the most effective methods of reaching many of these young consumers.",
    "output": "[Cause] Many of these consumers generally watch less live television than previous generations and are more likely to be using ad-blocking software when using the Internet [Relation] enable [Effect] the almost 35,000 events that Live Nation held in 2018 were likely among the most effective methods of reaching many of these young consumers",
    "gold": "[Cause] Many of these consumers generally watch less live television than previous generations and are more likely to using ad-blocking software when using the Internet [Relation] cause [Effect] the almost 35,000 events that Live Nation held in 2018 were likely among the most effective methods of reaching many of these young consumers",
    "valid": false
  },
  {
    "input": "In fact, during a downturn in new vehicle sales, dealers generally report higher gross margins due to a favorable mix shift, but then report lower operating margins due to selling, general, and administrative deleveraging.",
    "output": "[Cause] a downturn in new vehicle sales [Relation] cause, effect [Effect] dealers generally report higher gross margins due to a favorable mix shift",
    "gold": "[Cause] a favorable mix shift [Relation] cause [Effect] dealers generally report higher gross margins",
    "valid": false
  },
  {
    "input": "In fact, during a downturn in new vehicle sales, dealers generally report higher gross margins due to a favorable mix shift, but then report lower operating margins due to selling, general, and administrative deleveraging.",
    "output": "[Cause] a downturn in new vehicle sales [Relation] cause, cause [Effect] dealers generally report higher gross margins due to a favorable mix shift",
    "gold": "[Cause] selling, general, and administrative deleveraging [Relation] cause [Effect] lower operating margins",
    "valid": false
  },
  {
    "input": "A similar dynamic prevails in aluminum cans, which has seen increased manufacturer demand not only due to category dynamics, but also because the recycling infrastructure supporting a circular ecosystem is more robust for this packaging.",
    "output": "[Cause] the recycling infrastructure supporting a circular ecosystem is more robust for aluminum cans [Relation] enable [Effect] increased manufacturer demand for aluminum cans",
    "gold": "[Cause] category dynamics, but also because the recycling infrastructure supporting a circular ecosystem is more robust for this packaging [Relation] cause [Effect] A similar dynamic prevails in aluminum cans",
    "valid": false
  },
  {
    "input": "The supply chain for boats tends to be somewhat fragile as well, relying on parts from multiple vendors (though Malibu has worked to mitigate some of that risk through vertical integration), which could cause the company to fail to reach full production capacity and shipments.",
    "output": "[Cause] relying on parts from multiple vendors [Relation] cause [Effect] the supply chain for boats tends to be somewhat fragile",
    "gold": "[Cause] The supply chain for boats tends to be somewhat fragile [Relation] cause [Effect] the company to fail to reach full production capacity and shipments",
    "valid": false
  },
  {
    "input": "Regarding the retail point of sale products, our opinion is that HP's market share gain in early fiscal 2018 will be difficult to sustain due to competitor offerings and a pessimistic outlook on the brick-and-mortar retail environment.",
    "output": "[Cause] competitor offerings and a pessimistic outlook on the brick-and-mortar retail environment [Relation] prevent [Effect] HP's market share gain in early fiscal 2018 will be difficult to sustain",
    "gold": "[Cause] competitor offerings and a pessimistic outlook on the brick-and-mortar retail environment [Relation] cause [Effect] HP's market share gain in early fiscal 2018 will be difficult to sustain",
    "valid": true
  },
  {
    "input": "Furthermore, EMR systems are long-term investments, and stronger systems are less likely to switch to a weaker and smaller HCIT provider with limited if any incremental value adds from their current solutions. Therefore, substantial financial and time risks exist for providers to switch from stable platforms, especially in a mature and sticky hospital EMR market.",
    "output": "[Cause] strong systems are less likely to switch to a weaker and smaller HCIT provider with limited if any incremental value adds from their current solutions [Relation] prevent [Effect] substantial financial and time risks exist for providers to switch from stable platforms, especially in a mature and sticky hospital EMR market",
    "gold": "[Cause] EMR systems are long-term investments, and stronger systems are less likely to switch to a weaker and smaller HCIT provider with limited if any incremental value adds from their current solutions [Relation] cause [Effect] substantial financial and time risks exist for providers to switch from stable platforms, especially in a mature and sticky hospital EMR market",
    "valid": false
  },
  {
    "input": "With appeal to a wide variety of consumers, we anticipate the concept should translate well to new markets as the chain grows toward its 2,500-unit target (from 1,020 at the end of fiscal 2020).",
    "output": "[Cause] the concept appeals to a wide variety of consumers [Relation] enable [Effect] the chain grows toward its 2,500-unit target (from 1,020 at the end of fiscal 2020)",
    "gold": "[Cause] appeal to a wide variety of consumers [Relation] cause [Effect] we anticipate the concept should translate well to new markets as the chain grows toward its 2,500-unit target (from 1,020 at the end of fiscal 2020)",
    "valid": false
  },
  {
    "input": "Lyft's number of riders has increased since 2016, driven mainly by increased adoption of overall ride-sharing services plus Lyft's gradual expansion in other markets mainly in the U.S.",
    "output": "[Cause] increased adoption of overall ride-sharing services plus Lyft's gradual expansion in other markets mainly in the U.S. [Relation] cause [Effect] Lyft's number of riders has increased since 2016",
    "gold": "[Cause] driven mainly by increased adoption of overall ride-sharing services plus Lyft's gradual expansion in other markets mainly in the U.S [Relation] cause [Effect] Lyft's number of riders has increased since 2016",
    "valid": false
  },
  {
    "input": "Although we recognize that e-commerce sales spiked in 2020 in response to social distancing mandates, we do not think online sales will continue to grow at the same cadence and could give up some ground once consumers are more comfortable venturing outside the home to a greater extent.",
    "output": "[Cause] e-commerce sales spiked in 2020 in response to social distancing mandates [Relation] cause [Effect] we do not think online sales will continue to grow at the same cadence and could give up some ground once consumers are more comfortable venturing outside the home to a greater extent",
    "gold": "[Cause] social distancing mandates [Relation] enable [Effect] e-commerce sales spiked in 2020",
    "valid": false
  },
  {
    "input": "Although we recognize that e-commerce sales spiked in 2020 in response to social distancing mandates, we do not think online sales will continue to grow at the same cadence and could give up some ground once consumers are more comfortable venturing outside the home to a greater extent.",
    "output": "[Cause] e-commerce sales spiked in 2020 in response to social distancing mandates [Relation] cause [Effect] online sales will continue to grow at the same cadence and could give up some ground once consumers are more comfortable venturing outside the home to a greater extent",
    "gold": "[Cause] consumers are more comfortable venturing outside the home to a greater extent [Relation] prevent [Effect] online sales will continue to grow at the same cadence",
    "valid": false
  },
  {
    "input": "While uneven macro trends, increased competition, evolving consumer preferences, and the impact of coronavirus could change future consumer behavior, we remain optimistic about Yum China's longer-term opportunities, given a still-fragmented restaurant industry, a growing Chinese middle class, ongoing urbanization trends, and the market becoming increasingly conducive to franchising.",
    "output": "[Cause] uneven macro trends, increased competition, evolving consumer preferences, and the impact of coronavirus [Relation] cause [Effect] could change future consumer behavior",
    "gold": "[Cause] a still-fragmented restaurant industry, a growing Chinese middle class, ongoing urbanization trends, and the market becoming increasingly conducive to franchising [Relation] cause [Effect] we remain optimistic about Yum China's longer-term opportunities",
    "valid": false
  },
  {
    "input": "While there are new entrants in both the PLM and midmarket CAD spaces, we think that Dassault Systemes will be able to work to minimize any additional share new players would take in its markets by increasing its adoption of its 3DExperience platform.",
    "output": "[Cause] increasing its adoption of its 3DExperience platform [Relation] enable [Effect] Dassault Systemes will be able to work to minimize any additional share new players would take in its markets",
    "gold": "[Cause] increasing its adoption of its 3DExperience platform [Relation] enable [Effect] Dassault Systemes will be able to work to minimize any additional share new players would take in its markets",
    "valid": true
  },
  {
    "input": "We expect falling production costs and higher adoption rates to catalyze RFID sales growth for Avery throughout our forecast period.",
    "output": "[Cause] falling production costs and higher adoption rates [Relation] cause [Effect] catalyze RFID sales growth for Avery throughout our forecast period",
    "gold": "[Cause] Avery throughout our forecast period [Relation] enable [Effect] falling production costs and higher adoption rates to catalyze RFID sales growth",
    "valid": false
  },
  {
    "input": "If there is a significant data breach or if Verisign fails to comply with the terms of the contract, ICANN has the right to put the contracts up for bid, raising the possibility of Verisign losing its exclusive right to the TLDs, which would be catastrophic for the company.",
    "output": "[Cause] significant data breach or if Verisign fails to comply with the terms of the contract [Relation] cause->effect [Effect] ICANN has the right to put the contracts up for bid, raising the possibility of Verisign losing its exclusive right to the TLDs",
    "gold": "[Cause] ICANN has the right to put the contracts up for bid [Relation] cause [Effect] raising the possibility of Verisign losing its exclusive right to the TLDs",
    "valid": false
  },
  {
    "input": "Given its plentiful lot supply, the company has shifted to a lighter land acquisition strategy, which seeks to reduce the amount of capital tied up in land.",
    "output": "[Cause] plentiful lot supply [Relation] enable [Effect] company has shifted to a lighter land acquisition strategy",
    "gold": "[Cause] the company has shifted to a lighter land acquisition strategy [Relation] prevent [Effect] amount of capital tied up in land",
    "valid": false
  },
  {
    "input": "Demand for these types of assets will remain strong as patients seek the best treatments from the top health systems, driving consistent patient volumes to their affiliated assets and thus increasing the rents that can be charged to doctor's groups that want to service these patients.",
    "output": "[Cause] patients seek the best treatments from the top health systems [Relation] cause [Effect] Demand for these types of assets will remain strong",
    "gold": "[Cause] assets will remain strong as patients seek the best treatments from the top health systems [Relation] cause [Effect] increasing the rents that can be charged to doctor's groups that want to service these patients",
    "valid": false
  },
  {
    "input": "We are decreasing our fair value estimate for Kilroy Realty to $61 per share from $65 since we now expect the San Francisco submarket to be more acutely impacted by occupancy declines due to the coronavirus pandemic.",
    "output": "[Cause] expecting the San Francisco submarket to be more acutely impacted by occupancy declines due to the coronavirus pandemic [Relation] cause [Effect] decreasing the fair value estimate for Kilroy Realty to $61 per share from $65",
    "gold": "[Cause] the coronavirus pandemic [Relation] cause [Effect] the San Francisco submarket to be more acutely impacted by occupancy declines",
    "valid": false
  },
  {
    "input": "Shorter berthing and loading times allow the company to reduce costs and help Schnitzer make deliveries more quickly than its peers, which is a key value proposition in securing and retaining business.",
    "output": "[Cause] Shorter berthing and loading times [Relation] enable [Effect] the company to reduce costs and help Schnitzer make deliveries more quickly than its peers",
    "gold": "[Cause] reduce costs and help Schnitzer make deliveries more quickly than its peers [Relation] enable [Effect] a key value proposition in securing and retaining business",
    "valid": false
  },
  {
    "input": "As China shifts its focus away from subsidizing the industrial sectors toward encouraging private consumption and reducing pollution, reforms should allow prices to move more closely with international benchmarks.",
    "output": "[Cause] China shifts its focus away from subsidizing the industrial sectors toward encouraging private consumption and reducing pollution [Relation] enable [Effect] reforms should allow prices to move more closely with international benchmarks",
    "gold": "[Cause] China shifts its focus away from subsidizing the industrial sectors toward encouraging private consumption and reducing pollution [Relation] enable [Effect] reforms should allow prices to move more closely with international benchmarks",
    "valid": true
  },
  {
    "input": "In connected care we assume slower growth in monitoring and analytics, offset by higher growth in sleep and respiratory care.",
    "output": "[Cause] slower growth in monitoring and analytics [Relation] offset [Effect] higher growth in sleep and respiratory care",
    "gold": "[Cause] higher growth in sleep and respiratory care [Relation] prevent [Effect] slower growth in monitoring and analytics",
    "valid": false
  },
  {
    "input": "After digesting PFG's fiscal second-quarter earnings, we're increasing our fair value estimate to $34 from $32.50 as bad debt expense is coming in much more favorably than we expected, causing us to lower our bad debt expense estimate to $45 million from $230 million previously.",
    "output": "[Cause] bad debt expense is coming in much more favorably than we expected [Relation] cause [Effect] increasing our fair value estimate to $34 from $32.50",
    "gold": "[Cause] bad debt expense is coming in much more favorably [Relation] cause [Effect] us to lower our bad debt expense estimate",
    "valid": false
  },
  {
    "input": "If there are any doubts over the financial strength of the parent bank, clients of the asset manager will withdraw their funds.",
    "output": "[Cause] doubts over the financial strength of the parent bank [Relation] cause [Effect] clients of the asset manager will withdraw their funds",
    "gold": "[Cause] doubts over the financial strength of the parent bank [Relation] enable [Effect] clients of the asset manager will withdraw their funds",
    "valid": true
  },
  {
    "input": "Further, we note that Hess' geographic diversification could mitigate regulatory risk in the U.S., at least.",
    "output": "[Cause] Hess' geographic diversification [Relation] mitigate [Effect] mitigate regulatory risk in the U.S.",
    "gold": "[Cause] Hess' geographic diversification [Relation] enable [Effect] mitigate regulatory risk in the U.S.",
    "valid": true
  },
  {
    "input": "RH's prior reorganization helped untie significant capital, as the firm moved to a sale-leaseback model on new projects, implemented reverse logistics to liquidate product, and adjusted the distribution center footprint, which led to inventory that fell 28% between 2016-20 (on 33% sales growth over the same period).",
    "output": "[Cause] RH's prior reorganization - sale-leaseback model on new projects, implemented reverse logistics, adjusted distribution center footprint [Relation] enable [Effect] untied significant capital, inventory fell 28%",
    "gold": "[Cause] the firm moved to a sale-leaseback model on new projects, implemented reverse logistics to liquidate product, and adjusted the distribution center footprint [Relation] cause [Effect] RH's prior reorganization helped untie significant capital",
    "valid": false
  },
  {
    "input": "RH's prior reorganization helped untie significant capital, as the firm moved to a sale-leaseback model on new projects, implemented reverse logistics to liquidate product, and adjusted the distribution center footprint, which led to inventory that fell 28% between 2016-20 (on 33% sales growth over the same period).",
    "output": "[Cause] RH's prior reorganization (moved to a sale-leaseback model on new projects, implemented reverse logistics to liquidate product, and adjusted the distribution center footprint) [Relation] cause [Effect] untie significant capital, led to inventory that fell 28% between 2016-20 (on 33% sales growth over the same period)",
    "gold": "[Cause] RH's prior reorganization helped untie significant capital [Relation] cause [Effect] inventory that fell 28% between 2016-20 (on 33% sales growth over the same period)",
    "valid": false
  },
  {
    "input": "While many companies could still find it worthwhile to move to other cloud providers, like AWS, we think IBM's typical customer is extremely sensitive to such change given the mission criticality of the data stored--such as banking data.",
    "output": "[Cause] mission criticality of the data stored--such as banking data [Relation] cause [Effect] IBM's typical customer is extremely sensitive to such change",
    "gold": "[Cause] the mission criticality of the data stored [Relation] cause [Effect] IBM's typical customer is extremely sensitive to such change",
    "valid": false
  },
  {
    "input": "In our explicit forecast period, we assume that Coloplast's ostomy and continence care segments outpace market growth at 8% and 7% annually, respectively, as the firm rolls out new products, reimbursement policies for supplies remain stable, and intensifies efforts to cross-sell and infiltrate emerging markets.",
    "output": "[Cause] the firm rolls out new products, reimbursement policies for supplies remain stable, and intensifies efforts to cross-sell and infiltrate emerging markets [Relation] enable [Effect] ostomy and continence care segments outpace market growth at 8% and 7% annually, respectively",
    "gold": "[Cause] the firm rolls out new products, reimbursement policies for supplies remain stable, and intensifies efforts to cross-sell and infiltrate emerging markets [Relation] cause [Effect] Coloplast's ostomy and continence care segments outpace market growth",
    "valid": false
  },
  {
    "input": "Though Brazil was able to pass its pension reform last fall, we're not convinced this will return the country to growth in the short term, with fiscal austerity and lower public spending likely required to pare down the large debt burden Brazil carries.",
    "output": "[Cause] fiscal austerity and lower public spending likely required to pare down the large debt burden Brazil carries [Relation] cause [Effect] we're not convinced this will return the country to growth in the short term",
    "gold": "[Cause] fiscal austerity and lower public spending likely required to pare down the large debt burden Brazil carries [Relation] cause [Effect] we're not convinced this will return the country to growth in the short term",
    "valid": true
  },
  {
    "input": "Although patents are not essential for maintaining a product in the animal health industry, at least 20% of the firm's revenue comes from products protected by patents that allow Zoetis to charge a premium price and insulate it from competition.",
    "output": "[Cause] products protected by patents [Relation] enable [Effect] Zoetis is able to charge a premium price and insulate from competition",
    "gold": "[Cause] at least 20% of the firm's revenue comes from products protected by patents [Relation] cause [Effect] Zoetis to charge a premium price and insulate it from competition",
    "valid": false
  },
  {
    "input": "Domain expertise in software for pharma and biotech companies has proven to be a powerful barrier to entry, and as the first mover in this space, Veeva has a built-in structural advantage when it comes to sales & marketing costs compared with other verticals.",
    "output": "[Cause] Domain expertise in software for pharma and biotech companies [Relation] enable [Effect] proven to be a powerful barrier to entry",
    "gold": "[Cause] the first mover in this space [Relation] cause [Effect] Veeva has a built-in structural advantage",
    "valid": false
  },
  {
    "input": "We expect this metric will normalize as the company's penetration reaches critical mass and top-line growth begins to slow from a startup cadence, while the increasing magnitude of negative working capital skews the metric, making it less relevant than for other home furnishing retailers.",
    "output": "[Cause] the company's penetration reaches critical mass and top-line growth begins to slow [Relation] cause [Effect] the metric will normalize",
    "gold": "[Cause] the company's penetration reaches critical mass [Relation] enable [Effect] this metric will normalize",
    "valid": false
  },
  {
    "input": "We expect this metric will normalize as the company's penetration reaches critical mass and top-line growth begins to slow from a startup cadence, while the increasing magnitude of negative working capital skews the metric, making it less relevant than for other home furnishing retailers.",
    "output": "[Cause] the company's penetration reaches critical mass and top-line growth begins to slow from a startup cadence [Relation] cause [Effect] the increasing magnitude of negative working capital skews the metric, making it less relevant than for other home furnishing retailers.",
    "gold": "[Cause] top-line growth begins to slow from a startup cadence, [Relation] enable [Effect] this metric will normalize",
    "valid": false
  },
  {
    "input": "We expect this metric will normalize as the company's penetration reaches critical mass and top-line growth begins to slow from a startup cadence, while the increasing magnitude of negative working capital skews the metric, making it less relevant than for other home furnishing retailers.",
    "output": "[Cause] the company's penetration reaches critical mass and top-line growth begins to slow from a startup cadence, while the increasing magnitude of negative working capital skews the metric [Relation] cause [Effect] the metric will normalize and become less relevant than for other home furnishing retailers",
    "gold": "[Cause] the increasing magnitude of negative working capital skews the metric [Relation] enable [Effect] it less relevant than for other home furnishing retailers",
    "valid": false
  },
  {
    "input": "Thus, even if the barcode print stock itself is relatively cheap (generally a fraction of a cent) the reliable and consistent operation of the barcode printer itself is essential, which has allowed Zebra to incrementally increase its gross margins for barcode printers over time.",
    "output": "[Cause] reliable and consistent operation of the barcode printer [Relation] enable [Effect] Zebra incrementally increase its gross margins for barcode printers over time",
    "gold": "[Cause] the reliable and consistent operation of the barcode printer itself [Relation] enable [Effect] to incrementally increase its gross margins for barcode printers over time",
    "valid": false
  },
  {
    "input": "From an operational standpoint, we forecast that Truist will have an efficiency ratio in the low-50s. This will be driven by BB&T's historically good operating efficiency as well as the material cost savings we see coming from the merger.",
    "output": "[Cause] BB&T's historically good operating efficiency, material cost savings from the merger [Relation] enable [Effect] Truist will have an efficiency ratio in the low-50s",
    "gold": "[Cause] BB&T's historically good operating efficiency as well as the material cost savings we see coming from the merger [Relation] enable [Effect] From an operational standpoint, we forecast that Truist will have an efficiency ratio in the low-50s",
    "valid": false
  },
  {
    "input": "In our base case, we assume revenue grows quickly in the near-term due to a buoyant market and recent acquisitions, and slows gradually in later years.",
    "output": "[Cause] a buoyant market and recent acquisitions [Relation] enable [Effect] revenue grows quickly in the near-term",
    "gold": "[Cause] a buoyant market and recent acquisitions [Relation] cause [Effect] revenue grows quickly in the near-term",
    "valid": true
  },
  {
    "input": "In our base case, we assume revenue grows quickly in the near-term due to a buoyant market and recent acquisitions, and slows gradually in later years.",
    "output": "[Cause] a buoyant market and recent acquisitions [Relation] cause [Effect] revenue grows quickly in the near-term",
    "gold": "[Cause] a buoyant market and recent acquisitions [Relation] cause [Effect] slows gradually in later years",
    "valid": false
  },
  {
    "input": "However, over the next few years, we think growth in the pork segment will exceed long-term averages, due to higher prices and strong export demand given the global pork shortage resulting from African swine fever.",
    "output": "[Cause] global pork shortage resulting from African swine fever [Relation] cause [Effect] higher prices and strong export demand",
    "gold": "[Cause] African swine fever [Relation] cause [Effect] global pork shortage",
    "valid": false
  },
  {
    "input": "However, over the next few years, we think growth in the pork segment will exceed long-term averages, due to higher prices and strong export demand given the global pork shortage resulting from African swine fever.",
    "output": "[Cause] global pork shortage resulting from African swine fever [Relation] cause [Effect] growth in the pork segment will exceed long-term averages",
    "gold": "[Cause] higher prices and strong export demand [Relation] enable [Effect] growth in the pork segment will exceed long-term averages",
    "valid": false
  },
  {
    "input": "However, owing to long-term contracts struck with utilities before the post-2003 surge in uranium prices, the company has been unable to fully capture the economic benefits due its cost profile.",
    "output": "[Cause] long-term contracts struck with utilities before the post-2003 surge in uranium prices [Relation] prevent [Effect] the company has been unable to fully capture the economic benefits due its cost profile",
    "gold": "[Cause] long-term contracts struck with utilities before the post-2003 surge in uranium prices [Relation] cause [Effect] the company has been unable to fully capture the economic benefits due its cost profile",
    "valid": true
  },
  {
    "input": "Structurally lower earnings with the demise of the China boom peaks means we expect midcycle returns on adjusted invested capital, after adding back the impairments and write-downs, to be below the cost of capital.",
    "output": "[Cause] the demise of the China boom peaks [Relation] cause [Effect] Structurally lower earnings",
    "gold": "[Cause] Structurally lower earnings with the demise of the China boom peaks [Relation] cause [Effect] we expect midcycle returns on adjusted invested capital",
    "valid": false
  },
  {
    "input": "Additionally, 95% of African mobile users are prepaid, which results in higher churn rates as switching costs for customers are low.",
    "output": "[Cause] 95% of African mobile users are prepaid [Relation] cause [Effect] higher churn rates",
    "gold": "[Cause] 95% of African mobile users are prepaid [Relation] cause [Effect] higher churn rates",
    "valid": true
  },
  {
    "input": "Additionally, 95% of African mobile users are prepaid, which results in higher churn rates as switching costs for customers are low.",
    "output": "[Cause] 95% of African mobile users are prepaid [Relation] cause [Effect] higher churn rates",
    "gold": "[Cause] switching costs for customers are low [Relation] cause [Effect] higher churn rates",
    "valid": false
  },
  {
    "input": "We think there's opportunities to invest more behind DJ Basin assets, as the Permian assets may struggle a bit more over the next few years with tougher pipe-on-pipe competition due to a well-supplied pipeline network.",
    "output": "[Cause] tougher pipe-on-pipe competition due to a well-supplied pipeline network [Relation] cause [Effect] Permian assets may struggle a bit more over the next few years",
    "gold": "[Cause] as the Permian assets may struggle a bit more over the next few years with tougher pipe-on-pipe competition due to a well-supplied pipeline network [Relation] enable [Effect] We think there's opportunities to invest more behind DJ Basin assets",
    "valid": false
  },
  {
    "input": "Chevron's profits and cash flow are largely tied to oil and gas production and could suffer as a result of a significant fall in prices.",
    "output": "[Cause] a significant fall in prices [Relation] cause [Effect] Chevron's profits and cash flow could suffer",
    "gold": "[Cause] a significant fall in prices [Relation] cause [Effect] Chevron's profits and cash flow are largely tied to oil and gas production and could suffer",
    "valid": false
  },
  {
    "input": "Once these assets are successfully sold, we expect the company to be a net acquirer of real estate as it finds attractive opportunities in its target markets across the West Coast.",
    "output": "[Cause] successful sale of assets [Relation] enable [Effect] the company to be a net acquirer of real estate",
    "gold": "[Cause] it finds attractive opportunities in its target markets [Relation] cause [Effect] the company to be a net acquirer of real estate",
    "valid": false
  },
  {
    "input": "Although the rise of online grocery, hastened in part by the coronavirus crisis, certainly has some positive implications for the industry, it is unlikely to cause demand to explode like e-commerce did for traditional industrial space.",
    "output": "[Cause] the rise of online grocery, hastened in part by the coronavirus crisis [Relation] cause [Effect] unlikely to cause demand to explode like e-commerce did for traditional industrial space",
    "gold": "[Cause] the coronavirus crisis [Relation] cause [Effect] the rise of online grocery, hastened in part",
    "valid": false
  },
  {
    "input": "Although the rise of online grocery, hastened in part by the coronavirus crisis, certainly has some positive implications for the industry, it is unlikely to cause demand to explode like e-commerce did for traditional industrial space.",
    "output": "[Cause] the rise of online grocery, hastened in part by the coronavirus crisis [Relation] cause [Effect] unlikely to cause demand to explode like e-commerce did for traditional industrial space",
    "gold": "[Cause] the rise of online grocery, hastened in part [Relation] enable [Effect] some positive implications for the industry",
    "valid": false
  },
  {
    "input": "As millennials ascend age and income demographic segments, upgrading their living arrangements or purchasing a new home, the company can move to market higher-ticket and age-appropriate Pottery Barn and Williams-Sonoma products to the right consumer.",
    "output": "[Cause] millennials ascend age and income demographic segments, upgrading their living arrangements or purchasing a new home [Relation] enable [Effect] the company can move to market higher-ticket and age-appropriate Pottery Barn and Williams-Sonoma products to the right consumer",
    "gold": "[Cause] millennials ascend age and income demographic segments, upgrading their living arrangements or purchasing a new home [Relation] enable [Effect] the company can move to market higher-ticket and age-appropriate Pottery Barn and Williams-Sonoma products to the right consumer",
    "valid": true
  },
  {
    "input": "The stringent capital requirements that the largest banks are held to give us some reassurance that these banks will be able to weather the next economic downturn.",
    "output": "[Cause] stringent capital requirements that the largest banks are held to [Relation] cause [Effect] give us some reassurance that these banks will be able to weather the next economic downturn",
    "gold": "[Cause] The stringent capital requirements that the largest banks are held to give us some reassurance [Relation] enable [Effect] these banks will be able to weather the next economic downturn.",
    "valid": false
  },
  {
    "input": "It is not completely outside the realm of possibility that a shift in competitive dynamics could force Coke to develop rationales for terminating their agreement.",
    "output": "[Cause] a shift in competitive dynamics [Relation] cause [Effect] force Coke to develop rationales for terminating their agreement",
    "gold": "[Cause] a shift in competitive dynamics [Relation] cause [Effect] force Coke to develop rationales for terminating their agreement",
    "valid": true
  },
  {
    "input": "We expect the mobile segment to grow 11%, as the decline of Candy Crush Saga is offset by growth from new King Digital properties, the reintroduction of third-party ads, and Activision/Blizzard mobile efforts.",
    "output": "[Cause] the decline of Candy Crush Saga is offset by growth from new King Digital properties, the reintroduction of third-party ads, and Activision/Blizzard mobile efforts [Relation] enable [Effect] We expect the mobile segment to grow 11%",
    "gold": "[Cause] the decline of Candy Crush Saga is offset by growth from new King Digital properties, the reintroduction of third-party ads, and Activision/Blizzard mobile efforts [Relation] cause [Effect] We expect the mobile segment to grow 11%",
    "valid": true
  },
  {
    "input": "Fee margins in wealth management should remain under pressure as competition heats up and the high transactional revenue booked during 2020 moderates.",
    "output": "[Cause] competition heating up and the high transactional revenue booked during 2020 moderates [Relation] cause [Effect] fee margins in wealth management should remain under pressure",
    "gold": "[Cause] competition heats up [Relation] cause [Effect] Fee margins in wealth management should remain under pressure",
    "valid": false
  },
  {
    "input": "Both AutoCAD and Revit are BIM software, and therefore, geometric and object information can be exported from or imported to AutoCAD and Revit programs.",
    "output": "[Cause] Both AutoCAD and Revit are BIM software [Relation] enable [Effect] geometric and object information can be exported from or imported to AutoCAD and Revit programs",
    "gold": "[Cause] Both AutoCAD and Revit are BIM software [Relation] cause [Effect] geometric and object information can be exported from or imported to AutoCAD and Revit programs",
    "valid": true
  },
  {
    "input": "The coronavirus is likely to have a severe adverse effect on its sales in fiscal 2021 as many stores have been forced to close temporarily and heavy discounting is likely.",
    "output": "[Cause] The coronavirus [Relation] cause [Effect] severe adverse effect on its sales in fiscal 2021",
    "gold": "[Cause] many stores have been forced to close temporarily and heavy discounting is likely [Relation] cause [Effect] The coronavirus is likely to have a severe adverse effect on its sales in fiscal 2021",
    "valid": false
  },
  {
    "input": "However, we believe supply chain disruptions and staffing issues due to COVID-19 will make it difficult for HEI to fully execute its utility investment plan.",
    "output": "[Cause] supply chain disruptions and staffing issues due to COVID-19 [Relation] hinder [Effect] make it difficult for HEI to fully execute its utility investment plan",
    "gold": "[Cause] COVID-19 [Relation] cause [Effect] supply chain disruptions and staffing issues",
    "valid": false
  },
  {
    "input": "SSO gives employees a single way to access all their applications, and security teams can easily scale up and down application privileges per user.",
    "output": "[Cause] SSO gives employees a single way to access all their applications [Relation] enable [Effect] security teams can easily scale up and down application privileges per user",
    "gold": "[Cause] SSO gives employees a single way to access all their applications [Relation] enable [Effect] security teams can easily scale up and down application privileges per user",
    "valid": true
  },
  {
    "input": "Additionally, Texas Instruments has revenue from other products, such as calculators, that are likely in secular decline and may weigh on the firm's total top-line growth.",
    "output": "[Cause] revenue from other products, such as calculators, that are likely in secular decline [Relation] cause [Effect] may weigh on the firm's total top-line growth",
    "gold": "[Cause] Texas Instruments has revenue from other products [Relation] cause [Effect] likely in secular decline and may weigh on the firm's total top-line growth",
    "valid": false
  },
  {
    "input": "Now we expect Insulet to move into soft launch with its own hybrid closed-loop Omnipod 5 in 2021, which will include the ability to control the pump from an Android smartphone and offer integration with Dexcom's G6 continuous glucose monitor. This puts Insulet in a strong position to compete in a field where hybrid closed-loop technology is becoming the standard.",
    "output": "[Cause] Insulet's own hybrid closed-loop Omnipod 5 including the ability to control the pump from an Android smartphone and offer integration with Dexcom's G6 continuous glucose monitor [Relation] enable [Effect] Insulet in a strong position to compete in a field where hybrid closed-loop technology is becoming the standard",
    "gold": "[Cause] Insulet to move into soft launch with its own hybrid closed-loop Omnipod 5 in 2021, which will include the ability to control the pump from an Android smartphone and offer integration with Dexcom's G6 continuous glucose monitor [Relation] enable [Effect] Insulet in a strong position to compete in a field where hybrid closed-loop technology is becoming the standard",
    "valid": false
  },
  {
    "input": "Carbon emissions regulation is increasingly a topic of discussion, but we think CNH Industrial is already hedging against this risk through the development of next generation products that reduce the carbon emissions of its products, namely its electric drivetrains.",
    "output": "[Cause] the development of next-generation products that reduce the carbon emissions of its products, namely its electric drivetrains [Relation] enable [Effect] CNH Industrial is already hedging against the risk of carbon emissions regulation",
    "gold": "[Cause] the development of next generation products that reduce the carbon emissions of its products, namely its electric drivetrains [Relation] enable [Effect] hedging against this risk",
    "valid": false
  },
  {
    "input": "An option contract strategy generally leads to lower average land inventory on the balance sheet and higher, more consistent returns on invested capital.",
    "output": "[Cause] An option contract strategy [Relation] enable [Effect] lower average land inventory on the balance sheet and higher, more consistent returns on invested capital",
    "gold": "[Cause] An option contract strategy [Relation] cause [Effect] lower average land inventory on the balance sheet and higher, more consistent returns on invested capital",
    "valid": true
  },
  {
    "input": "During this transition we anticipate the likeliness of increasing customer concentration concerns especially as it develops new functionality to sell into its existing customer base both on the payer and provider side.",
    "output": "[Cause] developing new functionality to sell into its existing customer base both on the payer and provider side [Relation] cause [Effect] the likeliness of increasing customer concentration concerns",
    "gold": "[Cause] develops new functionality to sell into its existing customer base both on the payer and provider side [Relation] enable [Effect] the likeliness of increasing customer concentration concerns",
    "valid": false
  },
  {
    "input": "Lam competes with the likes of Applied Materials and Tokyo Electron, both of which have invested heavily to improve their products in etch to lessen Lam's technological lead.",
    "output": "[Cause] Applied Materials and Tokyo Electron have invested heavily to improve their products in etch [Relation] cause [Effect] lessen Lam's technological lead",
    "gold": "[Cause] Lam competes with the likes of Applied Materials and Tokyo Electron [Relation] enable [Effect] have invested heavily to improve their products in etch to lessen Lam's technological lead",
    "valid": false
  },
  {
    "input": "If performance deteriorates or Syneos faces major changes in biopharma R&D spending, Syneos may have trouble meeting interest payments and investing in its business to sustain growth.",
    "output": "[Cause] performance deteriorates or Syneos faces major changes in biopharma R&D spending [Relation] cause [Effect] Syneos may have trouble meeting interest payments and investing in its business to sustain growth",
    "gold": "[Cause] performance deteriorates or Syneos faces major changes in biopharma R&D spending [Relation] cause [Effect] Syneos may have trouble meeting interest payments and investing in its business to sustain growth",
    "valid": true
  },
  {
    "input": "Indeed, the most significant headwind that could cause a material deterioration of earnings in the coming years would be reduced steel pricing due to an exacerbation of global overcapacity, as a function of increasing global production capacity and stagnant demand.",
    "output": "[Cause] reduced steel pricing due to an exacerbation of global overcapacity, as a function of increasing global production capacity and stagnant demand [Relation] cause [Effect] a material deterioration of earnings in the coming years",
    "gold": "[Cause] an exacerbation of global overcapacity [Relation] cause [Effect] reduced steel pricing",
    "valid": false
  },
  {
    "input": "Brand positioning makes this an elevated expenditure targeted at a young demographic, yielding risk that consumers could trade down in the economic compression aggravated by COVID-19.",
    "output": "[Cause] Brand positioning makes this an elevated expenditure targeted at a young demographic [Relation] cause [Effect] risk that consumers could trade down in the economic compression aggravated by COVID-19",
    "gold": "[Cause] Brand positioning [Relation] enable [Effect] an elevated expenditure targeted at a young demographic",
    "valid": false
  },
  {
    "input": "Brand positioning makes this an elevated expenditure targeted at a young demographic, yielding risk that consumers could trade down in the economic compression aggravated by COVID-19.",
    "output": "[Cause] Brand positioning targeted at a young demographic [Relation] cause [Effect] elevated expenditure",
    "gold": "[Cause] Brand positioning [Relation] cause [Effect] risk that consumers could trade down in the economic compression aggravated by COVID-19",
    "valid": false
  },
  {
    "input": "Costs for new transmission lines are too high and incremental benefits too low to offer sufficient returns on capital for two competing transmission owners.",
    "output": "[Cause] Costs for new transmission lines are too high and incremental benefits too low [Relation] prevent [Effect] offer sufficient returns on capital for two competing transmission owners",
    "gold": "[Cause] Costs for new transmission lines are too high and incremental benefits too low [Relation] prevent [Effect] offer sufficient returns on capital for two competing transmission owners",
    "valid": true
  },
  {
    "input": "Increased time spent on WeChat and mobile QQ has attracted third-party content creators (online games and media) and merchants, which is helping to improve and lengthen user experiences.",
    "output": "[Cause] Increased time spent on WeChat and mobile QQ [Relation] cause [Effect] has attracted third-party content creators and merchants",
    "gold": "[Cause] attracted third-party content creators (online games and media) and merchants [Relation] enable [Effect] helping to improve and lengthen user experiences",
    "valid": false
  },
  {
    "input": "A two-way network effect is evident in that brokers need trucks, while carriers need loads; the more loads and trucks posted on a network of load boards only increases the value of this service over time.",
    "output": "[Cause] brokers need trucks, while carriers need loads [Relation] create [Effect] the more loads and trucks posted on a network of load boards only increases the value of this service over time",
    "gold": "[Cause] A two-way network effect [Relation] cause [Effect] increases the value of this service over time",
    "valid": false
  },
  {
    "input": "And we think discounting was a key culprit in operating margins tumbling to just 3% in 2019 at the segment, evidencing the lack of a competitive edge.",
    "output": "[Cause] discounting [Relation] cause [Effect] operating margins tumbling to just 3% in 2019 at the segment",
    "gold": "[Cause] discounting was a key culprit in operating margins tumbling to just 3% in 2019 at the segment, [Relation] cause [Effect] evidencing the lack of a competitive edge.",
    "valid": false
  },
  {
    "input": "This leads to more collaboration and cooperation between regulators and banks as well as greater institutional memory and more coordinated and easily implemented responses if strains begin to appear in the system.",
    "output": "[Cause] more collaboration and cooperation between regulators and banks [Relation] cause [Effect] greater institutional memory and more coordinated and easily implemented responses if strains begin to appear in the system",
    "gold": "[Cause] This [Relation] cause [Effect] more collaboration and cooperation between regulators and banks as well as greater institutional memory and more coordinated and easily implemented responses if strains begin to appear in the system",
    "valid": false
  },
  {
    "input": "However, we expect operating profit to decrease at a CAGR of 4.3% from 2020 to 2025 mainly due to other steel companies that are included in the other non-parent division mitigated by an increase in profitability as a result of the growth opportunities mentioned.",
    "output": "[Cause] other steel companies that are included in the other non-parent division [Relation] mitigate | increase in profitability as a result of the growth opportunities mentioned [Effect] operating profit to decrease at a CAGR of 4.3% from 2020 to 2025",
    "gold": "[Cause] other steel companies that are included in the other non-parent division [Relation] cause [Effect] operating profit to decrease at a CAGR of 4.3% from 2020 to 2025",
    "valid": true
  },
  {
    "input": "However, we expect operating profit to decrease at a CAGR of 4.3% from 2020 to 2025 mainly due to other steel companies that are included in the other non-parent division mitigated by an increase in profitability as a result of the growth opportunities mentioned.",
    "output": "[Cause] other steel companies that are included in the other non-parent division [Relation] mitigate [Effect] operating profit to decrease at a CAGR of 4.3% from 2020 to 2025",
    "gold": "[Cause] the growth opportunities mentioned [Relation] cause [Effect] mitigated by an increase in profitability",
    "valid": false
  },
  {
    "input": "We see myriad risks on the horizon as Keurig Dr Pepper seeks to maintain and enhance its positioning in the broader beverage industry.",
    "output": "[Cause] myriad risks on the horizon [Relation] cause [Effect] Keurig Dr Pepper seeks to maintain and enhance its positioning in the broader beverage industry",
    "gold": "[Cause] Keurig Dr Pepper seeks to maintain and enhance its positioning in the broader beverage industry [Relation] cause [Effect] myriad risks",
    "valid": false
  },
  {
    "input": "More complex trials provide room for differentiation, and global CROs leverage their expertise to shorten the clinical trial time frame and ensure accuracy and precision.",
    "output": "[Cause] global CROs leverage their expertise [Relation] enable [Effect] shorten the clinical trial time frame and ensure accuracy and precision",
    "gold": "[Cause] More complex trials [Relation] cause [Effect] differentiation",
    "valid": false
  },
  {
    "input": "More complex trials provide room for differentiation, and global CROs leverage their expertise to shorten the clinical trial time frame and ensure accuracy and precision.",
    "output": "[Cause] global CROs leverage their expertise to shorten the clinical trial time frame and ensure accuracy and precision [Relation] enable [Effect] More complex trials provide room for differentiation",
    "gold": "[Cause] global CROs leverage their expertise [Relation] cause [Effect] shorten the clinical trial time frame and ensure accuracy and precision",
    "valid": false
  },
  {
    "input": "Further, fully integrated producers that make hydroxide produced from high-quality spodumene assets can produce hydroxide at a lower cost than Livent, which may result in Livent's position on the lithium hydroxide cost curve rising over time.",
    "output": "[Cause] fully integrated producers that make hydroxide produced from high-quality spodumene assets can produce hydroxide at a lower cost than Livent [Relation] cause [Effect] Livent's position on the lithium hydroxide cost curve rising over time",
    "gold": "[Cause] fully integrated producers that make hydroxide produced from high-quality spodumene assets can produce hydroxide at a lower cost than Livent [Relation] cause [Effect] Livent's position on the lithium hydroxide cost curve rising over time",
    "valid": true
  },
  {
    "input": "Pfizer's entrenched consumer and vaccine franchises create an added layer of competitive advantage, stemming from brand power in consumer healthcare and manufacturing cost advantages in the vaccines division.",
    "output": "[Cause] Pfizer's entrenched consumer and vaccine franchises [Relation] cause [Effect] create an added layer of competitive advantage",
    "gold": "[Cause] stemming from brand power in consumer healthcare and manufacturing cost advantages [Relation] cause [Effect] Pfizer's entrenched consumer and vaccine franchises create an added layer of competitive advantage",
    "valid": false
  },
  {
    "input": "Automotive parts are often complex, so many consumers depend on AutoZone's well-trained sales staff for knowledge and advice as they seek the right item for their needs.",
    "output": "[Cause] Automotive parts are often complex [Relation] cause [Effect] many consumers depend on AutoZone's well-trained sales staff for knowledge and advice as they seek the right item for their needs",
    "gold": "[Cause] Automotive parts are often complex [Relation] cause [Effect] many consumers depend on AutoZone's well-trained sales staff for knowledge and advice as they seek the right item for their needs",
    "valid": true
  },
  {
    "input": "The bank's narrow product offering focuses its assets, giving Capital One the benefit of scale in its chosen business lines. This does have the consequence of leaving the bank undiversified as it is reliant on its credit cards and auto lending business.",
    "output": "[Cause] narrow product offering focuses its assets [Relation] enable [Effect] Capital One has the benefit of scale in its chosen business lines",
    "gold": "[Cause] The bank's narrow product offering focuses its assets, giving Capital One the benefit of scale in its chosen business lines [Relation] cause [Effect] leaving the bank undiversified as it is reliant on its credit cards and auto lending business",
    "valid": false
  },
  {
    "input": "Because a DRI-based production method is undertaken at lower temperatures, production equipment is also subject to less wear and tear, thereby allowing for lower maintenance and replacement costs.",
    "output": "[Cause] a DRI-based production method is undertaken at lower temperatures [Relation] enable [Effect] production equipment is subject to less wear and tear, allowing for lower maintenance and replacement costs",
    "gold": "[Cause] a DRI-based production method is undertaken at lower temperatures [Relation] cause [Effect] production equipment is also subject to less wear and tear",
    "valid": false
  },
  {
    "input": "Because a DRI-based production method is undertaken at lower temperatures, production equipment is also subject to less wear and tear, thereby allowing for lower maintenance and replacement costs.",
    "output": "[Cause] DRI-based production method is undertaken at lower temperatures [Relation] enable [Effect] production equipment is subject to less wear and tear",
    "gold": "[Cause] production equipment is also subject to less wear and tear [Relation] cause [Effect] allowing for lower maintenance and replacement costs",
    "valid": false
  },
  {
    "input": "However, a handful of players dominates the industry, a factor that led to disciplined capacity shutdowns by all of the major companies during the industry downturn.",
    "output": "[Cause] a handful of players dominates the industry [Relation] cause [Effect] disciplined capacity shutdowns by all of the major companies during the industry downturn",
    "gold": "[Cause] a handful of players dominates the industry [Relation] cause [Effect] disciplined capacity shutdowns by all of the major companies during the industry downturn",
    "valid": true
  },
  {
    "input": "We also expect coronavirus-related restaurant disruptions and changes in consumer behavior will have a lasting impact on the industry and result in near-term operating volatility and incremental expenses.",
    "output": "[Cause] coronavirus-related restaurant disruptions and changes in consumer behavior [Relation] cause [Effect] lasting impact on the industry, near-term operating volatility, and incremental expenses",
    "gold": "[Cause] coronavirus-related restaurant disruptions and changes in consumer behavior [Relation] cause [Effect] have a lasting impact on the industry and result in near-term operating volatility and incremental expenses",
    "valid": false
  },
  {
    "input": "In addition to process development challenges (including aggressive scaling targets and new interconnect materials), the secular PC decline and relative lack of competition from AMD all contributed to Intel delaying its 10-nm process ramp, in our opinion.",
    "output": "[Cause] process development challenges (including aggressive scaling targets and new interconnect materials), secular PC decline, and relative lack of competition from AMD [Relation] contribute [Effect] Intel delaying its 10-nm process ramp",
    "gold": "[Cause] In addition to process development challenges (including aggressive scaling targets and new interconnect materials), the secular PC decline and relative lack of competition from AMD all [Relation] cause [Effect] Intel delaying its 10-nm process ramp, in our opinion",
    "valid": false
  },
  {
    "input": "For example, competitor Octapharma was forced to remove its IVIG product Octagam from the market in 2010 because of serious reported side effects.",
    "output": "[Cause] serious reported side effects [Relation] cause [Effect] competitor Octapharma was forced to remove its IVIG product Octagam from the market in 2010",
    "gold": "[Cause] serious reported side effects [Relation] cause [Effect] competitor Octapharma was forced to remove its IVIG product Octagam from the market in 2010",
    "valid": true
  },
  {
    "input": "Unlike most of the other U.S.-based asset managers we cover, we are projecting an improvement (albeit a slight one) in operating margins for BlackRock over the next five years, with the firm's margins expected to average 40%-41% on an adjusted basis (compared with 38%-39% during the past five calendar years). As such, the firm should be able to generate close to $7.0 billion in free cash flow on average annually during 2021-25, much of which will be returned to shareholders as dividends and share repurchases.",
    "output": "[Cause] projected improvement in operating margins for BlackRock over the next five years, firm's margins expected to average 40%-41% on an adjusted basis [Relation] cause [Effect] generate close to $7.0 billion in free cash flow on average annually during 2021-25",
    "gold": "[Cause] an improvement (albeit a slight one) in operating margins for BlackRock over the next five years, with the firm's margins expected to average 40%-41% on an adjusted basis (compared with 38%-39% during the past five calendar years) [Relation] cause [Effect] the firm should be able to generate close to $7.0 billion in free cash flow on average annually during 2021-25, much of which will be returned to shareholders as dividends and share repurchases",
    "valid": false
  },
  {
    "input": "We expect returns on invested capital to hover just above the firm's cost of capital after the company's Cameron LNG export project came on line.",
    "output": "[Cause] the company's Cameron LNG export project came on line [Relation] enable [Effect] returns on invested capital to hover just above the firm's cost of capital",
    "gold": "[Cause] the company's Cameron LNG export project came on line [Relation] enable [Effect] returns on invested capital to hover just above the firm's cost of capital",
    "valid": true
  },
  {
    "input": "Wesco's size is also an important competitive advantage because the company has the scale to serve large, multinational clients anywhere in the world.",
    "output": "[Cause] Wesco's size [Relation] enable [Effect] competitive advantage because the company has the scale to serve large, multinational clients anywhere in the world",
    "gold": "[Cause] the company has the scale to serve large, multinational clients anywhere in the world [Relation] cause [Effect] Wesco's size is also an important competitive advantage",
    "valid": false
  },
  {
    "input": "We expect the firm to focus on cross-selling efforts between the distinct sets of Littelfuse and IXYS customers to grow circuit protection content, and for the firm to extract market share gains in power semiconductors by targeting the industrial and charging infrastructure markets.",
    "output": "[Cause] focus on cross-selling efforts between the distinct sets of Littelfuse and IXYS customers [Relation] enable [Effect] grow circuit protection content",
    "gold": "[Cause] targeting the industrial and charging infrastructure markets [Relation] enable [Effect] the firm to extract market share gains in power semiconductors",
    "valid": false
  },
  {
    "input": "With restaurant margins accounting for differences in cost of food goods, paper products, labor, rent, utilities, and marketing expenditures, we view them as an appropriate proxy for a cost edge over peers, discouraging sustained price competition and irrational discounting, as Darden represents the low-cost operator in the space.",
    "output": "[Cause] Darden represents the low-cost operator in the space [Relation] cause [Effect] discouraging sustained price competition and irrational discounting",
    "gold": "[Cause] With restaurant margins accounting for differences in cost of food goods, paper products, labor, rent, utilities, and marketing expenditures [Relation] enable [Effect] we view them as an appropriate proxy for a cost edge over peers, discouraging sustained price competition and irrational discounting, as Darden represents the low-cost operator in the space.",
    "valid": false
  },
  {
    "input": "During our 2021-25 forecast period, we expect revenue to grow at about a 9% CAGR with strong growth in ESG and indexes.",
    "output": "[Cause] strong growth in ESG and indexes [Relation] cause [Effect] revenue to grow at about a 9% CAGR during the 2021-25 forecast period",
    "gold": "[Cause] revenue to grow at about a 9% CAGR [Relation] cause [Effect] strong growth in ESG and indexes",
    "valid": false
  },
  {
    "input": "Competition is intense, and we don't anticipate these pressures will abate, particularly if online purchasing in Kimberly's categories serves to level the playing field with less proven manufacturers.",
    "output": "[Cause] online purchasing in Kimberly's categories serves to level the playing field with less proven manufacturers [Relation] cause [Effect] Competition is intense",
    "gold": "[Cause] online purchasing in Kimberly's categories serves to level the playing field with less proven manufacturers [Relation] cause [Effect] we don't anticipate these pressures will abate",
    "valid": false
  },
  {
    "input": "Also, we expect overall operating margins will expand to 20.9% in 2025 from 19.7% in 2019 as the firm gains leverage on selling, general, and administrative as well as research and development expenses.",
    "output": "[Cause] the firm gains leverage on selling, general, and administrative as well as research and development expenses [Relation] cause [Effect] overall operating margins will expand to 20.9% in 2025 from 19.7% in 2019",
    "gold": "[Cause] overall operating margins will expand to 20.9% in 2025 from 19.7% in 2019 as the firm gains leverage on selling, general [Relation] cause [Effect] administrative as well as research and development expenses",
    "valid": false
  },
  {
    "input": "Deere offers a wide range of products that enhance fuel efficiency, specifically through its electric drivetrain offerings. These products also help the company address carbon emissions concerns; which is increasingly a point of focus for government authorities.",
    "output": "[Cause] Deere offers a wide range of products that enhance fuel efficiency, specifically through its electric drivetrain offerings [Relation] enable [Effect] help the company address carbon emissions concerns",
    "gold": "[Cause] Deere offers a wide range of products that enhance fuel efficiency, specifically through its electric drivetrain offerings [Relation] enable [Effect] the company address carbon emissions concerns; which is increasingly a point of focus for government authorities",
    "valid": false
  },
  {
    "input": "We have increased our 2020 revenue growth estimate to 42% from 32%, as early indications are than ad spending has bounced back faster from the pandemic than we had expected.",
    "output": "[Cause] early indications are that ad spending has bounced back faster from the pandemic [Relation] cause [Effect] increased 2020 revenue growth estimate to 42% from 32%",
    "gold": "[Cause] ad spending has bounced back faster from the pandemic than we had expected [Relation] cause [Effect] increased our 2020 revenue growth estimate to 42% from 32%",
    "valid": false
  },
  {
    "input": "The company is exiting construction and lump-sum engineering, procurement, and construction (including LNG) projects, which we believe will result in a less risky and more profitable portfolio.",
    "output": "[Cause] exiting construction and lump-sum engineering, procurement, and construction (including LNG) projects [Relation] cause [Effect] result in a less risky and more profitable portfolio",
    "gold": "[Cause] The company is exiting construction and lump-sum engineering [Relation] cause [Effect] result in a less risky and more profitable portfolio",
    "valid": false
  },
  {
    "input": "With the notoriously slowly moving restaurant industry forced to make widespread investments in technology in 2020, we expect \"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"omnichannel\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\" ordering capabilities to become a required offering from larger players.",
    "output": "[Cause] the notoriously slowly moving restaurant industry forced to make widespread investments in technology in 2020 [Relation] enable [Effect] \"omnichannel\" ordering capabilities to become a required offering from larger players",
    "gold": "[Cause] slowly moving restaurant industry forced to make widespread investments in technology [Relation] cause [Effect] omnichannel\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\" ordering capabilities to become a required offering from larger players",
    "valid": false
  },
  {
    "input": "In the longer term, we expect TAL Education to accelerate its growth via strong organic growth from both offline and online courses, and it is likely to gain more market shares due to its leading position in China's private after-school education market.",
    "output": "[Cause] strong organic growth from both offline and online courses [Relation] enable [Effect] TAL Education to accelerate its growth",
    "gold": "[Cause] its leading position in China's private after-school education market [Relation] cause [Effect] gain more market shares",
    "valid": false
  },
  {
    "input": "While Behr's and Home Depot's joint effort to gain professional painter market share should result in better long-term growth prospects if successful, elevated investment spending and competition from Sherwin-Williams, PPG, and Benjamin Moore to maintain share could result in lower returns on invested capital.",
    "output": "[Cause] elevated investment spending and competition from Sherwin-Williams, PPG, and Benjamin Moore to maintain share [Relation] cause [Effect] result in lower returns on invested capital",
    "gold": "[Cause] While Behr's and Home Depot's joint effort to gain professional painter market share [Relation] enable [Effect] should result in better long-term growth prospects if successful",
    "valid": false
  },
  {
    "input": "While Behr's and Home Depot's joint effort to gain professional painter market share should result in better long-term growth prospects if successful, elevated investment spending and competition from Sherwin-Williams, PPG, and Benjamin Moore to maintain share could result in lower returns on invested capital.",
    "output": "[Cause] elevated investment spending and competition from Sherwin-Williams, PPG, and Benjamin Moore to maintain share [Relation] cause [Effect] lower returns on invested capital",
    "gold": "[Cause] While Behr's and Home Depot's joint effort to gain professional painter market share [Relation] prevent [Effect] elevated investment spending and competition from Sherwin-Williams, PPG, and Benjamin Moore to maintain share could result in lower returns on invested capital",
    "valid": false
  },
  {
    "input": "Additionally, although its adoption might be very gradual, we expect increased choline inclusion in prenatal vitamins in response to several recent studies highlighting its effectiveness in promoting fetal brain development.",
    "output": "[Cause] several recent studies highlighting its effectiveness in promoting fetal brain development [Relation] cause [Effect] increased choline inclusion in prenatal vitamins",
    "gold": "[Cause] increased choline inclusion in prenatal vitamins [Relation] enable [Effect] promoting fetal brain development",
    "valid": false
  },
  {
    "input": "We assign a medium uncertainty rating, as Siemens operates in disparate markets with countercyclical and long-cycle businesses offsetting the higher cyclicality of others.",
    "output": "[Cause] Siemens operates in disparate markets with countercyclical and long-cycle businesses [Relation] offset [Effect] higher cyclicality of others",
    "gold": "[Cause] Siemens operates in disparate markets with countercyclical and long-cycle businesses offsetting the higher cyclicality of others [Relation] cause [Effect] We assign a medium uncertainty rating",
    "valid": false
  },
  {
    "input": "Additionally, we believe the company will face increasing competition from McDonald's and other Western and Chinese quick-service restaurant rivals as they look to expand across the region and other emerging markets.",
    "output": "[Cause] McDonald's and other Western and Chinese quick-service restaurant rivals look to expand across the region and other emerging markets [Relation] cause [Effect] the company will face increasing competition",
    "gold": "[Cause] McDonald's and other Western and Chinese quick-service restaurant rivals as they look to expand across the region and other emerging markets [Relation] cause [Effect] the company will face increasing competition",
    "valid": false
  },
  {
    "input": "More than 1,200 company-owned locations were sold to franchisees after the 3G acquisition, resulting in 99% of systemwide restaurants now being operated by franchisees and licensees.",
    "output": "[Cause] 3G acquisition [Relation] cause [Effect] More than 1,200 company-owned locations were sold to franchisees",
    "gold": "[Cause] More than 1,200 company-owned locations were sold to franchisees after the 3G acquisition [Relation] cause [Effect] 99% of systemwide restaurants now being operated by franchisees and licensees",
    "valid": false
  },
  {
    "input": "Potential data breaches, given Rogers' access and transport of sensitive data, and business disruptions of what is now essentially a utility would also be risks.",
    "output": "[Cause] Rogers' access and transport of sensitive data [Relation] cause [Effect] Potential data breaches",
    "gold": "[Cause] business disruptions of what is now essentially a utility [Relation] prevent [Effect] Potential data breaches, given Rogers' access and transport of sensitive data",
    "valid": false
  },
  {
    "input": "Through its 2012 acquisition of Dako, Agilent enjoys a top-tier position in the anatomical pathology market for tissue-based cancer diagnostics, making it a major player with top-tier diagnostic firms Roche and Danaher.",
    "output": "[Cause] the 2012 acquisition of Dako [Relation] enable [Effect] Agilent enjoys a top-tier position in the anatomical pathology market for tissue-based cancer diagnostics, making it a major player with top-tier diagnostic firms Roche and Danaher",
    "gold": "[Cause] Agilent enjoys a top-tier position in the anatomical pathology market for tissue-based cancer diagnostics [Relation] enable [Effect] making it a major player with top-tier diagnostic firms Roche and Danaher",
    "valid": false
  },
  {
    "input": "In our view, more social currency accrues to the typical individual as their consumption skews to the higher end of the price spectrum.",
    "output": "[Cause] consumption skewing to the higher end of the price spectrum [Relation] cause [Effect] more social currency accrues to the typical individual",
    "gold": "[Cause] their consumption skews to the higher end of the price spectrum [Relation] cause [Effect] more social currency accrues to the typical individual",
    "valid": false
  },
  {
    "input": "However, Polaris' brands do not benefit from switching costs, and with peers innovating more quickly than in the past, it could jeopardize the firm's ability to take price and share consistently, particularly in periods of inflated recalls or aggressive industry discounting.",
    "output": "[Cause] Polaris' brands do not benefit from switching costs; peers innovating more quickly than in the past [Relation] cause [Effect] jeopardize the firm's ability to take price and share consistently, particularly in periods of inflated recalls or aggressive industry discounting",
    "gold": "[Cause] Polaris' brands do not benefit from switching costs, and with peers innovating more quickly than in the past [Relation] cause [Effect] jeopardize the firm's ability to take price and share consistently, particularly in periods of inflated recalls or aggressive industry discounting",
    "valid": false
  },
  {
    "input": "The closure of an anchor usually means less traffic for a mall and many in line tenants opting out of their leases, which exacerbates the situation.",
    "output": "[Cause] The closure of an anchor [Relation] cause [Effect] less traffic for a mall and many in line tenants opting out of their leases",
    "gold": "[Cause] The closure of an anchor usually means less traffic for a mall and many in line tenants opting out of their leases [Relation] cause [Effect] exacerbates the situation",
    "valid": false
  },
  {
    "input": "The operating margin is likely to expand in 2024 and 2025 to nearly 39%, as lower growth in operating expenses (driven by more automation of content, data, and user monitoring), coupled with revenue growth, will create operating leverage.",
    "output": "[Cause] lower growth in operating expenses (driven by more automation of content, data, and user monitoring), coupled with revenue growth [Relation] enable [Effect] operating margin is likely to expand in 2024 and 2025 to nearly 39%",
    "gold": "[Cause] coupled with revenue growth, will create operating leverage| lower growth in operating expenses [Relation] cause [Effect] The operating margin is likely to expand in 2024 and 2025 to nearly 39%",
    "valid": false
  },
  {
    "input": "Consumers have limited discretionary dollars to spend, and as fashions and trends cycle, there could be a disproportionate impact on EA's cash flow.",
    "output": "[Cause] Consumers have limited discretionary dollars to spend [Relation] cause [Effect] there could be a disproportionate impact on EA's cash flow",
    "gold": "[Cause] fashions and trends cycle [Relation] cause [Effect] a disproportionate impact on EA's cash flow",
    "valid": false
  },
  {
    "input": "Additionally, Williams-Sonoma's fundamental demand is tied somewhat to the performance of the domestic home improvement market (which we believe will grow 3% on average over the medium term) and consumer confidence, which can to fluctuate over an economic cycle, driving volatility in sales.",
    "output": "[Cause] the performance of the domestic home improvement market and consumer confidence, which can fluctuate over an economic cycle [Relation] cause [Effect] volatility in sales",
    "gold": "[Cause] performance of the domestic home improvement market [Relation] enable [Effect] Williams-Sonoma's fundamental demand",
    "valid": false
  },
  {
    "input": "Additionally, Williams-Sonoma's fundamental demand is tied somewhat to the performance of the domestic home improvement market (which we believe will grow 3% on average over the medium term) and consumer confidence, which can to fluctuate over an economic cycle, driving volatility in sales.",
    "output": "[Cause] performance of the domestic home improvement market and consumer confidence [Relation] correlate [Effect] volatility in sales",
    "gold": "[Cause] consumer confidence [Relation] enable [Effect] performance of the domestic home improvement market (which we believe will grow 3% on average over the medium term)",
    "valid": false
  },
  {
    "input": "Additionally, Williams-Sonoma's fundamental demand is tied somewhat to the performance of the domestic home improvement market (which we believe will grow 3% on average over the medium term) and consumer confidence, which can to fluctuate over an economic cycle, driving volatility in sales.",
    "output": "[Cause] performance of the domestic home improvement market and consumer confidence [Relation] cause [Effect] driving volatility in sales",
    "gold": "[Cause] consumer confidence, which can to fluctuate over an economic cycle [Relation] enable [Effect] driving volatility in sales",
    "valid": false
  },
  {
    "input": "To more quantitatively orient our thoughts regarding the company's cost positioning, we use cost of goods sold per hectoliter as an indicator for procurement leverage, along with HLs per brewery as an indicator of brewery productivity and attendant capacity utilization.",
    "output": "[Cause] use cost of goods sold per hectoliter as an indicator for procurement leverage, along with HLs per brewery as an indicator of brewery productivity and attendant capacity utilization [Relation] enable [Effect] more quantitatively orient our thoughts regarding the company's cost positioning",
    "gold": "[Cause] more quantitatively orient our thoughts regarding the company's cost positioning [Relation] cause [Effect] use cost of goods sold per hectoliter as an indicator for procurement leverage, along with HLs per brewery as an indicator of brewery productivity and attendant capacity utilization",
    "valid": false
  },
  {
    "input": "Additionally, as it moves into new middleweight and small displacement product categories in an attempt to offset domestic declines, it risks the inability to market properly to a new consumer base.",
    "output": "[Cause] moves into new middleweight and small displacement product categories in an attempt to offset domestic declines [Relation] cause [Effect] risks the inability to market properly to a new consumer base",
    "gold": "[Cause] it moves into new middleweight and small displacement product categories [Relation] prevent [Effect] domestic declines",
    "valid": false
  },
  {
    "input": "Additionally, as it moves into new middleweight and small displacement product categories in an attempt to offset domestic declines, it risks the inability to market properly to a new consumer base.",
    "output": "[Cause] moving into new middleweight and small displacement product categories [Relation] cause [Effect] risks the inability to market properly to a new consumer base",
    "gold": "[Cause] it moves into new middleweight and small displacement product categories in an attempt to offset domestic declines [Relation] prevent [Effect] to market properly to a new consumer base",
    "valid": false
  },
  {
    "input": "Although customers outline the specific flavor and fragrance profiles they are looking to achieve, the resulting intellectual property developed by International Flavors &amp; Fragrances stays with the company. This establishes valuable intangible assets that allow IFF to generate economic profit over the life cycle of the products in which the proprietary formulations are used.",
    "output": "[Cause] customers outline the specific flavor and fragrance profiles they are looking to achieve [Relation] enable [Effect] resulting intellectual property developed by International Flavors & Fragrances stays with the company",
    "gold": "[Cause] Although customers outline the specific flavor and fragrance profiles they are looking to achieve, the resulting intellectual property developed by International Flavors &amp; Fragrances stays with the company [Relation] cause [Effect] establishes valuable intangible assets that allow IFF to generate economic profit over the life cycle of the products in which the proprietary formulations are used",
    "valid": false
  },
  {
    "input": "We also think the company's global reach will continue to resonate, and its already strong presence within rapidly growing emerging markets to expand further.",
    "output": "[Cause] its already strong presence within rapidly growing emerging markets [Relation] enable [Effect] expand further",
    "gold": "[Cause] its already strong presence within rapidly growing emerging markets [Relation] enable [Effect] the company's global reach will continue to resonate",
    "valid": false
  },
  {
    "input": "And, in an effort to offset hefty raw material inflation (which management now pegs at $900 million to $1.1 billion in fiscal 2021, up from $450 million to $600 million prior), Kimberly plans to raise prices across its mix at mid- to high-single-digit rates beginning in late June.",
    "output": "[Cause] hefty raw material inflation [Relation] offset [Effect] Kimberly plans to raise prices across its mix at mid- to high-single-digit rates",
    "gold": "[Cause] raise prices across its mix at mid- to high-single-digit rates beginning in late June [Relation] cause [Effect] offset hefty raw material inflation",
    "valid": false
  },
  {
    "input": "Slack offers a freemium model and caters to companies of all sizes, which means revenue is concentrated among the largest customers.",
    "output": "[Cause] Slack offers a freemium model and caters to companies of all sizes [Relation] cause [Effect] revenue is concentrated among the largest customers",
    "gold": "[Cause] Slack offers a freemium model and caters to companies of all sizes [Relation] enable [Effect] revenue is concentrated among the largest customers",
    "valid": true
  },
  {
    "input": "Beginning in 1998 as a roll-up of auto salvage companies in the fragmented North American market, LKQ quickly grew its operations through more than 280 acquisitions and by increasing its market penetration with an ever-expanding catalog.",
    "output": "[Cause] roll-up of auto salvage companies in the fragmented North American market [Relation] enable [Effect] LKQ quickly grew its operations through more than 280 acquisitions and by increasing its market penetration with an ever-expanding catalog",
    "gold": "[Cause] by increasing its market penetration with an ever-expanding catalog. [Relation] enable [Effect] LKQ quickly grew its operations through more than 280 acquisitions",
    "valid": false
  },
  {
    "input": "We attribute AMN's network effect to its traditional staffing business, with its crux in AMN's primary business: the staffing of long-term and temporary nurses across several specialties, to a plethora of leading healthcare providers.",
    "output": "[Cause] staffing of long-term and temporary nurses across several specialties to a plethora of leading healthcare providers [Relation] enable [Effect] AMN's network effect",
    "gold": "[Cause] its traditional staffing business, with its crux in AMN's primary business: the staffing of long-term and temporary nurses across several specialties, to a plethora of leading healthcare providers [Relation] enable [Effect] AMN's network effect",
    "valid": false
  },
  {
    "input": "Still, we think the greatest margin improvement will come from gross margin expansion as the company grows out of relatively new discounted subscription contracts and also depends proportionally less on its low-margin services business.",
    "output": "[Cause] the company grows out of relatively new discounted subscription contracts and also depends proportionally less on its low-margin services business [Relation] cause [Effect] gross margin expansion",
    "gold": "[Cause] gross margin expansion [Relation] enable [Effect] the greatest margin improvement",
    "valid": false
  },
  {
    "input": "This is particularly true in searching for general information, because it is still a necessity, and Baidu has a dominant market share of over 70% in search.",
    "output": "[Cause] Baidu has a dominant market share of over 70% in search [Relation] cause [Effect] This is particularly true in searching for general information, because it is still a necessity",
    "gold": "[Cause] it is still a necessity [Relation] cause [Effect] Baidu has a dominant market share of over 70% in search",
    "valid": false
  },
  {
    "input": "This means oil price volatility leads to short-term volatility in revenue, as Viper is paid a percentage of what the operator obtains.",
    "output": "[Cause] oil price volatility [Relation] cause [Effect] short-term volatility in revenue",
    "gold": "[Cause] Viper is paid a percentage of what the operator obtains [Relation] cause [Effect] This means oil price volatility leads to short-term volatility in revenue",
    "valid": false
  },
  {
    "input": "Our volume forecast is muted by the emergence of cheaper suppliers in lower-cost labor countries; however, Canopy's production expansion into Colombia and Lesotho helps protect its share.",
    "output": "[Cause] emergence of cheaper suppliers in lower-cost labor countries [Relation] cause [Effect] muted volume forecast",
    "gold": "[Cause] by the emergence of cheaper suppliers in lower-cost labor countries [Relation] cause [Effect] Our volume forecast is muted",
    "valid": false
  },
  {
    "input": "Our volume forecast is muted by the emergence of cheaper suppliers in lower-cost labor countries; however, Canopy's production expansion into Colombia and Lesotho helps protect its share.",
    "output": "[Cause] emergence of cheaper suppliers in lower-cost labor countries [Relation] inhibit [Effect] muted volume forecast",
    "gold": "[Cause] Canopy's production expansion into Colombia and Lesotho [Relation] enable [Effect] helps protect its share",
    "valid": false
  },
  {
    "input": "With a significant portion of annual revenue generated by management fees levied on AUM, dramatic market movements or changes in fund flows can have a meaningful impact on operating profits and cash flows.",
    "output": "[Cause] dramatic market movements or changes in fund flows [Relation] cause [Effect] can have a meaningful impact on operating profits and cash flows",
    "gold": "[Cause] With a significant portion of annual revenue generated by management fees levied on AUM| dramatic market movements or changes in fund flows [Relation] cause [Effect] a meaningful impact on operating profits and cash flows",
    "valid": false
  },
  {
    "input": "By concentrating purchases, Five Below becomes more valuable to its vendors while ensuring the volume needed to hold per-item shipping and logistics costs down, creating further fuel to feed the chain's value-oriented message.",
    "output": "[Cause] By concentrating purchases [Relation] enable [Effect] Five Below becomes more valuable to its vendors | ensuring the volume needed to hold per-item shipping and logistics costs down | creating further fuel to feed the chain's value-oriented message",
    "gold": "[Cause] concentrating purchases [Relation] enable [Effect] ensuring the volume needed to hold per-item shipping and logistics costs down",
    "valid": false
  },
  {
    "input": "By concentrating purchases, Five Below becomes more valuable to its vendors while ensuring the volume needed to hold per-item shipping and logistics costs down, creating further fuel to feed the chain's value-oriented message.",
    "output": "[Cause] By concentrating purchases [Relation] enable [Effect] Five Below becomes more valuable to its vendors",
    "gold": "[Cause] concentrating purchases [Relation] enable [Effect] creating further fuel to feed the chain's value-oriented message",
    "valid": false
  },
  {
    "input": "As Church & Dwight continues to purchase leading brands to capture market share, we worry it will extend itself too far into categories with which it is not as familiar.",
    "output": "[Cause] Church & Dwight continues to purchase leading brands to capture market share [Relation] cause [Effect] it will extend itself too far into categories with which it is not as familiar",
    "gold": "[Cause] Church & Dwight continues to purchase leading brands to capture market share [Relation] cause [Effect] it will extend itself too far into categories with which it is not as familiar",
    "valid": true
  },
  {
    "input": "In directional drilling, for example, National Oilwell has focused on downhole drilling motors, which the other integrated-services companies years ago de-emphasized owing to the increasing competitiveness and lower margins.",
    "output": "[Cause] the other integrated-services companies de-emphasized downhole drilling motors [Relation] enable [Effect] National Oilwell has focused on downhole drilling motors",
    "gold": "[Cause] the increasing competitiveness and lower margins [Relation] cause [Effect] the other integrated-services companies years ago de-emphasized",
    "valid": false
  },
  {
    "input": "As potash prices recover, we forecast Mosaic's production will eventually rise to 12 million metric tons, with all incremental volumes coming from the low-cost K3 potash mine.",
    "output": "[Cause] potash prices recover [Relation] enable [Effect] Mosaic's production will eventually rise to 12 million metric tons",
    "gold": "[Cause] potash prices recover [Relation] cause [Effect] Mosaic's production will eventually rise to 12 million metric tons",
    "valid": true
  },
  {
    "input": "This dynamic tends to keep spinal surgeons loyal to Medtronic's products, as long as the company does not fall too far behind its competitors when it comes to introducing new technology.",
    "output": "[Cause] Medtronic's products [Relation] enable [Effect] spinal surgeons loyal",
    "gold": "[Cause] This dynamic tends to keep spinal surgeons loyal to Medtronic's products [Relation] enable [Effect] the company does not fall too far behind its competitors when it comes to introducing new technology",
    "valid": false
  },
  {
    "input": "Hanes owns factories in Latin America and the Caribbean and can produce basic apparel at least as efficiently as others because it has the greatest volume.",
    "output": "[Cause] Hanes owns factories in Latin America and the Caribbean and has the greatest volume [Relation] enable [Effect] can produce basic apparel at least as efficiently as others",
    "gold": "[Cause] it has the greatest volume [Relation] cause [Effect] Hanes owns factories in Latin America and the Caribbean and can produce basic apparel at least as efficiently as others",
    "valid": false
  },
  {
    "input": "Biosimilars (follow-on versions of branded biologics) are associated with significantly higher costs of manufacturing, clinical trials, and marketing than traditional small-molecule generics, and therefore have not had as dramatic an impact on branded drug sales at launch.",
    "output": "[Cause] significantly higher costs of manufacturing, clinical trials, and marketing than traditional small-molecule generics [Relation] cause [Effect] Biosimilars have not had as dramatic an impact on branded drug sales at launch",
    "gold": "[Cause] Biosimilars (follow-on versions of branded biologics) are associated with significantly higher costs of manufacturing, clinical trials, and marketing [Relation] cause [Effect] have not had as dramatic an impact on branded drug sales at launch",
    "valid": false
  },
  {
    "input": "While we think new competitors could enter through the e-commerce channel, in our opinion they would be limited to operating in few and particular categories because of the prohibitive shipping costs numerous products entail.",
    "output": "[Cause] prohibitive shipping costs numerous products entail [Relation] prevent [Effect] new competitors would be limited to operating in few and particular categories",
    "gold": "[Cause] the prohibitive shipping costs numerous products entail [Relation] cause [Effect] they would be limited to operating in few and particular categories",
    "valid": false
  },
  {
    "input": "We anticipate the pandemic will also support an uptick in demand for heart-lung machines, associated consumables, and the TandemLife extracorporeal membrane oxygenation machines that will partially offset the neuromodulation decline.",
    "output": "[Cause] the pandemic [Relation] support | partially offset [Effect] an uptick in demand for heart-lung machines, associated consumables, and the TandemLife extracorporeal membrane oxygenation machines",
    "gold": "[Cause] We anticipate the pandemic will also support an uptick in demand for heart-lung machines, associated consumables, and the TandemLife extracorporeal membrane oxygenation machines [Relation] enable [Effect] partially offset the neuromodulation decline",
    "valid": false
  },
  {
    "input": "With the majority of its linerboard and medium constructed from virgin fiber, WestRock faces the risk that softwood chip prices could increase substantially, forcing virgin fiber manufacturers to live with tighter margins to remain cost-competitive with recycled manufacturers.",
    "output": "[Cause] softwood chip prices could increase substantially [Relation] cause [Effect] forcing virgin fiber manufacturers to live with tighter margins to remain cost-competitive with recycled manufacturers",
    "gold": "[Cause] the majority of its linerboard and medium constructed from virgin fiber [Relation] enable [Effect] WestRock faces the risk that softwood chip prices could increase substantially",
    "valid": false
  },
  {
    "input": "With the majority of its linerboard and medium constructed from virgin fiber, WestRock faces the risk that softwood chip prices could increase substantially, forcing virgin fiber manufacturers to live with tighter margins to remain cost-competitive with recycled manufacturers.",
    "output": "[Cause] the risk that softwood chip prices could increase substantially [Relation] cause [Effect] forcing virgin fiber manufacturers to live with tighter margins to remain cost-competitive with recycled manufacturers",
    "gold": "[Cause] virgin fiber manufacturers to live with tighter margins [Relation] enable [Effect] remain cost-competitive with recycled manufacturers",
    "valid": false
  },
  {
    "input": "The registration process serves as a barrier to entry for would-be competitors: Even if they were to enter the market, they would have to disrupt sticky business relationships that Balchem enjoys due to its reputation as a reliable supplier.",
    "output": "[Cause] The registration process serves as a barrier to entry for would-be competitors [Relation] cause [Effect] they would have to disrupt sticky business relationships that Balchem enjoys due to its reputation as a reliable supplier",
    "gold": "[Cause] Even if they were to enter the market, they would have to disrupt sticky business relationships that Balchem enjoys due to its reputation as a reliable supplier [Relation] cause [Effect] The registration process serves as a barrier to entry for would-be competitors",
    "valid": false
  },
  {
    "input": "As economic conditions recover, we think KCS has slightly higher volume growth potential (albeit with higher risk) through its cross-border exposure to Mexico, including Mexican energy reform shipments (inbound refined products).",
    "output": "[Cause] economic conditions recover [Relation] enable [Effect] KCS has slightly higher volume growth potential through its cross-border exposure to Mexico, including Mexican energy reform shipments (inbound refined products)",
    "gold": "[Cause] economic conditions recover [Relation] enable [Effect] KCS has slightly higher volume growth potential (albeit with higher risk) through its cross-border exposure to Mexico, including Mexican energy reform shipments (inbound refined products)",
    "valid": false
  },
  {
    "input": "While we continue to expect strong growth through 2021 due to the ongoing COVID-19 crisis, we also assume Qiagen's results return to more normalized levels beyond that.",
    "output": "[Cause] ongoing COVID-19 crisis [Relation] enable [Effect] strong growth through 2021",
    "gold": "[Cause] beyond that [Relation] enable [Effect] Qiagen's results return to more normalized levels",
    "valid": false
  },
  {
    "input": "Repair shops often require delivery of purchased components within less than an hour of placing an order, creating a last-mile delivery expectation that is difficult to meet without an extensive store and warehouse network.",
    "output": "[Cause] Repair shops often require delivery of purchased components within less than an hour of placing an order [Relation] cause [Effect] creating a last-mile delivery expectation that is difficult to meet without an extensive store and warehouse network",
    "gold": "[Cause] an extensive store and warehouse network [Relation] enable [Effect] creating a last-mile delivery expectation",
    "valid": false
  },
  {
    "input": "With SolidWorks being considered the industry standard for many of its solutions, specifically within product manufacturing, universities are convinced to continue teaching the software in its programs, which drives firms to continue using this industry standard, causing universities to continue to teach the software in their technical curriculums.",
    "output": "[Cause] SolidWorks being considered the industry standard for many solutions within product manufacturing [Relation] cause [Effect] universities are convinced to continue teaching the software in their programs",
    "gold": "[Cause] SolidWorks being considered the industry standard for many of its solutions, specifically within product manufacturing, universities are convinced to continue teaching the software in its programs [Relation] cause [Effect] firms to continue using this industry standard",
    "valid": false
  },
  {
    "input": "With SolidWorks being considered the industry standard for many of its solutions, specifically within product manufacturing, universities are convinced to continue teaching the software in its programs, which drives firms to continue using this industry standard, causing universities to continue to teach the software in their technical curriculums.",
    "output": "[Cause] SolidWorks being considered the industry standard for many of its solutions [Relation] cause [Effect] universities are convinced to continue teaching the software in their programs",
    "gold": "[Cause] SolidWorks being considered the industry standard for many of its solutions, specifically within product manufacturing, universities are convinced to continue teaching the software in its programs [Relation] cause [Effect] universities to continue to teach the software in their technical curriculums",
    "valid": false
  },
  {
    "input": "Led by 6% growth in China, 36% digital growth, and solid sales in Europe, the firm outperformed our sales and earnings estimates in the third quarter.",
    "output": "[Cause] 6% growth in China, 36% digital growth, and solid sales in Europe [Relation] cause [Effect] the firm outperformed our sales and earnings estimates in the third quarter",
    "gold": "[Cause] 6% growth in China, 36% digital growth, and solid sales in Europe [Relation] enable [Effect] the firm outperformed our sales and earnings estimates in the third quarter",
    "valid": true
  },
  {
    "input": "As Tyler continues to benefit from larger deals, we believe it will bump into the larger horizontal software companies more frequently.",
    "output": "[Cause] Tyler continues to benefit from larger deals [Relation] effect [Effect] Tyler will bump into the larger horizontal software companies more frequently",
    "gold": "[Cause] Tyler continues to benefit from larger deals [Relation] enable [Effect] it will bump into the larger horizontal software companies more frequently",
    "valid": false
  },
  {
    "input": "We expect Magellan to continue to benefit from a stable environment for its refined product footprint over the long run, which will serve as the cash cow for its investments in crude oil pipelines and other investments as opportunities arise.",
    "output": "[Cause] a stable environment for its refined product footprint over the long run [Relation] enable [Effect] Magellan to continue to benefit",
    "gold": "[Cause] Magellan to continue to benefit from a stable environment for its refined product footprint over the long run [Relation] enable [Effect] cash cow for its investments in crude oil pipelines and other investments as opportunities arise",
    "valid": false
  },
  {
    "input": "BB&T was the larger of the two franchises, and we see material cost savings and therefore operating improvements from the merger.",
    "output": "[Cause] BB&T was the larger of the two franchises [Relation] cause [Effect] material cost savings and therefore operating improvements from the merger",
    "gold": "[Cause] material cost savings [Relation] cause [Effect] operating improvements from the merger",
    "valid": false
  },
  {
    "input": "Julius Baer has a premium brand in the market, a diverse range of products and an excellent reputation with clients, this enables Julius Baer to retain and attract the best relationship managers.",
    "output": "[Cause] premium brand in the market, a diverse range of products, excellent reputation with clients [Relation] enable [Effect] enable Julius Baer to retain and attract the best relationship managers",
    "gold": "[Cause] diverse range of products and an excellent reputation with clients [Relation] enable [Effect] enables Julius Baer to retain and attract the best relationship managers",
    "valid": false
  },
  {
    "input": "With its broad domestic manufacturing and distribution network, we posit that Campbell operates with lower unit and distribution costs, as well as greater supply chain efficiency and an enhanced ability to leverage brand spending, than smaller peers.",
    "output": "[Cause] broad domestic manufacturing and distribution network [Relation] enable [Effect] lower unit and distribution costs, greater supply chain efficiency, enhanced ability to leverage brand spending",
    "gold": "[Cause] its broad domestic manufacturing and distribution network [Relation] cause [Effect] Campbell operates with lower unit and distribution costs",
    "valid": false
  },
  {
    "input": "With its broad domestic manufacturing and distribution network, we posit that Campbell operates with lower unit and distribution costs, as well as greater supply chain efficiency and an enhanced ability to leverage brand spending, than smaller peers.",
    "output": "[Cause] broad domestic manufacturing and distribution network [Relation] enable [Effect] lower unit and distribution costs, greater supply chain efficiency, enhanced ability to leverage brand spending",
    "gold": "[Cause] its broad domestic manufacturing and distribution network [Relation] cause [Effect] an enhanced ability to leverage brand spending, than smaller peers",
    "valid": false
  },
  {
    "input": "We forecast revenue will rebound about 25% in 2021 as the parks business bounces back and the delayed Olympics helps fuel a resurgence in ad sales.",
    "output": "[Cause] the parks business bounces back and the delayed Olympics helps fuel a resurgence in ad sales [Relation] enable [Effect] revenue will rebound about 25% in 2021",
    "gold": "[Cause] the delayed Olympics [Relation] enable [Effect] fuel a resurgence in ad sales",
    "valid": false
  },
  {
    "input": "However, this remains a remote possibility, as there is no indication that this is a priority for the current administration, and legislative goals are focused elsewhere.",
    "output": "[Cause] no indication that this is a priority for the current administration, and legislative goals are focused elsewhere. [Relation] prevent [Effect] this remains a remote possibility",
    "gold": "[Cause] there is no indication that this is a priority for the current administration, and legislative goals are focused elsewhere [Relation] cause [Effect] this remains a remote possibility",
    "valid": false
  },
  {
    "input": "Such transitions are not easy and tend to pressure near-term results, but we think the company is about at the trough, and operating improvement should follow over the next several years.",
    "output": "[Cause] Such transitions [Relation] cause [Effect] pressure near-term results",
    "gold": "[Cause] operating improvement should follow over the next several years. [Relation] enable [Effect] tend to pressure near-term results",
    "valid": false
  },
  {
    "input": "However, Nasdaq can generate associated revenue from its trading business through the use of its intangible assets to sell data, listing services, and licenses for its indexes.",
    "output": "[Cause] Nasdaq's intangible assets [Relation] enable [Effect] generate associated revenue from its trading business through the use of its intangible assets to sell data, listing services, and licenses for its indexes",
    "gold": "[Cause] use of its intangible assets to sell data, listing services, and licenses for its indexes [Relation] enable [Effect] generate associated revenue from its trading business",
    "valid": false
  },
  {
    "input": "CenterPoint Energy's regulated utilities have significant investment opportunities, but Enable Midstream Partners LP's earnings remain under pressure due to the impact of COVID-19 on the global economy and the reduction in oil prices.",
    "output": "[Cause] the impact of COVID-19 on the global economy and the reduction in oil prices [Relation] cause [Effect] Enable Midstream Partners LP's earnings remain under pressure",
    "gold": "[Cause] the impact of COVID-19 on the global economy and the reduction in oil prices [Relation] cause [Effect] Enable Midstream Partners LP's earnings remain under pressure",
    "valid": true
  },
  {
    "input": "We expect Robert Half to increase permanent placements by providing employers access to its deep bench of highly skilled professionals.",
    "output": "[Cause] providing employers access to its deep bench of highly skilled professionals [Relation] enable [Effect] Robert Half to increase permanent placements",
    "gold": "[Cause] providing employers access to its deep bench of highly skilled professionals [Relation] enable [Effect] Robert Half to increase permanent placements",
    "valid": true
  },
  {
    "input": "Dish now holds a well-diversified portfolio of spectrum assets that would nicely support the offering of wireless service, but no network to utilize that spectrum nor the financial resources to build one on its own.",
    "output": "[Cause] Dish holds a well-diversified portfolio of spectrum assets [Relation] cause [Effect] no network to utilize that spectrum nor the financial resources to build one on its own",
    "gold": "[Cause] a well-diversified portfolio of spectrum assets [Relation] enable [Effect] nicely support the offering of wireless service",
    "valid": false
  },
  {
    "input": "Alnylam Pharmaceuticals is a pioneer in designing therapeutics based on RNA interference, a mechanism that occurs naturally in cells and silences overexpressed genes, which often cause protein misfolding and/or protein accumulation.",
    "output": "[Cause] designing therapeutics based on RNA interference, a mechanism that occurs naturally in cells and silences overexpressed genes [Relation] enable [Effect] Alnylam Pharmaceuticals is a pioneer",
    "gold": "[Cause] silences overexpressed genes [Relation] prevent [Effect] protein misfolding and/or protein accumulation",
    "valid": false
  },
  {
    "input": "We think the network effect is strongest on the MercadoLibre platform (where 90% of the listings are fixed price) and believe this key competitive advantage is enough to set the firm apart from competition, making it difficult for rivals to poach customers.",
    "output": "[Cause] the network effect is strongest on the MercadoLibre platform [Relation] enable [Effect] key competitive advantage is enough to set the firm apart from competition, making it difficult for rivals to poach customers",
    "gold": "[Cause] this key competitive advantage is enough to set the firm apart from competition [Relation] enable [Effect] making it difficult for rivals to poach customers",
    "valid": false
  },
  {
    "input": "With Lazard deriving half of its revenue from financial advisory and half from asset management, the company's revenue and earnings can be cyclical.",
    "output": "[Cause] Lazard deriving half of its revenue from financial advisory and half from asset management [Relation] cause [Effect] the company's revenue and earnings can be cyclical",
    "gold": "[Cause] Lazard deriving half of its revenue from financial advisory and half from asset management [Relation] cause [Effect] the company's revenue and earnings can be cyclical",
    "valid": true
  },
  {
    "input": "Coupa should benefit from operating leverage, and we expect expansion in GAAP operating margin from negative 31% in fiscal 2021 to negative 9% in fiscal 2026.",
    "output": "[Cause] operating leverage [Relation] enable [Effect] expansion in GAAP operating margin from negative 31% in fiscal 2021 to negative 9% in fiscal 2026",
    "gold": "[Cause] expansion in GAAP operating margin from negative 31% in fiscal 2021 to negative 9% in fiscal 2026 [Relation] enable [Effect] Coupa should benefit from operating leverage",
    "valid": false
  },
  {
    "input": "We think a more realistic estimate of Paylocity's current TAM is $12 billion, as most companies will not adopt all of the applications Paylocity offers.",
    "output": "[Cause] most companies will not adopt all of the applications Paylocity offers [Relation] cause [Effect] a more realistic estimate of Paylocity's current TAM is $12 billion",
    "gold": "[Cause] most companies will not adopt all of the applications Paylocity offers [Relation] cause [Effect] a more realistic estimate of Paylocity's current TAM is $12 billion",
    "valid": true
  },
  {
    "input": "WW's studio business has been negatively impacted by COVID-19-related changes in consumer behavior, which will likely result in a reduction in the number of WW studios.",
    "output": "[Cause] COVID-19-related changes in consumer behavior [Relation] cause [Effect] negatively impacted WW's studio business",
    "gold": "[Cause] negatively impacted by COVID-19-related changes in consumer behavior [Relation] cause [Effect] a reduction in the number of WW studios.",
    "valid": false
  },
  {
    "input": "Given China's fast food penetration rate is still low compared with that in more developed countries, we see Yum China accelerating unit openings with new restaurant formats at lower-tier cities, resulting in operational efficiencies that can unlock future margin expansion.",
    "output": "[Cause] China's fast food penetration rate is still low compared with that in more developed countries [Relation] cause [Effect] Yum China accelerating unit openings with new restaurant formats at lower-tier cities",
    "gold": "[Cause] China's fast food penetration rate is still low compared with that in more developed countries [Relation] cause [Effect] Yum China accelerating unit openings with new restaurant formats at lower-tier cities",
    "valid": true
  },
  {
    "input": "Given China's fast food penetration rate is still low compared with that in more developed countries, we see Yum China accelerating unit openings with new restaurant formats at lower-tier cities, resulting in operational efficiencies that can unlock future margin expansion.",
    "output": "[Cause] China's fast food penetration rate is still low compared with that in more developed countries [Relation] enable [Effect] Yum China accelerating unit openings with new restaurant formats at lower-tier cities",
    "gold": "[Cause] Yum China accelerating unit openings with new restaurant formats at lower-tier cities [Relation] cause [Effect] operational efficiencies that can unlock future margin expansion",
    "valid": false
  },
  {
    "input": "We believe that Enbridge's broad network of midstream assets and geographic diversification will serve it well in the low oil and gas price environment, and crude and natural gas pipeline expansions in growing regions will fuel EBITDA growth.",
    "output": "[Cause] Enbridge's broad network of midstream assets and geographic diversification [Relation] cause [Effect] will serve it well in the low oil and gas price environment",
    "gold": "[Cause] Enbridge's broad network of midstream assets and geographic diversification will serve it well in the low oil and gas price environment, and crude and natural gas pipeline expansions in growing regions [Relation] enable [Effect] fuel EBITDA growth",
    "valid": false
  },
  {
    "input": "As the firm's platforms match individuals seeking relationships with other individuals, they require individuals to submit a lot of personal information.",
    "output": "[Cause] the firm's platforms match individuals seeking relationships with other individuals [Relation] cause [Effect] they require individuals to submit a lot of personal information",
    "gold": "[Cause] the firm's platforms match individuals seeking relationships with other individuals [Relation] cause [Effect] they require individuals to submit a lot of personal information",
    "valid": true
  },
  {
    "input": "Eaton's products mostly compete in the differentiated portions of its end markets, which we think reduces the risk of commoditization.",
    "output": "[Cause] Eaton's products mostly compete in the differentiated portions of its end markets [Relation] cause [Effect] reduces the risk of commoditization",
    "gold": "[Cause] Eaton's products mostly compete in the differentiated portions of its end markets [Relation] enable [Effect] reduces the risk of commoditization",
    "valid": true
  },
  {
    "input": "Given this deal will cover network that contributes to around 80% of 5G network expenditure, this could be quite significant although savings will reduce as more traffic is put on the network as capacity related capital expenditures savings will be much smaller than coverage related savings.",
    "output": "[Cause] network that contributes to around 80% of 5G network expenditure [Relation] cause [Effect] savings will reduce as more traffic is put on the network as capacity-related capital expenditure savings will be much smaller than coverage-related savings",
    "gold": "[Cause] this deal will cover network that contributes to around 80% of 5G network expenditure [Relation] cause [Effect] this could be quite significant although savings will reduce as more traffic is put on the network as capacity related capital expenditures savings will be much smaller than coverage related savings",
    "valid": false
  },
  {
    "input": "The applied water segment benefits from similar industry dynamics as water infrastructure, as it also manufactures equipment that performs vital functions. This leads to relatively high switching costs, as any plant downtime can be extremely costly for industrial and commercial customers.",
    "output": "[Cause] manufactures equipment that performs vital functions [Relation] enable [Effect] leads to relatively high switching costs",
    "gold": "[Cause] The applied water segment benefits from similar industry dynamics as water infrastructure, as it also manufactures equipment that performs vital functions [Relation] cause [Effect] relatively high switching costs, as any plant downtime can be extremely costly for industrial and commercial customers",
    "valid": false
  },
  {
    "input": "In that scenario, we'd expect Group 1 to benefit from extra service work for recalled vehicles paid for by the automaker, thus mass recalls could actually be a net positive for a dealer.",
    "output": "[Cause] extra service work for recalled vehicles paid for by the automaker [Relation] enable [Effect] Group 1 to benefit from",
    "gold": "[Cause] Group 1 to benefit from extra service work for recalled vehicles paid for by the automaker [Relation] cause [Effect] mass recalls could actually be a net positive for a dealer",
    "valid": false
  },
  {
    "input": "Eni's latest strategy to achieve carbon neutrality in 2050 rests on three pillars: decarbonization, diversification, and what it calls flexibility and resiliency.",
    "output": "[Cause] Eni's latest strategy to achieve carbon neutrality in 2050 [Relation] enable [Effect] decarbonization, diversification, flexibility and resiliency",
    "gold": "[Cause] decarbonization, diversification, and what it calls flexibility and resiliency [Relation] enable [Effect] Eni's latest strategy to achieve carbon neutrality in 2050",
    "valid": false
  },
  {
    "input": "While an increased focus on diagnostics due to the coronavirus pandemic could be a tailwind, direct competition is likely to increase to meet this rising demand, and Bio-Rad may not benefit meaningfully from this trend despite a growing market.",
    "output": "[Cause] increased focus on diagnostics due to the coronavirus pandemic [Relation] cause [Effect] direct competition is likely to increase to meet this rising demand",
    "gold": "[Cause] coronavirus pandemic [Relation] cause [Effect] increased focus on diagnostics",
    "valid": false
  },
  {
    "input": "While an increased focus on diagnostics due to the coronavirus pandemic could be a tailwind, direct competition is likely to increase to meet this rising demand, and Bio-Rad may not benefit meaningfully from this trend despite a growing market.",
    "output": "[Cause] increased focus on diagnostics due to the coronavirus pandemic [Relation] cause [Effect] direct competition is likely to increase to meet this rising demand",
    "gold": "[Cause] direct competition is likely to increase to meet this rising demand [Relation] prevent [Effect] Bio-Rad may not benefit",
    "valid": false
  },
  {
    "input": "In addition, the risk of wide-body aircraft order cancellations, early retirements and reduced flight hours negatively affect the in-service fleet size and aftermarket margins.",
    "output": "[Cause] the risk of wide-body aircraft order cancellations, early retirements, and reduced flight hours [Relation] cause [Effect] negatively affect the in-service fleet size and aftermarket margins",
    "gold": "[Cause] he risk of wide-body aircraft order cancellations, early retirements and reduced flight hours [Relation] prevent [Effect] the in-service fleet size and aftermarket margins.",
    "valid": false
  },
  {
    "input": "While Simon's revenue is somewhat protected by long-term leases, we see retailer bankruptcies causing a significant drop in occupancy and Simon being forced to offer rent concessions to keep others afloat.",
    "output": "[Cause] retailer bankruptcies [Relation] cause [Effect] a significant drop in occupancy",
    "gold": "[Cause] retailer bankruptcies [Relation] cause [Effect] a significant drop in occupancy",
    "valid": true
  },
  {
    "input": "While Simon's revenue is somewhat protected by long-term leases, we see retailer bankruptcies causing a significant drop in occupancy and Simon being forced to offer rent concessions to keep others afloat.",
    "output": "[Cause] retailer bankruptcies [Relation] cause [Effect] significant drop in occupancy",
    "gold": "[Cause] Simon being forced to offer rent concessions [Relation] enable [Effect] keep others afloat",
    "valid": false
  },
  {
    "input": "We project Telus to grow its mobile phone subscriber base by about 2% annually, but we think more aggressive competition will limit ARPU growth to less than 1% annually during that span.",
    "output": "[Cause] more aggressive competition [Relation] prevent [Effect] limit ARPU growth to less than 1% annually",
    "gold": "[Cause] limit ARPU growth to less than 1% annually during that span [Relation] enable [Effect] more aggressive competition",
    "valid": false
  },
  {
    "input": "This is because shippers desire efficient access to the small carrier base throughout the cycle and the broader trucking industry will continue to face periodic growth constraints due to the constrained driver pool.",
    "output": "[Cause] shippers desire efficient access to the small carrier base throughout the cycle [Relation] cause [Effect] the broader trucking industry will continue to face periodic growth constraints due to the constrained driver pool",
    "gold": "[Cause] the constrained driver pool [Relation] cause [Effect] the broader trucking industry will continue to face periodic growth constraints",
    "valid": false
  },
  {
    "input": "Bancorp is not large enough to be considered a global systemically important bank and therefore avoids some of the more onerous regulatory capital requirements.",
    "output": "[Cause] Bancorp is not large enough to be considered a global systemically important bank [Relation] enable [Effect] avoids some of the more onerous regulatory capital requirements",
    "gold": "[Cause] Bancorp is not large enough to be considered a global systemically important bank [Relation] cause [Effect] avoids some of the more onerous regulatory capital requirements",
    "valid": true
  },
  {
    "input": "Second, although a strong relationship with a dispensary worker could provide an advantage, we think they would be loyal to whoever last paid them, requiring significant marketing expense to maintain the relationship and eroding economic profit.",
    "output": "[Cause] a strong relationship with a dispensary worker [Relation] cause [Effect] requiring significant marketing expense to maintain the relationship and eroding economic profit",
    "gold": "[Cause] a strong relationship with a dispensary worker [Relation] cause [Effect] provide an advantage",
    "valid": false
  },
  {
    "input": "Second, although a strong relationship with a dispensary worker could provide an advantage, we think they would be loyal to whoever last paid them, requiring significant marketing expense to maintain the relationship and eroding economic profit.",
    "output": "[Cause] a strong relationship with a dispensary worker [Relation] cause [Effect] requiring significant marketing expense to maintain the relationship and eroding economic profit",
    "gold": "[Cause] they would be loyal to whoever last paid them [Relation] cause [Effect] eroding economic profit",
    "valid": false
  },
  {
    "input": "Both IP and ITT's connect and control technologies segment, or CCT, should increasingly create shareholder value as management furthers lean improvements.",
    "output": "[Cause] management furthers lean improvements [Relation] enable [Effect] Both IP and ITT's connect and control technologies segment, or CCT, should increasingly create shareholder value",
    "gold": "[Cause] management furthers lean improvements [Relation] cause [Effect] Both IP and ITT's connect and control technologies segment, or CCT, should increasingly create shareholder value",
    "valid": true
  },
  {
    "input": "In Avery's LGM business, we expect margins to come under pressure in the long run, falling gradually toward 12% as competition erodes the profitability of less differentiated label and graphic products.",
    "output": "[Cause] competition erodes the profitability of less differentiated label and graphic products [Relation] cause [Effect] margins to come under pressure in the long run, falling gradually toward 12%",
    "gold": "[Cause] competition erodes the profitability of less differentiated label and graphic products [Relation] enable [Effect] margins to come under pressure in the long run, falling gradually toward 12%",
    "valid": true
  },
  {
    "input": "Most online grocery shopping still comes from a neighborhood grocery store, since these stores are conveniently located near end consumers.",
    "output": "[Cause] neighborhood grocery stores conveniently located near end consumers [Relation] enable [Effect] Most online grocery shopping still comes from a neighborhood grocery store",
    "gold": "[Cause] these stores are conveniently located near end consumers [Relation] cause [Effect] Most online grocery shopping still comes from a neighborhood grocery store",
    "valid": false
  },
  {
    "input": "With oil prices crashing, the firm doesn't have much near-term cash flow potential from any of its product streams, which resulted in a major sell-off.",
    "output": "[Cause] oil prices crashing [Relation] cause [Effect] the firm doesn't have much near-term cash flow potential from any of its product streams",
    "gold": "[Cause] oil prices crashing [Relation] cause [Effect] the firm doesn't have much near-term cash flow potential from any of its product streams",
    "valid": true
  },
  {
    "input": "With oil prices crashing, the firm doesn't have much near-term cash flow potential from any of its product streams, which resulted in a major sell-off.",
    "output": "[Cause] oil prices crashing [Relation] cause [Effect] the firm doesn't have much near-term cash flow potential from any of its product streams",
    "gold": "[Cause] the firm doesn't have much near-term cash flow potential from any of its product streams [Relation] cause [Effect] a major sell-off",
    "valid": false
  },
  {
    "input": "Over the last two decades, Edwards Lifesciences has demonstrated that it knows how to maintain leadership through innovation of tissue heart valves.",
    "output": "[Cause] Edwards Lifesciences knows how to maintain leadership through innovation of tissue heart valves [Relation] enable [Effect] Over the last two decades, Edwards Lifesciences has demonstrated leadership",
    "gold": "[Cause] through innovation of tissue heart valves [Relation] enable [Effect] Over the last two decades, Edwards Lifesciences has demonstrated that it knows how to maintain leadership",
    "valid": false
  },
  {
    "input": "Additionally, biopharma consolidation could result in periods of disruption as a newly merged company may deprioritize some early-stage work or freeze trials while weighing integration strategy.",
    "output": "[Cause] biopharma consolidation [Relation] cause [Effect] periods of disruption",
    "gold": "[Cause] a newly merged company may deprioritize some early-stage work or freeze trials while weighing integration strategy [Relation] cause [Effect] biopharma consolidation could result in periods of disruption",
    "valid": false
  },
  {
    "input": "Moaty operators in our coverage tend to generate superior returns on invested capital, boast comparable sales outperformance relative to peers, and frequently generate compelling store-level economics, resulting in heightened franchisee interest and unit growth.",
    "output": "[Cause] Moaty operators tend to generate superior returns on invested capital; boast comparable sales outperformance relative to peers; frequently generate compelling store-level economics [Relation] cause [Effect] heightened franchisee interest and unit growth",
    "gold": "[Cause] Moaty operators in our coverage tend to generate superior returns on invested capital, boast comparable sales outperformance relative to peers, and frequently generate compelling store-level economics [Relation] cause [Effect] heightened franchisee interest and unit growth",
    "valid": false
  },
  {
    "input": "In the next 10 years, we expect operating margins to increase from 2021's 17.4% to 19%, driven primarily by improvements in the international segments.",
    "output": "[Cause] improvements in the international segments [Relation] cause [Effect] operating margins to increase from 2021's 17.4% to 19%",
    "gold": "[Cause] improvements in the international segments [Relation] enable [Effect] operating margins to increase from 2021's 17.4% to 19%",
    "valid": true
  },
  {
    "input": "Air travel customers are generally price-sensitive, so carbon taxes or other regulations that force consumers to pay for the carbon side effects of travel would likely reduce aircraft demand.",
    "output": "[Cause] carbon taxes or other regulations that force consumers to pay for the carbon side effects of travel [Relation] cause [Effect] likely reduce aircraft demand",
    "gold": "[Cause] Air travel customers are generally price-sensitive [Relation] cause [Effect] carbon taxes or other regulations that force consumers to pay for the carbon side effects of travel would likely reduce aircraft demand",
    "valid": false
  },
  {
    "input": "We believe that HPE is a benefactor of enterprises spending on hybrid cloud environments, edge computing, and all-flash array storage; however, we expect market competitors in the industry-standard server and storage businesses to inhibit HPE's long-term operating performance.",
    "output": "[Cause] enterprises spending on hybrid cloud environments, edge computing, and all-flash array storage [Relation] enable [Effect] HPE is a benefactor",
    "gold": "[Cause] market competitors in the industry-standard server and storage businesses [Relation] prevent [Effect] inhibit HPE's long-term operating performance",
    "valid": false
  },
  {
    "input": "We forecast that the coronavirus crisis will cause a 30% drop in its revenue in 2020 and a huge operating loss.",
    "output": "[Cause] the coronavirus crisis [Relation] cause [Effect] a 30% drop in revenue in 2020 and a huge operating loss",
    "gold": "[Cause] the coronavirus crisis [Relation] cause [Effect] a 30% drop in its revenue in 2020 and a huge operating loss",
    "valid": false
  },
  {
    "input": "Though the probability is very remote, a devastating accident like the BP Macondo disaster in 2010 could have a material adverse impact on APA (which could be forced to cover cleanup costs and perhaps face other legal repercussions).",
    "output": "[Cause] a devastating accident like the BP Macondo disaster in 2010 [Relation] cause [Effect] a material adverse impact on APA (which could be forced to cover cleanup costs and perhaps face other legal repercussions)",
    "gold": "[Cause] a devastating accident like the BP Macondo disaster in 2010 [Relation] enable [Effect] could have a material adverse impact on APA",
    "valid": false
  },
  {
    "input": "We think CoreSite's smaller footprint gives it greater opportunity for operating leverage, and, after a dip in the near term due to higher real estate rents and taxes, we project adjusted EBITDA margin to rise about 600 basis points between 2020 and 2030, to about 60%.",
    "output": "[Cause] CoreSite's smaller footprint gives it greater opportunity for operating leverage [Relation] cause [Effect] projected adjusted EBITDA margin to rise about 600 basis points between 2020 and 2030, to about 60%",
    "gold": "[Cause] higher real estate rents and taxes, we project adjusted EBITDA margin to rise about 600 basis points between 2020 and 2030, to about 60% [Relation] cause [Effect] We think CoreSite's smaller footprint gives it greater opportunity for operating leverage, and, after a dip in the near term",
    "valid": false
  },
  {
    "input": "As such, during the early 1990s, the company was protected on the basis of its patent portfolio, which shielded the company from direct competition in cellulose-reinforced fibre cement products.",
    "output": "[Cause] the company was protected on the basis of its patent portfolio [Relation] enable [Effect] shielded the company from direct competition in cellulose-reinforced fibre cement products",
    "gold": "[Cause] its patent portfolio [Relation] cause [Effect] the company was protected",
    "valid": false
  },
  {
    "input": "With output per employee nearly tripling since 1990, bringing antiquated capacity on line comes with substantially higher cash costs, which in turn drives significant price appreciation.",
    "output": "[Cause] bringing antiquated capacity on line comes with substantially higher cash costs [Relation] cause [Effect] drives significant price appreciation",
    "gold": "[Cause] output per employee nearly tripling since 1990 [Relation] cause [Effect] bringing antiquated capacity on line comes with substantially higher cash costs",
    "valid": false
  },
  {
    "input": "With output per employee nearly tripling since 1990, bringing antiquated capacity on line comes with substantially higher cash costs, which in turn drives significant price appreciation.",
    "output": "[Cause] bringing antiquated capacity online [Relation] cause [Effect] substantially higher cash costs",
    "gold": "[Cause] bringing antiquated capacity on line comes with substantially higher cash costs [Relation] cause [Effect] drives significant price appreciation",
    "valid": false
  },
  {
    "input": "Network service providers would be loath to build up a replica in another location as long as existing locations meet their needs because of the time and expense of connecting their networks to new buildings.",
    "output": "[Cause] existing locations meet their needs [Relation] prevent [Effect] Network service providers would be loath to build up a replica in another location",
    "gold": "[Cause] the time and expense of connecting their networks to new buildings [Relation] cause [Effect] Network service providers would be loath to build up a replica in another location as long as existing locations meet their needs",
    "valid": false
  },
  {
    "input": "Despite this, we believe the normalized gross margin should continue to trend up, as we expect scale, utilization rates and cost efficiencies will continue to improve in the longer term.",
    "output": "[Cause] scale, utilization rates, and cost efficiencies will continue to improve [Relation] enable [Effect] normalized gross margin should continue to trend up",
    "gold": "[Cause] we expect scale, utilization rates and cost efficiencies will continue to improve in the longer term [Relation] cause [Effect] we believe the normalized gross margin should continue to trend up",
    "valid": false
  },
  {
    "input": "Before the merger, both businesses have done a solid job refreshing their product portfolios, and we believe that the combination will result in a broader portfolio of complementary products and solutions that will solidify Ingersoll-Rand's competitive position.",
    "output": "[Cause] both businesses have done a solid job refreshing their product portfolios [Relation] enable, strengthen [Effect] combination will result in a broader portfolio of complementary products and solutions",
    "gold": "[Cause] the combination [Relation] enable [Effect] a broader portfolio of complementary products and solutions",
    "valid": false
  },
  {
    "input": "Before the merger, both businesses have done a solid job refreshing their product portfolios, and we believe that the combination will result in a broader portfolio of complementary products and solutions that will solidify Ingersoll-Rand's competitive position.",
    "output": "[Cause] both businesses have done a solid job refreshing their product portfolios [Relation] enable [Effect] the combination will result in a broader portfolio of complementary products and solutions that will solidify Ingersoll-Rand's competitive position",
    "gold": "[Cause] the combination [Relation] enable [Effect] solidify Ingersoll-Rand's competitive position",
    "valid": false
  },
  {
    "input": "The barrier is higher relative to metasearch in that it takes time to gather reviews after you have constructed the metasearch platform.",
    "output": "[Cause] it takes time to gather reviews after you have constructed the metasearch platform [Relation] cause [Effect] The barrier is higher relative to metasearch",
    "gold": "[Cause] it takes time to gather reviews after you have constructed the metasearch platform [Relation] cause [Effect] The barrier is higher relative to metasearch",
    "valid": true
  },
  {
    "input": "Reckitt does not disclose its marketing costs, but we estimate it at around 14% of sales, and its R&D expenditure of around 2% of sales in 2020 implies that it is spending less on customer acquisition than its competitors.",
    "output": "[Cause] Reckitt is spending less on customer acquisition than its competitors [Relation] cause [Effect] marketing costs estimated at around 14% of sales, R&D expenditure of around 2% of sales in 2020",
    "gold": "[Cause] its R&D expenditure of around 2% of sales in 2020 [Relation] enable [Effect] it is spending less on customer acquisition than its competitors",
    "valid": false
  },
  {
    "input": "Globally, Hilton has large scale, with midsingle digit share of existing industry rooms, which is set to expand further given the company's roughly 20% room share of the industry's pipeline under construction.",
    "output": "[Cause] Hilton has large scale, with midsingle digit share of existing industry rooms [Relation] cause [Effect] set to expand further given the company's roughly 20% room share of the industry's pipeline under construction",
    "gold": "[Cause] given the company's roughly 20% room share of the industry's pipeline under construction [Relation] enable [Effect] Globally, Hilton has large scale, with midsingle digit share of existing industry rooms, which is set to expand further",
    "valid": false
  },
  {
    "input": "Finally, the risk of a water shortage would have limited financial impact for Heineken, as we estimate it represents a low-single-digit percentage of cost of goods sold.",
    "output": "[Cause] the risk of a water shortage [Relation] mitigate [Effect] limited financial impact for Heineken",
    "gold": "[Cause] the risk of a water shortage [Relation] cause [Effect] limited financial impact for Heineken",
    "valid": true
  },
  {
    "input": "Finally, the risk of a water shortage would have limited financial impact for Heineken, as we estimate it represents a low-single-digit percentage of cost of goods sold.",
    "output": "[Cause] the risk of a water shortage [Relation] cause [Effect] limited financial impact for Heineken",
    "gold": "[Cause] it represents a low-single-digit percentage of cost of goods sold [Relation] cause [Effect] the risk of a water shortage would have limited financial impact for Heineken",
    "valid": false
  },
  {
    "input": "Would-be entrants are fended off by the steep barrier to entry formed by the need to obtain contiguous rights of way on which to lay continuously welded steel rail spanning a significant portion of North America.",
    "output": "[Cause] the need to obtain contiguous rights of way on which to lay continuously welded steel rail [Relation] prevent [Effect] Would-be entrants are fended off by the steep barrier to entry",
    "gold": "[Cause] the steep barrier to entry [Relation] prevent [Effect] Would-be entrants",
    "valid": false
  },
  {
    "input": "Would-be entrants are fended off by the steep barrier to entry formed by the need to obtain contiguous rights of way on which to lay continuously welded steel rail spanning a significant portion of North America.",
    "output": "[Cause] the steep barrier to entry formed by the need to obtain contiguous rights of way on which to lay continuously welded steel rail spanning a significant portion of North America [Relation] prevent [Effect] Would-be entrants are fended off",
    "gold": "[Cause] the need to obtain contiguous rights of way on which to lay continuously welded steel rail spanning a significant portion of North America [Relation] cause [Effect] the steep barrier to entry",
    "valid": false
  },
  {
    "input": "If recalls or product failure were to become a regular event, current surgeons loyal to Smith & Nephew may consider switching to another company's implants and instrumentation.",
    "output": "[Cause] recalls or product failure becoming a regular event [Relation] cause [Effect] current surgeons loyal to Smith & Nephew may consider switching to another company's implants and instrumentation",
    "gold": "[Cause] recalls or product failure were to become a regular event [Relation] cause [Effect] current surgeons loyal to Smith & Nephew may consider switching to another company's implants and instrumentation",
    "valid": false
  },
  {
    "input": "Also, once customers are comfortable with a product, they are unlikely to change lenses for a minor improvement or small reduction in price.",
    "output": "[Cause] customers are comfortable with a product [Relation] cause [Effect] they are unlikely to change lenses for a minor improvement or small reduction in price",
    "gold": "[Cause] customers are comfortable with a product [Relation] cause [Effect] they are unlikely to change lenses for a minor improvement or small reduction in price",
    "valid": true
  },
  {
    "input": "The asset integration prevents another third party from extracting rents by owning an asset that is part of the route to the most profitable market.",
    "output": "[Cause] asset integration [Relation] prevent [Effect] prevents another third party from extracting rents by owning an asset that is part of the route to the most profitable market",
    "gold": "[Cause] owning an asset that is part of the route to the most profitable market [Relation] cause [Effect] The asset integration prevents another third party from extracting rents",
    "valid": false
  },
  {
    "input": "With increasingly complex enterprise IT infrastructures, businesses need to think twice before switching databases, which are interconnected to many systems across a business, thus requiring much time and money for reintegration.",
    "output": "[Cause] databases are interconnected to many systems across a business and enterprise IT infrastructures are increasingly complex [Relation] cause [Effect] businesses need to think twice before switching databases",
    "gold": "[Cause] interconnected to many systems across a business [Relation] cause [Effect] requiring much time and money for reintegration",
    "valid": false
  },
  {
    "input": "With increasingly complex enterprise IT infrastructures, businesses need to think twice before switching databases, which are interconnected to many systems across a business, thus requiring much time and money for reintegration.",
    "output": "[Cause] interconnected databases to many systems across a business [Relation] cause [Effect] requiring much time and money for reintegration",
    "gold": "[Cause] requiring much time and money for reintegration [Relation] enable [Effect] businesses need to think twice before switching databases",
    "valid": false
  },
  {
    "input": "With increasingly complex enterprise IT infrastructures, businesses need to think twice before switching databases, which are interconnected to many systems across a business, thus requiring much time and money for reintegration.",
    "output": "[Cause] increasingly complex enterprise IT infrastructures [Relation] cause [Effect] businesses need to think twice before switching databases",
    "gold": "[Cause] increasingly complex enterprise IT infrastructures [Relation] enable [Effect] businesses need to think twice before switching databases",
    "valid": true
  },
  {
    "input": "We believe it will be challenging to obtain management's five-year outlook for 20%-30% compound average annual revenue growth in light of the fierce competition, potential decline of overall (elective) volumes in the weaker environment, and friction to convert the remaining orthodontics from traditional wire and bracket.",
    "output": "[Cause] fierce competition, potential decline of overall (elective) volumes in the weaker environment, friction to convert the remaining orthodontics from traditional wire and bracket [Relation] cause [Effect] challenging to obtain management's five-year outlook for 20%-30% compound average annual revenue growth",
    "gold": "[Cause] the fierce competition, potential decline of overall (elective) volumes in the weaker environment, and friction to convert the remaining orthodontics from traditional wire and bracket [Relation] cause [Effect] We believe it will be challenging to obtain management's five-year outlook for 20%-30% compound average annual revenue growth",
    "valid": false
  },
  {
    "input": "To meet demand, higher cost supply will need to come online from lower quality resources that will require higher processing costs.",
    "output": "[Cause] higher cost supply will need to come online from lower quality resources [Relation] cause [Effect] require higher processing costs",
    "gold": "[Cause] meet demand [Relation] cause [Effect] higher cost supply will need to come online from lower quality resources",
    "valid": false
  },
  {
    "input": "To meet demand, higher cost supply will need to come online from lower quality resources that will require higher processing costs.",
    "output": "[Cause] higher cost supply will need to come online from lower quality resources [Relation] cause [Effect] require higher processing costs",
    "gold": "[Cause] higher cost supply will need to come online from lower quality resources [Relation] cause [Effect] require higher processing costs",
    "valid": true
  },
  {
    "input": "Hyperconverged infrastructure and software-defined networking are budding IT equipment trends as enterprises enjoy flexible scalability of their computing and storage resources.",
    "output": "[Cause] Hyperconverged infrastructure and software-defined networking are budding IT equipment trends [Relation] enable [Effect] enterprises enjoy flexible scalability of their computing and storage resources",
    "gold": "[Cause] enterprises enjoy flexible scalability of their computing and storage resources [Relation] cause [Effect] Hyperconverged infrastructure and software-defined networking are budding IT equipment trends",
    "valid": false
  },
  {
    "input": "Since the software sales process across the enterprise will regularly touch the IT department, ServiceNow adopted a stance early on that it would let the internal IT function sell the platform to other areas of the customer.",
    "output": "[Cause] the software sales process across the enterprise will regularly touch the IT department [Relation] enable [Effect] ServiceNow adopted a stance early on that it would let the internal IT function sell the platform to other areas of the customer",
    "gold": "[Cause] the software sales process across the enterprise will regularly touch the IT department [Relation] cause [Effect] ServiceNow adopted a stance early on that it would let the internal IT function sell the platform to other areas of the customer",
    "valid": true
  },
  {
    "input": "Coal has historically made up a larger proportion of CP's portfolio than it does for peer CN due to the former's agreement with Teck Resources to haul cost-advantaged metallurgical coal for export.",
    "output": "[Cause] CP's agreement with Teck Resources to haul cost-advantaged metallurgical coal for export [Relation] enable [Effect] Coal has historically made up a larger proportion of CP's portfolio than it does for peer CN",
    "gold": "[Cause] the former's agreement with Teck Resources to haul cost-advantaged metallurgical coal for export [Relation] cause [Effect] Coal has historically made up a larger proportion of CP's portfolio than it does for peer CN",
    "valid": false
  },
  {
    "input": "Original equipment manufacturers are willing to pay a premium to vendors for technology that differentiates automakers' vehicles, reduces vehicle weight, improves fuel efficiency, reduces emissions, improves safety, or lowers costs.",
    "output": "[Cause] technology that differentiates automakers' vehicles, reduces vehicle weight, improves fuel efficiency, reduces emissions, improves safety, or lowers costs [Relation] enable [Effect] Original equipment manufacturers are willing to pay a premium to vendors.",
    "gold": "[Cause] differentiates automakers' vehicles, reduces vehicle weight, improves fuel efficiency, reduces emissions, improves safety, or lowers costs [Relation] enable [Effect] Original equipment manufacturers are willing to pay a premium to vendors for technology",
    "valid": false
  },
  {
    "input": "To expand its customer base beyond the data centers of hyperscale cloud providers, enterprises, service providers, and financial institutions, Arista announced its intention to expand into the campus market.",
    "output": "[Cause] Arista's intention to expand into the campus market [Relation] enable [Effect] To expand its customer base beyond the data centers of hyperscale cloud providers, enterprises, service providers, and financial institutions",
    "gold": "[Cause] To expand its customer base beyond the data centers of hyperscale cloud providers, enterprises, service providers, and financial institutions [Relation] cause [Effect] Arista announced its intention to expand into the campus market",
    "valid": false
  },
  {
    "input": "We expect growth will level out due to tougher comparisons with prior quarters and overall decreased demand for PPE as North America approaches herd immunity.",
    "output": "[Cause] tougher comparisons with prior quarters and overall decreased demand for PPE as North America approaches herd immunity [Relation] cause [Effect] growth will level out",
    "gold": "[Cause] tougher comparisons with prior quarters and overall decreased demand for PPE as North America approaches herd immunity [Relation] cause [Effect] growth will level out",
    "valid": true
  },
  {
    "input": "Positively within the COVID-19 crisis, Centene may benefit from the switch to social safety net programs, like Medicaid and the individual exchanges, creating uncertainty on the upside in the near term.",
    "output": "[Cause] switch to social safety net programs, like Medicaid and the individual exchanges [Relation] enable [Effect] Centene may benefit from the switch",
    "gold": "[Cause] Centene may benefit from the switch to social safety net programs [Relation] cause [Effect] creating uncertainty on the upside in the near term",
    "valid": false
  },
  {
    "input": "We think the runaway cost of living in West Coast metros is an area of concern, given that this has the potential to push the tech industry's center of gravity away from these high-cost regions.",
    "output": "[Cause] the runaway cost of living in West Coast metros [Relation] cause [Effect] the potential to push the tech industry's center of gravity away from these high-cost regions",
    "gold": "[Cause] this has the potential to push the tech industry's center of gravity away from these high-cost regions [Relation] cause [Effect] the runaway cost of living in West Coast metros is an area of concern",
    "valid": false
  },
  {
    "input": "Longer term, as smartphone demand recovers, we think Qorvo's adjusted operating margins will remain in the low 30% range, in line with management's target for 30% plus adjusted operating margins.",
    "output": "[Cause] smartphone demand recovers [Relation] enable [Effect] Qorvo's adjusted operating margins will remain in the low 30% range",
    "gold": "[Cause] smartphone demand recovers [Relation] cause [Effect] Qorvo's adjusted operating margins will remain in the low 30% range",
    "valid": true
  },
  {
    "input": "In recent years, Norfolk renewed its commitment to pricing discipline and margin gains, particularly via precision railroading initiatives, which are driving more efficient use of locomotive assets, labor, and fuel.",
    "output": "[Cause] precision railroading initiatives driving more efficient use of locomotive assets, labor, and fuel [Relation] enable [Effect] Norfolk renewed its commitment to pricing discipline and margin gains",
    "gold": "[Cause] Norfolk renewed its commitment to pricing discipline and margin gains [Relation] enable [Effect] driving more efficient use of locomotive assets, labor, and fuel",
    "valid": false
  },
  {
    "input": "Truist has only been adding to its strength in insurance with the acquisition of Regions Insurance Group as well as multiple smaller acquisitions in 2020.",
    "output": "[Cause] the acquisition of Regions Insurance Group as well as multiple smaller acquisitions in 2020 [Relation] enable [Effect] Truist has only been adding to its strength in insurance",
    "gold": "[Cause] Truist has only been adding to its strength in insurance with the acquisition of Regions Insurance Group [Relation] cause [Effect] multiple smaller acquisitions in 2020",
    "valid": false
  },
  {
    "input": "We assign Synaptics a high uncertainty rating, lowered from very high due to recent IoT acquisitions that we think will help the firm diversify its business beyond the smartphone component space.",
    "output": "[Cause] recent IoT acquisitions [Relation] enable [Effect] help the firm diversify its business beyond the smartphone component space",
    "gold": "[Cause] recent IoT acquisitions [Relation] cause [Effect] We assign Synaptics a high uncertainty rating, lowered from very high",
    "valid": false
  },
  {
    "input": "Burlington can lift margins, but we believe competition, the need to keep value high (necessitating reinvestment of savings from cost leverage), and rising wages limit their potential.",
    "output": "[Cause] competition, the need to keep value high (necessitating reinvestment of savings from cost leverage), and rising wages [Relation] prevent [Effect] limit the potential for Burlington to lift margins",
    "gold": "[Cause] competition, the need to keep value high (necessitating reinvestment of savings from cost leverage), and rising wages [Relation] cause [Effect] limit their potential",
    "valid": false
  },
  {
    "input": "In addition, the firm could come under increased regulatory oversight if authorities decide to step up the pressure on packaged food companies to curb obesity, particularly on its home turf.",
    "output": "[Cause] authorities decide to step up the pressure on packaged food companies to curb obesity, particularly on its home turf [Relation] cause [Effect] the firm could come under increased regulatory oversight",
    "gold": "[Cause] the firm could come under increased regulatory oversight if authorities decide to step up the pressure on packaged [Relation] cause [Effect] food companies to curb obesity, particularly on its home turf",
    "valid": false
  },
  {
    "input": "The ISI Group acquisition in 2014 materially diversified Evercore's business and was an accelerant to the equities business attaining a profitable scale.",
    "output": "[Cause] The ISI Group acquisition in 2014 [Relation] cause [Effect] materially diversified Evercore's business",
    "gold": "[Cause] The ISI Group acquisition in 2014 materially [Relation] enable [Effect] diversified Evercore's business and was an accelerant to the equities business attaining a profitable scale",
    "valid": false
  },
  {
    "input": "We believe that \"\"GTA Online\"\" and this stream of free content works with the franchise's well-established single-player experience to help \"\"Grand Theft Auto V\"\" effectively become an annual release. This virtual annual release effectively spreads the high development cost of the base game over several years and a larger number of sold copies.",
    "output": "[Cause] the stream of free content and the franchise's well-established single-player experience [Relation] enable [Effect] \"Grand Theft Auto V\" effectively becomes an annual release and spreads the high development cost of the base game over several years and a larger number of sold copies",
    "gold": "[Cause] \"\"GTA Online\"\" and this stream of free content works with the franchise's well-established single-player experience to help \"\"Grand Theft Auto V\"\" effectively become an annual release [Relation] cause [Effect] release effectively spreads the high development cost of the base game over several years and a larger number of sold copies",
    "valid": false
  },
  {
    "input": "During periods of tightening supply when air and ocean carriers tend to boost rates, Expeditors sees gross-margin compression (and thus lower net revenue growth), driven by the time lag associated with renegotiating higher capacity rates to shippers.",
    "output": "[Cause] tightening supply when air and ocean carriers tend to boost rates [Relation] cause [Effect] Expeditors sees gross-margin compression (and thus lower net revenue growth), driven by the time lag associated with renegotiating higher capacity rates to shippers",
    "gold": "[Cause] the time lag associated with renegotiating higher capacity rates to shippers [Relation] cause [Effect] Expeditors sees gross-margin compression",
    "valid": false
  },
  {
    "input": "The products segment has built a sizable share of the public safety radio market in the United States through establishing switching costs in its offerings over the years.",
    "output": "[Cause] establishing switching costs in its offerings over the years [Relation] cause [Effect] The products segment has built a sizable share of the public safety radio market in the United States",
    "gold": "[Cause] establishing switching costs in its offerings over the years [Relation] enable [Effect] The products segment has built a sizable share of the public safety radio market in the United States",
    "valid": true
  },
  {
    "input": "We believe the firm's high-quality assets in the country will allow growth to return to midsingle digits over the next couple years on increasing wireless market share, improved pricing, and growing penetration in the cable business.",
    "output": "[Cause] high-quality assets in the country, increasing wireless market share, improved pricing, and growing penetration in the cable business [Relation] enable [Effect] growth to return to midsingle digits over the next couple of years",
    "gold": "[Cause] increasing wireless market share, improved pricing, and growing penetration in the cable business [Relation] enable [Effect] growth to return to midsingle digits over the next couple years",
    "valid": false
  },
  {
    "input": "Headquartered in Ireland, the company benefits from a lower tax rate than its peers, and we model a blended tax rate of 17% for 2021 based on the PRA acquisition.",
    "output": "[Cause] the company benefits from a lower tax rate than its peers [Relation] enable [Effect] we model a blended tax rate of 17% for 2021 based on the PRA acquisition",
    "gold": "[Cause] for 2021 based on the PRA acquisition [Relation] cause [Effect] we model a blended tax rate of 17%",
    "valid": false
  },
  {
    "input": "However, we believe competition in the global specialty coffee category will become more pronounced in a post-COVID-19 environment due to aggressive expansion plans from existing and emerging players and daypart expansion from quick-service restaurant chains.",
    "output": "[Cause] aggressive expansion plans from existing and emerging players and daypart expansion from quick-service restaurant chains [Relation] cause [Effect] competition in the global specialty coffee category will become more pronounced in a post-COVID-19 environment",
    "gold": "[Cause] aggressive expansion plans from existing and emerging players and daypart expansion from quick-service restaurant chains [Relation] cause [Effect] competition in the global specialty coffee category will become more pronounced in a post-COVID-19 environment",
    "valid": true
  },
  {
    "input": "In the event of a power loss, these emergency lighting solutions must be able to automatically override any control setting and establish the appropriate illumination level in the event of a power failure. This requires that the entire lighting system and related equipment be tested to comply with code, including switches, sensors, dimmers, and energy management and bypass equipment.",
    "output": "[Cause] emergency lighting solutions must be able to automatically override any control setting and establish the appropriate illumination level in the event of a power failure [Relation] require [Effect] the entire lighting system and related equipment be tested to comply with code, including switches, sensors, dimmers, and energy management and bypass equipment",
    "gold": "[Cause] the entire lighting system and related equipment be tested to comply with code, including switches, sensors, dimmers, and energy management and bypass equipment [Relation] enable [Effect] these emergency lighting solutions must be able to automatically override any control setting and establish the appropriate illumination level in the event of a power failure",
    "valid": false
  },
  {
    "input": "Estee's 2016 acquisition of Too Faced makes the firm an even more important partner in this channel, as this makeup brand has significant exposure in specialty-multi.",
    "output": "[Cause] Estee's 2016 acquisition of Too Faced [Relation] enable [Effect] makes the firm an even more important partner in this channel",
    "gold": "[Cause] this makeup brand has significant exposure in specialty-multi [Relation] cause [Effect] Estee's 2016 acquisition of Too Faced makes the firm an even more important partner in this channel",
    "valid": false
  },
  {
    "input": "Its previously strong brand intangible asset has been degraded by consumer trends that allowed for competition in the intimates space, as the Victoria's Secret (VS) brand failed to adapt to trends.",
    "output": "[Cause] consumer trends that allowed for competition in the intimates space [Relation] cause [Effect] the Victoria's Secret (VS) brand failed to adapt to trends",
    "gold": "[Cause] Victoria's Secret (VS) brand failed to adapt to trends [Relation] cause [Effect] Its previously strong brand intangible asset has been degraded",
    "valid": false
  },
  {
    "input": "Its previously strong brand intangible asset has been degraded by consumer trends that allowed for competition in the intimates space, as the Victoria's Secret (VS) brand failed to adapt to trends.",
    "output": "[Cause] consumer trends that allowed for competition in the intimates space [Relation] cause [Effect] the Victoria's Secret (VS) brand failed to adapt to trends",
    "gold": "[Cause] consumer trends [Relation] cause [Effect] Its previously strong brand intangible asset has been degraded",
    "valid": false
  },
  {
    "input": "Its previously strong brand intangible asset has been degraded by consumer trends that allowed for competition in the intimates space, as the Victoria's Secret (VS) brand failed to adapt to trends.",
    "output": "[Cause] consumer trends that allowed for competition in the intimates space [Relation] cause [Effect] degradation of the previously strong brand intangible asset",
    "gold": "[Cause] Its previously strong brand intangible asset has been degraded [Relation] cause [Effect] competition in the intimates space",
    "valid": false
  },
  {
    "input": "As much of the volatility in helicopter deliveries comes from the volatile market, a large chunk of the volatility in operating earnings comes from the volatility in energy prices, so we see a prolonged oil downturn as a risk factor for the company.",
    "output": "[Cause] volatility in energy prices [Relation] cause [Effect] volatility in operating earnings",
    "gold": "[Cause] much of the volatility in helicopter deliveries comes from the volatile market, a large chunk of the volatility in operating earnings comes from the volatility in energy prices [Relation] cause [Effect] we see a prolonged oil downturn as a risk factor for the company",
    "valid": false
  },
  {
    "input": "Seating is one of the stickiest parts of the supplier sector since it is very difficult to take out an incumbent on a vehicle program, and automakers need suppliers that can consistently deliver high-quality seats in a just-in-time system all over the world.",
    "output": "[Cause] automakers need suppliers that can consistently deliver high-quality seats in a just-in-time system all over the world [Relation] enable [Effect] seating is one of the stickiest parts of the supplier sector",
    "gold": "[Cause] it is very difficult to take out an incumbent on a vehicle program [Relation] cause [Effect] Seating is one of the stickiest parts of the supplier sector",
    "valid": false
  },
  {
    "input": "Crown is limited in how quickly it can set up small cells, leaving an extended period before we think it can fully monetize its fiber.",
    "output": "[Cause] Crown is limited in how quickly it can set up small cells [Relation] cause [Effect] an extended period before we think it can fully monetize its fiber",
    "gold": "[Cause] Crown is limited in how quickly it can set up small cells [Relation] cause [Effect] an extended period before we think it can fully monetize its fiber",
    "valid": true
  },
  {
    "input": "As more vendors join and add more of their solutions, the quantity of data and traffic flowing across Okta's security stack grows.",
    "output": "[Cause] more vendors join and add more of their solutions [Relation] cause [Effect] the quantity of data and traffic flowing across Okta's security stack grows",
    "gold": "[Cause] more vendors join and add more of their solutions [Relation] cause [Effect] the quantity of data and traffic flowing across Okta's security stack grows",
    "valid": true
  },
  {
    "input": "The company has a significant market share so the entry of a new competitor would likely be unlikely but any significant changes to the economy or market dynamics could pose a risk.",
    "output": "[Cause] the entry of a new competitor would likely be unlikely [Relation] prevent [Effect] the company has a significant market share",
    "gold": "[Cause] The company has a significant market share [Relation] cause [Effect] the entry of a new competitor would likely be unlikely",
    "valid": false
  },
  {
    "input": "For example, Boston has maintained its strong position in drug-coated coronary stents and is developing some transcatheter mitral valve repair technologies, building on its footprint in the cardiac and vascular markets.",
    "output": "[Cause] Boston has maintained its strong position in drug-coated coronary stents and is developing some transcatheter mitral valve repair technologies, building on its footprint in the cardiac and vascular markets [Relation] enable [Effect] Boston is able to strengthen its position and expand its presence in the cardiac and vascular markets",
    "gold": "[Cause] its footprint in the cardiac and vascular markets [Relation] enable [Effect] Boston has maintained its strong position in drug-coated coronary stents and is developing some transcatheter mitral valve repair technologies",
    "valid": false
  },
  {
    "input": "The new coal-fired power pricing framework shifts to the \"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"base+floating\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\" mechanism, which will be likely to reduce volatility in margins for coal-power producers.",
    "output": "[Cause] The new coal-fired power pricing framework shifts to the \"base+floating\" mechanism [Relation] cause [Effect] likely to reduce volatility in margins for coal-power producers",
    "gold": "[Cause] The new coal-fired power pricing framework shifts to the \"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"base+floating\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\" mechanism [Relation] cause [Effect] reduce volatility in margins for coal-power producers",
    "valid": false
  },
  {
    "input": "While Accenture has stressed its desire to rely less on commoditized outsourcing, we think that this could pose risks to Accenture's familiarity proposition, which is that switching costs are derived from having such large client accounts.",
    "output": "[Cause] Accenture's desire to rely less on commoditized outsourcing [Relation] cause [Effect] pose risks to Accenture's familiarity proposition",
    "gold": "[Cause] Accenture has stressed its desire to rely less on commoditized outsourcing [Relation] cause [Effect] pose risks to Accenture's familiarity proposition",
    "valid": false
  },
  {
    "input": "We believe the global services business will also support future growth due to greater spares, tool refurbishments, and collaboration with customers to troubleshoot high-value problems that reduce cost, improve product yields, and accelerate new technology ramps.",
    "output": "[Cause] greater spares, tool refurbishments, and collaboration with customers to troubleshoot high-value problems [Relation] enable [Effect] support future growth",
    "gold": "[Cause] greater spares, tool refurbishments, and collaboration with customers to troubleshoot high-value problems [Relation] cause [Effect] support future growth",
    "valid": true
  },
  {
    "input": "We think Autodesk has so widely embraced what many companies would avoid because it is well aware that the brunt of its switching costs aren't in the loss and transfer of design and model data, but rather the training of its software (which can take years to master).",
    "output": "[Cause] Autodesk is well aware that the brunt of its switching costs aren't in the loss and transfer of design and model data [Relation] cause [Effect] Autodesk has widely embraced what many companies would avoid",
    "gold": "[Cause] it is well aware that the brunt of its switching costs aren't in the loss and transfer of design and model data, but rather the training of its software [Relation] cause [Effect] We think Autodesk has so widely embraced",
    "valid": false
  },
  {
    "input": "We are raising our fair value estimate to $15.10 per share from $11, driven by stronger demand for Myriad's prenatal and Prolaris testing units and cash benefit from its planned divestitures.",
    "output": "[Cause] stronger demand for Myriad's prenatal and Prolaris testing units and cash benefit from its planned divestitures [Relation] cause [Effect] raising our fair value estimate to $15.10 per share from $11",
    "gold": "[Cause] stronger demand for Myriad's prenatal and Prolaris testing units and cash benefit from its planned divestitures [Relation] cause [Effect] raising our fair value estimate to $15.10 per share from $11",
    "valid": true
  },
  {
    "input": "The shares came under additional pressure in late October 2020 after FirstEnergy's CEO and four others resigned in the wake of the scandal.",
    "output": "[Cause] FirstEnergy's CEO and four others resigned in the wake of the scandal [Relation] cause [Effect] The shares came under additional pressure in late October 2020",
    "gold": "[Cause] FirstEnergy's CEO and four others resigned in the wake of the scandal [Relation] cause [Effect] The shares came under additional pressure in late October 2020",
    "valid": true
  },
  {
    "input": "We anticipate robust companion animal growth will be primarily fed by the adoption of a series of new products, a larger base of analyzers, sales of ancillary services, and growing strength in consumables and reference labs.",
    "output": "[Cause] the adoption of a series of new products, a larger base of analyzers, sales of ancillary services, and growing strength in consumables and reference labs [Relation] enable [Effect] robust companion animal growth",
    "gold": "[Cause] the adoption of a series of new products, a larger base of analyzers, sales of ancillary services, and growing strength in consumables and reference labs [Relation] cause [Effect] robust companion animal growth",
    "valid": true
  },
  {
    "input": "We also expect a strong recovery in Spanish fee income as transactional activity normalises and asset management fees that will benefit from a recovery in assets under management, or AUM.",
    "output": "[Cause] transactional activity normalizes and recovery in assets under management (AUM) [Relation] cause [Effect] strong recovery in Spanish fee income",
    "gold": "[Cause] a recovery in assets under management, or AUM [Relation] enable [Effect] asset management fees that will benefit",
    "valid": false
  },
  {
    "input": "We don't foresee any deterioration in Snap-on's return on invested capital, as any competition in its tools business will likely be offset by an increase in high-margin diagnostic software sales.",
    "output": "[Cause] increase in high-margin diagnostic software sales [Relation] offset [Effect] competition in its tools business will likely be offset",
    "gold": "[Cause] any competition in its tools business will likely be offset by an increase in high-margin diagnostic software sales [Relation] cause [Effect] We don't foresee any deterioration in Snap-on's return on invested capital",
    "valid": false
  },
  {
    "input": "TI and its chipmaking peers tend to profit from these high switching costs by having lower ongoing R&amp;D and capital expenditure investments than digital chipmakers, which helps to contribute to healthy returns on capital for shareholders.",
    "output": "[Cause] lower ongoing R&D and capital expenditure investments than digital chipmakers [Relation] enable [Effect] contribute to healthy returns on capital for shareholders",
    "gold": "[Cause] TI and its chipmaking peers tend to profit from these high switching costs by having lower ongoing R&amp;D [Relation] enable [Effect] capital expenditure investments than digital chipmakers",
    "valid": false
  },
  {
    "input": "We have not modeled significant changes in our 10-year average gross margins, as we believe WPP's efficiencies in talent management (either per account or per project) will offset growth in compensation and slightly lower long-term margins on digital ads.",
    "output": "[Cause] WPP's efficiencies in talent management (either per account or per project) [Relation] offset [Effect] offset growth in compensation and slightly lower long-term margins on digital ads",
    "gold": "[Cause] WPP's efficiencies in talent management (either per account or per project) will offset growth in compensation and slightly lower long-term margins on digital ads [Relation] cause [Effect] have not modeled significant changes in our 10-year average gross margins",
    "valid": false
  },
  {
    "input": "We believe Trip.com has strengthened its leading position among Chinese online travel agencies after market consolidation, and is the beneficiary of rising disposable income and demand for domestic and international travel.",
    "output": "[Cause] market consolidation [Relation] enable [Effect] Trip.com has strengthened its leading position among Chinese online travel agencies",
    "gold": "[Cause] market consolidation [Relation] enable [Effect] Trip.com has strengthened its leading position among Chinese online travel agencies",
    "valid": true
  },
  {
    "input": "We believe Trip.com has strengthened its leading position among Chinese online travel agencies after market consolidation, and is the beneficiary of rising disposable income and demand for domestic and international travel.",
    "output": "[Cause] market consolidation | rising disposable income and demand for domestic and international travel [Relation] cause [Effect] Trip.com has strengthened its leading position among Chinese online travel agencies",
    "gold": "[Cause] market consolidation [Relation] enable [Effect] the beneficiary of rising disposable income and demand for domestic and international travel",
    "valid": false
  },
  {
    "input": "Additionally, with the torrid growth that hard seltzer and flavored malt beverages have to offer, a slew of new entrants have increased the competitive fervor in those markets.",
    "output": "[Cause] a slew of new entrants [Relation] cause [Effect] increased the competitive fervor in those markets",
    "gold": "[Cause] the torrid growth that hard seltzer and flavored malt beverages have to offer [Relation] cause [Effect] a slew of new entrants",
    "valid": false
  },
  {
    "input": "Additionally, with the torrid growth that hard seltzer and flavored malt beverages have to offer, a slew of new entrants have increased the competitive fervor in those markets.",
    "output": "[Cause] a slew of new entrants [Relation] cause [Effect] increased competitive fervor in those markets",
    "gold": "[Cause] a slew of new entrants [Relation] cause [Effect] increased the competitive fervor in those markets",
    "valid": false
  },
  {
    "input": "We believe it will take this long as the company's capital expenditures will remain elevated, nearly 21% of sales through our forecast and falling below 9% by 2030, as Canopy expands to meet robust volume growth.",
    "output": "[Cause] the company's capital expenditures will remain elevated, nearly 21% of sales through our forecast [Relation] cause [Effect] falling below 9% by 2030",
    "gold": "[Cause] as Canopy expands to meet robust volume growth [Relation] cause [Effect] We believe it will take this long as the company's capital expenditures will remain elevated, nearly 21% of sales through our forecast and falling below 9% by 2030",
    "valid": false
  },
  {
    "input": "Its previously strong brand intangible asset has been degraded by consumer trends that allowed for competition in the intimates space, as the Victoria's Secret, or VS, brand failed to adapt to trends.",
    "output": "[Cause] consumer trends that allowed for competition in the intimates space [Relation] cause [Effect] degraded previously strong brand intangible asset",
    "gold": "[Cause] the Victoria's Secret, or VS, brand failed to adapt to trends [Relation] cause [Effect] Its previously strong brand intangible asset has been degraded by consumer trends",
    "valid": false
  },
  {
    "input": "Its previously strong brand intangible asset has been degraded by consumer trends that allowed for competition in the intimates space, as the Victoria's Secret, or VS, brand failed to adapt to trends.",
    "output": "[Cause] consumer trends that allowed for competition in the intimates space [Relation] cause [Effect] Its previously strong brand intangible asset degraded",
    "gold": "[Cause] Its previously strong brand intangible asset has been degraded by consumer trends [Relation] enable [Effect] competition in the intimates space",
    "valid": false
  },
  {
    "input": "And as we don't anticipate competitive angst will subside (particularly as supply more closely matches demand going forward), we expect Church will step up its spend in this vein, with our forecast calling for it to allocate around 12% of sales to marketing on average through fiscal 2030.",
    "output": "[Cause] Don't anticipate competitive angst will subside [Relation] cause [Effect] Church will step up its spend in marketing",
    "gold": "[Cause] we don't anticipate competitive angst will subside [Relation] cause [Effect] we expect Church will step up its spend in this vein",
    "valid": false
  },
  {
    "input": "Further, the Guangzhou-Shenzhen-Hong Kong high-speed line commenced in the third quarter of 2018, which resulted in a sharp 50% traffic decline on Guangshen's Kowloon-Guangzhou through train in 2019.",
    "output": "[Cause] the Guangzhou-Shenzhen-Hong Kong high-speed line commenced in the third quarter of 2018 [Relation] cause [Effect] sharp 50% traffic decline on Guangshen's Kowloon-Guangzhou through train in 2019",
    "gold": "[Cause] the Guangzhou-Shenzhen-Hong Kong high-speed line commenced [Relation] cause [Effect] a sharp 50% traffic decline on Guangshen's Kowloon-Guangzhou through train",
    "valid": false
  },
  {
    "input": "Healthineers, the group's other major division, offers medical equipment, which has more countercycle drivers due to the exposure to healthcare treatment demand.",
    "output": "[Cause] exposure to healthcare treatment demand [Relation] cause [Effect] countercycle drivers for medical equipment",
    "gold": "[Cause] the exposure to healthcare treatment demand [Relation] cause [Effect] Healthineers, the group's other major division, offers medical equipment, which has more countercycle drivers",
    "valid": false
  },
  {
    "input": "Further, we expect mix to play a role, with growth in higher-margin real-world evidence trials that use de-identified patient data cohorts as evidence for regulatory approval.",
    "output": "[Cause] growth in higher-margin real-world evidence trials that use de-identified patient data cohorts as evidence for regulatory approval [Relation] enable [Effect] mix to play a role",
    "gold": "[Cause] growth in higher-margin real-world evidence trials that use de-identified patient data cohorts as evidence for regulatory approval [Relation] cause [Effect] mix to play a role",
    "valid": true
  },
  {
    "input": "As result of the network effect, the firm's revenue growth has become increasingly driven by its platform segment which generates revenue from advertising, platform and distribution fees, and licensing. As a result, the Player segment (hardware sales) has fallen from 84% of total revenue in 2015 to 34% in 2019, a period during which total revenue increased from $320 million to $1.1 billion.",
    "output": "[Cause] the network effect [Relation] enable [Effect] the firm's revenue growth has become increasingly driven by its platform segment",
    "gold": "[Cause] the firm's revenue growth has become increasingly driven by its platform segment which generates revenue from advertising, platform and distribution fees, and licensing [Relation] cause [Effect] the Player segment (hardware sales) has fallen from 84% of total revenue in 2015 to 34% in 2019, a period during which total revenue increased from $320 million to $1.1 billion",
    "valid": false
  },
  {
    "input": "Given the expense associated with chip design, the margin for error is virtually nonexistent, so designers are more likely to prefer tools that they are comfortable utilizing and would lead to a lower chance of their making a mistake.",
    "output": "[Cause] the expense associated with chip design, the margin for error is virtually nonexistent [Relation] cause [Effect] designers are more likely to prefer tools that they are comfortable utilizing and would lead to a lower chance of their making a mistake",
    "gold": "[Cause] the expense associated with chip design, the margin for error is virtually nonexistent [Relation] cause [Effect] designers are more likely to prefer tools that they are comfortable utilizing and would lead to a lower chance of their making a mistake",
    "valid": true
  },
  {
    "input": "Worldwide, there are hundreds of lodging management companies but only a few of those currently manage more than 100 properties with Hyatt one of them, making it a prime partner for third-party owners looking to outsource management responsibilities.  As a result of increasing third-party confidence in Hyatt's brands, the company's asset-light business became the majority of adjusted EBITDA (before corporate) in 2018 and reached 57% in 2019, and we estimate it will be around mid-70% in 2029.",
    "output": "[Cause] increasing third-party confidence in Hyatt's brands [Relation] cause [Effect] the company's asset-light business became the majority of adjusted EBITDA (before corporate) in 2018 and reached 57% in 2019, and we estimate it will be around mid-70% in 2029",
    "gold": "[Cause] Worldwide, there are hundreds of lodging management companies but only a few of those currently manage more than 100 properties with Hyatt one of them, making it a prime partner for third-party owners looking to outsource management responsibilities [Relation] cause [Effect] increasing third-party confidence in Hyatt's brands, the company's asset-light business became the majority of adjusted EBITDA (before corporate) in 2018 and reached 57% in 2019, and we estimate it will be around mid-70% in 2029",
    "valid": false
  },
  {
    "input": "While we anticipate the near term will remain choppy, we think its portfolio will prove resilient even in a more challenging economic environment (like the mid- to high-single-digit growth posted in the 2008-09 recession). As such, we continue to expect 3%-4% annual sales growth and mid-20s operating margins on average, 100 basis points above the prior 10-year average.",
    "output": "[Cause] portfolio resilience [Relation] enable [Effect] anticipate 3%-4% annual sales growth and mid-20s operating margins on average, 100 basis points above the prior 10-year average",
    "gold": "[Cause] its portfolio will prove resilient even in a more challenging economic environment (like the mid- to high-single-digit growth posted in the 2008-09 recession) [Relation] cause [Effect] 3%-4% annual sales growth and mid-20s operating margins on average, 100 basis points above the prior 10-year average",
    "valid": false
  },
  {
    "input": "We expect Allegion's operating margin will moderate a bit in 2021 due to faster growth from lower-margin residential products and cost inflation.",
    "output": "[Cause] faster growth from lower-margin residential products and cost inflation [Relation] cause [Effect] Allegion's operating margin will moderate a bit in 2021",
    "gold": "[Cause] faster growth from lower-margin residential products and cost inflation [Relation] enable [Effect] Allegion's operating margin will moderate a bit in 2021",
    "valid": true
  },
  {
    "input": "Our forecast implies market share gains due to the combined businesses of Icon and PRA and results in a five-year projected revenue compound annual growth rate of about 27%, including the impact of the PRA acquisition.",
    "output": "[Cause] market share gains due to the combined businesses of Icon and PRA, including the impact of the PRA acquisition [Relation] cause [Effect] five-year projected revenue compound annual growth rate of about 27%",
    "gold": "[Cause] the combined businesses of Icon and PRA [Relation] cause [Effect] market share gains",
    "valid": false
  },
  {
    "input": "Our forecast implies market share gains due to the combined businesses of Icon and PRA and results in a five-year projected revenue compound annual growth rate of about 27%, including the impact of the PRA acquisition.",
    "output": "[Cause] market share gains due to the combined businesses of Icon and PRA [Relation] cause [Effect] five-year projected revenue compound annual growth rate of about 27%, including the impact of the PRA acquisition",
    "gold": "[Cause] the combined businesses of Icon and PRA [Relation] cause [Effect] a five-year projected revenue compound annual growth rate of about 27%",
    "valid": false
  },
  {
    "input": "Lastly, vaccine hesitancy could plague vaccine-focused firms like Moderna if new concerns about safety issues begin to emerge from the firm's novel mRNA vaccines.",
    "output": "[Cause] new concerns about safety issues begin to emerge from the firm's novel mRNA vaccines [Relation] cause [Effect] vaccine hesitancy could plague vaccine-focused firms like Moderna",
    "gold": "[Cause] new concerns about safety issues begin to emerge from the firm's novel mRNA vaccines [Relation] cause [Effect] vaccine hesitancy could plague vaccine-focused firms like Moderna",
    "valid": true
  },
  {
    "input": "By our estimate, the gap between Progressive's expense ratio and the industry average has added about 5 percentage points annually to the company's return on equity.",
    "output": "[Cause] the gap between Progressive's expense ratio and the industry average [Relation] enable [Effect] added about 5 percentage points annually to the company's return on equity",
    "gold": "[Cause] the gap between Progressive's expense ratio and the industry average [Relation] enable [Effect] added about 5 percentage points annually to the company's return on equity",
    "valid": true
  },
  {
    "input": "Although we believe the company's brand recognition and product positioning drive increased consumer attention and yield some degree of pricing power, our opinion is that location and design offerings are more important than brand reputation for potential luxury homebuyers.",
    "output": "[Cause] location and design offerings are more important than brand reputation for potential luxury homebuyers [Relation] depend [Effect] brand recognition and product positioning drive increased consumer attention and yield some degree of pricing power",
    "gold": "[Cause] company's brand recognition and product positioning [Relation] cause [Effect] increased consumer attention and yield some degree of pricing power",
    "valid": false
  },
  {
    "input": "Both nonexistent switching costs (which could weigh on pricing power intermittently) and delayed innovation in product offerings could act as a drag on performance.",
    "output": "[Cause] Both nonexistent switching costs and delayed innovation in product offerings [Relation] cause [Effect] act as a drag on performance",
    "gold": "[Cause] Both nonexistent switching costs (which could weigh on pricing power intermittently) and delayed innovation in product offerings [Relation] cause [Effect] a drag on performance",
    "valid": false
  },
  {
    "input": "We see this network effect continuing to expand in both developed and emerging markets, as well as vertical markets such as rentals (where it looks to focus 2021 investment to expand supply and awareness in the U.S.) and attractions, resulting in a full connected trip offering.",
    "output": "[Cause] network effect continuing to expand in both developed and emerging markets, as well as vertical markets [Relation] enable [Effect] full connected trip offering",
    "gold": "[Cause] this network effect continuing to expand [Relation] enable [Effect] resulting in a full connected trip offering",
    "valid": false
  },
  {
    "input": "However, we believe Carnival could generate average ROICs, including goodwill (7%) below our weighted average cost of capital over the next decade, hindered by the secular fall out stemming from COVID-19.",
    "output": "[Cause] the secular fall out stemming from COVID-19 [Relation] hindered by [Effect] Carnival could generate average ROICs, including goodwill (7%) below our weighted average cost of capital over the next decade",
    "gold": "[Cause] Carnival could generate average ROICs, including goodwill (7%) below our weighted average cost of capital over the next decade [Relation] prevent [Effect] secular fall out stemming",
    "valid": false
  },
  {
    "input": "Before fiscal 2019, Smucker spent less than 6% of revenue on marketing, but beginning in fiscal 2019, these investments have increased, and are on track to reach 7% by 2022. These initiatives have allowed Smucker to reach 5 million new households, a 10% increase, while lowering nonworking media spending by $30 million, driving a 15% increase in marketing ROI.",
    "output": "[Cause] Beginning in fiscal 2019, these investments have increased [Relation] enable [Effect] Reach 5 million new households, a 10% increase, while lowering nonworking media spending by $30 million and driving a 15% increase in marketing ROI",
    "gold": "[Cause] Smucker spent less than 6% of revenue on marketing, but beginning in fiscal 2019, these investments have increased, and are on track to reach 7% by 2022 [Relation] enable [Effect] Smucker to reach 5 million new households, a 10% increase, while lowering nonworking media spending by $30 million, driving a 15% increase in marketing ROI",
    "valid": false
  },
  {
    "input": "Enterprises traditionally purchased point-based solutions that cover a component of security from the leading specialist; however, integrating multiple software and hardware vendors together becomes cumbersome and difficult to manage as new threats emerge.",
    "output": "[Cause] integrating multiple software and hardware vendors together becomes cumbersome and difficult to manage as new threats emerge [Relation] cause [Effect] Enterprises traditionally purchased point-based solutions that cover a component of security from the leading specialist",
    "gold": "[Cause] new threats emerge [Relation] cause [Effect] integrating multiple software and hardware vendors together becomes cumbersome and difficult to manage",
    "valid": false
  },
  {
    "input": "Rituxan biosimilars and new oral competitors in the blood cancer space should be partly countered by Gazyva's superiority to Rituxan in CLL and indolent/maintenance NHL indications.",
    "output": "[Cause] Gazyva's superiority to Rituxan in CLL and indolent/maintenance NHL indications [Relation] prevent [Effect] partly countered by Rituxan biosimilars and new oral competitors in the blood cancer space",
    "gold": "[Cause] Rituxan biosimilars and new oral competitors in the blood cancer space [Relation] prevent [Effect] be partly countered by Gazyva's superiority to Rituxan in CLL and indolent/maintenance NHL indications.",
    "valid": false
  },
  {
    "input": "We believe Hubbell can hit 16% adjusted operating margins by 2022 as it emerges through its latest rounds of productivity initiatives and despite challenges posed by the global pandemic, including supply chain automation and footprint and back-office consolidation.",
    "output": "[Cause] latest rounds of productivity initiatives, supply chain automation and footprint, back-office consolidation [Relation] enable [Effect] Hubbell can hit 16% adjusted operating margins by 2022",
    "gold": "[Cause] its latest rounds of productivity initiatives [Relation] enable [Effect] Hubbell can hit 16% adjusted operating margins by 2022",
    "valid": false
  },
  {
    "input": "Finally, while we do see some differences in terms of cost structure across various iBuyers, we think these are largely attributable to differences in approach rather than differences in competitive advantage.",
    "output": "[Cause] differences in approach [Relation] cause [Effect] differences in cost structure across various iBuyers",
    "gold": "[Cause] differences in approach [Relation] cause [Effect] some differences in terms of cost structure across various iBuyers",
    "valid": false
  },
  {
    "input": "This includes forecasting tools to ensure that the right product is on hand, the fleet to ensure the trucks are running on time, technology to efficiently route the fleet, and financial systems to ensure orders are processed and billed correctly. As a result, Sysco averages a 98.5% service level, the percent of orders delivered with the requested product (no substitutions), within the designated delivery window, and billed accurately.",
    "output": "[Cause] forecasting tools, fleet management, technology, and financial systems [Relation] enable [Effect] Sysco averages a 98.5% service level",
    "gold": "[Cause] This includes forecasting tools to ensure that the right product is on hand, the fleet to ensure the trucks are running on time, technology to efficiently route the fleet, and financial systems to ensure orders are processed and billed correctly [Relation] cause [Effect] Sysco averages a 98.5% service level, the percent of orders delivered with the requested product (no substitutions), within the designated delivery window, and billed accurately",
    "valid": false
  },
  {
    "input": "Technological shifts such as new mirrorless cameras or simply third-party lenses could provide an opportunity for less-established competitors to gain share and erode Canon's customer base.",
    "output": "[Cause] Technological shifts such as new mirrorless cameras or simply third-party lenses [Relation] enable [Effect] provide an opportunity for less-established competitors to gain share and erode Canon's customer base",
    "gold": "[Cause] Technological shifts such as new mirrorless cameras or simply third-party lenses [Relation] cause [Effect] provide an opportunity for less-established competitors to gain share and erode Canon's customer base",
    "valid": true
  },
  {
    "input": "With the lifting of lockdown restrictions and speed of vaccine rollout representing the key (and unfortunately, exogenous) variables, we've modeled revenue growth of 14.3% and 7.5% in 2021 and 2022, as demand begins to stabilize in key European markets (notably, U.S.",
    "output": "[Cause] lifting of lockdown restrictions and speed of vaccine rollout [Relation] enable [Effect] modeled revenue growth of 14.3% and 7.5% in 2021 and 2022",
    "gold": "[Cause] demand begins to stabilize in key European markets| the lifting of lockdown restrictions and speed of vaccine rollout representing the key (and unfortunately, exogenous) variables [Relation] cause [Effect] we've modeled revenue growth of 14.3% and 7.5% in 2021 and 2022",
    "valid": false
  },
  {
    "input": "The bank's motivation for the acquisition was to expand its banking and insurance operations in one of its home markets, the Netherlands, and further its long-term ambition to grow private banking and asset management of which Fortis would absorb ABN's offering globally.",
    "output": "[Cause] expand its banking and insurance operations in one of its home markets, the Netherlands, and further its long-term ambition to grow private banking and asset management [Relation] cause [Effect] Fortis would absorb ABN's offering globally",
    "gold": "[Cause] expand its banking and insurance operations in one of its home markets, the Netherlands, and further its long-term ambition to grow private banking and asset management [Relation] cause [Effect] the acquisition",
    "valid": false
  },
  {
    "input": "Compounding these pressures, management has more recently articulated its belief that the economy has already turned recessionary and is bound to get materially worse as unemployment rates surge, with the prime point of uncertainty being how long this situation persists.",
    "output": "[Cause] management's belief that the economy has already turned recessionary and is bound to get materially worse [Relation] cause [Effect] pressures are compounded",
    "gold": "[Cause] unemployment rates surge, with the prime point of uncertainty being how long this situation persists [Relation] cause [Effect] Compounding these pressures, management has more recently articulated its belief that the economy has already turned recessionary and is bound to get materially worse",
    "valid": false
  },
  {
    "input": "We view Graco as a GDP-plus business, with its commitment to R&D and continuous innovation driving sales growth slightly above the average industrial production growth rate through new product introductions, expansion into adjacent markets, and market share gains.",
    "output": "[Cause] commitment to R&D and continuous innovation [Relation] cause [Effect] driving sales growth slightly above the average industrial production growth rate through new product introductions, expansion into adjacent markets, and market share gains",
    "gold": "[Cause] new product introductions, expansion into adjacent markets, and market share gains. [Relation] enable [Effect] driving sales growth slightly above the average industrial production growth rate",
    "valid": false
  },
  {
    "input": "We forecast lower lower midcycle steel prices yet, driven by our bearish outlook for Chinese fixed-asset investment and the persistence of structural overcapacity as well as faltering cost support from steelmaking raw materials.",
    "output": "[Cause] our bearish outlook for Chinese fixed-asset investment and the persistence of structural overcapacity as well as faltering cost support from steelmaking raw materials [Relation] cause [Effect] lower midcycle steel prices forecast",
    "gold": "[Cause] our bearish outlook for Chinese fixed-asset investment and the persistence of structural overcapacity as well as faltering cost support from steelmaking raw materials [Relation] cause [Effect] lower lower midcycle steel prices yet",
    "valid": false
  },
  {
    "input": "We have remodeled our interest-rate forecast and our net interest margin projections for the bank considering the current macroeconomic situation.",
    "output": "[Cause] remodeled interest-rate forecast and net interest margin projections [Relation] cause [Effect] considering the current macroeconomic situation",
    "gold": "[Cause] the current macroeconomic situation [Relation] cause [Effect] We have remodeled our interest-rate forecast and our net interest margin projections for the bank",
    "valid": false
  },
  {
    "input": "The ability of Biogen's new oral drug Vumerity to improve GI tolerability should partly offset headwinds from competition, but we still assume Biogen's total oral MS drug sales will decline from $3.8 billion in 2020 to $1.7 billion by 2025.",
    "output": "[Cause] The ability of Biogen's new oral drug Vumerity to improve GI tolerability [Relation] enable, offset [Effect] partly offset headwinds from competition",
    "gold": "[Cause] The ability of Biogen's new oral drug Vumerity to improve GI tolerability [Relation] enable [Effect] partly offset headwinds from competition",
    "valid": true
  },
  {
    "input": "For example, hoses, nozzles, pumps, and other components have to be periodically replaced due to constant wear and tear, which creates steady demand for aftermarket parts.",
    "output": "[Cause] constant wear and tear [Relation] cause [Effect] hoses, nozzles, pumps, and other components have to be periodically replaced",
    "gold": "[Cause] hoses, nozzles, pumps, and other components have to be periodically replaced [Relation] cause [Effect] constant wear and tear",
    "valid": false
  },
  {
    "input": "For example, hoses, nozzles, pumps, and other components have to be periodically replaced due to constant wear and tear, which creates steady demand for aftermarket parts.",
    "output": "[Cause] constant wear and tear [Relation] cause [Effect] hoses, nozzles, pumps, and other components have to be periodically replaced",
    "gold": "[Cause] constant wear and tear [Relation] cause [Effect] creates steady demand for aftermarket parts",
    "valid": false
  },
  {
    "input": "The research model business has remained a steady recurring revenue stream for the company as a result of high switching costs.",
    "output": "[Cause] high switching costs [Relation] enable [Effect] The research model business has remained a steady recurring revenue stream for the company",
    "gold": "[Cause] high switching costs [Relation] cause [Effect] The research model business has remained a steady recurring revenue stream for the company",
    "valid": true
  },
  {
    "input": "Security uses include threat detection (suspicious user activity, for example) as well as incident monitoring; IT cases include cloud infrastructure monitoring and predictive system analytics; and observability uses include monitoring application health for developers, and application modernization to maximize performance and drive innovation.",
    "output": "[Cause] Security uses (threat detection, incident monitoring) [Relation] enable [Effect] improved security and risk management",
    "gold": "[Cause] observability uses include monitoring application health for developers, and application modernization [Relation] enable [Effect] maximize performance and drive innovation",
    "valid": false
  },
  {
    "input": "The firm is also exposed to the consumer markets through its mobile device products and, increasingly, Internet of Things, where demand may ebb and flow along with short product cycles.",
    "output": "[Cause] exposed to the consumer markets through its mobile device products and Internet of Things [Relation] cause [Effect] demand may ebb and flow along with short product cycles",
    "gold": "[Cause] mobile device products and, increasingly, Internet of Things [Relation] enable [Effect] The firm is also exposed to the consumer markets",
    "valid": false
  },
  {
    "input": "The volume of new equipment sales to LNG and other oil and gas customers has been falling off, due to the general oil and gas downturn as well as the imminent LNG oversupply specifically.",
    "output": "[Cause] the general oil and gas downturn as well as the imminent LNG oversupply specifically [Relation] cause [Effect] The volume of new equipment sales to LNG and other oil and gas customers has been falling off",
    "gold": "[Cause] the general oil and gas downturn as well as the imminent LNG oversupply specifically [Relation] cause [Effect] The volume of new equipment sales to LNG and other oil and gas customers has been falling off",
    "valid": true
  },
  {
    "input": "Novartis' patent-protected drugs carry strong pricing power, which enables the firm to generate returns on invested capital in excess of its cost of capital.",
    "output": "[Cause] Novartis' patent-protected drugs carry strong pricing power [Relation] enable [Effect] enables the firm to generate returns on invested capital in excess of its cost of capital",
    "gold": "[Cause] Novartis' patent-protected drugs carry strong pricing power [Relation] enable [Effect] the firm to generate returns on invested capital in excess of its cost of capital.",
    "valid": false
  },
  {
    "input": "This could result in more stable cash flows, a sustainable dividend, and Utilities - Independent Power Producersmore share buybacks if management does a good job executing its strategy.",
    "output": "[Cause] management doing a good job executing its strategy [Relation] enable [Effect] more stable cash flows, a sustainable dividend, and more share buybacks",
    "gold": "[Cause] management does a good job executing its strategy [Relation] enable [Effect] more stable cash flows, a sustainable dividend, and Utilities - Independent Power Producersmore share buybacks",
    "valid": false
  },
  {
    "input": "We believe Adidas has a strong opportunity in the $31 billion athletic apparel market in China, where it is viewed as a premium fashion brand with high pricing.",
    "output": "[Cause] Adidas is viewed as a premium fashion brand with high pricing in China [Relation] enable [Effect] Adidas has a strong opportunity in the $31 billion athletic apparel market in China",
    "gold": "[Cause] We believe Adidas has a strong opportunity in the $31 billion athletic apparel market in China, [Relation] enable [Effect] where it is viewed as a premium fashion brand with high pricing.",
    "valid": false
  },
  {
    "input": "While a leader in real-world evidence, IQVIA's success is highly dependent on regulatory cooperation, as real-world evidence offerings will only be worth a premium if they're completely embraced by the FDA and other regulatory entities.",
    "output": "[Cause] real-world evidence offerings will only be worth a premium if they're completely embraced by the FDA and other regulatory entities [Relation] cause [Effect] IQVIA's success is highly dependent on regulatory cooperation",
    "gold": "[Cause] real-world evidence offerings will only be worth a premium if they're completely embraced by the FDA and other regulatory entities [Relation] cause [Effect] IQVIA's success is highly dependent on regulatory cooperation",
    "valid": true
  },
  {
    "input": "However, if Eastman is unable to develop new products to replace formulas that roll off patent, or if its new products fail to generate the same incremental demand growth from its end users, its ability to command a premium price for its specialty products would deteriorate.",
    "output": "[Cause] unable to develop new products to replace formulas that roll off patent; new products fail to generate the same incremental demand growth from its end users [Relation] cause [Effect] its ability to command a premium price for its specialty products would deteriorate",
    "gold": "[Cause] its new products fail to generate the same incremental demand growth from its end user [Relation] cause [Effect] its ability to command a premium price for its specialty products would deteriorate",
    "valid": false
  },
  {
    "input": "However, if Eastman is unable to develop new products to replace formulas that roll off patent, or if its new products fail to generate the same incremental demand growth from its end users, its ability to command a premium price for its specialty products would deteriorate.",
    "output": "[Cause] unable to develop new products to replace formulas that roll off patent; new products fail to generate the same incremental demand growth from its end users [Relation] cause [Effect] its ability to command a premium price for its specialty products would deteriorate",
    "gold": "[Cause] Eastman is unable to develop new products to replace formulas that roll off patent [Relation] cause [Effect] its ability to command a premium price for its specialty products would deteriorate",
    "valid": false
  },
  {
    "input": "Lower volume for equity futures should be partially mitigated by rises in average revenue per contract as the company benefits from recent price increases and improved product mix as the smaller contracts favored by retail investors carry a much smaller transaction fee per contract than CME's traditional equity products.",
    "output": "[Cause] recent price increases and improved product mix, smaller contracts favored by retail investors carrying a much smaller transaction fee per contract [Relation] mitigate [Effect] mitigated lower volume for equity futures, rises in average revenue per contract",
    "gold": "[Cause] the company benefits from recent price increases and improved product mix [Relation] cause [Effect] Lower volume for equity futures should be partially mitigated by rises in average revenue per contract",
    "valid": false
  },
  {
    "input": "Lower volume for equity futures should be partially mitigated by rises in average revenue per contract as the company benefits from recent price increases and improved product mix as the smaller contracts favored by retail investors carry a much smaller transaction fee per contract than CME's traditional equity products.",
    "output": "[Cause]  [Relation]  [Effect] ",
    "gold": "[Cause] the smaller contracts favored by retail investors carry a much smaller transaction fee per contract than CME's traditional equity products [Relation] cause [Effect] the company benefits from recent price increases and improved product mix",
    "valid": false
  },
  {
    "input": "Lower volume for equity futures should be partially mitigated by rises in average revenue per contract as the company benefits from recent price increases and improved product mix as the smaller contracts favored by retail investors carry a much smaller transaction fee per contract than CME's traditional equity products.",
    "output": "[Cause] recent price increases and improved product mix [Relation] enable [Effect] lower volume for equity futures should be partially mitigated by rises in average revenue per contract",
    "gold": "[Cause] rises in average revenue per contract [Relation] prevent [Effect] Lower volume for equity futures",
    "valid": false
  },
  {
    "input": "If one of CME's customer's fails to settle a contract, the exchange will step in and close out the transaction after seizing the collateral of the defaulted counterparty.",
    "output": "[Cause] one of CME's customer fails to settle a contract [Relation] enable [Effect] the exchange will step in and close out the transaction after seizing the collateral of the defaulted counterparty",
    "gold": "[Cause] one of CME's customer's fails to settle a contract [Relation] cause [Effect] the exchange will step in and close out the transaction after seizing the collateral of the defaulted counterparty",
    "valid": false
  },
  {
    "input": "Although the ostomy market only grows in the mid-single digits, it is relatively insulated from larger economic conditions as patients generally have little choice about whether to use the devices and supplies.",
    "output": "[Cause] patients generally have little choice about whether to use the devices and supplies [Relation] enable [Effect] the ostomy market is relatively insulated from larger economic conditions",
    "gold": "[Cause] patients generally have little choice about whether to use the devices and supplies [Relation] cause [Effect] it is relatively insulated from larger economic conditions",
    "valid": false
  },
  {
    "input": "With declining net interest margins over the past few years, Bradesco has pivoted toward higher margin small and medium enterprise and personal lending, in tandem with an increased focus on fee income.",
    "output": "[Cause] declining net interest margins over the past few years [Relation] cause [Effect] Bradesco has pivoted toward higher margin small and medium enterprise and personal lending, in tandem with an increased focus on fee income",
    "gold": "[Cause] declining net interest margins over the past few years [Relation] cause [Effect] Bradesco has pivoted toward higher margin small and medium enterprise and personal lending, in tandem with an increased focus on fee income",
    "valid": true
  },
  {
    "input": "As a developer of projects in frontier regions such as Mozambique or Papua New Guinea, Total faces the risk of delays or disruption of new construction or existing operations due to disputes with local communities.",
    "output": "[Cause] disputes with local communities [Relation] cause [Effect] risk of delays or disruption of new construction or existing operations",
    "gold": "[Cause] As a developer of projects in frontier regions [Relation] cause [Effect] Total faces the risk of delays or disruption of new construction or existing operations",
    "valid": false
  },
  {
    "input": "The multi-year effort to bring Line 3 into service due to opposition from indigenous tribes finally looks to be nearing a close, with an expected in-service date by the end of 2021.",
    "output": "[Cause] opposition from indigenous tribes [Relation] hinder [Effect] The multi-year effort to bring Line 3 into service finally looks to be nearing a close",
    "gold": "[Cause] opposition from indigenous [Relation] cause [Effect] in-service date by the end of 2021",
    "valid": false
  },
  {
    "input": "Moreover, it does not appear that increased outlet sales have had a discernible effect on pricing, as Adidas' overall gross margin improved 210 basis points in the period to 49.7% from 47.6%.",
    "output": "[Cause] increased outlet sales [Relation] no discernible effect [Effect] Adidas' overall gross margin improved 210 basis points to 49.7% from 47.6%",
    "gold": "[Cause] Adidas' overall gross margin improved 210 basis points in the period to 49.7% from 47.6% [Relation] enable [Effect] it does not appear that increased outlet sales have had a discernible effect on pricing",
    "valid": false
  },
  {
    "input": "Management hopes to develop more complex manufacturing capabilities in market segments where limited competition supports stronger pricing power and higher profitability, but market pressures have limited the company's progress.",
    "output": "[Cause] limited competition supports stronger pricing power and higher profitability [Relation] enable [Effect] management hopes to develop more complex manufacturing capabilities in market segments",
    "gold": "[Cause] market pressures [Relation] prevent [Effect] the company's progress",
    "valid": false
  },
  {
    "input": "Management hopes to develop more complex manufacturing capabilities in market segments where limited competition supports stronger pricing power and higher profitability, but market pressures have limited the company's progress.",
    "output": "[Cause] market pressures [Relation] prevent [Effect] limited the company's progress",
    "gold": "[Cause] develop more complex manufacturing capabilities in market segments [Relation] cause [Effect] limited competition supports stronger pricing power and higher profitability",
    "valid": false
  },
  {
    "input": "Management is looking for 25% of its growth outlook to be driven by innovation, a mark we think is achievable given the broad resonance of its trademarks.",
    "output": "[Cause] the broad resonance of its trademarks [Relation] enable [Effect] 25% of its growth outlook to be driven by innovation",
    "gold": "[Cause] a mark [Relation] enable [Effect] the broad resonance of its trademarks",
    "valid": false
  },
  {
    "input": "The aquatic systems business, which offers a full line of energy-efficient equipment for residential and commercial swimming pools (including pumps, filters, heaters, and other equipment and accessories), is the crown jewel in Pentair's portfolio, as it is both its fastest-growing and most profitable business.",
    "output": "[Cause] The aquatic systems business is both its fastest-growing and most profitable business [Relation] cause [Effect] The aquatic systems business offers a full line of energy-efficient equipment for residential and commercial swimming pools (including pumps, filters, heaters, and other equipment and accessories)",
    "gold": "[Cause] it is both its fastest-growing and most profitable business [Relation] cause [Effect] The aquatic systems business, which offers a full line of energy-efficient equipment for residential and commercial swimming pools (including pumps, filters, heaters, and other equipment and accessories), is the crown jewel in Pentair's portfolio",
    "valid": false
  },
  {
    "input": "In the long run, we still expect steel prices to be low, owing to our expectations of lower midcycle iron ore and coking coal prices as China's demand growth for steel matures.",
    "output": "[Cause] expectations of lower midcycle iron ore and coking coal prices as China's demand growth for steel matures [Relation] cause [Effect] still expect steel prices to be low",
    "gold": "[Cause] China's demand growth for steel matures [Relation] cause [Effect] lower midcycle iron ore and coking coal prices",
    "valid": false
  },
  {
    "input": "While the testing market tends to be relatively stable, fragmentation is high and Neogen is often competing against several providers for new business.",
    "output": "[Cause] fragmentation is high and Neogen is often competing against several providers for new business [Relation] impact [Effect] the testing market tends to be relatively stable",
    "gold": "[Cause] fragmentation is high [Relation] cause [Effect] competing against several providers for new business",
    "valid": false
  },
  {
    "input": "While we think natural gas will play a role near term in California, there is risk that as policymakers shift away from natural gas regulators don't fairly compensate Sempra for stranded gas distribution assets.",
    "output": "[Cause] policymakers shift away from natural gas [Relation] cause [Effect] risk that regulators don't fairly compensate Sempra for stranded gas distribution assets",
    "gold": "[Cause] policymakers shift away from natural gas regulators don't fairly compensate Sempra for stranded gas distribution assets [Relation] cause [Effect] we think natural gas will play a role near term in California",
    "valid": false
  },
  {
    "input": "ROIC fell in 2016 due to a medical advertising scandal at Baidu and the resulting government curb on healthcare adverts.",
    "output": "[Cause] a medical advertising scandal at Baidu and the resulting government curb on healthcare adverts [Relation] cause [Effect] ROIC fell in 2016",
    "gold": "[Cause] a medical advertising scandal at Baidu and the resulting government curb on healthcare adverts [Relation] cause [Effect] ROIC fell in 2016",
    "valid": true
  },
  {
    "input": "A failure of a sensor to work properly may lead to product failure of an expensive long-cycle product, which we think makes it difficult for customers to switch.",
    "output": "[Cause] A failure of a sensor to work properly [Relation] cause [Effect] may lead to product failure of an expensive long-cycle product",
    "gold": "[Cause] A failure of a sensor to work properly may lead to product failure of an expensive long-cycle product [Relation] enable [Effect] makes it difficult for customers to switch",
    "valid": false
  },
  {
    "input": "These aspects of the retail distribution channel keep most generic drug manufacturers, unwilling to focus on direct-to-consumer products, focused on the prescription side of the drug market and away from Perrigo's territory.",
    "output": "[Cause] most generic drug manufacturers unwilling to focus on direct-to-consumer products [Relation] prevent [Effect] focused on the prescription side of the drug market and away from Perrigo's territory",
    "gold": "[Cause] These aspects of the retail distribution channel [Relation] cause [Effect] most generic drug manufacturers, unwilling to focus on direct-to-consumer products",
    "valid": false
  },
  {
    "input": "We contend that these higher domain fees should not lead to significant customer attrition given that they comprise a relatively small proportion of a business' budget.",
    "output": "[Cause] higher domain fees [Relation] cause [Effect] should not lead to significant customer attrition",
    "gold": "[Cause] they comprise a relatively small proportion of a business' budget [Relation] cause [Effect] these higher domain fees should not lead to significant customer attrition",
    "valid": false
  },
  {
    "input": "While an increased focus on diagnostics due to the coronavirus pandemic will be a tailwind, we expect competition will increase to meet this rising demand, and Bio-Rad may not meaningfully benefit from this trend despite a growing market.",
    "output": "[Cause] increased focus on diagnostics due to the coronavirus pandemic [Relation] cause [Effect] competition will increase to meet this rising demand",
    "gold": "[Cause] the coronavirus pandemic [Relation] cause [Effect] an increased focus on diagnostics",
    "valid": false
  },
  {
    "input": "While an increased focus on diagnostics due to the coronavirus pandemic will be a tailwind, we expect competition will increase to meet this rising demand, and Bio-Rad may not meaningfully benefit from this trend despite a growing market.",
    "output": "[Cause] increased focus on diagnostics due to the coronavirus pandemic [Relation] cause [Effect] competition will increase to meet this rising demand",
    "gold": "[Cause] rising demand [Relation] cause [Effect] competition will increase",
    "valid": false
  },
  {
    "input": "As a result, Tenneco has a large degree of operating leverage, so sudden declines in volume can have a meaningful impact on profit.",
    "output": "[Cause] Tenneco has a large degree of operating leverage [Relation] cause [Effect] sudden declines in volume can have a meaningful impact on profit",
    "gold": "[Cause] Tenneco has a large degree of operating leverage [Relation] cause [Effect] sudden declines in volume can have a meaningful impact on profit",
    "valid": true
  },
  {
    "input": "The resultant sales relationships and company reputation for quick component availability across a wide range of inventory lead to a brand intangible asset that is difficult for small, regional competitors to replicate.",
    "output": "[Cause] resultant sales relationships and company reputation for quick component availability across a wide range of inventory [Relation] cause [Effect] brand intangible asset that is difficult for small, regional competitors to replicate",
    "gold": "[Cause] The resultant sales relationships and company reputation for quick component availability across a wide range of inventory [Relation] cause [Effect] a brand intangible asset",
    "valid": false
  },
  {
    "input": "To continue winning contracts, the turbine-makers will instate steep cost-reduction goals to their supply chain and will outsource suppliers that cannot meet the targets.",
    "output": "[Cause] turbine-makers will instate steep cost-reduction goals to their supply chain [Relation] enable [Effect] continue winning contracts",
    "gold": "[Cause] To continue winning contracts [Relation] cause [Effect] the turbine-makers will instate steep cost-reduction goals to their supply chain and will outsource suppliers that cannot meet the targets",
    "valid": false
  },
  {
    "input": "Further, a number of patents and trade secrets protect these innovations from intellectual property theft. These factors allow the company to charge a premium relative to competitors' products, which we believe contributes to its GAAP operating margins of just under 23% based on 2020 results.",
    "output": "[Cause] a number of patents and trade secrets protect these innovations from intellectual property theft [Relation] enable [Effect] the company is able to charge a premium relative to competitors' products",
    "gold": "[Cause] a number of patents and trade secrets protect these innovations from intellectual property theft [Relation] enable [Effect] the company to charge a premium relative to competitors' products, which we believe contributes to its GAAP operating margins of just under 23% based on 2020 results",
    "valid": false
  },
  {
    "input": "That's important because the precise surface location of a horizontal shale well plays a huge role in determining its eventual productivity and influences the oil content of its production stream.",
    "output": "[Cause] the precise surface location of a horizontal shale well [Relation] cause [Effect] plays a huge role in determining its eventual productivity and influences the oil content of its production stream",
    "gold": "[Cause] the precise surface location of a horizontal shale well [Relation] cause [Effect] its eventual productivity and influences the oil content of its production stream.",
    "valid": false
  },
  {
    "input": "Or, if the customer is unable to find such a solution, it would need to source multiple discrete products from various suppliers to develop bespoke solutions with the same functionality, complicating its supply chain and requiring significant engineering investment.",
    "output": "[Cause] Unable to find a solution [Relation] cause [Effect] Need to source multiple discrete products from various suppliers to develop bespoke solutions with the same functionality, complicating its supply chain and requiring significant engineering investment",
    "gold": "[Cause] if the customer is unable to find such a solution, it would need to source multiple discrete products from various suppliers to develop bespoke solutions with the same functionality [Relation] cause [Effect] complicating its supply chain and requiring significant engineering investment",
    "valid": false
  },
  {
    "input": "In 2020, Apartment Income spun off its development pipeline and lease-up portfolio into its own company so that the remaining company could focus on the highest-quality assets.",
    "output": "[Cause] Apartment Income spun off its development pipeline and lease-up portfolio into its own company [Relation] enable [Effect] the remaining company could focus on the highest-quality assets",
    "gold": "[Cause] Apartment Income spun off its development pipeline and lease-up portfolio into its own company [Relation] cause [Effect] the remaining company could focus on the highest-quality assets",
    "valid": true
  },
  {
    "input": "Frank's focus on casing services, especially for offshore oil wells, makes it more exposed than the average oilfield service company to a large oil spill like the 2010 Macondo disaster.",
    "output": "[Cause] Frank's focus on casing services, especially for offshore oil wells [Relation] cause [Effect] makes it more exposed than the average oilfield service company to a large oil spill like the 2010 Macondo disaster",
    "gold": "[Cause] Frank's focus on casing services, especially for offshore oil wells [Relation] enable [Effect] makes it more exposed than the average oilfield service company to a large oil spill like the 2010 Macondo disaster",
    "valid": true
  },
  {
    "input": "We have indication of smartwatches significantly hurting lower priced Swiss watch sales, although we see high-end brands to be more resilient.",
    "output": "[Cause] indication of smartwatches significantly hurting lower priced Swiss watch sales [Relation] prevent [Effect] high-end brands to be more resilient",
    "gold": "[Cause] smartwatches [Relation] enable [Effect] hurting lower priced Swiss watch sales",
    "valid": false
  },
  {
    "input": "Using pulse oximeters that produce frequent false alarms can take up valuable clinician time, leading to poor health outcomes, and constant false alarms could result in true positive alerts being ignored.",
    "output": "[Cause] Using pulse oximeters that produce frequent false alarms [Relation] cause [Effect] take up valuable clinician time, leading to poor health outcomes",
    "gold": "[Cause] Using pulse oximeters that produce frequent false alarms [Relation] cause [Effect] take up valuable clinician time, leading to poor health outcomes",
    "valid": true
  },
  {
    "input": "Using pulse oximeters that produce frequent false alarms can take up valuable clinician time, leading to poor health outcomes, and constant false alarms could result in true positive alerts being ignored.",
    "output": "[Cause] Using pulse oximeters that produce frequent false alarms [Relation] cause [Effect] take up valuable clinician time, leading to poor health outcomes",
    "gold": "[Cause] constant false alarms [Relation] cause [Effect] true positive alerts being ignored.",
    "valid": false
  },
  {
    "input": "Through high-grading and cost improvements, the company has reduced the oil price necessary to earn a 10% return on capital to below $40 per barrel.",
    "output": "[Cause] high-grading and cost improvements [Relation] enable [Effect] the company has reduced the oil price necessary to earn a 10% return on capital to below $40 per barrel",
    "gold": "[Cause] high-grading and cost improvements [Relation] enable [Effect] the company has reduced the oil price necessary to earn a 10% return on capital to below $40 per barrel",
    "valid": true
  },
  {
    "input": "Focused entry from these competitors would double the current handful of players that have dominant scale, leading to commodification of the industry and a meaningful impact to margins.",
    "output": "[Cause] Focused entry from these competitors [Relation] cause [Effect] double the current handful of players that have dominant scale",
    "gold": "[Cause] double the current handful of players that have dominant scale [Relation] cause [Effect] commodification of the industry and a meaningful impact to margins",
    "valid": false
  },
  {
    "input": "Most of that membership growth will likely come from its fully insured business, particularly the government business as the fast-growing Medicare Advantage business continues to expand.",
    "output": "[Cause] the fast-growing Medicare Advantage business continues to expand [Relation] cause [Effect] Most of that membership growth will likely come from its fully insured business, particularly the government business",
    "gold": "[Cause] the fast-growing Medicare Advantage business continues to expand [Relation] cause [Effect] Most of that membership growth will likely come from its fully insured business, particularly the government business",
    "valid": true
  },
  {
    "input": "Further, with around 40% of sales generated outside the U.S., Kellogg is exposed to foreign exchange fluctuations, which may eat into sales and profits from time to time.",
    "output": "[Cause] Kellogg is exposed to foreign exchange fluctuations [Relation] cause [Effect] foreign exchange fluctuations may eat into sales and profits from time to time",
    "gold": "[Cause] with around 40% of sales generated outside the U.S. [Relation] cause [Effect] Kellogg is exposed to foreign exchange fluctuations, which may eat into sales and profits from time to time",
    "valid": false
  },
  {
    "input": "Furthermore, while populous metropolitan areas are the centers of construction activity, new quarry permits are difficult to obtain near well-populated areas due to not-in-my-backyard tendencies, preventing new competition from copying the location-based cost advantage.",
    "output": "[Cause] new quarry permits are difficult to obtain near well-populated areas due to not-in-my-backyard tendencies [Relation] prevent [Effect] preventing new competition from copying the location-based cost advantage",
    "gold": "[Cause] copying the location-based cost advantage [Relation] prevent [Effect] new competition",
    "valid": false
  },
  {
    "input": "Furthermore, while populous metropolitan areas are the centers of construction activity, new quarry permits are difficult to obtain near well-populated areas due to not-in-my-backyard tendencies, preventing new competition from copying the location-based cost advantage.",
    "output": "[Cause] new quarry permits are difficult to obtain near well-populated areas due to not-in-my-backyard tendencies [Relation] prevent [Effect] preventing new competition from copying the location-based cost advantage",
    "gold": "[Cause] not-in-my-backyard tendencies [Relation] cause [Effect] new quarry permits are difficult to obtain near well-populated areas",
    "valid": false
  },
  {
    "input": "We are raising our uncertainty rating for British American Tobacco to medium from low because of the heightened risk to the business model posed by emerging categories.",
    "output": "[Cause] heightened risk to the business model posed by emerging categories [Relation] cause [Effect] raising uncertainty rating for British American Tobacco to medium from low",
    "gold": "[Cause] the heightened risk to the business model posed by emerging categories [Relation] cause [Effect] raising our uncertainty rating for British American Tobacco to medium from low",
    "valid": false
  },
  {
    "input": "That said, there are plans for two large resorts to open in 2021 (Genting World Resort opens with 3,000 rooms) and 2022 (the Witkoff Drew opens with around 4,000 rooms) that combined will increase existing supply by a mid-single-digit percentage.",
    "output": "[Cause] plans for two large resorts to open in 2021 (Genting World Resort opens with 3,000 rooms) and 2022 (the Witkoff Drew opens with around 4,000 rooms) [Relation] cause [Effect] combined will increase existing supply by a mid-single-digit percentage",
    "gold": "[Cause] combined [Relation] cause [Effect] increase existing supply",
    "valid": false
  },
  {
    "input": "That said, there are plans for two large resorts to open in 2021 (Genting World Resort opens with 3,000 rooms) and 2022 (the Witkoff Drew opens with around 4,000 rooms) that combined will increase existing supply by a mid-single-digit percentage.",
    "output": "[Cause] plans for two large resorts to open in 2021 and 2022 [Relation] cause [Effect] increase existing supply by a mid-single-digit percentage",
    "gold": "[Cause] there are plans for two large resorts to open in 2021 (Genting World Resort opens with 3,000 rooms) and 2022 (the Witkoff Drew opens with around 4,000 rooms) [Relation] cause [Effect] increase existing supply by a mid-single-digit percentage",
    "valid": false
  },
  {
    "input": "We believe the gambling market in Macao will enjoy solid growth in the longer term. This structural tailwind is driven by the rising middle class in China and the penetration rate of less than 2% in Macao, compared with Las Vegas' 13%.",
    "output": "[Cause] rising middle class in China | penetration rate of less than 2% in Macao [Relation] enable [Effect] solid growth in the longer term in the gambling market in Macao",
    "gold": "[Cause] the rising middle class in China and the penetration rate of less than 2% in Macao, compared with Las Vegas' 13% [Relation] enable [Effect] the gambling market in Macao will enjoy solid growth in the longer term",
    "valid": false
  },
  {
    "input": "For instance, RingCentral's integration with Microsoft Teams allows users to seamlessly use services from both apps (for example, RingCentral meeting scheduling within Teams), fostering a \"co-opetition\" approach rather than pure competition. As a result, we do not see a winner-take-all market within UCaaS; instead, businesses are likely to adopt best-in-class solutions in different areas rather than lock into one suite.",
    "output": "[Cause] RingCentral's integration with Microsoft Teams allows users to seamlessly use services from both apps [Relation] enable [Effect] fostering a \"co-opetition\" approach rather than pure competition",
    "gold": "[Cause] RingCentral's integration with Microsoft Teams allows users to seamlessly use services from both apps (for example, RingCentral meeting scheduling within Teams), fostering a \"co-opetition\" approach rather than pure competition [Relation] cause [Effect] we do not see a winner-take-all market within UCaaS; instead, businesses are likely to adopt best-in-class solutions in different areas rather than lock into one suite",
    "valid": false
  },
  {
    "input": "Beyond boosting profits, we think these savings will fuel its product innovation and advertising to ensure its offerings stay top of mind with consumers and retailers.",
    "output": "[Cause] savings [Relation] enable [Effect] fuel its product innovation and advertising",
    "gold": "[Cause] savings will fuel its product innovation and advertising [Relation] enable [Effect] its offerings stay top of mind with consumers and retailers",
    "valid": false
  },
  {
    "input": "Driving this growth are secular trends that should support increased adoption of CCaaS products, as well as Nice's shift to a cloud-based platform that should lead to healthy new customer growth and upselling opportunities with existing customers.",
    "output": "[Cause] secular trends that should support increased adoption of CCaaS products, Nice's shift to a cloud-based platform [Relation] enable [Effect] driving this growth, healthy new customer growth and upselling opportunities with existing customers",
    "gold": "[Cause] Nice's shift to a cloud-based platform [Relation] enable [Effect] lead to healthy new customer growth and upselling opportunities with existing customers",
    "valid": false
  },
  {
    "input": "Driving this growth are secular trends that should support increased adoption of CCaaS products, as well as Nice's shift to a cloud-based platform that should lead to healthy new customer growth and upselling opportunities with existing customers.",
    "output": "[Cause] secular trends that should support increased adoption of CCaaS products, as well as Nice's shift to a cloud-based platform [Relation] enable [Effect] driving this growth",
    "gold": "[Cause] Driving this growth are secular trends [Relation] enable [Effect] support increased adoption of CCaaS products",
    "valid": false
  },
  {
    "input": "This could lead to employee frustration if paychecks are delayed or if there are delays to benefits administration, and in severe cases, employees may quit the firm.",
    "output": "[Cause] paychecks are delayed or if there are delays to benefits administration [Relation] cause [Effect] employee frustration",
    "gold": "[Cause] there are delays to benefits administration, and in severe cases, employees may quit the firm. [Relation] enable [Effect] This could lead to employee frustration if paychecks are delayed",
    "valid": false
  },
  {
    "input": "We believe Discover's impressive returns are partly a function of the higher switching costs incurred by cardholders with revolving balances each month.",
    "output": "[Cause] higher switching costs incurred by cardholders with revolving balances each month [Relation] cause [Effect] Discover's impressive returns",
    "gold": "[Cause] the higher switching costs [Relation] cause [Effect] Discover's impressive returns",
    "valid": false
  },
  {
    "input": "The firm also could see higher environmental regulation costs as well as elevated expenses as it moves into electric vehicles, particularly as it competes for talent.",
    "output": "[Cause] higher environmental regulation costs | elevated expenses as it moves into electric vehicles | competes for talent [Relation] cause [Effect] The firm could see higher environmental regulation costs as well as elevated expenses",
    "gold": "[Cause] it competes for talent [Relation] cause [Effect] The firm also could see higher environmental regulation costs as well as elevated expenses as it moves into electric vehicles",
    "valid": false
  },
  {
    "input": "Vertex has been able to build upon its intellectual property, rolling out better medicines and combinations that increasingly capture more patients.",
    "output": "[Cause] Vertex has been able to build upon its intellectual property [Relation] enable [Effect] rolling out better medicines and combinations",
    "gold": "[Cause] rolling out better medicines and combinations [Relation] enable [Effect] increasingly capture more patients",
    "valid": false
  },
  {
    "input": "If a malicious attempt is detected in one location, all of the enterprise's security is updated instead of only having an update in a particular location.",
    "output": "[Cause] a malicious attempt is detected in one location [Relation] enable [Effect] all of the enterprise's security is updated instead of only having an update in a particular location",
    "gold": "[Cause] a malicious attempt is detected in one location [Relation] cause [Effect] all of the enterprise's security is updated instead of only having an update in a particular location",
    "valid": true
  },
  {
    "input": "We believe EDU can trade above its industry peers' average with its leading position and  also solid revenue growth in China.",
    "output": "[Cause] leading position and solid revenue growth in China [Relation] enable [Effect] EDU can trade above its industry peers' average",
    "gold": "[Cause] EDU can trade above its industry peers' average with its leading position [Relation] enable [Effect] solid revenue growth in China",
    "valid": false
  },
  {
    "input": "If the largest telecom operator in the market talks about dropping its prices by 20-40% for low end customers and reducing its overall revenue by around 10% then it is likely to impact on the other operators.",
    "output": "[Cause] largest telecom operator talks about dropping its prices by 20-40% for low-end customers and reducing its overall revenue by around 10% [Relation] cause [Effect] likely to impact on the other operators",
    "gold": "[Cause] dropping its prices by 20-40% for low end customers and reducing its overall revenue by around 10% [Relation] cause [Effect] impact on the other operators",
    "valid": false
  },
  {
    "input": "However, we view discrete chips as more of a technological commodity making a sustainable competitive advantage from intangible assets and even switching costs unlikely.",
    "output": "[Cause] discrete chips being viewed as a technological commodity [Relation] cause [Effect] making a sustainable competitive advantage from intangible assets and even switching costs unlikely",
    "gold": "[Cause] discrete chips as more of a technological commodity [Relation] prevent [Effect] a sustainable competitive advantage from intangible assets and even switching costs",
    "valid": false
  },
  {
    "input": "US Foods prefers these products as they have twice the margin of nationally branded products, and the firm encourages its sales reps to promote these items to clients.",
    "output": "[Cause] these products have twice the margin of nationally branded products [Relation] enable [Effect] US Foods prefers these products",
    "gold": "[Cause] they have twice the margin of nationally branded products, and the firm encourages its sales reps to promote these items to clients [Relation] cause [Effect] US Foods prefers these products",
    "valid": false
  },
  {
    "input": "Another major risk is the strong competition from the likes of Samsung and SK Hynix which may be able to develop technologically superior memory solutions than those of Micron, leading to stretches of underperformance where the latter is unable to adequately invest to bridge product portfolio gaps.",
    "output": "[Cause] strong competition from the likes of Samsung and SK Hynix [Relation] cause [Effect] stretches of underperformance where Micron is unable to adequately invest to bridge product portfolio gaps",
    "gold": "[Cause] develop technologically superior memory solutions than those of Micron [Relation] prevent [Effect] stretches of underperformance where the latter is unable to adequately invest to bridge product portfolio gaps",
    "valid": false
  },
  {
    "input": "We think management has a good record when it comes to balancing expansion opportunities and maintaining the company's competitive position, which gives us confidence.",
    "output": "[Cause] management has a good record when it comes to balancing expansion opportunities and maintaining the company's competitive position [Relation] enable [Effect] gives us confidence",
    "gold": "[Cause] management has a good record when it comes to balancing expansion opportunities and maintaining the company's competitive position [Relation] enable [Effect] gives us confidence",
    "valid": true
  },
  {
    "input": "In August 2020, it reached an agreement to sell its Speedway segment for $16.5 billion after tax, which represents a good deal for shareholders and premium to publicly traded peers, releasing value for shareholders as the embedded value of Speedway was well below that level.",
    "output": "[Cause] reached an agreement to sell its Speedway segment for $16.5 billion after tax [Relation] enable [Effect] represents a good deal for shareholders and premium to publicly traded peers, releasing value for shareholders as the embedded value of Speedway was well below that level",
    "gold": "[Cause] the embedded value of Speedway was well below that level [Relation] enable [Effect] which represents a good deal for shareholders and premium to publicly traded peers, releasing value for shareholders",
    "valid": false
  },
  {
    "input": "As a first mover in the local-market daily deals space, Groupon has captured a leadership position, but robust profitability has not followed.",
    "output": "[Cause] Groupon has captured a leadership position as a first mover in the local-market daily deals space [Relation] cause [Effect] robust profitability has not followed",
    "gold": "[Cause] As a first mover in the local-market daily deals space [Relation] enable [Effect] Groupon has captured a leadership position",
    "valid": false
  },
  {
    "input": "The international segment, heavily skewed toward China, features 11.5% annual revenue growth (excluding 2021), driven primarily by new unit openings (8.7%) as Starbucks continues to expand beyond Tier I cities.",
    "output": "[Cause] new unit openings as Starbucks continues to expand beyond Tier I cities [Relation] cause [Effect] 11.5% annual revenue growth (excluding 2021) in the international segment, heavily skewed toward China",
    "gold": "[Cause] new unit openings (8.7%) as Starbucks continues to expand beyond Tier I cities [Relation] cause [Effect] The international segment, heavily skewed toward China, features 11.5% annual revenue growth (excluding 2021)",
    "valid": false
  },
  {
    "input": "Governments may start to push back against the level of the hosting fee or simply refuse to pay it, forcing Formula One Group to find new venues or to lower hosting fees.",
    "output": "[Cause] Governments may start to push back against the level of the hosting fee or simply refuse to pay it [Relation] cause [Effect] forcing Formula One Group to find new venues or to lower hosting fees",
    "gold": "[Cause] Governments may start to push back against the level of the hosting fee or simply refuse to pay it [Relation] prevent [Effect] forcing Formula One Group to find new venues or to lower hosting fees",
    "valid": true
  },
  {
    "input": "But on a high level, Yum China did say that its supply chain is run at a unit cost 50% lower than industry average, forming a material cost advantage over smaller peers.",
    "output": "[Cause] its supply chain is run at a unit cost 50% lower than industry average [Relation] enable [Effect] forming a material cost advantage over smaller peers",
    "gold": "[Cause] its supply chain is run at a unit cost 50% lower than industry average [Relation] enable [Effect] forming a material cost advantage over smaller peers",
    "valid": true
  },
  {
    "input": "Because of lower revenue, IT investments, and pressure on gross margins (net revenue/gross revenue) from rising capacity buy rates, adjusted 2020 EBIT margin fell 110 basis points to 3.4%.",
    "output": "[Cause] lower revenue, IT investments, and pressure on gross margins from rising capacity buy rates [Relation] cause [Effect] adjusted 2020 EBIT margin fell 110 basis points to 3.4%",
    "gold": "[Cause] lower revenue, IT investments, and pressure on gross margins (net revenue/gross revenue) from rising capacity buy rates [Relation] cause [Effect] adjusted 2020 EBIT margin fell 110 basis points to 3.4%",
    "valid": false
  },
  {
    "input": "If interest rates increase faster than expected, Oneok's shares could underperform, as a steepening yield curve increases expected distribution yield for competing assets.",
    "output": "[Cause] interest rates increase faster than expected [Relation] cause [Effect] Oneok's shares could underperform",
    "gold": "[Cause] interest rates increase faster than expected [Relation] cause [Effect] Oneok's shares could underperform",
    "valid": true
  },
  {
    "input": "If interest rates increase faster than expected, Oneok's shares could underperform, as a steepening yield curve increases expected distribution yield for competing assets.",
    "output": "[Cause] interest rates increase faster than expected [Relation] cause [Effect] Oneok's shares could underperform",
    "gold": "[Cause] a steepening yield curve increases expected distribution yield for competing assets [Relation] cause [Effect] Oneok's shares could underperform",
    "valid": false
  },
  {
    "input": "We believe AEP is the best-positioned transmission developer in the U.S., given its large transmission footprint and history of execution.",
    "output": "[Cause] large transmission footprint and history of execution [Relation] enable [Effect] AEP is the best-positioned transmission developer in the U.S.",
    "gold": "[Cause] AEP is the best-positioned transmission developer in the U.S. [Relation] enable [Effect] given its large transmission footprint and history of execution",
    "valid": false
  },
  {
    "input": "The best operators boast a better understanding of local tastes and customs, often feature relevant real estate, legal, or supply chain expertise, and are generally willing to adopt sister brands, while categorical exclusivity prevents direct competitors from tapping the same master franchisee pool.",
    "output": "[Cause] The best operators boast a better understanding of local tastes and customs, often feature relevant real estate, legal, or supply chain expertise, and are generally willing to adopt sister brands [Relation] enable [Effect] categorical exclusivity prevents direct competitors from tapping the same master franchisee pool",
    "gold": "[Cause] categorical exclusivity [Relation] prevent [Effect] direct competitors from tapping the same master franchisee pool",
    "valid": false
  },
  {
    "input": "The best operators boast a better understanding of local tastes and customs, often feature relevant real estate, legal, or supply chain expertise, and are generally willing to adopt sister brands, while categorical exclusivity prevents direct competitors from tapping the same master franchisee pool.",
    "output": "[Cause] The best operators boast a better understanding of local tastes and customs, often feature relevant real estate, legal, or supply chain expertise, and are generally willing to adopt sister brands [Relation] enable [Effect] categorical exclusivity prevents direct competitors from tapping the same master franchisee pool",
    "gold": "[Cause] a better understanding of local tastes and customs, often feature relevant real estate, legal, or supply chain expertise, and are generally willing to adopt sister brands [Relation] enable [Effect] The best operators",
    "valid": false
  },
  {
    "input": "Further sluggishness at the start of fiscal 2020 and the COVID-19 pandemic caused revenue to fall another 5% in fiscal 2020.We anticipate a snap back in chip orders with revenue rising 18.5% in fiscal 2021, 4% in fiscal 2022 and growing at an average midcycle rate of 6% thereafter.",
    "output": "[Cause] sluggishness at the start of fiscal 2020 and the COVID-19 pandemic [Relation] cause [Effect] revenue fell another 5% in fiscal 2020",
    "gold": "[Cause] the COVID-19 pandemic [Relation] cause [Effect] revenue to fall another 5% in fiscal 2020",
    "valid": false
  },
  {
    "input": "Further sluggishness at the start of fiscal 2020 and the COVID-19 pandemic caused revenue to fall another 5% in fiscal 2020.We anticipate a snap back in chip orders with revenue rising 18.5% in fiscal 2021, 4% in fiscal 2022 and growing at an average midcycle rate of 6% thereafter.",
    "output": "[Cause] Further sluggishness at the start of fiscal 2020 and the COVID-19 pandemic [Relation] cause [Effect] caused revenue to fall another 5% in fiscal 2020",
    "gold": "[Cause] Further sluggishness at the start of fiscal 2020 and the COVID-19 pandemic caused revenue to fall another 5% in fiscal 2020 [Relation] cause [Effect] a snap back in chip orders with revenue rising 18.5% in fiscal 2021, 4% in fiscal 2022",
    "valid": false
  },
  {
    "input": "Further sluggishness at the start of fiscal 2020 and the COVID-19 pandemic caused revenue to fall another 5% in fiscal 2020.We anticipate a snap back in chip orders with revenue rising 18.5% in fiscal 2021, 4% in fiscal 2022 and growing at an average midcycle rate of 6% thereafter.",
    "output": "[Cause] Further sluggishness at the start of fiscal 2020 and the COVID-19 pandemic [Relation] cause [Effect] caused revenue to fall another 5% in fiscal 2020",
    "gold": "[Cause] Further sluggishness at the start of fiscal 2020 and the COVID-19 pandemic caused revenue to fall another 5% in fiscal 2020 [Relation] cause [Effect] growing at an average midcycle rate of 6% thereafter",
    "valid": false
  },
  {
    "input": "Further sluggishness at the start of fiscal 2020 and the COVID-19 pandemic caused revenue to fall another 5% in fiscal 2020.We anticipate a snap back in chip orders with revenue rising 18.5% in fiscal 2021, 4% in fiscal 2022 and growing at an average midcycle rate of 6% thereafter.",
    "output": "[Cause] sluggishness at the start of fiscal 2020 and the COVID-19 pandemic [Relation] cause [Effect] caused revenue to fall another 5% in fiscal 2020",
    "gold": "[Cause] revenue rising 18.5% in fiscal 2021, 4% in fiscal 2022 [Relation] cause [Effect] a snap back in chip orders",
    "valid": false
  },
  {
    "input": "As ADM has high fixed costs in its ag services business, the company is at risk for a significant profit drop should there be a bad harvest in any of its key regions including the U.S.",
    "output": "[Cause] the company is at risk for a significant profit drop [Relation] trigger [Effect] there be a bad harvest in any of its key regions including the U.S.",
    "gold": "[Cause] ADM has high fixed costs in its ag services business [Relation] cause [Effect] the company is at risk for a significant profit drop should there be a bad harvest in any of its key regions including the U.S",
    "valid": false
  },
  {
    "input": "Assuming successful network construction, entrants then face steep customer acquisition costs and startup losses as they attempt to gain share with a modestly differentiated product in a rapidly maturing market.",
    "output": "[Cause] entrants attempt to gain share with a modestly differentiated product in a rapidly maturing market [Relation] cause [Effect] face steep customer acquisition costs and startup losses",
    "gold": "[Cause] they attempt to gain share with a modestly differentiated product in a rapidly maturing market [Relation] cause [Effect] entrants then face steep customer acquisition costs and startup losses",
    "valid": false
  },
  {
    "input": "As the largest nuclear owner and operator in the U.S., Exelon has a generation portfolio with a low carbon emissions profile.",
    "output": "[Cause] Exelon has a generation portfolio with a low carbon emissions profile [Relation] cause [Effect] Exelon is the largest nuclear owner and operator in the U.S.",
    "gold": "[Cause] As the largest nuclear owner and operator in the U.S. [Relation] enable [Effect] Exelon has a generation portfolio with a low carbon emissions profile",
    "valid": false
  },
  {
    "input": "We expect Fanuc's service business to play a larger role for Fanuc due to increasing automation complexities from integrating Internet of Things technology to Fanuc's robots/machines, which will then contribute to the company's long-term ability to maintain high adjusted ROIC.",
    "output": "[Cause] increasing automation complexities from integrating Internet of Things technology to Fanuc's robots/machines [Relation] enable [Effect] Fanuc's service business to play a larger role",
    "gold": "[Cause] We expect Fanuc's service business to play a larger role for Fanuc [Relation] enable [Effect] which will then contribute to the company's long-term ability to maintain high adjusted ROIC",
    "valid": false
  },
  {
    "input": "In the event of a sudden plant shutdown, not only do individual components fail, but so do secondary systems, like shafts or motors.",
    "output": "[Cause] sudden plant shutdown [Relation] cause [Effect] individual components fail, secondary systems fail (like shafts or motors)",
    "gold": "[Cause] a sudden plant shutdown [Relation] cause [Effect] not only do individual components fail, but so do secondary systems, like shafts or motors",
    "valid": false
  },
  {
    "input": "Given the lower relative expense and the reliability factor (given Synopsys' brand and experience), customers are more likely than not to continue to utilize the firm's IP; the wide selection of products to choose from and the smoother interoperability with other Synopsys tools contribute to this.",
    "output": "[Cause] lower relative expense and the reliability factor (given Synopsys' brand and experience) [Relation] enable [Effect] customers are more likely than not to continue to utilize the firm's IP",
    "gold": "[Cause] the wide selection of products to choose from and the smoother interoperability with other Synopsys tools [Relation] cause [Effect] customers are more likely than not to continue to utilize the firm's IP",
    "valid": false
  },
  {
    "input": "Carnival was already facing pricing headwinds, with weak performance across European geographies, when the global spread of COVID-19 exacerbated its plight. As a result, 2020 was even more difficult to navigate than past recessions, as ships largely stopped sailing after March (with limited capacity in Europe).",
    "output": "[Cause] weak performance across European geographies, global spread of COVID-19 [Relation] exacerbate [Effect] Carnival was already facing pricing headwinds, 2020 was even more difficult to navigate than past recessions, ships largely stopped sailing after March (with limited capacity in Europe)",
    "gold": "[Cause] Carnival was already facing pricing headwinds, with weak performance across European geographies, when the global spread of COVID-19 exacerbated its plight [Relation] cause [Effect] 2020 was even more difficult to navigate than past recessions, as ships largely stopped sailing after March (with limited capacity in Europe)",
    "valid": false
  },
  {
    "input": "Brand strength has enabled premium pricing across all of BMW's products, while intellectual property supports the brand image with strong product execution, especially in powertrains.",
    "output": "[Cause] Brand strength enabled premium pricing across all of BMW's products [Relation] enable [Effect] intellectual property supports the brand image with strong product execution, especially in powertrains",
    "gold": "[Cause] Brand strength [Relation] enable [Effect] has enabled premium pricing across all of BMW's products",
    "valid": false
  },
  {
    "input": "Brand strength has enabled premium pricing across all of BMW's products, while intellectual property supports the brand image with strong product execution, especially in powertrains.",
    "output": "[Cause] Brand strength and intellectual property [Relation] enable [Effect] enabled premium pricing across all of BMW's products",
    "gold": "[Cause] while intellectual property [Relation] enable [Effect] supports the brand image with strong product execution, especially in powertrains",
    "valid": false
  },
  {
    "input": "Ultimately, however, we believe Shaw's relatively very small wireless business (only 4%-5% of total Canadian subscribers, based on our estimates), the complete lack of wireline footprint overlap, and the combined firm's commitment to accelerate 5G spending and invest in bringing high-speed broadband to underserved areas will lead to approval.",
    "output": "[Cause] Shaw's relatively very small wireless business, the complete lack of wireline footprint overlap, and the combined firm's commitment to accelerate 5G spending and invest in bringing high-speed broadband to underserved areas [Relation] enable [Effect] will lead to approval",
    "gold": "[Cause] Shaw's relatively very small wireless business (only 4%-5% of total Canadian subscribers, based on our estimates), the complete lack of wireline footprint overlap, and the combined firm's commitment to accelerate 5G spending and invest in bringing high-speed broadband to underserved areas [Relation] cause [Effect] approval",
    "valid": false
  },
  {
    "input": "After the first half of the year results, which came below our expectations, we reduce our estimates to account for weakness in Brazil and other Latin American countries operations.",
    "output": "[Cause] weakness in Brazil and other Latin American countries operations [Relation] cause [Effect] reduce our estimates",
    "gold": "[Cause] reduce our estimates [Relation] enable [Effect] account for weakness in Brazil and other Latin American countries operations",
    "valid": false
  },
  {
    "input": "We also expect the increasing awareness of the importance of software security in chips and applications to propel mid- to high-teens growth for Synopsys' newer software integrity segment, with total revenue surpassing $700 million in fiscal 2025.",
    "output": "[Cause] increasing awareness of the importance of software security in chips and applications [Relation] cause [Effect] propel mid- to high-teens growth for Synopsys' newer software integrity segment",
    "gold": "[Cause] the increasing awareness of the importance of software security in chips and applications [Relation] cause [Effect] total revenue surpassing $700 million in fiscal 2025",
    "valid": false
  },
  {
    "input": "The $3 billion of cash proceeds from its renewable energy, NRG Yield, and South Central business sales helped NRG finance the Direct Energy acquisition with no new equity.",
    "output": "[Cause] The $3 billion of cash proceeds from its renewable energy, NRG Yield, and South Central business sales [Relation] enable [Effect] helped NRG finance the Direct Energy acquisition with no new equity",
    "gold": "[Cause] The $3 billion of cash proceeds from its renewable energy, NRG Yield, and South Central business sales [Relation] enable [Effect] helped NRG finance the Direct Energy acquisition with no new equity",
    "valid": true
  },
  {
    "input": "We suspect that the traffic-driving values that Costco offers in its stores are fueled by cost leverage and procurement strength that, in turn, feeds additional store visits.",
    "output": "[Cause] cost leverage and procurement strength [Relation] enable [Effect] traffic-driving values that Costco offers in its stores",
    "gold": "[Cause] cost leverage and procurement strength [Relation] enable [Effect] feeds additional store visits",
    "valid": false
  },
  {
    "input": "Given the high degree of operating leverage in the company's business, moderate changes in revenue can have an outsize effect on earnings.",
    "output": "[Cause] high degree of operating leverage in the company's business [Relation] cause [Effect] moderate changes in revenue can have an outsize effect on earnings",
    "gold": "[Cause] the high degree of operating leverage [Relation] cause [Effect] moderate changes in revenue can have an outsize effect on earnings",
    "valid": false
  },
  {
    "input": "Given the high degree of operating leverage in the company's business, moderate changes in revenue can have an outsize effect on earnings.",
    "output": "[Cause] high degree of operating leverage in the company's business [Relation] cause [Effect] moderate changes in revenue can have an outsize effect on earnings",
    "gold": "[Cause] moderate changes [Relation] enable [Effect] an outsize effect on earnings",
    "valid": false
  },
  {
    "input": "COVID-19 had a pronounced impact on global travel demand, causing Las Vegas Sands' total 2020 revenue to decline 74%.",
    "output": "[Cause] COVID-19 had a pronounced impact on global travel demand [Relation] cause [Effect] causing Las Vegas Sands' total 2020 revenue to decline 74%",
    "gold": "[Cause] COVID-19 [Relation] cause [Effect] a pronounced impact on global travel demand",
    "valid": false
  },
  {
    "input": "We acknowledge that P&G's mix of essential, trusted items are being propped up at present by the pandemic, with consumers' proclivity for personal and home cleaning and health-related fare.",
    "output": "[Cause] consumers' proclivity for personal and home cleaning and health-related fare [Relation] enable [Effect] P&G's mix of essential, trusted items are being propped up at present by the pandemic",
    "gold": "[Cause] consumers' proclivity for personal and home cleaning and health-related fare [Relation] cause [Effect] P&G's mix of essential, trusted items are being propped up at present by the pandemic",
    "valid": true
  },
  {
    "input": "The Core-Mark acquisition will materially add to sales in 2022 and 2023, and we assume a 1% contribution from small tuck-in acquisitions in 2024 and beyond.",
    "output": "[Cause] The Core-Mark acquisition and small tuck-in acquisitions [Relation] cause [Effect] materially add to sales in 2022 and 2023 and assume a 1% contribution from small tuck-in acquisitions in 2024 and beyond",
    "gold": "[Cause] The Core-Mark acquisition will materially add to sales in 2022 and 2023 [Relation] cause [Effect] a 1% contribution from small tuck-in acquisitions in 2024 and beyond",
    "valid": false
  },
  {
    "input": "Many companies are also placing increasing importance on chip customization as a point of differentiation. These trends have provided a boon for Cadence, as the firm's tools are essential for designers needing to keep pace with growing demands.",
    "output": "[Cause] Many companies are placing increasing importance on chip customization as a point of differentiation [Relation] cause [Effect] provided a boon for Cadence",
    "gold": "[Cause] Many companies are also placing increasing importance on chip customization as a point of differentiation [Relation] enable [Effect] provided a boon for Cadence, as the firm's tools are essential for designers needing to keep pace with growing demands",
    "valid": false
  },
  {
    "input": "The company produces chemicals from high-sulfur coal, which expose it to potential emissions regulations that could disproportionately affect Eastman over other chemicals producers that use only natural gas.",
    "output": "[Cause] The company produces chemicals from high-sulfur coal [Relation] cause [Effect] potential emissions regulations that could disproportionately affect Eastman",
    "gold": "[Cause] potential emissions regulations [Relation] cause [Effect] disproportionately affect Eastman",
    "valid": false
  },
  {
    "input": "The company's two core products are Munis, which is the core ERP system, and Odyssey, which is the court management system. These systems enable normal operations of governmental units, including financial management, human resources, revenue management, tax billing, and asset management.",
    "output": "[Cause] The company's two core products are Munis and Odyssey [Relation] enable [Effect] enable normal operations of governmental units, including financial management, human resources, revenue management, tax billing, and asset management",
    "gold": "[Cause] The company's two core products are Munis, which is the core ERP system, and Odyssey, which is the court management system [Relation] enable [Effect] normal operations of governmental units, including financial management, human resources, revenue management, tax billing, and asset management",
    "valid": false
  },
  {
    "input": "However, as share-based compensation represents a significant portion of operating costs, we don't expect GAAP operating income or net income to turn positive until the middle of the decade.",
    "output": "[Cause] share-based compensation represents a significant portion of operating costs [Relation] prevent [Effect] GAAP operating income or net income to turn positive until the middle of the decade",
    "gold": "[Cause] share-based compensation represents a significant portion of operating costs [Relation] prevent [Effect] GAAP operating income or net income to turn positive until the middle of the decade",
    "valid": true
  },
  {
    "input": "Not only do Latin America and Iberia share the Spanish or Portuguese language, but there are also meaningful trade flows between the regions, based on a shared history.",
    "output": "[Cause] Latin America and Iberia share the Spanish or Portuguese language, shared history [Relation] enable [Effect] meaningful trade flows between the regions",
    "gold": "[Cause] a shared history [Relation] enable [Effect] meaningful trade flows between the regions",
    "valid": false
  },
  {
    "input": "We are raising our fair value estimate on Urban Outfitters to $31 per share from $29 as it recovers from a 13% sales decline in fiscal 2021 due to the pandemic.",
    "output": "[Cause] recovery from a 13% sales decline in fiscal 2021 due to the pandemic [Relation] cause [Effect] raising fair value estimate on Urban Outfitters to $31 per share from $29",
    "gold": "[Cause] the pandemic [Relation] cause [Effect] a 13% sales decline",
    "valid": false
  },
  {
    "input": "We are raising our fair value estimate on Urban Outfitters to $31 per share from $29 as it recovers from a 13% sales decline in fiscal 2021 due to the pandemic.",
    "output": "[Cause] recovery from a 13% sales decline in fiscal 2021 due to the pandemic [Relation] cause [Effect] raising our fair value estimate on Urban Outfitters to $31 per share from $29",
    "gold": "[Cause] it recovers from a 13% sales decline in fiscal 2021 [Relation] cause [Effect] We are raising our fair value estimate on Urban Outfitters to $31 per share from",
    "valid": false
  },
  {
    "input": "On the yield side, we expect Carnival to see modest pricing pressure to entice cruisers back onto the product after COVID-19 subsides (mitigated somewhat by lower total capacity as older ships are scrapped or sold).",
    "output": "[Cause] pricing pressure to entice cruisers back onto the product after COVID-19 subsides [Relation] cause [Effect] Carnival to see modest pricing pressure",
    "gold": "[Cause] Carnival to see modest pricing pressure [Relation] cause [Effect] entice cruisers back onto the product after COVID-19 subsides",
    "valid": false
  },
  {
    "input": "Changing an engineering team to a Creo team from a Catia team would involve significant retraining and pose significant risks.",
    "output": "[Cause] Changing an engineering team to a Creo team from a Catia team [Relation] cause [Effect] involve significant retraining, pose significant risks",
    "gold": "[Cause] Changing an engineering team to a Creo team from a Catia team [Relation] enable [Effect] involve significant retraining and pose significant risks",
    "valid": false
  },
  {
    "input": "Because of its R&amp;D efforts and technical know-how, Honeywell has virtually shut out other competitors in awarded contracts for avionics (aviation electronics), auxiliary power units, and mechanical systems (for example landing gear) since 2013.",
    "output": "[Cause] R&D efforts and technical know-how of Honeywell [Relation] enable [Effect] Honeywell has virtually shut out other competitors in awarded contracts for avionics, auxiliary power units, and mechanical systems since 2013",
    "gold": "[Cause] its R&amp;D efforts and technical know-how [Relation] enable [Effect] Honeywell has virtually shut out other competitors in awarded contracts for avionics (aviation electronics), auxiliary power units, and mechanical systems (for example landing gear) since 2013",
    "valid": false
  },
  {
    "input": "The good news is that, on average, e-commerce warehousing requires about three times more space as traditional warehousing, so the increased demand has allowed the company to construct speculative developments, which often carry higher margins, albeit with more risk.",
    "output": "[Cause] increased demand for e-commerce warehousing [Relation] enable [Effect] the company can construct speculative developments",
    "gold": "[Cause] e-commerce warehousing requires about three times more space as traditional warehousing [Relation] cause [Effect] the increased demand has allowed the company to construct speculative developments",
    "valid": false
  },
  {
    "input": "The good news is that, on average, e-commerce warehousing requires about three times more space as traditional warehousing, so the increased demand has allowed the company to construct speculative developments, which often carry higher margins, albeit with more risk.",
    "output": "[Cause] increased demand for e-commerce warehousing [Relation] enable [Effect] the company can construct speculative developments",
    "gold": "[Cause] the increased demand has allowed the company to construct speculative developments [Relation] cause [Effect] higher margins, albeit with more risk",
    "valid": false
  },
  {
    "input": "Following fourth-quarter results, we are raising our margin forecasts to give CSX more credit for solid PSR-related execution given the firm's steady efficiency gains.",
    "output": "[Cause] solid PSR-related execution given the firm's steady efficiency gains [Relation] enable [Effect] raising margin forecasts to give CSX more credit",
    "gold": "[Cause] the firm's steady efficiency gains [Relation] cause [Effect] raising our margin forecasts to give CSX more credit for solid PSR-related execution",
    "valid": false
  },
  {
    "input": "The E&amp;P business also faced new challenges as the government revised existing oil and gas laws so that Petrobras would have to participate in future offshore licenses at less attractive financial terms.",
    "output": "[Cause] the government revised existing oil and gas laws [Relation] cause [Effect] Petrobras would have to participate in future offshore licenses at less attractive financial terms",
    "gold": "[Cause] government revised existing oil and gas laws [Relation] cause [Effect] The E&amp;P business also faced new challenges",
    "valid": false
  },
  {
    "input": "However, we remain optimistic about the sector's longer-term prospects given that the industry should eventually recover from the impact of the virus, supply will likely fall below the historical average in the coming years, and the demographic boon will create a massive spike in demand for senior housing.",
    "output": "[Cause] the industry should eventually recover from the impact of the virus [Relation] cause [Effect] longer-term prospects of the sector remain optimistic",
    "gold": "[Cause] the industry should eventually recover from the impact of the virus, supply will likely fall below the historical average in the coming years, and the demographic boon will create a massive spike in demand for senior housing. [Relation] enable [Effect] we remain optimistic about the sector's longer-term prospects given",
    "valid": false
  },
  {
    "input": "We consider occupancy rate at a historically high level and project that it will gradually approach 90% once the overall portfolio becomes more representative of the recent expansion.",
    "output": "[Cause] the overall portfolio becomes more representative of the recent expansion [Relation] cause [Effect] occupancy rate will gradually approach 90%",
    "gold": "[Cause] the overall portfolio becomes more representative of the recent expansion [Relation] cause [Effect] We consider occupancy rate at a historically high level and project that it will gradually approach 90%",
    "valid": false
  },
  {
    "input": "As IT teams offload workloads to public clouds and embrace hybrid-cloud environments, we believe enterprises will continue to use rely on networking equipment leaders for managing and securing the interconnections between all the data locations.",
    "output": "[Cause] IT teams offload workloads to public clouds and embrace hybrid-cloud environments [Relation] cause [Effect] enterprises will continue to rely on networking equipment leaders for managing and securing the interconnections between all the data locations",
    "gold": "[Cause] IT teams offload workloads to public clouds and embrace hybrid-cloud environments [Relation] cause [Effect] we believe enterprises will continue to use rely on networking equipment leaders for managing and securing the interconnections between all the data locations",
    "valid": false
  },
  {
    "input": "For instance, in 2018, the Brazilian real's strong depreciation to the euro caused a negative exchange rate effect of 16%. As a result, despite a stable organic revenues year on year in the Brazilian market, the reported revenue generated in Brazil decreased by 15.8% over 2017.",
    "output": "[Cause] the Brazilian real's strong depreciation to the euro [Relation] cause [Effect] negative exchange rate effect of 16%",
    "gold": "[Cause] For instance, in 2018, the Brazilian real's strong depreciation to the euro caused a negative exchange rate effect of 16% [Relation] cause [Effect] despite a stable organic revenues year on year in the Brazilian market, the reported revenue generated in Brazil decreased by 15.8% over 2017",
    "valid": false
  },
  {
    "input": "These advantages manifest themselves in the form of lower operating costs, lower credit costs, lower regulatory costs, and lower absolute levels and better diversification of risk, all of which allow the banks to achieve greater risk-adjusted returns.",
    "output": "[Cause] lower operating costs, lower credit costs, lower regulatory costs, lower absolute levels and better diversification of risk [Relation] enable [Effect] allow the banks to achieve greater risk-adjusted returns",
    "gold": "[Cause] These advantages manifest themselves in the form of lower operating costs, lower credit costs, lower regulatory costs, and lower absolute levels and better diversification of risk [Relation] enable [Effect] the banks to achieve greater risk-adjusted returns",
    "valid": false
  },
  {
    "input": "Also, once a drug's key patents expire, generic manufacturers often seek to utilize the same production methods that were used by the branded manufacturer to reduce product variability, and that adoption by generic manufacturers can create an even longer benefit period for Agilent on a specific molecule.",
    "output": "[Cause] generic manufacturers seek to utilize the same production methods that were used by the branded manufacturer to reduce product variability [Relation] cause [Effect] create an even longer benefit period for Agilent on a specific molecule",
    "gold": "[Cause] a drug's key patents expire [Relation] cause [Effect] generic manufacturers often seek to utilize the same production methods that were used by the branded manufacturer to reduce product variability",
    "valid": false
  },
  {
    "input": "Also, once a drug's key patents expire, generic manufacturers often seek to utilize the same production methods that were used by the branded manufacturer to reduce product variability, and that adoption by generic manufacturers can create an even longer benefit period for Agilent on a specific molecule.",
    "output": "[Cause] generic manufacturers seeking to utilize the same production methods [Relation] enable [Effect] create an even longer benefit period for Agilent on a specific molecule",
    "gold": "[Cause] adoption by generic manufacturers [Relation] cause [Effect] create an even longer benefit period for Agilent on a specific molecule",
    "valid": false
  },
  {
    "input": "Additionally, the service business backed by a major national brand, as the commercial business coming from Interline and HD Supply could build brand loyalty and keep consumers returning to a trusted source, something that could be hard to duplicate for a new entrant.",
    "output": "[Cause] the service business backed by a major national brand, as the commercial business coming from Interline and HD Supply could build brand loyalty [Relation] enable [Effect] keep consumers returning to a trusted source, something that could be hard to duplicate for a new entrant",
    "gold": "[Cause] the service business backed by a major national brand, as the commercial business coming from Interline and HD Supply [Relation] enable [Effect] build brand loyalty and keep consumers returning to a trusted source",
    "valid": false
  },
  {
    "input": "An aggregated view of all personal and financial information, updated in real time, is also advantageous to customers taking multiple products.",
    "output": "[Cause] An aggregated view of all personal and financial information, updated in real time [Relation] enable [Effect] advantageous to customers taking multiple products",
    "gold": "[Cause] An aggregated view of all personal and financial information, updated in real time [Relation] cause [Effect] advantageous to customers taking multiple products",
    "valid": true
  },
  {
    "input": "First, as the 9,800 miles of pipes across 15 states connects refineries to end markets such as gas stations via 54 Magellan terminals, demand is highly stable as it depends on consumer demand in terms of miles driven and fuel efficiency.",
    "output": "[Cause] 9,800 miles of pipes across 15 states connects refineries to end markets such as gas stations via 54 Magellan terminals [Relation] enable [Effect] demand is highly stable as it depends on consumer demand in terms of miles driven and fuel efficiency",
    "gold": "[Cause] it depends on consumer demand in terms of miles driven and fuel efficiency [Relation] cause [Effect] the 9,800 miles of pipes across 15 states connects refineries to end markets such as gas stations via 54 Magellan terminals, demand is highly stabl",
    "valid": false
  },
  {
    "input": "Longer term, we think this is a segment that will grow at around 3.5%, in line with consumer products more broadly, as pricemix is likely to be more limited.",
    "output": "[Cause] pricemix is likely to be more limited [Relation] cause [Effect] segment will grow at around 3.5%, in line with consumer products more broadly",
    "gold": "[Cause] pricemix is likely to be more limited [Relation] cause [Effect] this is a segment that will grow at around 3.5%",
    "valid": false
  },
  {
    "input": "As networks expand operations and increase wireless access points, Cisco's wireless products can become more deeply ingrained in a customer's network.",
    "output": "[Cause] networks expand operations and increase wireless access points [Relation] enable [Effect] Cisco's wireless products can become more deeply ingrained in a customer's network",
    "gold": "[Cause] networks expand operations and increase wireless access points [Relation] cause [Effect] Cisco's wireless products can become more deeply ingrained in a customer's network",
    "valid": true
  },
  {
    "input": "Wine/spirits will be more of a mixed bag, as the firm seeks to realign its portfolio following the divestiture of underperforming brands to E&J Gallo by the end of fiscal 2021 (to focus on what management refers to as ''''''''Power Brands'''''''').",
    "output": "[Cause] the divestiture of underperforming brands to E&J Gallo [Relation] cause [Effect] the firm seeks to realign its portfolio",
    "gold": "[Cause] the firm seeks to realign its portfolio following the divestiture of underperforming brands to E&J Gallo by the end of fiscal 2021 (to focus on what management refers to as ''''''''Power Brands'''''''') [Relation] cause [Effect] Wine/spirits will be more of a mixed bag",
    "valid": false
  },
  {
    "input": "This suggests it will likely follow peers in announcing an acceleration in the timing and increase in the amount of its renewable energy investments as it pursues its emission intensity targets.",
    "output": "[Cause] pursuing emission intensity targets [Relation] cause [Effect] likely follow peers in announcing an acceleration in the timing and increase in the amount of its renewable energy investments",
    "gold": "[Cause] it will likely follow peers in announcing an acceleration in the timing and increase in the amount of its renewable energy investments [Relation] enable [Effect] it pursues its emission intensity targets",
    "valid": false
  },
  {
    "input": "Zions' interest expense relative to total deposits has improved substantially relative to peers over the past cycle, largely driven by huge gains in non-interest-bearing deposits and its slightly lower-than-average cost of interest-bearing deposits.",
    "output": "[Cause] huge gains in non-interest-bearing deposits and its slightly lower-than-average cost of interest-bearing deposits [Relation] cause [Effect] Zions' interest expense relative to total deposits has improved substantially relative to peers over the past cycle",
    "gold": "[Cause] huge gains in non-interest-bearing deposits and its slightly lower-than-average cost of interest-bearing deposits [Relation] cause [Effect] Zions' interest expense relative to total deposits has improved substantially relative to peers over the past cycle",
    "valid": true
  },
  {
    "input": "As such, full-cycle break-even costs exceed $60/boe WTI, hampering Crescent Point's ability to generate sustainable excess returns on invested capital.",
    "output": "[Cause] full-cycle break-even costs exceed $60/boe WTI [Relation] prevent [Effect] hampering Crescent Point's ability to generate sustainable excess returns on invested capital",
    "gold": "[Cause] full-cycle break-even costs exceed $60/boe WTI [Relation] prevent [Effect] hampering Crescent Point's ability to generate sustainable excess returns on invested capital",
    "valid": true
  },
  {
    "input": "Seagate's consumer HDD revenue has been declining in the high-teens over the past several years as consumer SSDs have come close enough to cost parity to establish mainstream crossover.",
    "output": "[Cause] consumer SSDs have come close enough to cost parity to establish mainstream crossover [Relation] enable [Effect] Seagate's consumer HDD revenue has been declining in the high-teens over the past several years",
    "gold": "[Cause] consumer SSDs have come close enough to cost parity to establish mainstream crossover [Relation] cause [Effect] Seagate's consumer HDD revenue has been declining in the high-teens over the past several years",
    "valid": true
  },
  {
    "input": "Twilio is a leading communications platform as a service, or cPaaS, firm that enables developers to integrate communications capabilities such as messaging, voice, and video into client-facing products, thus helping businesses strengthen customer engagement worldwide.",
    "output": "[Cause] Twilio enables developers to integrate communications capabilities into client-facing products [Relation] enable [Effect] helping businesses strengthen customer engagement worldwide",
    "gold": "[Cause] enables developers to integrate communications capabilities such as messaging, voice, and video into client-facing products, [Relation] enable [Effect] helping businesses strengthen customer engagement worldwide.",
    "valid": false
  },
  {
    "input": "We also think there is more room for margin expansion in the technology and analytics segment with automation helping to reduce costs.",
    "output": "[Cause] automation helping to reduce costs [Relation] enable [Effect] more room for margin expansion in the technology and analytics segment",
    "gold": "[Cause] automation [Relation] enable [Effect] reduce costs",
    "valid": false
  },
  {
    "input": "Should Nvidia be successful in acquiring ARM and realizing its goal of developing a server CPU based on ARM architecture (something both Broadcom and Qualcomm failed at), there is a strong potential for Nvidia to realize substantial revenue synergies in its data center segment.",
    "output": "[Cause] Nvidia acquiring ARM and developing a server CPU based on ARM architecture [Relation] enable [Effect] strong potential for Nvidia to realize substantial revenue synergies in its data center segment",
    "gold": "[Cause] Should Nvidia be successful in acquiring ARM and realizing its goal of developing a server CPU based on ARM architecture (something both Broadcom and Qualcomm failed at) [Relation] enable [Effect] there is a strong potential for Nvidia to realize substantial revenue synergies in its data center segment",
    "valid": false
  },
  {
    "input": "A new wave of high-margin projects combined with reduced capital spending should bolster free cash flow growth and improve returns.",
    "output": "[Cause] A new wave of high-margin projects combined with reduced capital spending [Relation] enable [Effect] bolster free cash flow growth and improve returns",
    "gold": "[Cause] A new wave of high-margin projects combined with reduced capital spending [Relation] enable [Effect] bolster free cash flow growth and improve returns",
    "valid": true
  },
  {
    "input": "Ferguson's RMI exposure should support future revenue stability and margin expansion opportunities as project work in the repair and remodel market is typically less cyclical with higher profit margins compared with new construction projects (RMI projects are usually smaller and nondiscretionary).",
    "output": "[Cause] RMI exposure should support future revenue stability and margin expansion opportunities [Relation] enable [Effect] project work in the repair and remodel market is typically less cyclical with higher profit margins compared with new construction projects",
    "gold": "[Cause] project work in the repair and remodel market is typically less cyclical with higher profit margins compared with new construction projects (RMI projects are usually smaller and nondiscretionary) [Relation] cause [Effect] Ferguson's RMI exposure should support future revenue stability and margin expansion opportunities",
    "valid": false
  },
  {
    "input": "Our fair value uncertainty rating for Facebook is high, based on uncertainty over future advertising growth rates and additional regulations restricting Facebook's access to and use of data, both of which drive growth in the firm's source of revenue.",
    "output": "[Cause] uncertainty over future advertising growth rates and additional regulations restricting Facebook's access to and use of data [Relation] cause [Effect] fair value uncertainty rating for Facebook is high",
    "gold": "[Cause] uncertainty over future advertising growth rates and additional regulations restricting Facebook's access to and use of data [Relation] cause [Effect] growth in the firm's source of revenue",
    "valid": false
  },
  {
    "input": "While the firm periodically will refine the size and location of offices to adjust for demand fluctuations, its global network is largely established.",
    "output": "[Cause] firm periodically refining the size and location of offices to adjust for demand fluctuations [Relation] enable [Effect] global network largely established",
    "gold": "[Cause] the firm periodically will refine the size and location of offices to adjust for demand fluctuations [Relation] cause [Effect] demand fluctuations",
    "valid": false
  },
  {
    "input": "That said, asset-based truckers often see temporary margin benefits during periods of rapid fuel price declines, as it takes time to adjust fuel surcharge programs to shippers.",
    "output": "[Cause] periods of rapid fuel price declines [Relation] cause [Effect] asset-based truckers often see temporary margin benefits",
    "gold": "[Cause] it takes time to adjust fuel surcharge programs to shippers [Relation] cause [Effect] asset-based truckers often see temporary margin benefits during periods of rapid fuel price declines",
    "valid": false
  },
  {
    "input": "For example, the Medicare for All scenario debated in the Democratic primaries called for the elimination of the private insurance industry, which would have threatened much of the company's operations.",
    "output": "[Cause] the Medicare for All scenario debated in the Democratic primaries called for the elimination of the private insurance industry [Relation] cause [Effect] threatened much of the company's operations",
    "gold": "[Cause] the Medicare for All scenario debated in the Democratic primaries called for the elimination of the private insurance industry [Relation] cause [Effect] threatened much of the company's operations",
    "valid": true
  },
  {
    "input": "Similarly, once a chip is designed into a device, it is rarely swapped out, particularly in cases where parts need to be qualified to meet strict specifications.",
    "output": "[Cause] parts need to be qualified to meet strict specifications [Relation] cause [Effect] once a chip is designed into a device, it is rarely swapped out",
    "gold": "[Cause] a chip is designed into a device [Relation] prevent [Effect] swapped out",
    "valid": false
  },
  {
    "input": "Over the next five years, we forecast operating margin contraction of 70 basis points, due to the tough comparison of fiscal 2021 that saw abnormal margins from COVID-19 tailwinds, including high employee utilization and offshore mix.",
    "output": "[Cause] tough comparison of fiscal 2021 that saw abnormal margins from COVID-19 tailwinds, including high employee utilization and offshore mix [Relation] cause [Effect] operating margin contraction of 70 basis points",
    "gold": "[Cause] the tough comparison of fiscal 2021 [Relation] cause [Effect] operating margin contraction of 70 basis points",
    "valid": false
  },
  {
    "input": "Over the next five years, we forecast operating margin contraction of 70 basis points, due to the tough comparison of fiscal 2021 that saw abnormal margins from COVID-19 tailwinds, including high employee utilization and offshore mix.",
    "output": "[Cause] tough comparison of fiscal 2021 that saw abnormal margins from COVID-19 tailwinds, including high employee utilization and offshore mix [Relation] cause [Effect] forecast operating margin contraction of 70 basis points",
    "gold": "[Cause] COVID-19 tailwinds [Relation] cause [Effect] abnormal margins",
    "valid": false
  },
  {
    "input": "Over the next five years, we forecast operating margin contraction of 70 basis points, due to the tough comparison of fiscal 2021 that saw abnormal margins from COVID-19 tailwinds, including high employee utilization and offshore mix.",
    "output": "[Cause] tough comparison of fiscal 2021 that saw abnormal margins from COVID-19 tailwinds, including high employee utilization and offshore mix [Relation] cause [Effect] operating margin contraction of 70 basis points",
    "gold": "[Cause] high employee utilization and offshore mix [Relation] cause [Effect] abnormal margins",
    "valid": false
  },
  {
    "input": "MetLife also is divesting its property and casualty insurance (auto) business, which we believe makes sense as there is minimal strategic benefit to having a small auto insurance business in its portfolio.",
    "output": "[Cause] there is minimal strategic benefit to having a small auto insurance business in its portfolio [Relation] cause [Effect] MetLife is divesting its property and casualty insurance (auto) business",
    "gold": "[Cause] there is minimal strategic benefit to having a small auto insurance business in its portfolio [Relation] cause [Effect] MetLife also is divesting its property and casualty insurance (auto) business, which we believe makes sense",
    "valid": false
  },
  {
    "input": "If Grifols is unable to bring an IG product to market with higher pricing power (like Takeda's HyQvia or CSL's Hizentra), it could lose market share.",
    "output": "[Cause] Grifols is unable to bring an IG product to market with higher pricing power [Relation] cause [Effect] it could lose market share",
    "gold": "[Cause] Grifols is unable to bring an IG product to market with higher pricing power [Relation] cause [Effect] it could lose market share",
    "valid": true
  },
  {
    "input": "In our view, Cogent's biggest ESG risk is that of a data or security breach, given the firm is one of the biggest Internet transit providers in the world and runs corporate networks, resulting in individuals' and corporations' most sensitive information in its care.",
    "output": "[Cause] Cogent is one of the biggest Internet transit providers in the world and runs corporate networks, resulting in individuals' and corporations' most sensitive information in its care. [Relation] cause [Effect] ESG risk of a data or security breach",
    "gold": "[Cause] the firm is one of the biggest Internet transit providers in the world and runs corporate networks [Relation] cause [Effect] individuals' and corporations' most sensitive information in its care",
    "valid": false
  },
  {
    "input": "In response, Nike took the possibly unprecedented step of reducing its minimum advertised price to move excess inventory.",
    "output": "[Cause] excess inventory [Relation] cause [Effect] Nike took the possibly unprecedented step of reducing its minimum advertised price to move excess inventory",
    "gold": "[Cause] reducing its minimum advertised price [Relation] enable [Effect] move excess inventory",
    "valid": false
  },
  {
    "input": "Broadly, the firm is an acquisitive holding company that targets firms that produce proprietary aircraft components with high aftermarket content, thus benefiting from razor-and-blade business models.",
    "output": "[Cause] targeting firms that produce proprietary aircraft components with high aftermarket content [Relation] cause [Effect] benefiting from razor-and-blade business models",
    "gold": "[Cause] the firm is an acquisitive holding company that targets firms that produce proprietary aircraft components with high aftermarket content [Relation] enable [Effect] benefiting from razor-and-blade business models",
    "valid": false
  },
  {
    "input": "Broadly, the firm is an acquisitive holding company that targets firms that produce proprietary aircraft components with high aftermarket content, thus benefiting from razor-and-blade business models.",
    "output": "[Cause] the firm targets firms that produce proprietary aircraft components with high aftermarket content [Relation] cause [Effect] benefiting from razor-and-blade business models",
    "gold": "[Cause] the firm is an acquisitive holding company that targets firms that produce proprietary aircraft components with high aftermarket content [Relation] enable [Effect] benefiting from razor-and-blade business models",
    "valid": false
  },
  {
    "input": "As more buyers and sellers trade a proprietary product, it becomes increasingly liquid and therefore cheaper for investors to transact business on a single exchange.",
    "output": "[Cause] more buyers and sellers trade a proprietary product [Relation] enable [Effect] it becomes increasingly liquid",
    "gold": "[Cause] more buyers and sellers trade a proprietary product [Relation] cause [Effect] cheaper for investors to transact business on a single exchange",
    "valid": false
  },
  {
    "input": "The industry is already full of strong competition, so it is nearly impossible for one firm to gain a sustainable advantage.",
    "output": "[Cause] The industry is already full of strong competition [Relation] prevent [Effect] it is nearly impossible for one firm to gain a sustainable advantage",
    "gold": "[Cause] The industry is already full of strong competition [Relation] enable [Effect] it is nearly impossible for one firm to gain a sustainable advantage",
    "valid": true
  },
  {
    "input": "As evidence of Coach's superior pricing power, its gross margins (currently about 73%) have been consistently higher than those of Michael Kors (currently about 63%).",
    "output": "[Cause] Coach's superior pricing power [Relation] enable [Effect] its gross margins have been consistently higher than those of Michael Kors",
    "gold": "[Cause] its gross margins (currently about 73%) have been consistently higher than those of Michael Kors [Relation] cause [Effect] Coach's superior pricing power",
    "valid": false
  },
  {
    "input": "We expect revenue to grow at an organic 5% annualized rate over our five-year forecast period as automaker customers focus on reducing vehicle emissions and launch electrified vehicle models.",
    "output": "[Cause] automaker customers focus on reducing vehicle emissions and launch electrified vehicle models [Relation] enable [Effect] revenue to grow at an organic 5% annualized rate over our five-year forecast period",
    "gold": "[Cause] automaker customers focus on reducing vehicle emissions and launch electrified vehicle models [Relation] cause [Effect] revenue to grow at an organic 5% annualized rate over our five-year forecast period",
    "valid": true
  },
  {
    "input": "There are industry constituents that also have sizable franchises and financial resources, which could cause the competitive environment to become promotional.",
    "output": "[Cause] industry constituents that also have sizable franchises and financial resources [Relation] cause [Effect] the competitive environment to become promotional",
    "gold": "[Cause] industry constituents that also have sizable franchises and financial resources [Relation] cause [Effect] the competitive environment to become promotional",
    "valid": true
  },
  {
    "input": "Avnet has made similar moves to address the growing \"\"\"\"maker\"\"\"\" market by acquiring Dragon Innovation and Hackster.io, and by securing a partnership with Kickstarter.",
    "output": "[Cause] to address the growing \"maker\" market [Relation] enable [Effect] Avnet has made similar moves by acquiring Dragon Innovation and Hackster.io, and by securing a partnership with Kickstarter",
    "gold": "[Cause] acquiring Dragon Innovation and Hackster.io, and by securing a partnership with Kickstarter [Relation] cause [Effect] the growing \"\"\"\"maker\"\"\"\" market",
    "valid": false
  },
  {
    "input": "We believe the substantial technical know-how required to build missiles and integrate missiles within various military aircraft provides a steep barrier to entry, and that non-defense contractors would be unwilling to make the substantial fixed cost investment required to enter this market.",
    "output": "[Cause] the substantial technical know-how required to build missiles and integrate missiles within various military aircraft [Relation] cause, prevent [Effect] a steep barrier to entry",
    "gold": "[Cause] the substantial technical know-how required to build missiles and integrate missiles within various military aircraft [Relation] enable [Effect] a steep barrier to entry",
    "valid": true
  },
  {
    "input": "By building a fleet of rigs optimal for the efficient horizontal drilling that offers the best economics for oil and gas producers, H&P has positioned itself on the leading edge of industry trends.",
    "output": "[Cause] building a fleet of rigs optimal for efficient horizontal drilling [Relation] enable [Effect] H&P has positioned itself on the leading edge of industry trends",
    "gold": "[Cause] building a fleet of rigs optimal for the efficient horizontal drilling [Relation] enable [Effect] offers the best economics for oil and gas producers",
    "valid": false
  },
  {
    "input": "By building a fleet of rigs optimal for the efficient horizontal drilling that offers the best economics for oil and gas producers, H&P has positioned itself on the leading edge of industry trends.",
    "output": "[Cause] building a fleet of rigs optimal for efficient horizontal drilling [Relation] enable [Effect] H&P has positioned itself on the leading edge of industry trends",
    "gold": "[Cause] offers the best economics for oil and gas producers [Relation] cause [Effect] H&P has positioned itself on the leading edge of industry trends",
    "valid": false
  },
  {
    "input": "Customer service is another mission-critical function that directly helps a company attract and retain customers and therefore also is associated with driving revenue.",
    "output": "[Cause] Customer service is another mission-critical function [Relation] enable [Effect] directly helps a company attract and retain customers",
    "gold": "[Cause] directly helps a company attract and retain customers [Relation] cause [Effect] Customer service is another mission-critical function",
    "valid": false
  },
  {
    "input": "If DAPL were to shut down permanently (we estimate a 50% probability this could occur), Oneok's exposure is less than $50 million in EBITDA in 2021 (assuming an April shutdown), so perhaps up to $75 million annually.",
    "output": "[Cause] DAPL shut down permanently (with a 50% probability) [Relation] cause [Effect] Oneok's exposure is less than $50 million in EBITDA in 2021 (assuming an April shutdown), so perhaps up to $75 million annually",
    "gold": "[Cause] DAPL were to shut down permanently (we estimate a 50% probability this could occur) [Relation] cause [Effect] Oneok's exposure is less than $50 million in EBITDA in 2021 (assuming an April shutdown)",
    "valid": false
  },
  {
    "input": "If DAPL were to shut down permanently (we estimate a 50% probability this could occur), Oneok's exposure is less than $50 million in EBITDA in 2021 (assuming an April shutdown), so perhaps up to $75 million annually.",
    "output": "[Cause] If DAPL were to shut down permanently (we estimate a 50% probability this could occur) [Relation] cause [Effect] Oneok's exposure is less than $50 million in EBITDA in 2021 (assuming an April shutdown), so perhaps up to $75 million annually.",
    "gold": "[Cause] Oneok's exposure is less than $50 million in EBITDA in 2021 (assuming an April shutdown) [Relation] cause [Effect] perhaps up to $75 million annually",
    "valid": false
  },
  {
    "input": "For one, concerns surrounding COVID-19 have plagued its professional segment prospects (with underlying sales that slumped 6% in fiscal 2020), as this business derives more than half of its sales from washroom products in offices and travel locations that continue to suffer from low traffic.",
    "output": "[Cause] concerns surrounding COVID-19 [Relation] cause [Effect] professional segment prospects plagued, underlying sales slumped 6% in fiscal 2020",
    "gold": "[Cause] this business derives more than half of its sales from washroom products in offices and travel locations that continue to suffer from low traffic [Relation] cause [Effect] concerns surrounding COVID-19 have plagued its professional segment prospects (with underlying sales that slumped 6% in fiscal 2020)",
    "valid": false
  },
  {
    "input": "ING's other operations, outside of its German business, does detract somewhat from overall profitability, ING has generated a consolidated average ROE of 11% over the last three years.",
    "output": "[Cause] ING's other operations, outside of its German business, does detract somewhat from overall profitability [Relation] cause [Effect] ING has generated a consolidated average ROE of 11% over the last three years",
    "gold": "[Cause] ING's other operations, outside of its German business [Relation] prevent [Effect] overall profitability",
    "valid": false
  },
  {
    "input": "The dividend increase in the first quarter of 2020 was only 2.6%, and no increase is expected in 2021 due to the fallout from the bribery scandal.",
    "output": "[Cause] fallout from the bribery scandal [Relation] prevent [Effect] no increase in the dividend in 2021",
    "gold": "[Cause] the fallout from the bribery scandal [Relation] cause [Effect] no increase is expected in 2021",
    "valid": false
  },
  {
    "input": "Additionally, higher inflation could limit earnings growth since Mettler may find it difficult to pass along price increases to customers above the typical 2%-3% range.",
    "output": "[Cause] higher inflation [Relation] cause [Effect] could limit earnings growth",
    "gold": "[Cause] Mettler may find it difficult to pass along price increases to customers above the typical 2%-3% range [Relation] cause [Effect] higher inflation could limit earnings growth",
    "valid": false
  },
  {
    "input": "As Wesco expands its top line, we expect operating margins will improve as it realizes operating leverage and synergies from the Anixter acquisition.",
    "output": "[Cause] As Wesco expands its top line [Relation] enable [Effect] operating margins will improve as it realizes operating leverage and synergies from the Anixter acquisition",
    "gold": "[Cause] it realizes operating leverage and synergies from the Anixter acquisition [Relation] enable [Effect] operating margins will improve",
    "valid": false
  },
  {
    "input": "As Wesco expands its top line, we expect operating margins will improve as it realizes operating leverage and synergies from the Anixter acquisition.",
    "output": "[Cause] Wesco expands its top line [Relation] enable [Effect] operating margins will improve",
    "gold": "[Cause] Wesco expands its top line [Relation] enable [Effect] operating margins will improve",
    "valid": true
  },
  {
    "input": "We expect Honda to not grow as well in China as firms such as General Motors and Volkswagen, as these larger firms have more product offerings in SUVs, luxury models, and in GM's case full-size pickups.",
    "output": "[Cause] larger firms have more product offerings in SUVs, luxury models, and full-size pickups [Relation] prevent [Effect] Honda to not grow as well in China compared to General Motors and Volkswagen",
    "gold": "[Cause] these larger firms have more product offerings in SUVs, luxury models, and in GM's case full-size pickups [Relation] cause [Effect] Honda to not grow as well in China as firms such as General Motors and Volkswagen",
    "valid": false
  },
  {
    "input": "We're raising our fair value estimate for Regeneron to $500 from $473 after further increasing our Dupixent estimates and updating for recent U.S.",
    "output": "[Cause] further increasing our Dupixent estimates and updating for recent U.S. [Relation] cause [Effect] raising our fair value estimate for Regeneron to $500 from $473",
    "gold": "[Cause] further increasing our Dupixent estimates and updating for recent U.S. [Relation] enable [Effect] raising our fair value estimate for Regeneron to $500 from $473",
    "valid": true
  },
  {
    "input": "We see some evidence of customer switching costs as technicians become familiar with Matco's platform, and we expect the firm's SaaS-based offerings to help grow the business' recurring revenue stream and increase customer stickiness in the long run.",
    "output": "[Cause] technicians become familiar with Matco's platform [Relation] cause [Effect] evidence of customer switching costs",
    "gold": "[Cause] the firm's SaaS-based offerings [Relation] cause [Effect] help grow the business' recurring revenue stream and increase customer stickiness in the long run",
    "valid": false
  },
  {
    "input": "According to DHS, these types of monitors are also preferable because they provide a nonintrusive means of screening people, vehicles, or other objects when testing for the presence of these materials, saving governments time and expense.",
    "output": "[Cause] provide a nonintrusive means of screening people, vehicles, or other objects when testing for the presence of these materials [Relation] enable [Effect] saving governments time and expense",
    "gold": "[Cause] they provide a nonintrusive means of screening people, vehicles, or other objects when testing for the presence of these materials, saving governments time and expense [Relation] cause [Effect] these types of monitors are also preferable",
    "valid": false
  },
  {
    "input": "Furthermore, we think new emission regulation will likely be introduced gradually over the next decade. This will give LKQ time to continue evolving the sustainability of its operations and reducing its impact on the environment.",
    "output": "[Cause] new emission regulation will likely be introduced gradually over the next decade [Relation] cause [Effect] give LKQ time to continue evolving the sustainability of its operations and reducing its impact on the environment",
    "gold": "[Cause] new emission regulation will likely be introduced gradually over the next decade [Relation] enable [Effect] give LKQ time to continue evolving the sustainability of its operations and reducing its impact on the environment",
    "valid": true
  },
  {
    "input": "We think the firm's legacy segment, asset intelligence and tracking, will grow at an annual rate of 5% after 2020, maintaining Zebra's share in the slower-growth barcode printing market.",
    "output": "[Cause] maintaining Zebra's share in the slower-growth barcode printing market [Relation] cause [Effect] the firm's legacy segment, asset intelligence and tracking, will grow at an annual rate of 5% after 2020",
    "gold": "[Cause] the firm's legacy segment, asset intelligence and tracking, will grow at an annual rate of 5% after 2020, [Relation] cause [Effect] maintaining Zebra's share in the slower-growth barcode printing market",
    "valid": false
  },
  {
    "input": "Amphenol competes against myriad competitors in the fragmented electrical component industry, but its broad array of end markets allows it to grow the top line even in the midst of an individual market downturn.",
    "output": "[Cause] its broad array of end markets [Relation] enable [Effect] allows Amphenol to grow the top line even in the midst of an individual market downturn",
    "gold": "[Cause] its broad array of end markets [Relation] enable [Effect] it to grow the top line even in the midst of an individual market downturn",
    "valid": false
  },
  {
    "input": "Longer-acting products Aranesp and Neulasta were launched in 2001-02, just as the firm decided to acquire Immunex and bring immunology drug Enbrel into its portfolio. These highly profitable biologics continue to drive very strong Drug Manufacturers - Generalfree cash flows for the firm, generally around 40% of sales.",
    "output": "[Cause] Longer-acting products Aranesp and Neulasta were launched in 2001-02, acquired Immunex and brought immunology drug Enbrel into its portfolio [Relation] cause, enable [Effect] These highly profitable biologics continue to drive very strong Drug Manufacturers - General free cash flows for the firm, generally around 40% of sales",
    "gold": "[Cause] Longer-acting products Aranesp and Neulasta were launched in 2001-02, just as the firm decided to acquire Immunex and bring immunology drug Enbrel into its portfolio [Relation] enable [Effect] drive very strong Drug Manufacturers - Generalfree cash flows for the firm, generally around 40% of sales",
    "valid": false
  },
  {
    "input": "While we remain confident that Google will maintain its dominant position in the search market, a long-lasting downturn in online ad spending could have a negative impact on Alphabet's revenue and cash flow, resulting in a lower fair value estimate.",
    "output": "[Cause] a long-lasting downturn in online ad spending. [Relation] cause [Effect] negative impact on Alphabet's revenue and cash flow, resulting in a lower fair value estimate.",
    "gold": "[Cause] a long-lasting downturn in online ad spending [Relation] cause [Effect] a negative impact on Alphabet's revenue and cash flow, resulting in a lower fair value estimate",
    "valid": false
  },
  {
    "input": "We expect returns on invested capital to hover just above the firm's cost of capital after the company's Cameron liquid natural gas export project came on line.",
    "output": "[Cause] the company's Cameron liquid natural gas export project came on line [Relation] cause [Effect] returns on invested capital to hover just above the firm's cost of capital",
    "gold": "[Cause] the company's Cameron liquid natural gas export project came on line [Relation] enable [Effect] returns on invested capital to hover just above the firm's cost of capital",
    "valid": true
  },
  {
    "input": "We think BCE will be less vulnerable than Telus to Shaw's Freedom Mobile due to its lack of overlapping wireline footprint in western Canada.",
    "output": "[Cause] lack of overlapping wireline footprint in western Canada [Relation] prevent [Effect] BCE will be less vulnerable than Telus to Shaw's Freedom Mobile",
    "gold": "[Cause] lack of overlapping wireline footprint in western Canada [Relation] cause [Effect] BCE will be less vulnerable than Telus to Shaw's Freedom Mobile",
    "valid": true
  },
  {
    "input": "The most significant ESG risk the firm faces is human capital risk; that is, the risk that Ferguson is unable to adequately recruit, train, and retain the talent needed to sell its products and services and manage its supply chain, which could lead to lost market share.",
    "output": "[Cause] Ferguson is unable to adequately recruit, train, and retain the talent needed to sell its products and services and manage its supply chain [Relation] cause [Effect] could lead to lost market share",
    "gold": "[Cause] human capital risk [Relation] cause [Effect] lost market share",
    "valid": false
  },
  {
    "input": "KeyCite Overruling risk offers an even more valuable feature--flagging cases that have been subsequently overturned, helping to avoid one of the most damaging cases in the practice of law--that of citing bad precedents.",
    "output": "[Cause] KeyCite Overruling risk [Relation] enable [Effect] flagging cases that have been subsequently overturned",
    "gold": "[Cause] KeyCite Overruling risk offers an even more valuable feature--flagging cases [Relation] enable [Effect] have been subsequently overturned, helping to avoid one of the most damaging cases in the practice of law--that of citing bad precedents",
    "valid": false
  },
  {
    "input": "We believe Deutsche enjoys good client relationships in this segment and can offer a wide product portfolio tailored for corporate Treasuries, although we do not think this constitutes a defensible, structural competitive advantage.",
    "output": "[Cause] Deutsche enjoys good client relationships in this segment and can offer a wide product portfolio tailored for corporate Treasuries [Relation] cause [Effect] this does not constitute a defensible, structural competitive advantage",
    "gold": "[Cause] Deutsche enjoys good client relationships in this segment [Relation] cause [Effect] offer a wide product portfolio tailored for corporate Treasuries",
    "valid": false
  },
  {
    "input": "While the fast growth of natural and organic products creates potential for Hain to elevate its standing with retailers, we believe its current market positions are too small for the company to be considered a strategically important partner at present.",
    "output": "[Cause] its current market positions are too small [Relation] prevent [Effect] Hain is not considered a strategically important partner at present",
    "gold": "[Cause] the fast growth of natural and organic products [Relation] enable [Effect] creates potential for Hain to elevate its standing with retailers",
    "valid": false
  },
  {
    "input": "If depressed power prices weren't enough to deal with, management also has to navigate new carbon emission legislation that will phase out all coal-fired power plants in Alberta.",
    "output": "[Cause] new carbon emission legislation that will phase out all coal-fired power plants in Alberta [Relation] cause [Effect] management has to navigate",
    "gold": "[Cause]  [Relation] cause [Effect] depressed power prices weren't enough to deal with| management also has to navigate new carbon emission legislation",
    "valid": false
  },
  {
    "input": "If depressed power prices weren't enough to deal with, management also has to navigate new carbon emission legislation that will phase out all coal-fired power plants in Alberta.",
    "output": "[Cause] new carbon emission legislation that will phase out all coal-fired power plants in Alberta [Relation] cause [Effect] management has to navigate",
    "gold": "[Cause] navigate new carbon emission legislation [Relation] cause [Effect] will phase out all coal-fired power plants in Alberta",
    "valid": false
  },
  {
    "input": "Its acquisition of SanDisk sets it up better than competitor Seagate, which has no NAND manufacturing capability, but compared to the duopoly in HDD leadership, flash is a fragmented market.",
    "output": "[Cause] Its acquisition of SanDisk sets it up better than competitor Seagate, which has no NAND manufacturing capability [Relation] enable [Effect] compared to the duopoly in HDD leadership, flash is a fragmented market",
    "gold": "[Cause] has no NAND manufacturing capability [Relation] cause [Effect] Its acquisition of SanDisk sets it up better than competitor Seagate",
    "valid": false
  },
  {
    "input": "Given its engineering teams already know the ins and outs of the products (and may even be located on-site), Amphenol is better suited to codevelop new technologies or accommodate modifications, adding greater value than a potential replacement.",
    "output": "[Cause] its engineering teams already know the ins and outs of the products (and may even be located on-site) [Relation] enable [Effect] Amphenol is better suited to codevelop new technologies or accommodate modifications, adding greater value than a potential replacement",
    "gold": "[Cause] Given its engineering teams already know the ins and outs of the products [Relation] cause [Effect] Amphenol is better suited to codevelop new technologies or accommodate modifications, adding greater value than a potential replacement",
    "valid": false
  },
  {
    "input": "We think working with cheaper tools can cause headaches for technicians, given the higher risk of breaks and the additional money needed to replace broken tools.",
    "output": "[Cause] working with cheaper tools [Relation] cause [Effect] higher risk of breaks and the additional money needed to replace broken tools",
    "gold": "[Cause] the higher risk of breaks and the additional money needed to replace broken tools [Relation] enable [Effect] working with cheaper tools can cause headaches for technicians",
    "valid": false
  },
  {
    "input": "We think working with cheaper tools can cause headaches for technicians, given the higher risk of breaks and the additional money needed to replace broken tools.",
    "output": "[Cause] working with cheaper tools [Relation] cause [Effect] higher risk of breaks and the additional money needed to replace broken tools",
    "gold": "[Cause] working with cheaper tools [Relation] cause [Effect] headaches for technicians",
    "valid": false
  },
  {
    "input": "Facebook has increased users and user engagement by providing additional features and apps to keep them engaged within the Facebook ecosystem.",
    "output": "[Cause] providing additional features and apps to keep users engaged within the Facebook ecosystem [Relation] enable [Effect] increased users and user engagement",
    "gold": "[Cause] providing additional features and apps [Relation] enable [Effect] keep them engaged within the Facebook ecosystem",
    "valid": false
  },
  {
    "input": "On the Service Desk side, however, Jira shines, as this solution is inexpensive compared with other leading peers, including ServiceNow, BMC (Remedy), and HP Enterprise.",
    "output": "[Cause] Jira is inexpensive compared with other leading peers, including ServiceNow, BMC (Remedy), and HP Enterprise. [Relation] cause [Effect] Jira shines on the Service Desk side",
    "gold": "[Cause] this solution is inexpensive compared with other leading peers [Relation] cause [Effect] Jira shines",
    "valid": false
  },
  {
    "input": "While progress of smartphone cameras and the diffusion of high-end mirrorless interchangeable lens cameras is a threat to the business, we believe the combination of a DSLR camera and lenses produces the best-quality pictures, and thus solid demand for DSLRs will remain.",
    "output": "[Cause] progress of smartphone cameras and the diffusion of high-end mirrorless interchangeable lens cameras [Relation] cause [Effect] threat to the business",
    "gold": "[Cause] the combination of a DSLR camera and lenses produces the best-quality pictures [Relation] enable [Effect] solid demand for DSLRs will remain",
    "valid": false
  },
  {
    "input": "We also believe Accenture benefits from high customer switching costs as its key customers are loath to switch service providers for large or ongoing contracts.",
    "output": "[Cause] Accenture benefits from high customer switching costs [Relation] cause [Effect] key customers are loath to switch service providers for large or ongoing contracts",
    "gold": "[Cause] its key customers are loath to switch service providers for large or ongoing contracts [Relation] cause [Effect] Accenture benefits from high customer switching costs",
    "valid": false
  },
  {
    "input": "Android may also benefit from switching costs, as apps purchased on Google Play would have to be replicated on iOS, but we also do not see such costs as overwhelming.",
    "output": "[Cause] apps purchased on Google Play would have to be replicated on iOS [Relation] cause [Effect] Android may also benefit from switching costs",
    "gold": "[Cause] apps purchased on Google Play would have to be replicated on iOS [Relation] cause [Effect] Android may also benefit from switching costs",
    "valid": true
  },
  {
    "input": "However, massive share erosion has occurred in 2020, as a result of factory shutdowns and dealer closures (due to COVID-19) as well as the push back of product launches until Spring 2021.",
    "output": "[Cause] factory shutdowns and dealer closures (due to COVID-19) as well as the push back of product launches until Spring 2021 [Relation] cause [Effect] massive share erosion has occurred in 2020",
    "gold": "[Cause] factory shutdowns and dealer closures (due to COVID-19) as well as the push back of product launches until Spring 2021 [Relation] cause [Effect] massive share erosion has occurred in 2020",
    "valid": true
  },
  {
    "input": "The extensive bottling and distribution network yields symbiotic benefits to the firm's market share, as innovative products can be scaled broadly, helping to maintain consumer awareness of its brands.",
    "output": "[Cause] The extensive bottling and distribution network [Relation] enable [Effect] symbiotic benefits to the firm's market share",
    "gold": "[Cause] innovative products can be scaled broadly [Relation] enable [Effect] maintain consumer awareness of its brands",
    "valid": false
  },
  {
    "input": "Packaged-goods manufacturers have taken advantage of the recently benign commodity cost environment to lower prices in some markets, a strategy designed to help mitigate the loss of middle-market retailers to both discounters and high-end stores, but it has weighed on most manufacturers' organic growth.",
    "output": "[Cause] taking advantage of the recently benign commodity cost environment to lower prices in some markets [Relation] enable [Effect] help mitigate the loss of middle-market retailers to both discounters and high-end stores",
    "gold": "[Cause] Packaged-goods manufacturers have taken advantage of the recently benign commodity cost environment to lower prices in some markets [Relation] enable [Effect] mitigate the loss of middle-market retailers to both discounters and high-end stores",
    "valid": false
  },
  {
    "input": "PSEG's nuclear fleet benefits from New Jersey subsidies that ensure stable margins as the state moves toward its 100% renewable energy goal by 2050.",
    "output": "[Cause] New Jersey subsidies that ensure stable margins [Relation] enable [Effect] PSEG's nuclear fleet benefits",
    "gold": "[Cause] New Jersey subsidies [Relation] enable [Effect] stable margins",
    "valid": false
  },
  {
    "input": "In terms of switching costs, commercial banks have the advantage of being able to sell their clients a comprehensive suite of products, reducing sensitivity to interest paid on deposits as clients prefer the ease of maintaining all accounts in the same place.",
    "output": "[Cause] commercial banks being able to sell their clients a comprehensive suite of products [Relation] enable [Effect] reducing sensitivity to interest paid on deposits as clients prefer the ease of maintaining all accounts in the same place",
    "gold": "[Cause] clients prefer the ease of maintaining all accounts in the same place [Relation] cause [Effect] commercial banks have the advantage of being able to sell their clients a comprehensive suite of products, reducing sensitivity to interest paid on deposits",
    "valid": false
  },
  {
    "input": "Coty is also lagging peers regarding its e-commerce efforts, as a high-teens percent of Coty's revenue is captured online, compared with 22% for Estee Lauder and 16% for L'Oreal.",
    "output": "[Cause] Coty's e-commerce efforts lagging peers [Relation] lagging [Effect] a high-teens percent of Coty's revenue is captured online compared to Estee Lauder and L'Oreal",
    "gold": "[Cause] a high-teens percent of Coty's revenue is captured online, compared with 22% for Estee Lauder and 16% for L'Oreal [Relation] cause [Effect] Coty is also lagging peers regarding its e-commerce efforts",
    "valid": false
  },
  {
    "input": "In France, for example, tax credits have been put in place to lower employer payroll expenses to improve competitiveness, and we assume employers will continue to outsource recruiting to global staffers such as Manpower.",
    "output": "[Cause] tax credits have been put in place to lower employer payroll expenses to improve competitiveness [Relation] enable [Effect] employers will continue to outsource recruiting to global staffers such as Manpower",
    "gold": "[Cause] tax credits have been put in place to lower employer payroll expenses [Relation] cause [Effect] improve competitiveness",
    "valid": false
  },
  {
    "input": "Imax lowered the conversion time for a film from 16 weeks to one week, allowing Imax DMR to be released at the same time as standard films in multiple markets.",
    "output": "[Cause] Imax lowered the conversion time for a film from 16 weeks to one week [Relation] enable [Effect] Imax DMR can be released at the same time as standard films in multiple markets",
    "gold": "[Cause] Imax lowered the conversion time for a film from 16 weeks to one week [Relation] cause [Effect] allowing Imax DMR to be released at the same time as standard films in multiple markets",
    "valid": false
  },
  {
    "input": "We believe there are several other ways that Tim Hortons can leverage its brand to drive greater unit-level productivity at its Canada locations, many of which are analogous to improvements in the Burger King system. These include expanded daypart penetration outside the breakfast and coffee categories, product innovations, a wider selection of take-home coffee products (including additional single-serve products), reimaging efforts, and increased use of technology as a customer acquisition and throughput tool.",
    "output": "[Cause] Tim Hortons leveraging its brand to drive greater unit-level productivity at its Canada locations [Relation] enable [Effect] expanded daypart penetration outside the breakfast and coffee categories, product innovations, a wider selection of take-home coffee products, reimaging efforts, increased use of technology as a customer acquisition and throughput tool",
    "gold": "[Cause] These include expanded daypart penetration outside the breakfast and coffee categories, product innovations, a wider selection of take-home coffee products (including additional single-serve products), reimaging efforts, and increased use of technology as a customer acquisition and throughput tool [Relation] enable [Effect] We believe there are several other ways that Tim Hortons can leverage its brand to drive greater unit-level productivity at its Canada locations, many of which are analogous to improvements in the Burger King system",
    "valid": false
  },
  {
    "input": "In addition, CME's position within S&P futures likely contributed to the exchange's ability to attract additional equity index futures license agreements for the Nasdaq and Russell 2000 indexes, which returned to CME Group in 2017.",
    "output": "[Cause] CME's position within S&P futures [Relation] enable [Effect] contributed to the exchange's ability to attract additional equity index futures license agreements for the Nasdaq and Russell 2000 indexes",
    "gold": "[Cause] CME's position within S&P futures [Relation] enable [Effect] contributed to the exchange's ability to attract additional equity index futures license agreements for the Nasdaq and Russell 2000 indexes",
    "valid": true
  },
  {
    "input": "Additionally, boats are big-ticket items, and a slowdown in the global economy could hamper replacement and adoption rates for these recreational products.",
    "output": "[Cause] slowdown in the global economy [Relation] cause [Effect] hamper replacement and adoption rates for recreational products (boats)",
    "gold": "[Cause] a slowdown in the global economy [Relation] prevent [Effect] replacement and adoption rates for these recreational products",
    "valid": false
  },
  {
    "input": "The low value/weight characteristics of construction materials demand local production, which creates regional markets and limited benefits from multinational M&A.",
    "output": "[Cause] The low value/weight characteristics of construction materials demand local production [Relation] cause [Effect] creates regional markets and limited benefits from multinational M&A",
    "gold": "[Cause] The low value/weight characteristics of construction materials demand local production [Relation] enable [Effect] creates regional markets and limited benefits from multinational M&A",
    "valid": true
  },
  {
    "input": "Sophisticated IT systems and market know-how enable customers to outsource intermodal shipping to an expert specialist, while Hub's large volume of loads and significant control of containers make it an attractive customer to the Class I railroads.",
    "output": "[Cause] Sophisticated IT systems and market know-how [Relation] enable [Effect] enable customers to outsource intermodal shipping to an expert specialist",
    "gold": "[Cause] Hub's large volume of loads and significant control of containers [Relation] enable [Effect] an attractive customer to the Class I railroads",
    "valid": false
  },
  {
    "input": "Second, there are many large private-label categories (like small-format water) where Treehouse has no presence. Consequently, one could argue that the total private-label food and beverage industry is not representative of the company's true addressable market.",
    "output": "[Cause] Treehouse has no presence in many large private-label categories [Relation] cause [Effect] the total private-label food and beverage industry is not representative of the company's true addressable market",
    "gold": "[Cause] there are many large private-label categories (like small-format water) where Treehouse has no presence [Relation] cause [Effect] one could argue that the total private-label food and beverage industry is not representative of the company's true addressable market",
    "valid": false
  },
  {
    "input": "We believe that the recent regulations will continue to marginalize smaller players, which may continue to benefit large players such as TAL and EDU.",
    "output": "[Cause] recent regulations [Relation] cause [Effect] continue to marginalize smaller players",
    "gold": "[Cause] the recent regulations will continue to marginalize smaller players [Relation] enable [Effect] benefit large players such as TAL and EDU",
    "valid": false
  },
  {
    "input": "In the next 10 years, we expect operating margins to increase from 2020's 17.3% to 18.2%, driven by improvements in the international segments.",
    "output": "[Cause] improvements in the international segments [Relation] cause [Effect] operating margins to increase from 2020's 17.3% to 18.2%",
    "gold": "[Cause] improvements in the international segments [Relation] enable [Effect] operating margins to increase from 2020's 17.3% to 18.2%",
    "valid": true
  },
  {
    "input": "Starbucks' position as a premium vendor of coffee, tea, and refresher beverages is widely recognized, as it has historically managed its positioning to avoid finding itself caught between discount competitors like Dunkin' and McDonald's McCaf\u8305 platform on the low end and specialty independent shops on the high end.",
    "output": "[Cause] Starbucks has historically managed its positioning [Relation] prevent [Effect] avoid finding itself caught between discount competitors like Dunkin' and McDonald's McCaf\u00e9 platform on the low end and specialty independent shops on the high end",
    "gold": "[Cause] it has historically managed its positioning to avoid finding itself caught between discount competitors like Dunkin' and McDonald's McCaf\u8305 platform on the low end and specialty independent shops on the high end [Relation] cause [Effect] Starbucks' position as a premium vendor of coffee, tea, and refresher beverages is widely recognized",
    "valid": false
  },
  {
    "input": "These strengths have helped Home Depot deliver adjusted average returns on invested capital, excluding goodwill, of 37% during the past five years, benefiting from operational excellence at its core namesake business.",
    "output": "[Cause] operational excellence at its core namesake business [Relation] enable [Effect] Home Depot deliver adjusted average returns on invested capital, excluding goodwill, of 37% during the past five years",
    "gold": "[Cause] operational excellence at its core namesake business [Relation] cause [Effect] These strengths have helped Home Depot deliver adjusted average returns on invested capital, excluding goodwil",
    "valid": false
  },
  {
    "input": "However, in 2012 the Federal government began to make cuts to Medicare and Medicaid reimbursement increases, reducing revenue growth and reducing profits to an even greater degree due to the thin margins for the industry.",
    "output": "[Cause] the Federal government began to make cuts to Medicare and Medicaid reimbursement increases [Relation] cause [Effect] reducing revenue growth and reducing profits to an even greater degree",
    "gold": "[Cause] the thin margins for the industry [Relation] enable [Effect] in 2012 the Federal government began to make cuts to Medicare and Medicaid reimbursement increases, reducing revenue growth and reducing profits to an even greater degree",
    "valid": false
  },
  {
    "input": "Because of the third-party broker arrangement, there is little opportunity for Vornado to directly influence a leasing decision, and leasing terms tend to be specified to meet client needs and reflect current market rates coordinated through the brokers.",
    "output": "[Cause] the third-party broker arrangement [Relation] cause [Effect] little opportunity for Vornado to directly influence a leasing decision, leasing terms tend to be specified to meet client needs and reflect current market rates coordinated through the brokers",
    "gold": "[Cause] the third-party broker arrangement [Relation] cause [Effect] there is little opportunity for Vornado to directly influence a leasing decision, and leasing terms tend to be specified to meet client needs and reflect current market rates coordinated through the brokers",
    "valid": false
  },
  {
    "input": "Due to decreasing reliance on its personnel base, we assume Accenture will benefit from some operating leverage on the SG&A line, aiding in operating margin expansion from 14.7% in fiscal 2020 to 15.9% in fiscal 2025.",
    "output": "[Cause] decreasing reliance on its personnel base [Relation] enable [Effect] Accenture will benefit from some operating leverage on the SG&A line, aiding in operating margin expansion",
    "gold": "[Cause] Accenture will benefit from some operating leverage on the SG&A line [Relation] enable [Effect] operating margin expansion from 14.7% in fiscal 2020 to 15.9% in fiscal 2025",
    "valid": false
  },
  {
    "input": "But even this modest impact overstates the economic reality, as much of the decline in growth is expected to come from a fall-off in deconversion fees, given that M&A activity among banks has declined significantly due to the uncertainty created by COVID-19.",
    "output": "[Cause] the uncertainty created by COVID-19 [Relation] cause [Effect] decline in M&A activity among banks",
    "gold": "[Cause] the uncertainty created by COVID-19. [Relation] cause [Effect] M&A activity among banks has declined significantly",
    "valid": false
  },
  {
    "input": "As we expect Vontier to follow the Danaher and Fortive business model and continue to drive growth through M&A, another threat to our thesis is acquisition risk as the company could overpay for acquisitions and experience challenges integrating acquired companies.",
    "output": "[Cause] Vontier following the Danaher and Fortive business model and continue to drive growth through M&A [Relation] cause [Effect] acquisition risk as the company could overpay for acquisitions and experience challenges integrating acquired companies",
    "gold": "[Cause] we expect Vontier to follow the Danaher and Fortive business model and continue to drive growth through M&A [Relation] enable [Effect] another threat to our thesis is acquisition risk",
    "valid": false
  },
  {
    "input": "As we expect Vontier to follow the Danaher and Fortive business model and continue to drive growth through M&A, another threat to our thesis is acquisition risk as the company could overpay for acquisitions and experience challenges integrating acquired companies.",
    "output": "[Cause] the expectation for Vontier to follow the Danaher and Fortive business model and continue to drive growth through M&A [Relation] cause [Effect] acquisition risk as the company could overpay for acquisitions and experience challenges integrating acquired companies",
    "gold": "[Cause] the company could overpay for acquisitions and experience challenges integrating acquired companies [Relation] cause [Effect] another threat to our thesis is acquisition risk",
    "valid": false
  },
  {
    "input": "Some of the most vulnerable areas of risk would include the high quality standards that labs must follow to ensure results are accurate and valid, as well as the possibility of getting caught up in Medicare fraud through incorrect or overbilling.",
    "output": "[Cause] the high quality standards that labs must follow to ensure results are accurate and valid, as well as the possibility of getting caught up in Medicare fraud through incorrect or overbilling [Relation] cause [Effect] the most vulnerable areas of risk",
    "gold": "[Cause] Some of the most vulnerable areas of risk would include the high quality standards that labs must follow to| as well as the possibility of getting caught up in Medicare fraud through incorrect or overbilling [Relation] enable [Effect] ensure results are accurate and valid",
    "valid": false
  },
  {
    "input": "While the barriers to entry are not significant for the industry, the barriers to success are extremely high--as it takes time and skill to not only put together a long enough record of investment performance to start gathering assets but to build the scale necessary to be competitive.",
    "output": "[Cause] barriers to entry are not significant for the industry [Relation] cause [Effect] barriers to success are extremely high",
    "gold": "[Cause] it takes time and skill to not only put together a long enough record of investment performance to start gathering assets but to build the scale necessary to be competitive [Relation] cause [Effect] the barriers to success are extremely high",
    "valid": false
  },
  {
    "input": "In the near term, claims losses associated with the coronavirus will pressure underwriting profitability, but we expect better pricing to allow for some improvement in underwriting results over time, and lower investment yields will necessitate better underwriting margins.",
    "output": "[Cause] claims losses associated with the coronavirus [Relation] cause [Effect] pressure underwriting profitability",
    "gold": "[Cause] better pricing [Relation] cause [Effect] improvement in underwriting results over time",
    "valid": false
  },
  {
    "input": "Pentair derives roughly two thirds of its revenue from aftermarket service and replacement parts, which are largely tied to its large installed base.",
    "output": "[Cause] Pentair's large installed base [Relation] enable [Effect] Pentair derives roughly two thirds of its revenue from aftermarket service and replacement parts",
    "gold": "[Cause] its large installed base [Relation] cause [Effect] Pentair derives roughly two thirds of its revenue from aftermarket service and replacement parts",
    "valid": false
  },
  {
    "input": "In the mobile payment segment, as Weixin's user base expands, more users will adopt Weixin Pay, which is embedded in Weixin, and in turn, more merchants will accept Weixin Pay.",
    "output": "[Cause] Weixin's user base expands [Relation] enable [Effect] more users will adopt Weixin Pay",
    "gold": "[Cause] Weixin's user base expands [Relation] cause [Effect] more users will adopt Weixin Pay",
    "valid": true
  },
  {
    "input": "We project that the firm will able to continue to expand its gross margins to 76.7% by fiscal 2025 as the percentage of revenue from microtransactions and digital downloads continues to increase.",
    "output": "[Cause] the percentage of revenue from microtransactions and digital downloads continues to increase [Relation] cause [Effect] the firm will be able to continue to expand its gross margins to 76.7% by fiscal 2025",
    "gold": "[Cause] the percentage of revenue from microtransactions and digital downloads continues to increase [Relation] cause [Effect] project that the firm will able to continue to expand its gross margins to 76.7%",
    "valid": false
  },
  {
    "input": "IQVIA easily belongs in the top tier of large, global CROs with the infrastructure to win these contracts, and its size means it works on more clinical trials than any competitor, further sharpening its clinical and regulatory expertise and network of clients.",
    "output": "[Cause] its size means it works on more clinical trials than any competitor [Relation] enable [Effect] further sharpening its clinical and regulatory expertise and network of clients",
    "gold": "[Cause] IQVIA easily belongs in the top tier of large, global CROs with the infrastructure to win these contracts [Relation] cause [Effect] further sharpening its clinical and regulatory expertise and network of clients",
    "valid": false
  },
  {
    "input": "With our outlook for sales growth dim, we think enhancing profitability is Lumen's best path to improved financial performance.",
    "output": "[Cause] outlook for sales growth dim [Relation] cause [Effect] enhancing profitability is Lumen's best path to improved financial performance",
    "gold": "[Cause] outlook for sales growth dim [Relation] cause [Effect] enhancing profitability is Lumen's best path to improved financial performance",
    "valid": true
  },
  {
    "input": "We believe operating margin will reach 16.3% in 2023 as it captures more high margin services revenue before declining to a midcycle level of over 15.4% in 2025.",
    "output": "[Cause] capturing more high margin services revenue [Relation] enable [Effect] operating margin will reach 16.3% in 2023",
    "gold": "[Cause] it captures more high margin services revenue before declining to a midcycle level of over 15.4% in 2025 [Relation] cause [Effect] We believe operating margin will reach 16.3% in 2023",
    "valid": false
  },
  {
    "input": "A focus on debt repayment post the 2015-16 downturn, and current stronger commodity prices and earnings, see BHP in strong financial shape.",
    "output": "[Cause] A focus on debt repayment post the 2015-16 downturn, and current stronger commodity prices and earnings [Relation] enable [Effect] BHP in strong financial shape",
    "gold": "[Cause] A focus on debt repayment post the 2015-16 downturn, and current stronger commodity prices and earnings [Relation] enable [Effect] BHP in strong financial shape",
    "valid": true
  },
  {
    "input": "The top lens manufacturers mandate that retailers sell their product above the same minimum price, which leads to almost all retailers setting their respective prices at this price floor, though most manufacturers offer volume-based rebates to optometrists to foster clinician brand loyalty.",
    "output": "[Cause] The top lens manufacturers mandate that retailers sell their product above the same minimum price [Relation] enable [Effect] almost all retailers setting their respective prices at this price floor",
    "gold": "[Cause] most manufacturers offer volume-based rebates to optometrists [Relation] enable [Effect] foster clinician brand loyalty",
    "valid": false
  },
  {
    "input": "The top lens manufacturers mandate that retailers sell their product above the same minimum price, which leads to almost all retailers setting their respective prices at this price floor, though most manufacturers offer volume-based rebates to optometrists to foster clinician brand loyalty.",
    "output": "[Cause] The top lens manufacturers mandate that retailers sell their product above the same minimum price [Relation] cause [Effect] almost all retailers setting their respective prices at this price floor",
    "gold": "[Cause] The top lens manufacturers mandate that retailers sell their product above the same minimum price [Relation] cause [Effect] almost all retailers setting their respective prices at this price floor",
    "valid": true
  },
  {
    "input": "That said, were Buffett to focus on buying more asset-light companies with fewer capital investment needs, it would have left his successors with even greater amounts of cash to have to reinvest annually in the longer term.",
    "output": "[Cause] Buffett focusing on buying more asset-light companies with fewer capital investment needs [Relation] cause [Effect] Buffett's successors would have even greater amounts of cash to reinvest annually in the longer term",
    "gold": "[Cause] Buffett to focus on buying more asset-light companies with fewer capital investment needs [Relation] cause [Effect] it would have left his successors with even greater amounts of cash to have to reinvest annually in the longer term",
    "valid": false
  },
  {
    "input": "Moreover, we do not see a sufficiently discernible cost advantage that would expand the avenues through which Monster could reinforce its competitive positioning and give us more confidence in the sustainability of its economic rents.",
    "output": "[Cause] not see a sufficiently discernible cost advantage [Relation] prevent [Effect] not expand the avenues through which Monster could reinforce its competitive positioning and give more confidence in the sustainability of its economic rents",
    "gold": "[Cause] a sufficiently discernible cost advantage [Relation] cause [Effect] Monster could reinforce its competitive positioning and give us more confidence in the sustainability of its economic rents",
    "valid": false
  },
  {
    "input": "We had long viewed legacy Ingersoll Rand's climate business as more attractive than its industrial segment because the former has generally been more profitable and less cyclical.",
    "output": "[Cause] legacy Ingersoll Rand's climate business has generally been more profitable and less cyclical [Relation] cause [Effect] viewed as more attractive than its industrial segment",
    "gold": "[Cause] the former has generally been more profitable and less cyclical [Relation] cause [Effect] We had long viewed legacy Ingersoll Rand's climate business as more attractive than its industrial segment",
    "valid": false
  },
  {
    "input": "In 2019, pricing in primary lines also started to improve, and commentary from carriers suggests that this trend has only gained more momentum in 2020, as coronavirus-related claims appear to be acting as an additional prompt.",
    "output": "[Cause] coronavirus-related claims appear to be acting as an additional prompt [Relation] cause [Effect] pricing in primary lines started to improve",
    "gold": "[Cause] coronavirus-related claims appear to be acting as an additional prompt [Relation] enable [Effect] In 2019, pricing in primary lines also started to improve, and commentary from carriers suggests that this trend has only gained more momentum in 2020",
    "valid": false
  },
  {
    "input": "Excluding storm impacts, the Direct Energy acquisition doubles NRG's retail business, which has remained surprisingly strong throughout the coronavirus pandemic.",
    "output": "[Cause] the Direct Energy acquisition [Relation] enable [Effect] doubles NRG's retail business",
    "gold": "[Cause] the Direct Energy acquisition [Relation] cause [Effect] doubles NRG's retail business",
    "valid": true
  },
  {
    "input": "A bottler trying to increase prices 10% is a much more precarious proposition, given defensive retailers' razor-thin margins and the likelihood that this will result in a substantial price increase for the end consumer should the retailer not absorb the cost.",
    "output": "[Cause] A bottler trying to increase prices 10% [Relation] cause [Effect] a substantial price increase for the end consumer should the retailer not absorb the cost",
    "gold": "[Cause] defensive retailers' razor-thin margins and the likelihood [Relation] cause [Effect] a substantial price increase for the end consumer should the retailer not absorb the cost",
    "valid": false
  },
  {
    "input": "Our forecast implies market share gains due to the combined businesses of Icon and PRA and results in a five-year projected revenue compound annual growth rate of about 27%, including the impact of the PRA acquisition, which is expected to close in third-quarter 2021.",
    "output": "[Cause] market share gains due to the combined businesses of Icon and PRA [Relation] cause [Effect] five-year projected revenue compound annual growth rate of about 27%",
    "gold": "[Cause] the combined businesses of Icon and PRA and results in a five-year projected revenue compound annual growth rate [Relation] cause [Effect] implies market share gains",
    "valid": false
  },
  {
    "input": "Overall, staffing demand ebbs and flows with economic activity as employers reduce or add workers based on demand for their services and on business sentiment.",
    "output": "[Cause] economic activity [Relation] cause [Effect] staffing demand ebbs and flows",
    "gold": "[Cause] employers reduce or add workers based on demand for their services and on business sentiment [Relation] enable [Effect] staffing demand ebbs and flows with economic activity",
    "valid": false
  },
  {
    "input": "Over the long term, we believe mid-single-digit revenue growth, driven by GDP and pricing, is a reasonable expectation for MIS.",
    "output": "[Cause] driven by GDP and pricing [Relation] enable [Effect] mid-single-digit revenue growth",
    "gold": "[Cause] GDP and pricing, is a reasonable expectation for MIS [Relation] cause [Effect] mid-single-digit revenue growth",
    "valid": false
  },
  {
    "input": "RingCentral has reported that it is already operating above 30% non-GAAP operating margins in the small to midsize business market and that it believes it can achieve higher margins as it moves upmarket.",
    "output": "[Cause] operating above 30% non-GAAP operating margins in the small to midsize business market [Relation] enable [Effect] believes it can achieve higher margins as it moves upmarket",
    "gold": "[Cause] it moves upmarket [Relation] enable [Effect] it can achieve higher margins",
    "valid": false
  },
  {
    "input": "Instead of generating automated emails, the company now must automate purchases of banner and display ads on mobile apps and web pages. This pits Alliance Data Systems against the major ad agencies, which in many cases are already working with the company's biggest customers.",
    "output": "[Cause] the company must automate purchases of banner and display ads on mobile apps and web pages [Relation] cause [Effect] pits Alliance Data Systems against the major ad agencies",
    "gold": "[Cause] Instead of generating automated emails, the company now must automate purchases of banner and display ads on mobile apps and web pages [Relation] cause [Effect] pits Alliance Data Systems against the major ad agencies, which in many cases are already working with the company's biggest customers",
    "valid": false
  },
  {
    "input": "Under ingestion pricing, businesses were paying for the amount of data they were inputting into Splunk's products, while under workload-based pricing, they will be able to import as much data as they desire and pay for the computing capacity they use to analyze and monitor the data.",
    "output": "[Cause] transition from ingestion pricing to workload-based pricing [Relation] enable [Effect] businesses will be able to import as much data as they desire and pay for the computing capacity they use to analyze and monitor the data",
    "gold": "[Cause] ingestion pricing [Relation] cause [Effect] businesses were paying for the amount of data they were inputting into Splunk's products",
    "valid": false
  },
  {
    "input": "Under ingestion pricing, businesses were paying for the amount of data they were inputting into Splunk's products, while under workload-based pricing, they will be able to import as much data as they desire and pay for the computing capacity they use to analyze and monitor the data.",
    "output": "[Cause] under workload-based pricing, businesses will be able to import as much data as they desire [Relation] enable [Effect] businesses will pay for the computing capacity they use to analyze and monitor the data",
    "gold": "[Cause] workload-based pricing [Relation] cause [Effect] be able to import as much data as they desire and pay for the computing capacity they use to analyze and monitor the data",
    "valid": false
  },
  {
    "input": "Furthermore, while populous metropolitan areas are the centers of construction activity, new quarry permits are difficult to obtain as a result of not-in-my-backyard tendencies.",
    "output": "[Cause] not-in-my-backyard tendencies [Relation] prevent [Effect] new quarry permits are difficult to obtain",
    "gold": "[Cause] not-in-my-backyard tendencies [Relation] cause [Effect] new quarry permits are difficult to obtain",
    "valid": true
  },
  {
    "input": "As Uber benefits from its network effect, we think it gains access to valuable intangible assets in the form of user data, which we suspect helps the firm improve its services and increase its vehicles' capacity utilization.",
    "output": "[Cause] Uber benefits from its network effect [Relation] enable [Effect] gains access to valuable intangible assets in the form of user data",
    "gold": "[Cause] it gains access to valuable intangible assets in the form of user data [Relation] enable [Effect] the firm improve its services and increase its vehicles' capacity utilization",
    "valid": false
  },
  {
    "input": "The severity of the Great Recession spurred a decline in patient volume across most specialties in 2009-13, as consumers delayed seeking healthcare (especially for nonacute and nonsymptomatic conditions).",
    "output": "[Cause] the severity of the Great Recession [Relation] cause [Effect] decline in patient volume across most specialties in 2009-13, as consumers delayed seeking healthcare (especially for nonacute and nonsymptomatic conditions)",
    "gold": "[Cause] consumers delayed seeking healthcare (especially for nonacute and nonsymptomatic conditions) [Relation] cause [Effect] The severity of the Great Recession spurred a decline in patient volume across most specialties in 2009-13",
    "valid": false
  },
  {
    "input": "Based on the higher-than-average volatility of cash flows and Insulet's heavy reliance on one product, we rate the firm's uncertainty as high.",
    "output": "[Cause] higher-than-average volatility of cash flows and Insulet's heavy reliance on one product [Relation] cause [Effect] firm's uncertainty rated as high",
    "gold": "[Cause] the higher-than-average volatility of cash flows and Insulet's heavy reliance on one product [Relation] cause [Effect] we rate the firm's uncertainty as high",
    "valid": false
  },
  {
    "input": "We think oil and gas capital expenditures will increase, following the temporary demand shock in oil due to the COVID-19 pandemic.",
    "output": "[Cause] the temporary demand shock in oil due to the COVID-19 pandemic [Relation] cause [Effect] oil and gas capital expenditures will increase",
    "gold": "[Cause] the COVID-19 pandemic [Relation] cause [Effect] the temporary demand shock in oil",
    "valid": false
  },
  {
    "input": "We think oil and gas capital expenditures will increase, following the temporary demand shock in oil due to the COVID-19 pandemic.",
    "output": "[Cause] temporary demand shock in oil due to the COVID-19 pandemic [Relation] cause [Effect] oil and gas capital expenditures will increase",
    "gold": "[Cause] the temporary demand shock in oil [Relation] cause [Effect] oil and gas capital expenditures will increase",
    "valid": false
  },
  {
    "input": "The growth in wealth will increasingly come from emerging markets, where competition is less intense, and the safety and diversification offered by a Swiss private banking account present an attractive option for investors from volatile regions.",
    "output": "[Cause] competition is less intense in emerging markets [Relation] enable [Effect] growth in wealth will increasingly come from emerging markets",
    "gold": "[Cause] the safety and diversification offered by a Swiss private banking account [Relation] cause [Effect] an attractive option for investors from volatile regions",
    "valid": false
  },
  {
    "input": "Thanks to secular and technological trends driving increased connectivity, emissions, safety, and efficiency standards, demand for Littelfuse's products has been very strong over the five years.",
    "output": "[Cause] secular and technological trends driving increased connectivity, emissions, safety, and efficiency standards [Relation] cause [Effect] demand for Littelfuse's products has been very strong over the five years",
    "gold": "[Cause] secular and technological trends [Relation] enable [Effect] increased connectivity, emissions, safety, and efficiency standards",
    "valid": false
  },
  {
    "input": "Intel's cost advantage is manifested via large scale semiconductor fabrication facilities that cost $20 billion-plus and create significant barriers to entry.",
    "output": "[Cause] large scale semiconductor fabrication facilities that cost $20 billion-plus [Relation] enable [Effect] Intel's cost advantage is manifested",
    "gold": "[Cause] Intel's cost advantage [Relation] enable [Effect] create significant barriers to entry",
    "valid": false
  },
  {
    "input": "In the meantime, we expect the company to continue investing in emission-reducing solutions for its diesel trucks, providing customers a strong product to meet stringent emission standards.",
    "output": "[Cause] the company continues investing in emission-reducing solutions for its diesel trucks [Relation] enable [Effect] providing customers a strong product to meet stringent emission standards",
    "gold": "[Cause] the company to continue investing in emission-reducing solutions for its diesel trucks [Relation] cause [Effect] customers a strong product to meet stringent emission standards",
    "valid": false
  },
  {
    "input": "Its brand intangible asset has historically been the supporting factor in its top- and bottom-line growth, as its ability to drive repeat business relies on customer loyalty and smart marketing and merchandising.",
    "output": "[Cause] Its brand intangible asset [Relation] enable [Effect] supporting factor in its top- and bottom-line growth",
    "gold": "[Cause] its ability to drive repeat business relies on customer loyalty and smart marketing and merchandising [Relation] cause [Effect] Its brand intangible asset has historically been the supporting factor in its top- and bottom-line growth",
    "valid": false
  },
  {
    "input": "Our largest concern with the printing market is the overall trend of screen reading replacing printed pages, and we do not believe HP's initiatives can offset the macro trend.",
    "output": "[Cause] the overall trend of screen reading replacing printed pages [Relation] cause [Effect] Our largest concern with the printing market",
    "gold": "[Cause] we do not believe HP's initiatives can offset the macro trend [Relation] cause [Effect] Our largest concern with the printing market is the overall trend of screen reading replacing printed pages",
    "valid": false
  },
  {
    "input": "With consumer traffic growing from 16 million average monthly users in 2016 to over 36 million in 2019, we think it is clear the platform is gaining momentum.",
    "output": "[Cause] consumer traffic growing from 16 million average monthly users in 2016 to over 36 million in 2019 [Relation] cause [Effect] the platform is gaining momentum",
    "gold": "[Cause] consumer traffic growing from 16 million average monthly users in 2016 to over 36 million in 2019 [Relation] enable [Effect] the platform is gaining momentum",
    "valid": true
  },
  {
    "input": "In a similar vein, Discover has reduced its investment in its debt consolidation business as it believes the competition in that industry has become too intense for it to generate the kinds of returns it is accustomed to.",
    "output": "[Cause] the competition in the debt consolidation industry has become too intense for Discover [Relation] cause [Effect] Discover has reduced its investment in its debt consolidation business",
    "gold": "[Cause] it believes the competition in that industry has become too intense for it to generate the kinds of returns it is accustomed to [Relation] cause [Effect] Discover has reduced its investment in its debt consolidation business",
    "valid": false
  },
  {
    "input": "Bayer faces heightened market risks as it is launching several new drugs that hold strong potential if the market embraces the new treatments.",
    "output": "[Cause] Bayer is launching several new drugs [Relation] cause [Effect] Bayer faces heightened market risks",
    "gold": "[Cause] launching several new drugs [Relation] enable [Effect] hold strong potential if the market embraces the new treatments",
    "valid": false
  },
  {
    "input": "Finally, we view the likelihood of sustained economic value creation as quite high for the restaurant brand, which finds itself on the leading edge of most of the changes we expect to impact the restaurant industry over the medium to long term.",
    "output": "[Cause] finding itself on the leading edge of most of the changes we expect to impact the restaurant industry over the medium to long term [Relation] enable [Effect] likelihood of sustained economic value creation is quite high for the restaurant brand",
    "gold": "[Cause] the restaurant brand [Relation] enable [Effect] sustained economic value creation",
    "valid": false
  },
  {
    "input": "The spread of risk from government to contractor puts a cap on the margins that may be earned by the industry but limits cyclicality at the same time.",
    "output": "[Cause] The spread of risk from government to contractor [Relation] cause [Effect] puts a cap on the margins that may be earned by the industry",
    "gold": "[Cause] The spread of risk from government to contractor puts a cap on the margins [Relation] prevent [Effect] may be earned by the industry but limits cyclicality at the same time",
    "valid": false
  },
  {
    "input": "We forecast adjusted EBITDA margins (based on our calculations) to increase from 40% in 2020 to 44% by 2025 as SS&C continues to realize expense synergies.",
    "output": "[Cause] SS&C continues to realize expense synergies [Relation] enable [Effect] forecast adjusted EBITDA margins to increase from 40% in 2020 to 44% by 2025",
    "gold": "[Cause] SS&C continues to realize expense synergies [Relation] cause [Effect] We forecast adjusted EBITDA margins (based on our calculations) to increase from 40% in 2020 to 44% by 2025",
    "valid": false
  },
  {
    "input": "Also, we expect the streamlining of operations, cost-cutting and gains in high margin specialty drugs to offset falling Lantus pricing in the U.S., resulting in operating margin expansion over the next three years.",
    "output": "[Cause] streamlining of operations, cost-cutting, and gains in high margin specialty drugs [Relation] enable [Effect] offset falling Lantus pricing in the U.S.",
    "gold": "[Cause] the streamlining of operations, cost-cutting and gains in high margin specialty drugs [Relation] prevent [Effect] falling Lantus pricing in the U.S.",
    "valid": false
  },
  {
    "input": "Also, we expect the streamlining of operations, cost-cutting and gains in high margin specialty drugs to offset falling Lantus pricing in the U.S., resulting in operating margin expansion over the next three years.",
    "output": "[Cause] streamlining of operations, cost-cutting, and gains in high margin specialty drugs [Relation] enable [Effect] offset falling Lantus pricing in the U.S.",
    "gold": "[Cause] offset falling Lantus pricing in the U.S. [Relation] cause [Effect] operating margin expansion over the next three years",
    "valid": false
  },
  {
    "input": "The pipeline continues operating for now as legal challenges move through the courts, but even a temporary shutdown could lead to a significant drop in earnings and force management to re-evaluate the distribution.",
    "output": "[Cause] legal challenges move through the courts [Relation] enable [Effect] The pipeline continues operating for now",
    "gold": "[Cause] a temporary shutdown [Relation] enable [Effect] could lead to a significant drop in earnings and force management to re-evaluate the distribution",
    "valid": false
  },
  {
    "input": "A UPS, for example, performs mission-critical functions by allowing customers' employees to safely shut down or start an alternate power source on everything from computers to network closets and server rooms to enterprise and collocation data centers, potentially saving thousands of dollars in lost time and productivity.",
    "output": "[Cause] A UPS performs mission-critical functions by allowing customers' employees to safely shut down or start an alternate power source [Relation] enable [Effect] potentially saving thousands of dollars in lost time and productivity",
    "gold": "[Cause] A UPS, for example, performs mission-critical functions by allowing customers' employees to safely shut down or start an alternate power source on everything from computers to network closets and server rooms to enterprise and collocation data centers [Relation] enable [Effect] potentially saving thousands of dollars in lost time and productivity",
    "valid": false
  },
  {
    "input": "Even as legacy automakers begin to produce more EVs, we expect Tesla will continue to have a lower costs as the company has outlined a plan to further reduce battery cell costs by 56% over the next several years.",
    "output": "[Cause] Tesla's plan to further reduce battery cell costs by 56% over the next several years [Relation] enable [Effect] Tesla will continue to have lower costs",
    "gold": "[Cause] the company has outlined a plan to further reduce battery cell costs by 56% over the next several years [Relation] cause [Effect] Tesla will continue to have a lower costs",
    "valid": false
  },
  {
    "input": "The firm owns and operates fabrication yards in China and Mexico, and its fabrication and modular construction capabilities allow it to complete parts of large projects off-site and ship them in modules. This strategy gives Fluor flexibility and more control over costs when working in areas with scarce and expensive local labor.",
    "output": "[Cause] The firm owns and operates fabrication yards in China and Mexico, and its fabrication and modular construction capabilities [Relation] enable [Effect] allow it to complete parts of large projects off-site and ship them in modules",
    "gold": "[Cause] The firm owns and operates fabrication yards in China and Mexico, and its fabrication and modular construction capabilities allow it to complete parts of large projects off-site and ship them in modules [Relation] enable [Effect] gives Fluor flexibility and more control over costs when working in areas with scarce and expensive local labor",
    "valid": false
  },
  {
    "input": "These acquisitions hurt the firm's short-term return on invested capital, or ROIC, due to the high prices paid, but were strategically important.",
    "output": "[Cause] high prices paid for the acquisitions [Relation] cause [Effect] hurt the firm's short-term return on invested capital (ROIC)",
    "gold": "[Cause] the high prices paid [Relation] cause [Effect] These acquisitions hurt the firm's short-term return on invested capital, or ROIC",
    "valid": false
  },
  {
    "input": "As a result of this increased competition, along with the inconsistent performance of the company's games outside of ''''''''Grand theft Auto,'''''''' the company did not generate returns on invested capital exceeding its cost of capital in fiscal 2010, 2012, and 2013.",
    "output": "[Cause] increased competition, inconsistent performance of the company's games outside of \"Grand Theft Auto\" [Relation] cause [Effect] the company did not generate returns on invested capital exceeding its cost of capital in fiscal 2010, 2012, and 2013",
    "gold": "[Cause] this increased competition, along with the inconsistent performance of the company's games outside [Relation] cause [Effect] ''''''''Grand theft Auto,'''''''' the company did not generate returns on invested capital exceeding its cost of capital in fiscal 2010, 2012, and 2013",
    "valid": false
  },
  {
    "input": "While the company's Washington, D.C., facilities have struggled in recent years, the area is projected to be among the fastest-growing over the next few decades, which will bring more demand for self-storage to a market where Public Storage already enjoys a double-digit market share lead on its closest competitor.",
    "output": "[Cause] the area is projected to be among the fastest-growing over the next few decades [Relation] cause [Effect] more demand for self-storage",
    "gold": "[Cause] Public Storage already enjoys a double-digit market share lead on its closest competitor [Relation] cause [Effect] more demand for self-storage to a market",
    "valid": false
  },
  {
    "input": "Although we believe Five Below's emerging scale and targeted store experience should help offset some pressure, the crowded landscape will require management to maintain its high level of execution.",
    "output": "[Cause] the crowded landscape [Relation] cause [Effect] require management to maintain its high level of execution",
    "gold": "[Cause] the crowded landscape [Relation] cause [Effect] require management to maintain its high level of execution",
    "valid": true
  },
  {
    "input": "Although we believe Five Below's emerging scale and targeted store experience should help offset some pressure, the crowded landscape will require management to maintain its high level of execution.",
    "output": "[Cause] the crowded landscape [Relation] require [Effect] management to maintain its high level of execution",
    "gold": "[Cause] Five Below's emerging scale and targeted store experience [Relation] prevent [Effect] some pressure",
    "valid": false
  },
  {
    "input": "Charter also operates with a heavy debt load, which can cause its shares to respond sharply to changes in the business or general market volatility.",
    "output": "[Cause] Charter operates with a heavy debt load [Relation] cause [Effect] shares respond sharply to changes in the business or general market volatility",
    "gold": "[Cause] Charter also operates with a heavy debt load [Relation] cause [Effect] its shares to respond sharply to changes in the business or general market volatility",
    "valid": false
  },
  {
    "input": "We expect Activision to continue to benefit from the upcoming console upgrade cycle, the ongoing revitalization of PC gaming, and the growth in the mobile market via its King Digital subsidiary.",
    "output": "[Cause] the upcoming console upgrade cycle, the ongoing revitalization of PC gaming, and the growth in the mobile market via its King Digital subsidiary [Relation] enable [Effect] Activision to continue to benefit",
    "gold": "[Cause] the upcoming console upgrade cycle, the ongoing revitalization of PC gaming, and the growth in the mobile market via its King Digital subsidiary [Relation] enable [Effect] Activision to continue to benefit",
    "valid": true
  },
  {
    "input": "That said we're less concerned about normal ebbs and flows of the macro environment, given that Honeywell's business is split 60/40 between operating expenditure and capital expenditure cycles.",
    "output": "[Cause] Honeywell's business is split 60/40 between operating expenditure and capital expenditure cycles [Relation] enable [Effect] less concerned about normal ebbs and flows of the macro environment",
    "gold": "[Cause] Honeywell's business is split 60/40 between operating expenditure and capital expenditure cycles [Relation] cause [Effect] less concerned about normal ebbs and flows of the macro environment",
    "valid": true
  },
  {
    "input": "The current process of drafting a new constitution and its long-term implications on the Chilean economy are also sources of potential risk.",
    "output": "[Cause] the current process of drafting a new constitution [Relation] cause [Effect] sources of potential risk on the Chilean economy",
    "gold": "[Cause] its long-term implications on the Chilean economy [Relation] enable [Effect] potential risk",
    "valid": false
  },
  {
    "input": "We see emergency equipment as a nondiscretionary expense for governments and believe that technological disruption typically moves slowly in the public sector because of the potentially high cost of failure.",
    "output": "[Cause] emergency equipment seen as a nondiscretionary expense for governments [Relation] cause [Effect] technological disruption typically moves slowly in the public sector",
    "gold": "[Cause] the potentially high cost of failure [Relation] cause [Effect] technological disruption typically moves slowly in the public sector",
    "valid": false
  },
  {
    "input": "We expect revenue growth and more-efficient homebuilding operations will unlock operating leverage, reducing selling, general, and administrative expenses as percentage of revenue.",
    "output": "[Cause] revenue growth and more-efficient homebuilding operations [Relation] enable [Effect] unlock operating leverage, reducing selling, general, and administrative expenses as a percentage of revenue",
    "gold": "[Cause] revenue growth and more-efficient homebuilding operations [Relation] enable [Effect] unlock operating leverage, reducing selling, general, and administrative expenses as percentage of revenue",
    "valid": false
  },
  {
    "input": "Carrier primarily used acquisitions to build its commercial and industrial fire and security business, which now accounts for approximately 25% of consolidated sales.",
    "output": "[Cause] Carrier primarily used acquisitions to build its commercial and industrial fire and security business [Relation] cause [Effect] now accounts for approximately 25% of consolidated sales",
    "gold": "[Cause] acquisitions [Relation] enable [Effect] build its commercial and industrial fire and security business",
    "valid": false
  },
  {
    "input": "Many of these stores are suffering reduced customer traffic due to competition, a situation that may be worsened by the coronavirus.",
    "output": "[Cause] competition [Relation] cause [Effect] Many of these stores are suffering reduced customer traffic",
    "gold": "[Cause] competition| coronavirus [Relation] cause [Effect] Many of these stores are suffering reduced customer traffic",
    "valid": true
  },
  {
    "input": "Further, with the bank's solid mix of fee income, Wells Fargo will be better insulated if rates decline when compared with smaller regional competitors, as it is less dependent on rate-sensitive net interest income.",
    "output": "[Cause] Wells Fargo's solid mix of fee income [Relation] enable [Effect] Wells Fargo will be better insulated if rates decline when compared with smaller regional competitors",
    "gold": "[Cause] the bank's solid mix of fee income [Relation] enable [Effect] Wells Fargo will be better insulated if rates decline when compared with smaller regional competitors",
    "valid": false
  },
  {
    "input": "Further, with the bank's solid mix of fee income, Wells Fargo will be better insulated if rates decline when compared with smaller regional competitors, as it is less dependent on rate-sensitive net interest income.",
    "output": "[Cause] Wells Fargo's solid mix of fee income, Wells Fargo will be better insulated if rates decline [Relation] protect [Effect] Wells Fargo is less dependent on rate-sensitive net interest income",
    "gold": "[Cause] it is less dependent on rate-sensitive net interest income [Relation] cause [Effect] Wells Fargo will be better insulated if rates decline when compared with smaller regional competitors",
    "valid": false
  },
  {
    "input": "With less command over its wholesalers' selling efforts, Boston Beer doesn't exercise as much clout as leading mainstream brewers (that operate in more concentrated categories) did in their heyday, for example, when volumes were ascendant and their products were more resonant.",
    "output": "[Cause] Boston Beer doesn't exercise as much clout as leading mainstream brewers [Relation] cause [Effect] volumes were ascendant and their products were more resonant",
    "gold": "[Cause] With less command over its wholesalers' selling efforts [Relation] cause [Effect] Boston Beer doesn't exercise as much clout as leading mainstream brewers (that operate in more concentrated categories) did in their heyday",
    "valid": false
  },
  {
    "input": "We applaud that SS&C has shown a willingness to get outbid if the valuation is too high as we believe it makes sense for management to be disciplined on valuation.",
    "output": "[Cause] management's willingness to get outbid if the valuation is too high [Relation] enable [Effect] it makes sense for management to be disciplined on valuation",
    "gold": "[Cause] management to be disciplined on valuation [Relation] enable [Effect] SS&C has shown a willingness to get outbid if the valuation is too high",
    "valid": false
  },
  {
    "input": "We are increasing our fair value estimate to $68 from $63 per share, increasing our forecasts for new equipment orders and dividend growth due to more room on the balance sheet for shareholder returns.",
    "output": "[Cause] more room on the balance sheet for shareholder returns [Relation] enable [Effect] increasing our forecasts for new equipment orders and dividend growth",
    "gold": "[Cause] more room on the balance sheet for shareholder returns [Relation] cause [Effect] increasing our forecasts for new equipment orders and dividend growth",
    "valid": true
  },
  {
    "input": "Finally, a greater shift by enterprises toward infrastructure as a service cloud adoption could reduce their own need for server space, as their data is shifted to cloud providers' servers and stored more efficiently.",
    "output": "[Cause] a greater shift by enterprises toward infrastructure as a service cloud adoption [Relation] cause [Effect] reduce their own need for server space",
    "gold": "[Cause] their data is shifted to cloud providers' servers and stored more efficiently [Relation] enable [Effect] reduce their own need for server space",
    "valid": false
  },
  {
    "input": "We note that price sensitive economies could drag down Ericsson's revenue and margin profile if the company cannot extract manufacturing and process efficiencies.",
    "output": "[Cause] price sensitive economies [Relation] if the company cannot extract manufacturing and process efficiencies [Effect] drag down Ericsson's revenue and margin profile",
    "gold": "[Cause] the company cannot extract manufacturing and process efficiencies [Relation] cause [Effect] drag down Ericsson's revenue and margin profile",
    "valid": false
  },
  {
    "input": "As for its mining equipment business, demand is driven by prices of commodities such as iron ore, coal, and copper, which affects the profitability of mining companies and in turn their capital expenditures, including spending on mining equipment.",
    "output": "[Cause] prices of commodities such as iron ore, coal, and copper [Relation] cause [Effect] affects the profitability of mining companies and in turn their capital expenditures, including spending on mining equipment",
    "gold": "[Cause] prices of commodities [Relation] cause [Effect] demand",
    "valid": false
  },
  {
    "input": "As for its mining equipment business, demand is driven by prices of commodities such as iron ore, coal, and copper, which affects the profitability of mining companies and in turn their capital expenditures, including spending on mining equipment.",
    "output": "[Cause] prices of commodities such as iron ore, coal, and copper [Relation] affect [Effect] affects the profitability of mining companies and in turn their capital expenditures, including spending on mining equipment",
    "gold": "[Cause] demand [Relation] cause [Effect] affects the profitability of mining companies",
    "valid": false
  },
  {
    "input": "As for its mining equipment business, demand is driven by prices of commodities such as iron ore, coal, and copper, which affects the profitability of mining companies and in turn their capital expenditures, including spending on mining equipment.",
    "output": "[Cause] prices of commodities such as iron ore, coal, and copper [Relation] affect [Effect] affects the profitability of mining companies and in turn their capital expenditures, including spending on mining equipment",
    "gold": "[Cause] affects the profitability of mining companies [Relation] cause [Effect] their capital expenditures",
    "valid": false
  },
  {
    "input": "We believe the firm's strength in the enterprise HDD business will buoy ASPs due to the increased portion of high capacity enterprise drives in the mix.",
    "output": "[Cause] the firm's strength in the enterprise HDD business [Relation] cause [Effect] buoy ASPs (average selling prices) due to the increased portion of high capacity enterprise drives in the mix",
    "gold": "[Cause] the increased portion of high capacity enterprise drives in the mix [Relation] cause [Effect] We believe the firm's strength in the enterprise HDD business will buoy ASPs",
    "valid": false
  },
  {
    "input": "Avery's RBIS segment could face margin pressures if other RFID manufacturers aim to take back market share from the company.",
    "output": "[Cause] other RFID manufacturers aim to take back market share from the company [Relation] cause [Effect] Avery's RBIS segment could face margin pressures",
    "gold": "[Cause] other RFID manufacturers aim to take back market share from the company [Relation] enable [Effect] Avery's RBIS segment could face margin pressures",
    "valid": true
  },
  {
    "input": "We believe that Synchrony's bargaining position with its partners has been diminished and that the firm will have to make concessions to retain its retail partners.",
    "output": "[Cause] Synchrony's bargaining position with its partners has been diminished [Relation] cause [Effect] the firm will have to make concessions to retain its retail partners",
    "gold": "[Cause] Synchrony's bargaining position with its partners has been diminished [Relation] cause [Effect] the firm will have to make concessions to retain its retail partners",
    "valid": true
  },
  {
    "input": "Given the ongoing demand for content, we believe content creation for cable networks is not a zero-sum game, as high-quality content will always find an outlet.",
    "output": "[Cause] ongoing demand for content [Relation] enable [Effect] high-quality content will always find an outlet",
    "gold": "[Cause] high-quality content will always find an outlet| the ongoing demand for content [Relation] cause [Effect] content creation for cable networks is not a zero-sum game",
    "valid": false
  },
  {
    "input": "Mosaic benefits from the vertical integration of its phosphate assets, as it mines its own phosphate rock, the key feedstock used to produce phosphate fertilizers.",
    "output": "[Cause] vertical integration of its phosphate assets [Relation] enable [Effect] Mosaic benefits from mining its own phosphate rock",
    "gold": "[Cause] its own phosphate rock [Relation] cause [Effect] Mosaic benefits from the vertical integration of its phosphate assets,",
    "valid": false
  },
  {
    "input": "If profits materially contract, Tenet may have trouble refinancing at reasonable interest rates or at all when its major debt obligations start coming due in 2023 and beyond, and that significant refinancing risk informs our extreme uncertainty rating.",
    "output": "[Cause] profits materially contract [Relation] cause [Effect] Tenet may have trouble refinancing at reasonable interest rates or at all when its major debt obligations start coming due in 2023 and beyond",
    "gold": "[Cause] profits materially contract [Relation] cause [Effect] Tenet may have trouble refinancing at reasonable interest rates or at all when its major debt obligations start coming due in 2023 and beyond",
    "valid": true
  },
  {
    "input": "For the core telehealth services, we believe the company is likely to retain its first-mover advantage and scale by penetrating members of existing customers in addition to adding members of new clients under new logos.",
    "output": "[Cause] retain its first-mover advantage and scale by penetrating members of existing customers [Relation] enable [Effect] adding members of new clients under new logos",
    "gold": "[Cause] For the core telehealth services [Relation] cause [Effect] penetrating members of existing customers in addition to adding members of new clients under new logos",
    "valid": false
  },
  {
    "input": "We view it to be unlikely for these companies to allocate large sums of capital into R&amp;D and upskilling its existing sales and service network, given the relatively small market size compared with their existing end markets.",
    "output": "[Cause] the relatively small market size compared with their existing end markets [Relation] prevent [Effect] unlikely for these companies to allocate large sums of capital into R&D and upskilling its existing sales and service network",
    "gold": "[Cause] small market size compared with their existing end markets [Relation] enable [Effect] it to be unlikely for these companies to allocate large sums of capital into R&amp;D and upskilling its existing sales and service network",
    "valid": false
  },
  {
    "input": "Community hospitals across the country continue to struggle to maintain enough volume as care migrates to less costly ambulatory settings.",
    "output": "[Cause] care migrates to less costly ambulatory settings [Relation] cause [Effect] Community hospitals across the country continue to struggle to maintain enough volume",
    "gold": "[Cause] care migrates to less costly ambulatory settings [Relation] cause [Effect] Community hospitals across the country continue to struggle to maintain enough volume",
    "valid": true
  },
  {
    "input": "A confluence of several issues--poor relative active investment performance, the growth of low-cost index-based products, and the expanding power of the retail-advised channel--has made it increasingly difficult for active asset managers to generate organic growth, leaving them more dependent on market gains to increase their assets under management.",
    "output": "[Cause] poor relative active investment performance, the growth of low-cost index-based products, and the expanding power of the retail-advised channel [Relation] cause [Effect] active asset managers finding it increasingly difficult to generate organic growth and becoming more dependent on market gains to increase their assets under management",
    "gold": "[Cause] increasingly difficult for active asset managers to generate organic growth [Relation] enable [Effect] more dependent on market gains to increase their assets under management",
    "valid": false
  },
  {
    "input": "Depending on the asset being traded, the benefit of having less market impact is often greater than any savings that could be achieved by using another exchange with lower explicit transaction costs, creating network effects for exchanges with existing liquidity.",
    "output": "[Cause] benefit of having less market impact [Relation] cause [Effect] greater than any savings that could be achieved by using another exchange with lower explicit transaction costs",
    "gold": "[Cause] the benefit of having less market impact is often greater than any savings that could be achieved by using another exchange with lower explicit transaction costs [Relation] cause [Effect] creating network effects for exchanges with existing liquidity",
    "valid": false
  },
  {
    "input": "In addition, some governments may simply forbid access to Facebook, which could result in lower user growth and user interaction.",
    "output": "[Cause] some governments may simply forbid access to Facebook [Relation] cause [Effect] lower user growth and user interaction",
    "gold": "[Cause] some governments may simply forbid access to Facebook [Relation] cause [Effect] lower user growth and user interaction",
    "valid": true
  },
  {
    "input": "Lastly, SAP, the largest supply chain software provider, has partnered with Descartes for years to help offer a neutral communication network and the widest possible network of trading partners to its suppliers.",
    "output": "[Cause] partnership between SAP and Descartes [Relation] enable [Effect] offer a neutral communication network and the widest possible network of trading partners to SAP's suppliers",
    "gold": "[Cause] SAP, the largest supply chain software provider [Relation] enable [Effect] help offer a neutral communication network and the widest possible network of trading partners to its suppliers",
    "valid": false
  },
  {
    "input": "Gildan's capital expenditures as a percent of revenue have averaged 7% per year since 2010 but are now trending downward as major projects have been completed.",
    "output": "[Cause] major projects have been completed [Relation] cause [Effect] Gildan's capital expenditures as a percent of revenue are now trending downward",
    "gold": "[Cause] now trending downward [Relation] cause [Effect] major projects have been completed",
    "valid": false
  },
  {
    "input": "Longer term, as smartphone demand recovers, we think Qorvo's adjusted operating margins will remain in the low- to mid-30% range, in line with management's target for 30% plus adjusted operating margins.",
    "output": "[Cause] smartphone demand recovers [Relation] enable [Effect] Qorvo's adjusted operating margins will remain in the low- to mid-30% range",
    "gold": "[Cause] smartphone demand recovers [Relation] cause [Effect] Qorvo's adjusted operating margins will remain in the low- to mid-30% range",
    "valid": true
  },
  {
    "input": "Vale faces currency risk, as most of its costs are denominated in Brazilian reais, while the bulk of its revenue and debt is denominated in U.S.",
    "output": "[Cause] most of its costs are denominated in Brazilian reais [Relation] cause [Effect] Vale faces currency risk",
    "gold": "[Cause] most of its costs are denominated in Brazilian reais [Relation] cause [Effect] Vale faces currency risk",
    "valid": true
  },
  {
    "input": "This method has increased efficiency and lowered reconditioning costs per vehicle, which in turn raises gross profit per vehicle sold.",
    "output": "[Cause] This method has increased efficiency and lowered reconditioning costs per vehicle [Relation] cause [Effect] raises gross profit per vehicle sold",
    "gold": "[Cause] This method [Relation] enable [Effect] increased efficiency and lowered reconditioning costs per vehicle",
    "valid": false
  },
  {
    "input": "We also expect that a large-scale move by manufacturers in favor of direct sales is unlikely, due to the infrastructure required, end customers' price inelasticity, and the convenience associated with repair shops ordering parts made by multiple brands from one source.",
    "output": "[Cause] the infrastructure required, end customers' price inelasticity, and the convenience associated with repair shops ordering parts made by multiple brands from one source [Relation] prevent [Effect] a large-scale move by manufacturers in favor of direct sales is unlikely",
    "gold": "[Cause] the infrastructure required, end customers' price inelasticity, and the convenience associated with repair shops ordering parts made by multiple brands from one source [Relation] cause [Effect] a large-scale move by manufacturers in favor of direct sales is unlikely",
    "valid": true
  },
  {
    "input": "History suggests this could be possible, as Illinois' early plans for recreational legalization would hand an advantage to companies Drug Manufacturers - Specialty & Genericwith medical cultivation and dispensary licenses.",
    "output": "[Cause] Illinois' early plans for recreational legalization would hand an advantage to companies with medical cultivation and dispensary licenses [Relation] enable [Effect] this could be possible",
    "gold": "[Cause] Illinois' early plans for recreational legalization [Relation] cause [Effect] an advantage to companies Drug Manufacturers - Specialty & Genericwith medical cultivation and dispensary licenses.",
    "valid": false
  },
  {
    "input": "The company does not expect to maintain a steady inventory of a particular item or brand; as a result, manufacturers avoid the stigma of being a regular, featured presence in an off-price store.",
    "output": "[Cause] The company does not expect to maintain a steady inventory of a particular item or brand [Relation] enable [Effect] manufacturers avoid the stigma of being a regular, featured presence in an off-price store",
    "gold": "[Cause] The company does not expect to maintain a steady inventory of a particular item or brand [Relation] cause [Effect] manufacturers avoid the stigma of being a regular, featured presence in an off-price store",
    "valid": true
  },
  {
    "input": "We think demand is likely to fall in future, as low-cost supply expands, flattening the steep cost curve tail and facilitating lower prices long-term.",
    "output": "[Cause] low-cost supply expands [Relation] enable [Effect] demand is likely to fall in the future, facilitating lower prices long-term",
    "gold": "[Cause] low-cost supply expands, flattening the steep cost curve tail [Relation] cause [Effect] demand is likely to fall in future",
    "valid": false
  },
  {
    "input": "We think demand is likely to fall in future, as low-cost supply expands, flattening the steep cost curve tail and facilitating lower prices long-term.",
    "output": "[Cause] low-cost supply expands [Relation] enable [Effect] demand is likely to fall in future",
    "gold": "[Cause] facilitating lower prices long-term [Relation] cause [Effect] demand is likely to fall in future",
    "valid": false
  },
  {
    "input": "We believe the current ultra-accommodative monetary policy in the eurozone, has depressed net interest margins and obscured Santander's competitive advantages, resulting in lacklustre returns.",
    "output": "[Cause] the current ultra-accommodative monetary policy in the eurozone [Relation] cause [Effect] depressed net interest margins and obscured Santander's competitive advantages",
    "gold": "[Cause] the current ultra-accommodative monetary policy in the eurozone [Relation] cause [Effect] depressed net interest margins and obscured Santander's competitive advantages",
    "valid": true
  },
  {
    "input": "We believe the current ultra-accommodative monetary policy in the eurozone, has depressed net interest margins and obscured Santander's competitive advantages, resulting in lacklustre returns.",
    "output": "[Cause] the current ultra-accommodative monetary policy in the eurozone [Relation] cause [Effect] depressed net interest margins and obscured Santander's competitive advantages",
    "gold": "[Cause] depressed net interest margins and obscured Santander's competitive advantages [Relation] cause [Effect] lacklustre returns",
    "valid": false
  },
  {
    "input": "We expect Coloplast's wound-care segment to remain on a slightly slower growth trajectory as the market and larger advanced wound care competitors move further toward higher-tech solutions.",
    "output": "[Cause] the market and larger advanced wound care competitors move further toward higher-tech solutions [Relation] cause [Effect] Coloplast's wound-care segment to remain on a slightly slower growth trajectory",
    "gold": "[Cause] the market and larger advanced wound care competitors move further toward higher-tech solutions [Relation] enable [Effect] Coloplast's wound-care segment to remain on a slightly slower growth trajectory",
    "valid": true
  },
  {
    "input": "First, and most important, is the cachet of the Monster brand, which should help ensure sufficient and sustained end demand for its beverages such that neither Coke nor its bottlers need to worry about inventory builds or sell-through.",
    "output": "[Cause] the cachet of the Monster brand [Relation] enable [Effect] sufficient and sustained end demand for its beverages",
    "gold": "[Cause] the cachet of the Monster brand [Relation] enable [Effect] sufficient and sustained end demand for its beverages",
    "valid": true
  },
  {
    "input": "First, and most important, is the cachet of the Monster brand, which should help ensure sufficient and sustained end demand for its beverages such that neither Coke nor its bottlers need to worry about inventory builds or sell-through.",
    "output": "[Cause] the cachet of the Monster brand [Relation] enable [Effect] ensure sufficient and sustained end demand for its beverages",
    "gold": "[Cause] the cachet of the Monster brand [Relation] enable [Effect] neither Coke nor its bottlers need to worry about inventory builds or sell-through",
    "valid": false
  },
  {
    "input": "Through its allied brands portfolio, the firm profits from partnerships with nascent beverage companies as well as private-label brands that are looking for distribution breadth and access, which we think lends credence to Keurig Dr Pepper's strong position.",
    "output": "[Cause] partnerships with nascent beverage companies as well as private-label brands that are looking for distribution breadth and access [Relation] enable [Effect] Keurig Dr Pepper's strong position and profitable portfolio through its allied brands",
    "gold": "[Cause] its allied brands portfolio [Relation] enable [Effect] the firm profits from partnerships with nascent beverage companies as well as private-label brands that are looking for distribution breadth and access",
    "valid": false
  },
  {
    "input": "Through its allied brands portfolio, the firm profits from partnerships with nascent beverage companies as well as private-label brands that are looking for distribution breadth and access, which we think lends credence to Keurig Dr Pepper's strong position.",
    "output": "[Cause] partnerships with nascent beverage companies as well as private-label brands that are looking for distribution breadth and access [Relation] enable [Effect] the firm profits from its allied brands portfolio",
    "gold": "[Cause] the firm profits from partnerships with nascent beverage companies as well as private-label brands that are looking for distribution breadth and access [Relation] enable [Effect] lends credence to Keurig Dr Pepper's strong position",
    "valid": false
  },
  {
    "input": "Our outlook for residential construction and HVAC replacement remains constructive, which bodes well for Lennox because the firm generates more than half of its sales and profits from its residential HVAC business.",
    "output": "[Cause] Our outlook for residential construction and HVAC replacement remains constructive [Relation] enable [Effect] bodes well for Lennox",
    "gold": "[Cause] he firm generates more than half of its sales and profits from its residential HVAC business [Relation] cause [Effect] Our outlook for residential construction and HVAC replacement remains constructive",
    "valid": false
  },
  {
    "input": "We agree with Rockwell that it has a large runway since over 60% of factories are still not fully connected, based on industry reports.",
    "output": "[Cause] over 60% of factories are still not fully connected, based on industry reports [Relation] cause [Effect] Rockwell has a large runway",
    "gold": "[Cause] over 60% of factories are still not fully connected, based on industry reports [Relation] enable [Effect] it has a large runway",
    "valid": false
  },
  {
    "input": "In mid-2017, Apple announced that the Safari browser (on desktop and mobile devices) default ITP feature will erase cookies after 24 hours, likely preventing continuous tracking of user behavior data by ad-tech companies such as Criteo.",
    "output": "[Cause] Safari browser default ITP feature erasing cookies after 24 hours [Relation] prevent [Effect] likely preventing continuous tracking of user behavior data by ad-tech companies such as Criteo",
    "gold": "[Cause] the Safari browser (on desktop and mobile devices) default ITP feature will erase cookies after 24 hours [Relation] prevent [Effect] continuous tracking of user behavior data by ad-tech companies such as Criteo",
    "valid": false
  },
  {
    "input": "We do not expect the same stellar returns from its STACK, Powder River Basin, or Eagle Ford assets, and its Bakken footprint is too small to move the needle on returns at the firm level.",
    "output": "[Cause] The STACK, Powder River Basin, and Eagle Ford assets are not expected to generate stellar returns [Relation] cause [Effect] Bakken footprint is too small to move the needle on returns at the firm level",
    "gold": "[Cause] its Bakken footprint is too small [Relation] prevent [Effect] move the needle on returns at the firm level",
    "valid": false
  },
  {
    "input": "We still see meaningful downside for commodity prices from current levels but acknowledge that tighter markets will take time to normalise as the effects of China's fiscal and monetary stimulus wane.",
    "output": "[Cause] the effects of China's fiscal and monetary stimulus wane [Relation] cause [Effect] tighter markets will take time to normalize",
    "gold": "[Cause] China's fiscal and monetary stimulus wane [Relation] cause [Effect] tighter markets will take time to normalise",
    "valid": false
  },
  {
    "input": "While we still believe the market's valuation is on the generous side, our revised projections remain at the upper end of Refinitiv consensus; we think management can execute its strategic plan.",
    "output": "[Cause] management can execute its strategic plan [Relation] enable [Effect] revised projections remain at the upper end of Refinitiv consensus",
    "gold": "[Cause] our revised projections [Relation] cause [Effect] we think management can execute its strategic plan",
    "valid": false
  },
  {
    "input": "Enterprises can be slow to migrate to the cloud, given the greater degree of complexity involved in modifying large-scale operations. These firms often make the transition gradually, taking several years to go from an on-premises to a full cloud-native model.",
    "output": "[Cause] greater degree of complexity involved in modifying large-scale operations [Relation] cause [Effect] slow migration to the cloud",
    "gold": "[Cause] Enterprises can be slow to migrate to the cloud, given the greater degree of complexity involved in modifying large-scale operations [Relation] cause [Effect] These firms often make the transition gradually, taking several years to go from an on-premises to a full cloud-native model",
    "valid": false
  },
  {
    "input": "We believe the rise in passive investing will weigh on FactSet's target market through asset manager fee compression, resulting in slower growth.",
    "output": "[Cause] the rise in passive investing and asset manager fee compression [Relation] cause [Effect] weigh on FactSet's target market",
    "gold": "[Cause] FactSet's target market through asset manager fee compression [Relation] cause [Effect] the rise in passive investing",
    "valid": false
  },
  {
    "input": "We believe the rise in passive investing will weigh on FactSet's target market through asset manager fee compression, resulting in slower growth.",
    "output": "[Cause] the rise in passive investing [Relation] cause [Effect] weigh on FactSet's target market through asset manager fee compression",
    "gold": "[Cause] the rise in passive investing [Relation] cause [Effect] slower growth",
    "valid": false
  },
  {
    "input": "Furthermore, the change in consumer preferences has created a demand dislocation that has allowed new players like Aerie and Third Love to take share in the intimates' market, creating permanent long-term competition in the category.",
    "output": "[Cause] change in consumer preferences [Relation] enable [Effect] new players like Aerie and Third Love to take share in the intimates' market",
    "gold": "[Cause] a demand dislocation [Relation] enable [Effect] new players like Aerie and Third Love to take share in the intimates' market, creating permanent long-term competition in the category",
    "valid": false
  },
  {
    "input": "To further enhance digital offerings and overall data technology, WPP plans to invest up to GBP 150 million during the next few years.",
    "output": "[Cause] WPP plans to invest up to GBP 150 million during the next few years [Relation] cause [Effect] further enhance digital offerings and overall data technology",
    "gold": "[Cause] WPP plans to invest up to GBP 150 million during the next few years [Relation] cause [Effect] further enhance digital offerings and overall data technology",
    "valid": true
  },
  {
    "input": "These actions are the result of CEO Sean Connolly's value-over-volume strategy, an effort to upgrade the quality of the firm's products while eliminating deep discounting and ultimately improve the profitability of the brands.",
    "output": "[Cause] CEO Sean Connolly's value-over-volume strategy [Relation] cause [Effect] upgrade the quality of the firm's products, eliminate deep discounting, and ultimately improve the profitability of the brands",
    "gold": "[Cause] CEO Sean Connolly's value-over-volume strategy [Relation] cause [Effect] upgrade the quality of the firm's products while eliminating deep discounting and ultimately improve the profitability of the brands",
    "valid": false
  },
  {
    "input": "We believe the right tech and service investments are being made, which together with various secular trends (like wellness and deteriorating trust in municipal water) facilitate a nice runway of growth.",
    "output": "[Cause] right tech and service investments being made | various secular trends like wellness and deteriorating trust in municipal water [Relation] enable [Effect] facilitate a nice runway of growth",
    "gold": "[Cause] We believe the right tech and service investments are being made, which together with various secular trends (like wellness and deteriorating trust in municipal water) [Relation] cause [Effect] a nice runway of growth",
    "valid": false
  },
  {
    "input": "We believe Mattel's operating margins and returns on invested capital could rise as the firm's structural simplification and asset-light efforts continue to bear fruit; the Optimizing for Growth initiative could provide an incremental boost to cash flow.",
    "output": "[Cause] the firm's structural simplification and asset-light efforts continue to bear fruit [Relation] cause [Effect] Mattel's operating margins and returns on invested capital could rise",
    "gold": "[Cause] the firm's structural simplification and asset-light efforts continue to bear fruit [Relation] cause [Effect] Mattel's operating margins and returns on invested capital could rise",
    "valid": true
  },
  {
    "input": "We believe Mattel's operating margins and returns on invested capital could rise as the firm's structural simplification and asset-light efforts continue to bear fruit; the Optimizing for Growth initiative could provide an incremental boost to cash flow.",
    "output": "[Cause] the firm's structural simplification and asset-light efforts continue to bear fruit [Relation] enable [Effect] Mattel's operating margins and returns on invested capital could rise",
    "gold": "[Cause] the Optimizing for Growth initiative [Relation] enable [Effect] an incremental boost to cash flow",
    "valid": false
  },
  {
    "input": "At first glance, it might appear that the high-fixed-cost nature of LTL operations should allow for enduring scale-based cost advantages, or perhaps benefits from superior internal processes that optimize line-haul and pickup and delivery efficiency.",
    "output": "[Cause] high-fixed-cost nature of LTL operations [Relation] enable [Effect] allow for enduring scale-based cost advantages or benefits from superior internal processes that optimize line-haul and pickup and delivery efficiency",
    "gold": "[Cause] enduring scale-based cost advantages, or perhaps benefits from superior internal processes that optimize line-haul and pickup and delivery efficiency [Relation] cause [Effect] the high-fixed-cost nature of LTL operations should allow",
    "valid": false
  },
  {
    "input": "In our view, competition from Starbucks, Tim Hortons (part of Restaurant Brands International), JDE Peet's, and the convenience store channel could also limit Dunkin's expansion plans beyond core and established markets.",
    "output": "[Cause] competition from Starbucks, Tim Hortons, JDE Peet's, and the convenience store channel [Relation] prevent [Effect] limit Dunkin's expansion plans beyond core and established markets",
    "gold": "[Cause] competition from Starbucks, Tim Hortons (part of Restaurant Brands International), JDE Peet's, and the convenience store channel [Relation] prevent [Effect] Dunkin's expansion plans beyond core and established markets",
    "valid": false
  },
  {
    "input": "As Bemis works to better manage itself as a global enterprise, Sealed Air could face higher levels of consumable competition.",
    "output": "[Cause] Bemis works to better manage itself as a global enterprise [Relation] cause [Effect] Sealed Air could face higher levels of consumable competition",
    "gold": "[Cause] Bemis works to better manage itself as a global enterprise [Relation] cause [Effect] Sealed Air could face higher levels of consumable competition",
    "valid": true
  },
  {
    "input": "Given Fortune Brands' significant exposure to these end markets (50% of sales from R&R and 23% from new construction), the firm is positioned for continued growth over the next decade.",
    "output": "[Cause] Fortune Brands' significant exposure to end markets (50% of sales from R&R and 23% from new construction) [Relation] enable [Effect] the firm is positioned for continued growth over the next decade",
    "gold": "[Cause] Fortune Brands' significant exposure to these end markets [Relation] enable [Effect] the firm is positioned for continued growth over the next decade",
    "valid": false
  },
  {
    "input": "Further, the patent risk on cancer drug Alimta (9% of sales) is elevated as the 2022 patent is not a strong composition of matter patent, which increases the likelihood of earlier-than-expected generic competition.",
    "output": "[Cause] the 2022 patent is not a strong composition of matter patent [Relation] cause [Effect] the patent risk on cancer drug Alimta is elevated",
    "gold": "[Cause] the 2022 patent is not a strong composition of matter patent [Relation] cause [Effect] the patent risk on cancer drug Alimta (9% of sales) is elevated",
    "valid": false
  },
  {
    "input": "Further, the patent risk on cancer drug Alimta (9% of sales) is elevated as the 2022 patent is not a strong composition of matter patent, which increases the likelihood of earlier-than-expected generic competition.",
    "output": "[Cause] the 2022 patent for cancer drug Alimta is not a strong composition of matter patent [Relation] cause [Effect] the patent risk on Alimta is elevated",
    "gold": "[Cause] the patent risk on cancer drug Alimta (9% of sales) is elevated [Relation] cause [Effect] increases the likelihood of earlier-than-expected generic competition",
    "valid": false
  },
  {
    "input": "New management's restructuring plans echo others in European industrials, aimed at lowering corporate costs by putting more P&L responsibility at the divisional level.",
    "output": "[Cause] New management's restructuring plans [Relation] cause [Effect] aimed at lowering corporate costs by putting more P&L responsibility at the divisional level",
    "gold": "[Cause] putting more P&L responsibility at the divisional level [Relation] enable [Effect] lowering corporate costs",
    "valid": false
  },
  {
    "input": "Investment in the treasure hunt should keep post-pandemic traffic strong, and we are not concerned about saturation as rivals Ross and TJX grow, considering customers' willingness to shop multiple off-price stores.",
    "output": "[Cause] Investment in the treasure hunt [Relation] enable [Effect] keep post-pandemic traffic strong",
    "gold": "[Cause] customers' willingness to shop multiple off-price stores [Relation] cause [Effect] we are not concerned about saturation as rivals Ross and TJX grow",
    "valid": false
  },
  {
    "input": "As long-term care insurance is difficult to forecast and has proved more costly, Manulife no longer sells stand-alone long-term care products.",
    "output": "[Cause] long-term care insurance is difficult to forecast and has proved more costly [Relation] cause [Effect] Manulife no longer sells stand-alone long-term care products",
    "gold": "[Cause] long-term care insurance is difficult to forecast and has proved more costly [Relation] cause [Effect] Manulife no longer sells stand-alone long-term care products",
    "valid": true
  },
  {
    "input": "Alongside this, businesses would have to spend more time training personnel on how to use the new system, hampering productivity.",
    "output": "[Cause] businesses would have to spend more time training personnel on how to use the new system [Relation] cause [Effect] hampering productivity",
    "gold": "[Cause] how to use the new system [Relation] cause [Effect] businesses would have to spend more time training personnel",
    "valid": false
  },
  {
    "input": "We expect recovery from COVID-19 to further boost top-line growth and result in a 54% increase in 2021 (from 46% in 2020) and 47% year-over-year growth in 2022, representing total revenue of $3.9 billion and $5.7 billion, respectively.",
    "output": "[Cause] recovery from COVID-19 [Relation] cause [Effect] further boost top-line growth",
    "gold": "[Cause] recovery from COVID-19 [Relation] cause [Effect] further boost top-line growth",
    "valid": true
  },
  {
    "input": "The 2020 dip in profitability due to COVID-19 notwithstanding, management's efforts to streamline operations and enhance efficiency had taken hold over the last few years, and we forecast operating margin to peak at 23% in 2025.",
    "output": "[Cause] management's efforts to streamline operations and enhance efficiency had taken hold over the last few years [Relation] cause [Effect] forecast operating margin to peak at 23% in 2025",
    "gold": "[Cause] COVID-19 [Relation] cause [Effect] The 2020 dip in profitability",
    "valid": false
  },
  {
    "input": "Additionally, long-term price depreciation would expose the company to weakening returns on capital, as its large queue of new projects coming on line would be unlikely to generate their projected economic results.",
    "output": "[Cause] long-term price depreciation [Relation] cause [Effect] expose the company to weakening returns on capital",
    "gold": "[Cause] its large queue of new projects coming on line would be unlikely to generate their projected economic results [Relation] cause [Effect] long-term price depreciation would expose the company to weakening returns on capital",
    "valid": false
  },
  {
    "input": "Further, the car does 0-60 mph in under 2 seconds and has 1,020 horsepower, which put the Model S Plaid in a rare class of performance among all autos regardless of powertrain.",
    "output": "[Cause] the car does 0-60 mph in under 2 seconds and has 1,020 horsepower [Relation] cause [Effect] put the Model S Plaid in a rare class of performance among all autos regardless of powertrain",
    "gold": "[Cause] the car does 0-60 mph in under 2 seconds and has 1,020 horsepower [Relation] enable [Effect] put the Model S Plaid in a rare class of performance among all autos regardless of powertrain",
    "valid": true
  },
  {
    "input": "Owing to heavy competition with Qunar and eLong in 2014 and 2015, Trip.com's margins declined significantly, and the ROIC decreased from over 80% to negative 2.8% in 2014 and 1.9% in 2015.",
    "output": "[Cause] heavy competition with Qunar and eLong in 2014 and 2015 [Relation] cause [Effect] margins declined significantly, ROIC decreased from over 80% to negative 2.8% in 2014 and 1.9% in 2015",
    "gold": "[Cause] heavy competition with Qunar and eLong in 2014 and 2015 [Relation] cause [Effect] Trip.com's margins declined significantly, and the ROIC decreased from over 80% to negative 2.8% in 2014 and 1.9% in 2015",
    "valid": false
  },
  {
    "input": "While the reform is encouraging, it is only the first step of many in Brazil's efforts to narrow the economic gap with other developed countries, which will ultimately need to include reformation of an archaic and protectionist tax system and massive investments in domestic infrastructure.",
    "output": "[Cause] the reform is encouraging [Relation] enable [Effect] Brazil's efforts to narrow the economic gap with other developed countries",
    "gold": "[Cause] Brazil's efforts to narrow the economic gap with other developed countries [Relation] cause [Effect] need to include reformation of an archaic and protectionist tax system and massive investments in domestic infrastructure",
    "valid": false
  },
  {
    "input": "We expect average incrementals between 34% and 35% over the medium term as sales recover and believe the firm can eventually hit 21% segment operating margins and free cash flow margins of 15%.",
    "output": "[Cause] sales recover [Relation] cause [Effect] average incrementals between 34% and 35% over the medium term",
    "gold": "[Cause] sales recover [Relation] enable [Effect] average incrementals between 34% and 35% over the medium term",
    "valid": true
  },
  {
    "input": "We expect average incrementals between 34% and 35% over the medium term as sales recover and believe the firm can eventually hit 21% segment operating margins and free cash flow margins of 15%.",
    "output": "[Cause] sales recover [Relation] enable [Effect] average incrementals between 34% and 35% over the medium term",
    "gold": "[Cause] sales recover [Relation] enable [Effect] the firm can eventually hit 21% segment operating margins and free cash flow margins of 15%",
    "valid": false
  },
  {
    "input": "We believe Farfetch has a cost base to support higher revenue, providing opportunity for positive operating leverage as revenue grows. Hence, we expect general and administrative expense (including depreciation and technology expense) to scale from around 28% of gross merchandise value currently to 11.9% in 10 years' time.",
    "output": "[Cause] Farfetch has a cost base to support higher revenue [Relation] enable [Effect] opportunity for positive operating leverage as revenue grows",
    "gold": "[Cause] Farfetch has a cost base to support higher revenue, providing opportunity for positive operating leverage as revenue grows [Relation] cause [Effect] general and administrative expense (including depreciation and technology expense) to scale from around 28% of gross merchandise value currently to 11.9% in 10 years' time",
    "valid": false
  },
  {
    "input": "Clients of the custody banks do face switching costs due to process disruption, the interconnectedness of a client's workflows and the custodian's infrastructure, and onboarding costs.",
    "output": "[Cause] process disruption, interconnectedness of a client's workflows and the custodian's infrastructure, and onboarding costs [Relation] cause [Effect] Clients of the custody banks do face switching costs",
    "gold": "[Cause] process disruption, the interconnectedness of a client's workflows and the custodian's infrastructure, and onboarding costs [Relation] cause [Effect] Clients of the custody banks do face switching costs",
    "valid": false
  },
  {
    "input": "Though there is increasing commercial interest in space from the likes of SpaceX and Blue Origin, we think the technical complexity of military-grade satellites remains a stiff barrier to entry for all but a few firms.",
    "output": "[Cause] the technical complexity of military-grade satellites remains a stiff barrier to entry for all but a few firms [Relation] prevent [Effect] increasing commercial interest in space from the likes of SpaceX and Blue Origin",
    "gold": "[Cause] the technical complexity of military-grade satellites [Relation] cause [Effect] stiff barrier to entry for all but a few firms",
    "valid": false
  },
  {
    "input": "Our uncertainty rating for LPL Financial is high due to the cyclicality of the company's business and exposure to factors beyond its control, such as asset class returns and interest rates.",
    "output": "[Cause] cyclicality of the company's business and exposure to factors beyond its control, such as asset class returns and interest rates [Relation] cause [Effect] high uncertainty rating for LPL Financial",
    "gold": "[Cause] the cyclicality of the company's business and exposure to factors beyond its control, such as asset class returns and interest rates [Relation] cause [Effect] Our uncertainty rating for LPL Financial is high",
    "valid": false
  },
  {
    "input": "The substantial equivalence rule makes it extremely difficult for new entrants to launch new products, and it reduces the financial burden of investing in a fast-moving pipeline of new products that is a critical part of the business model for other large-cap consumer businesses.",
    "output": "[Cause] The substantial equivalence rule makes it extremely difficult for new entrants to launch new products [Relation] cause [Effect] reduces the financial burden of investing in a fast-moving pipeline of new products that is a critical part of the business model for other large-cap consumer businesses",
    "gold": "[Cause] The substantial equivalence rule [Relation] cause [Effect] difficult for new entrants to launch new products",
    "valid": false
  },
  {
    "input": "The substantial equivalence rule makes it extremely difficult for new entrants to launch new products, and it reduces the financial burden of investing in a fast-moving pipeline of new products that is a critical part of the business model for other large-cap consumer businesses.",
    "output": "[Cause] The substantial equivalence rule [Relation] cause [Effect] difficult for new entrants to launch new products",
    "gold": "[Cause] The substantial equivalence rule [Relation] cause [Effect] reduces the financial burden of investing in a fast-moving pipeline of new products",
    "valid": false
  },
  {
    "input": "We forecast adjusted operating margins will remain in the low-30s range in later years of our 10-year explicit forecast period as increased sales leverage, cost-optimization efforts, and sales and marketing expense efficiencies are neutralized by increased customer acquisition costs.",
    "output": "[Cause] increased sales leverage, cost-optimization efforts, and sales and marketing expense efficiencies [Relation] enable [Effect] forecast adjusted operating margins will remain in the low-30s range",
    "gold": "[Cause] increased sales leverage, cost-optimization efforts, and sales and marketing expense efficiencies are neutralized by increased customer acquisition costs [Relation] enable [Effect] adjusted operating margins will remain in the low-30s range in later years of our 10-year explicit forecast period",
    "valid": false
  },
  {
    "input": "We forecast adjusted operating margins will remain in the low-30s range in later years of our 10-year explicit forecast period as increased sales leverage, cost-optimization efforts, and sales and marketing expense efficiencies are neutralized by increased customer acquisition costs.",
    "output": "[Cause] increased sales leverage, cost-optimization efforts, and sales and marketing expense efficiencies [Relation] enable [Effect] adjusted operating margins will remain in the low-30s range in later years of our 10-year explicit forecast period",
    "gold": "[Cause] increased customer acquisition costs [Relation] cause [Effect] sales and marketing expense efficiencies are neutralized",
    "valid": false
  },
  {
    "input": "Wiley's products targeted to the professional community are affected by economic conditions, which can cause firms to change head count and training expenditures (though its education offerings could deliver an offsetting benefit if a soft economy were to lead to higher student enrollment).",
    "output": "[Cause] economic conditions [Relation] cause [Effect] firms change head count and training expenditures",
    "gold": "[Cause] a soft economy [Relation] cause [Effect] higher student enrollment",
    "valid": false
  },
  {
    "input": "Although the pandemic's sales surge should ease in mid-2021 as vaccines reduce infection rates, O'Reilly's long-term strength remains rooted in its competitive advantages.",
    "output": "[Cause] pandemic's sales surge should ease in mid-2021 as vaccines reduce infection rates [Relation] cause [Effect] O'Reilly's long-term strength remains rooted in its competitive advantages",
    "gold": "[Cause] vaccines reduce infection rates [Relation] enable [Effect] the pandemic's sales surge should ease in mid-2021",
    "valid": false
  },
  {
    "input": "With its 7-nm EPYC 2 (Rome) server CPUs launched in 2019, the firm is poised to grow its market share to at least 20% in the coming years. Consequently, we believe AMD will enjoy stellar revenue growth in the server CPU sub-segment of EESC, going from about $300 million in 2018 to $10.3 billion in 2025.",
    "output": "[Cause] the launch of 7-nm EPYC 2 (Rome) server CPUs [Relation] enable [Effect] poised to grow its market share to at least 20% in the coming years",
    "gold": "[Cause] With its 7-nm EPYC 2 (Rome) server CPUs launched in 2019, the firm is poised to grow its market share to at least 20% in the coming years [Relation] cause [Effect] AMD will enjoy stellar revenue growth in the server CPU sub-segment of EESC, going from about $300 million in 2018 to $10.3 billion in 2025",
    "valid": false
  },
  {
    "input": "Additionally, community members often act as a hurdle for self-storage development, as these facilities are viewed more negatively than residential properties or manufacturing facilities that could potentially provide housing and jobs that could increase the surrounding property value.",
    "output": "[Cause] self-storage facilities are viewed more negatively than residential properties or manufacturing facilities [Relation] prevent [Effect] community members often act as a hurdle for self-storage development",
    "gold": "[Cause] these facilities are viewed more negatively than residential properties [Relation] cause [Effect] community members often act as a hurdle for self-storage development",
    "valid": false
  },
  {
    "input": "Additionally, community members often act as a hurdle for self-storage development, as these facilities are viewed more negatively than residential properties or manufacturing facilities that could potentially provide housing and jobs that could increase the surrounding property value.",
    "output": "[Cause] self-storage facilities are viewed more negatively by community members [Relation] prevent [Effect] act as a hurdle for self-storage development",
    "gold": "[Cause] these facilities are viewed more negatively than residential properties [Relation] enable [Effect] potentially provide housing and jobs",
    "valid": false
  },
  {
    "input": "Additionally, community members often act as a hurdle for self-storage development, as these facilities are viewed more negatively than residential properties or manufacturing facilities that could potentially provide housing and jobs that could increase the surrounding property value.",
    "output": "[Cause] self-storage facilities are viewed more negatively than residential properties or manufacturing facilities [Relation] cause [Effect] community members often act as a hurdle for self-storage development",
    "gold": "[Cause] potentially provide housing and jobs [Relation] cause [Effect] increase the surrounding property value",
    "valid": false
  },
  {
    "input": "CROs can be susceptible to impact from large cancellations, whether due to clinical failure or reprioritization, because it can be difficult to repurpose capacity that was previously allocated to that large trial.",
    "output": "[Cause] large cancellations, whether due to clinical failure or reprioritization [Relation] cause [Effect] CROs can be susceptible to impact",
    "gold": "[Cause] clinical failure or reprioritization [Relation] cause [Effect] large cancellations",
    "valid": false
  },
  {
    "input": "CROs can be susceptible to impact from large cancellations, whether due to clinical failure or reprioritization, because it can be difficult to repurpose capacity that was previously allocated to that large trial.",
    "output": "[Cause] large cancellations, whether due to clinical failure or reprioritization [Relation] cause [Effect] CROs can be susceptible to impact",
    "gold": "[Cause] it can be difficult to repurpose capacity that was previously allocated to that large trial [Relation] cause [Effect] CROs can be susceptible to impact from large cancellations",
    "valid": false
  },
  {
    "input": "Retailers and manufacturers work together to ensure ample supply, with stores motivated through advertising or markdown allowances to ensure inventory clears, delivery concessions, and return privileges for excess merchandise.",
    "output": "[Cause] Retailers and manufacturers working together to ensure ample supply [Relation] enable|motivate [Effect] stores motivated through advertising or markdown allowances to ensure inventory clears, delivery concessions, and return privileges for excess merchandise",
    "gold": "[Cause] advertising or markdown allowances [Relation] enable [Effect] inventory clears, delivery concessions, and return privileges for excess merchandise",
    "valid": false
  },
  {
    "input": "There is also a risk that universities may use the transition to digital learning to demand lower-cost materials, given the high margins that have existed in textbooks for many years.",
    "output": "[Cause] the transition to digital learning [Relation] enable [Effect] universities may use the transition to digital learning to demand lower-cost materials",
    "gold": "[Cause] universities may use the transition to digital learning to demand lower-cost materials, given the high margins that have existed in textbooks for many years [Relation] cause [Effect] risk",
    "valid": false
  },
  {
    "input": "Moen's growing presence in China, its market repositioning in cabinets, Fiberon's distribution expansion, new product introductions across Fortune Brands' three segments, and price increases should also support sales growth over our forecast.",
    "output": "[Cause] Moen's growing presence in China, its market repositioning in cabinets, Fiberon's distribution expansion, new product introductions across Fortune Brands' three segments, and price increases [Relation] cause [Effect] support sales growth over our forecast",
    "gold": "[Cause] Moen's growing presence in China, its market repositioning in cabinets, Fiberon's distribution expansion, new product introductions across Fortune Brands' three segments, and price increases [Relation] enable [Effect] support sales growth over our forecast",
    "valid": true
  },
  {
    "input": "Waddell & Reed will continue to be reliant upon market gains to drive AUM growth, as our five-year CAGR for organic AUM growth remains in a negative 3%-5% range.",
    "output": "[Cause] reliance upon market gains to drive AUM growth [Relation] cause [Effect] our five-year CAGR for organic AUM growth remains in a negative 3%-5% range",
    "gold": "[Cause] our five-year CAGR for organic AUM growth remains in a negative 3%-5% range [Relation] cause [Effect] Waddell & Reed will continue to be reliant upon market gains to drive AUM growth",
    "valid": false
  },
  {
    "input": "Low-cost and ultra-low-cost carriers have tendencies to enter markets and drive returns down for all participants due to an excess of supply for a somewhat fixed pool of demand.",
    "output": "[Cause] Low-cost and ultra-low-cost carriers entering markets [Relation] cause [Effect] drive returns down for all participants",
    "gold": "[Cause] an excess of supply for a somewhat fixed pool of demand [Relation] cause [Effect] Low-cost and ultra-low-cost carriers have tendencies to enter markets and drive returns down for all participants",
    "valid": false
  },
  {
    "input": "This has been a multiyear project and included moving the headquarters to Dallas from Michigan in 2007 and greatly expanding operations in Texas by acquiring Sterling Bancshares in 2011.",
    "output": "[Cause] moving the headquarters to Dallas from Michigan in 2007 and acquiring Sterling Bancshares in 2011 [Relation] enable [Effect] greatly expanding operations in Texas",
    "gold": "[Cause] moving the headquarters to Dallas from Michigan in 2007 and greatly expanding operations in Texas by acquiring Sterling Bancshares in 2011 [Relation] cause [Effect] This has been a multiyear project",
    "valid": false
  },
  {
    "input": "The firm's differentiation comes by way of product breadth and its logistics network, which permits faster delivery of both small and large parcels than most of its peers.",
    "output": "[Cause] product breadth and its logistics network [Relation] enable [Effect] firm's differentiation",
    "gold": "[Cause] The firm's differentiation comes by way of product breadth and its logistics network [Relation] enable [Effect] faster delivery of both small and large parcels than most of its peers",
    "valid": false
  },
  {
    "input": "In terms of cost advantage, we would need to see evidence that an iBuyer can structurally speed up and streamline the home purchase and sale process as compared with competitors to reduce transaction costs, holding costs, and interest expenses.",
    "output": "[Cause] structurally speed up and streamline the home purchase and sale process as compared with competitors [Relation] enable [Effect] reduce transaction costs, holding costs, and interest expenses",
    "gold": "[Cause] iBuyer can structurally speed up and streamline the home purchase and sale process [Relation] cause [Effect] reduce transaction costs, holding costs, and interest expenses",
    "valid": false
  },
  {
    "input": "Today management is describing that same reluctance on the part of insurers as they are now flirting with adopting the SaaS version of InsuranceSuite.",
    "output": "[Cause] reluctance on the part of insurers [Relation] cause [Effect] flirting with adopting the SaaS version of InsuranceSuite",
    "gold": "[Cause] they are now flirting with adopting the SaaS version of InsuranceSuite [Relation] cause [Effect] Today management is describing that same reluctance on the part of insurers",
    "valid": false
  },
  {
    "input": "We do expect management to continue its patient and prudent capital stewardship, but high supply is limiting the ability to realize internal and external growth above the long-term trend.",
    "output": "[Cause] high supply [Relation] prevent [Effect] limiting the ability to realize internal and external growth above the long-term trend",
    "gold": "[Cause] high supply [Relation] cause [Effect] limiting the ability to realize internal and external growth above the long-term trend",
    "valid": true
  },
  {
    "input": "Suppliers could also decide to bring the demand creation abilities in-house, which would significantly reduce Arrow's value proposition, while broadline distributors will likely continue to acquire their own value-added services, further encroaching on Arrow's territory.",
    "output": "[Cause] Suppliers could decide to bring the demand creation abilities in-house [Relation] cause [Effect] significantly reduce Arrow's value proposition",
    "gold": "[Cause] Suppliers could also decide to bring the demand creation abilities in-house [Relation] cause [Effect] significantly reduce Arrow's value proposition",
    "valid": false
  },
  {
    "input": "Suppliers could also decide to bring the demand creation abilities in-house, which would significantly reduce Arrow's value proposition, while broadline distributors will likely continue to acquire their own value-added services, further encroaching on Arrow's territory.",
    "output": "[Cause] Suppliers could also decide to bring the demand creation abilities in-house [Relation] cause [Effect] significantly reduce Arrow's value proposition",
    "gold": "[Cause] Suppliers could also decide to bring the demand creation abilities in-house [Relation] cause [Effect] broadline distributors will likely continue to acquire their own value-added services, further encroaching on Arrow's territory",
    "valid": false
  },
  {
    "input": "Previous acquisitions have included material goodwill components, which stand to damp ROIC, and we would expect future acquisitions to require material goodwill allocations as well.",
    "output": "[Cause] Previous acquisitions have included material goodwill components [Relation] cause [Effect] stand to damp ROIC (Return on Invested Capital)",
    "gold": "[Cause] Previous acquisitions have included material goodwill components, which stand to damp ROIC [Relation] cause [Effect] we would expect future acquisitions to require material goodwill allocations as well",
    "valid": false
  },
  {
    "input": "With the completion of its growth spending program in 2020, DCP has outlined a plan where growth capital spending drops to well below $100 million annually from over $500 million in 2019. This program would let DCP generate excess cash flow after distributions and capital spending in 2021, but we don't expect the firm to be able to grow meaningfully more than $1.2 billion-$1.3 billion in EBITDA beyond 2022.",
    "output": "[Cause] completion of its growth spending program in 2020 [Relation] enable, result [Effect] growth capital spending drops to well below $100 million annually from over $500 million in 2019",
    "gold": "[Cause] With the completion of its growth spending program in 2020, DCP has outlined a plan where growth capital spending drops to well below $100 million annually from over $500 million in 2019 [Relation] enable [Effect] DCP generate excess cash flow after distributions and capital spending in 2021, but we don't expect the firm to be able to grow meaningfully more than $1.2 billion-$1.3 billion in EBITDA beyond 2022",
    "valid": false
  },
  {
    "input": "On a company-specific level, we believe SBA has more risk than American Tower due to its international concentration in Brazil, where it has twice as many sites as all other international markets combined, and its aggressive use of financial leverage.",
    "output": "[Cause] international concentration in Brazil, where it has twice as many sites as all other international markets combined, and its aggressive use of financial leverage. [Relation] cause [Effect] SBA has more risk than American Tower",
    "gold": "[Cause] its international concentration in Brazil, where it has twice as many sites as all other international markets combined, and its aggressive use of financial leverage [Relation] cause [Effect] SBA has more risk than American Tower",
    "valid": false
  },
  {
    "input": "We think sales weakness and discounting in the athletic apparel industry have lowered gross margins, and we expect Dick's gross margins to remain below peak levels.",
    "output": "[Cause] sales weakness and discounting in the athletic apparel industry [Relation] cause [Effect] lowered gross margins",
    "gold": "[Cause] sales weakness and discounting in the athletic apparel industry [Relation] cause [Effect] lowered gross margins",
    "valid": true
  },
  {
    "input": "While the idea of data collection seems simple (and almost all retailers are capturing data on purchases to some degree), we believe it is more complex for Williams-Sonoma, as the company can use it to market more dynamically.",
    "output": "[Cause] the company can use data collection to market more dynamically [Relation] enable [Effect] data collection is more complex for Williams-Sonoma",
    "gold": "[Cause] the company can use it to market more dynamically [Relation] cause [Effect] we believe it is more complex for Williams-Sonoma",
    "valid": false
  },
  {
    "input": "The company regularly recycles capital by selling noncore assets or exiting markets and using the proceeds for its development pipeline or acquisitions with strong growth prospects, a strategy that has produced strong returns.",
    "output": "[Cause] the company regularly recycles capital by selling noncore assets or exiting markets and using the proceeds for its development pipeline or acquisitions with strong growth prospects [Relation] enable [Effect] a strategy that has produced strong returns",
    "gold": "[Cause] strategy [Relation] cause [Effect] produced strong returns",
    "valid": false
  },
  {
    "input": "The company regularly recycles capital by selling noncore assets or exiting markets and using the proceeds for its development pipeline or acquisitions with strong growth prospects, a strategy that has produced strong returns.",
    "output": "[Cause] regularly recycles capital by selling noncore assets or exiting markets [Relation] enable [Effect] using the proceeds for its development pipeline or acquisitions with strong growth prospects",
    "gold": "[Cause] selling noncore assets or exiting markets and using the proceeds for its development pipeline or acquisitions with strong growth prospects [Relation] enable [Effect] The company regularly recycles capital",
    "valid": false
  },
  {
    "input": "The success of ongoing initiatives should set the operating margin back on a improving trajectory in 2022, as investments wind down.",
    "output": "[Cause] the success of ongoing initiatives [Relation] cause [Effect] set the operating margin back on an improving trajectory in 2022",
    "gold": "[Cause] investments wind down [Relation] enable [Effect] The success of ongoing initiatives should set the operating margin back on a improving trajectory in 2022",
    "valid": false
  },
  {
    "input": "Collins Aerospace has significant component placement on the MAX and faces coronavirus headwinds, but we still expect narrow-body sales will allow Collins to produce a revenue CAGR of 8.2%, higher than usual due to a post-pandemic commercial aerospace recovery.",
    "output": "[Cause] post-pandemic commercial aerospace recovery [Relation] enable [Effect] narrow-body sales will allow Collins to produce a revenue CAGR of 8.2%",
    "gold": "[Cause] higher than usual [Relation] cause [Effect] a post-pandemic commercial aerospace recovery",
    "valid": false
  },
  {
    "input": "We've raised our fair value estimate for the New York Stock Exchange-traded shares of Ferrari to $125 from $117 due primarily to the change in currency spot rate to $1.2175/EUR 1 from $1.1633/EUR 1 in our previous model but also the time value of money since our last update.",
    "output": "[Cause] change in currency spot rate to $1.2175/EUR 1 from $1.1633/EUR 1 [Relation] enable [Effect] raised fair value estimate for the New York Stock Exchange-traded shares of Ferrari to $125 from $117",
    "gold": "[Cause] the change in currency spot rate| the time value of money [Relation] cause [Effect] raised our fair value estimate",
    "valid": false
  },
  {
    "input": "The current economic environment and the fallout from COVID-19 is a stark reminder of this, where corporate spending, consumer spending, and travel have all been curtailed, significantly affecting Amex's revenues.",
    "output": "[Cause] the current economic environment and the fallout from COVID-19 [Relation] cause [Effect] significantly affecting Amex's revenues",
    "gold": "[Cause] The current economic environment and the fallout from COVID-19 [Relation] cause [Effect] corporate spending, consumer spending, and travel have all been curtailed",
    "valid": false
  },
  {
    "input": "The current economic environment and the fallout from COVID-19 is a stark reminder of this, where corporate spending, consumer spending, and travel have all been curtailed, significantly affecting Amex's revenues.",
    "output": "[Cause] current economic environment and the fallout from COVID-19 [Relation] cause [Effect] corporate spending, consumer spending, and travel have all been curtailed, significantly affecting Amex's revenues",
    "gold": "[Cause] travel have all been curtailed [Relation] cause [Effect] significantly affecting Amex's revenues",
    "valid": false
  },
  {
    "input": "To maintain its ability to demand high margins, Zebra spends a relatively large portion of sales on continual research and development to produce hardware that is continually optimized for the modern operating environments and can stave off commoditization.",
    "output": "[Cause] Zebra spends a relatively large portion of sales on continual research and development to produce hardware that is continually optimized for the modern operating environments [Relation] enable [Effect] maintain its ability to demand high margins",
    "gold": "[Cause] maintain its ability to demand high margins [Relation] cause [Effect] Zebra spends a relatively large portion of sales on continual research and development",
    "valid": false
  },
  {
    "input": "Shifts away from equity strategies have an adverse effect on revenue as well, as management fees tend to be lower for fixed-income and money market funds than they are for equity-based funds.",
    "output": "[Cause] Shifts away from equity strategies [Relation] cause [Effect] adverse effect on revenue",
    "gold": "[Cause] management fees tend to be lower for fixed-income and money market funds than they are for equity-based funds [Relation] cause [Effect] Shifts away from equity strategies have an adverse effect on revenue as wel",
    "valid": false
  },
  {
    "input": "We believe the COVID-19 pandemic has posed challenges that could lower demand for early-stage trials; however, Charles River has adapted well to the pandemic and seems to have rebounded from COVID-19-related client disruptions.",
    "output": "[Cause] COVID-19 pandemic has posed challenges that could lower demand for early-stage trials [Relation] enable [Effect] Charles River has adapted well to the pandemic and seems to have rebounded from COVID-19-related client disruptions",
    "gold": "[Cause] he COVID-19 pandemic has posed challenges [Relation] cause [Effect] lower demand for early-stage trials",
    "valid": false
  },
  {
    "input": "We do not think the COVID-19 pandemic has structurally impaired commercial aviation and anticipate a rebound in airlines' revenue passenger kilometers after lockdowns are lifted.",
    "output": "[Cause] lockdowns are lifted [Relation] enable [Effect] anticipate a rebound in airlines' revenue passenger kilometers",
    "gold": "[Cause] the COVID-19 pandemic [Relation] enable [Effect] structurally impaired commercial aviation",
    "valid": false
  },
  {
    "input": "We're also intrigued by Dunkin's ongoing ''smart pricing'' initiative, which is designed to help franchisees more effectively price by product category instead of blanket recommendations from management, helping to better manage wage inflation.",
    "output": "[Cause] Dunkin's ongoing \"smart pricing\" initiative [Relation] enable [Effect] help franchisees more effectively price by product category",
    "gold": "[Cause] help franchisees more effectively price by product category instead of blanket recommendations from management [Relation] enable [Effect] better manage wage inflation",
    "valid": false
  },
  {
    "input": "Telefonica has also been involved in some bribery accusations in Spain and Brazil, but we believe these controversies should decline as the company gradually exits Latin American emerging markets.",
    "output": "[Cause] Telefonica gradually exits Latin American emerging markets [Relation] cause [Effect] these controversies should decline",
    "gold": "[Cause] the company gradually exits Latin American emerging markets [Relation] cause [Effect] these controversies should decline",
    "valid": false
  },
  {
    "input": "As a result, large swaths of the phone network remain incapable of delivering the speeds beyond around 20 megabits/second or so, increasingly falling short of customer demand.",
    "output": "[Cause] large swaths of the phone network remain incapable of delivering high speeds [Relation] cause [Effect] increasingly falling short of customer demand",
    "gold": "[Cause] large swaths of the phone network remain incapable of delivering the speeds [Relation] cause [Effect] falling short of customer demand",
    "valid": false
  },
  {
    "input": "Tracking billable hours, moreover, is the lifeblood of a law firm, and attorneys must meet stringent annual billing requirements amid both industry pricing and operating efficiency pressures.",
    "output": "[Cause] attorneys must meet stringent annual billing requirements amid both industry pricing and operating efficiency pressures [Relation] cause [Effect] Tracking billable hours is the lifeblood of a law firm",
    "gold": "[Cause] Tracking billable hours, moreover, is the lifeblood of a law firm [Relation] cause [Effect] attorneys must meet stringent annual billing requirements amid both industry pricing and operating efficiency pressures",
    "valid": false
  },
  {
    "input": "In our base case, we assume contractual rent growth, occupancy and re-leasing spreads suffer due to the coronavirus outbreak that has forced nearly all retail and office properties to remain empty due to government-mandated shelter-in-place orders.  As a result, we expect weak performance through 2022, before the market ultimately recovers and eventually settles at contractual growth of just under 2% in 2029.",
    "output": "[Cause] the coronavirus outbreak that has forced nearly all retail and office properties to remain empty due to government-mandated shelter-in-place orders [Relation] cause [Effect] contractual rent growth, occupancy and re-leasing spreads suffer",
    "gold": "[Cause] In our base case, we assume contractual rent growth, occupancy and re-leasing spreads suffer due to the coronavirus outbreak that has forced nearly all retail and office properties to remain empty due to government-mandated shelter-in-place orders [Relation] cause [Effect] we expect weak performance through 2022, before the market ultimately recovers and eventually settles at contractual growth of just under 2% in 2029",
    "valid": false
  },
  {
    "input": "Medtronic has historically focused on innovation, designing and manufacturing devices to address cardiac care, neurological and spinal conditions, and diabetes.",
    "output": "[Cause] historically focused on innovation, designing and manufacturing devices to address cardiac care, neurological and spinal conditions, and diabetes [Relation] enable [Effect] Medtronic's emphasis on innovation",
    "gold": "[Cause] Medtronic has historically focused on innovation, designing and manufacturing devices [Relation] enable [Effect] address cardiac care, neurological and spinal conditions, and diabetes",
    "valid": false
  },
  {
    "input": "The company consolidated the market in 1960 to create the largest drugmaker that was later expanded into Europe and the United States and then into generics in 1984 with the passage of the Hatch-Waxman Act.",
    "output": "[Cause] The company consolidated the market in 1960 to create the largest drugmaker [Relation] enable [Effect] later expanded into Europe and the United States and then into generics in 1984 with the passage of the Hatch-Waxman Act",
    "gold": "[Cause] the passage of the Hatch-Waxman Act [Relation] enable [Effect] expanded into Europe and the United States and then into generics in 1984",
    "valid": false
  },
  {
    "input": "We think this is appropriate given the future challenges faced by New York City due to the economic fallout from the pandemic.",
    "output": "[Cause] future challenges faced by New York City due to the economic fallout from the pandemic [Relation] cause [Effect] thinking it is appropriate",
    "gold": "[Cause] the economic fallout from the pandemic [Relation] prevent [Effect] appropriate given the future challenges faced by New York City",
    "valid": false
  },
  {
    "input": "The federally-regulated concept of actuarial soundness means each state must appropriately price for both medical risk and other reasonable costs for its Medicaid population in order to receive federal funding.",
    "output": "[Cause] The federally-regulated concept of actuarial soundness [Relation] ensure [Effect] each state must appropriately price for both medical risk and other reasonable costs for its Medicaid population in order to receive federal funding",
    "gold": "[Cause] each state must appropriately price for both medical risk and other reasonable costs for its Medicaid population [Relation] enable [Effect] receive federal funding",
    "valid": false
  },
  {
    "input": "The increase is attributable to CRH's favourable exposure to the U.S., where barriers to entry are higher than other regions, and which enjoys a favourable outlook due to increasing infrastructure spending.",
    "output": "[Cause] CRH's favourable exposure to the U.S. [Relation] enable [Effect] The increase",
    "gold": "[Cause] increasing infrastructure spending [Relation] cause [Effect] a favourable outlook",
    "valid": false
  },
  {
    "input": "We believe having these additional offerings leads to an improved breadth of products, enabling more cross-selling, higher margins, lower distribution costs, and higher switching costs.",
    "output": "[Cause] having these additional offerings [Relation] enable [Effect] improved breadth of products, enabling more cross-selling, higher margins, lower distribution costs, and higher switching costs",
    "gold": "[Cause] these additional offerings leads to an improved breadth of products [Relation] cause [Effect] more cross-selling, higher margins, lower distribution costs, and higher switching costs",
    "valid": false
  },
  {
    "input": "With leading investment bank, commercial bank, credit card, retail bank, and asset and wealth management franchises, JPMorgan is truly a force to be reckoned with.",
    "output": "[Cause] leading investment bank, commercial bank, credit card, retail bank, and asset and wealth management franchises [Relation] enable [Effect] JPMorgan is a force to be reckoned with",
    "gold": "[Cause] leading investment bank, commercial bank, credit card, retail bank, and asset and wealth management franchises [Relation] enable [Effect] JPMorgan is truly a force to be reckoned with",
    "valid": false
  },
  {
    "input": "We expect economic profits to return as the pandemic eases, with our 10-year average estimate of adjusted return on invested capital in the high-20s.",
    "output": "[Cause] pandemic easing [Relation] cause [Effect] economic profits to return",
    "gold": "[Cause] as the pandemic eases [Relation] enable [Effect] with our 10-year average estimate of adjusted return on invested capital in the high-20s",
    "valid": false
  },
  {
    "input": "Also, Astra's operating structure allows for cost-cutting following patent losses to reduce the margin pressure from lost high-margin drug sales.",
    "output": "[Cause] patent losses [Relation] cause [Effect] margin pressure from lost high-margin drug sales",
    "gold": "[Cause] Astra's operating structure [Relation] enable [Effect] cost-cutting following patent losses",
    "valid": false
  },
  {
    "input": "Overall, we view the uncertainty for Glaxo as medium, given all the diversification the company has across its platforms offsetting the variable outcomes for drug development and competitive challenges to the firms' leading products.",
    "output": "[Cause] the diversification the company has across its platforms [Relation] offset [Effect] uncertainty for Glaxo as medium",
    "gold": "[Cause] all the diversification the company has across its platforms [Relation] enable [Effect] offsetting the variable outcomes for drug development and competitive challenges to the firms' leading products",
    "valid": false
  },
  {
    "input": "If the firm is unable to effectively source and integrate new employees, it could stymie innovation and affect Splunk's competitive positioning.",
    "output": "[Cause] inability to effectively source and integrate new employees [Relation] cause [Effect] stymie innovation and affect Splunk's competitive positioning",
    "gold": "[Cause] unable to effectively source and integrate new employees [Relation] cause [Effect] stymie innovation and affect Splunk's competitive positioning",
    "valid": false
  },
  {
    "input": "We expect wireline revenue growth to steadily accelerate throughout our forecast, to about 3% by 2024, as continuing declines in voice revenue become less impactful and BCE's fiber-to-the-home, or FTTH, buildout and higher network quality dominate the segment and propel the firm to further share gains.",
    "output": "[Cause] BCE's fiber-to-the-home, or FTTH, buildout and higher network quality [Relation] enable [Effect] wireline revenue growth to steadily accelerate throughout our forecast, to about 3% by 2024",
    "gold": "[Cause] continuing declines in voice revenue become less impactful and BCE's fiber-to-the-home [Relation] cause [Effect] We expect wireline revenue growth to steadily accelerate throughout our forecast",
    "valid": false
  },
  {
    "input": "Alcoa enjoys full vertical integration, providing more control over its supply chain than many of its competitors, which must secure factors of production from external sources.",
    "output": "[Cause] Alcoa enjoys full vertical integration [Relation] enable [Effect] providing more control over its supply chain than many of its competitors",
    "gold": "[Cause] providing more control over its supply chain than many of its competitors [Relation] enable [Effect] secure factors of production from external sources",
    "valid": false
  },
  {
    "input": "Additionally, there are indirect costs along those same lines, mainly lost productivity as employees move up a learning curve on the new system, and the distraction of employees involved in the function where the change is occurring.",
    "output": "[Cause] the change in system [Relation] cause [Effect] lost productivity as employees move up a learning curve on the new system, distraction of employees involved in the function where the change is occurring",
    "gold": "[Cause] employees move up a learning curve on the new system, [Relation] cause [Effect] there are indirect costs along those same lines",
    "valid": false
  },
  {
    "input": "Additionally, there are indirect costs along those same lines, mainly lost productivity as employees move up a learning curve on the new system, and the distraction of employees involved in the function where the change is occurring.",
    "output": "[Cause] employees move up a learning curve on the new system [Relation] cause [Effect] lost productivity",
    "gold": "[Cause] the distraction of employees involved in the function where the change is occurring [Relation] cause [Effect] there are indirect costs along those same lines",
    "valid": false
  },
  {
    "input": "We think Hain's strategy to turnaround the business is starting to bear fruit, as the firm recognized organic sales growth of 2.6% excluding SKU rationalization and 110 basis points of improved operating margin (to 6.8%) in fiscal 2020.",
    "output": "[Cause] Hain's strategy to turnaround the business [Relation] cause [Effect] firm recognized organic sales growth of 2.6% excluding SKU rationalization and 110 basis points of improved operating margin (to 6.8%)",
    "gold": "[Cause] firm recognized organic sales growth of 2.6% excluding SKU rationalization and 110 basis points of improved operating margin (to 6.8%) in fiscal 2020 [Relation] enable [Effect] Hain's strategy to turnaround the business",
    "valid": false
  },
  {
    "input": "Kroger's scope should allow it to manage the transition of trade spending; for example, the firm is already offering boosted search placements to food manufacturers, allowing them to pay to have their products listed at the top of search results in a high-impression, high-conversion venue.",
    "output": "[Cause] Kroger's scope should allow it to manage the transition of trade spending [Relation] enable [Effect] the firm is already offering boosted search placements to food manufacturers, allowing them to pay to have their products listed at the top of search results in a high-impression, high-conversion venue",
    "gold": "[Cause] Kroger's scope [Relation] cause [Effect] allow it to manage the transition of trade spending",
    "valid": false
  },
  {
    "input": "This virtuous cycle of intangible assets brought by heavy R&amp;D and cost advantages brought by better PPA reinforce each other, preventing smaller peers catching up, in our view.",
    "output": "[Cause] heavy R&D [Relation] enable [Effect] virtuous cycle of intangible assets",
    "gold": "[Cause] This virtuous cycle of intangible assets brought by heavy R&amp;D and cost advantages brought by better PPA reinforce each other [Relation] prevent [Effect] smaller peers catching up",
    "valid": false
  },
  {
    "input": "Delivery can extend Sprouts' appeal to customers who do not regularly drive past a store, but the channel is margin-dilutive even for firms that are able to scale costs over a much larger sales base.",
    "output": "[Cause] Delivery can extend Sprouts' appeal to customers who do not regularly drive past a store [Relation] enable [Effect] the channel is margin-dilutive",
    "gold": "[Cause] Delivery can extend Sprouts' appeal to customers who do not regularly drive past a store [Relation] enable [Effect] scale costs over a much larger sales base.",
    "valid": false
  },
  {
    "input": "One effect of climate change is for climates to shift north, which brings warmer weather and fewer snow days to northern climates. As a result, we expect a small decline in normal deicing salt demand over time and limited prospects for sustained price increases.",
    "output": "[Cause] climate change. [Relation] cause, effect. [Effect] climates to shift north, warmer weather and fewer snow days to northern climates, a small decline in normal deicing salt demand over time, limited prospects for sustained price increases.",
    "gold": "[Cause] One effect of climate change is for climates to shift north, which brings warmer weather and fewer snow days to northern climates [Relation] cause [Effect] a small decline in normal deicing salt demand over time and limited prospects for sustained price increases",
    "valid": false
  },
  {
    "input": "While we see the possibility that enterprises will have less need for data centers if they use infrastructure as a service, or IaaS, to a greater extent, our bigger concern is that companies that don't make that move will be able to satisfy their needs with less space.",
    "output": "[Cause] enterprises use infrastructure as a service (IaaS) to a greater extent [Relation] enable [Effect] enterprises will have less need for data centers",
    "gold": "[Cause] they use infrastructure as a service, or IaaS [Relation] cause [Effect] that enterprises will have less need for data centers",
    "valid": false
  },
  {
    "input": "While we see the possibility that enterprises will have less need for data centers if they use infrastructure as a service, or IaaS, to a greater extent, our bigger concern is that companies that don't make that move will be able to satisfy their needs with less space.",
    "output": "[Cause] enterprises using infrastructure as a service, or IaaS, to a greater extent [Relation] enable [Effect] possibility that enterprises will have less need for data centers",
    "gold": "[Cause] companies that don't make that move [Relation] enable [Effect] to satisfy their needs with less space",
    "valid": false
  },
  {
    "input": "The FVL contract is intended to be awarded in 2022, but the aircraft are not intended to be operational until the early 2030s, which gives us confidence that Bell's military segment will continue earning excess returns until then at least.",
    "output": "[Cause] The FVL contract is intended to be awarded in 2022 [Relation] enable [Effect] the aircraft are not intended to be operational until the early 2030s",
    "gold": "[Cause] the aircraft are not intended to be operational until the early 2030s [Relation] enable [Effect] gives us confidence",
    "valid": false
  },
  {
    "input": "While the COVID-19 pandemic has created headwinds in some industries that Twilio services such as ride-sharing and dining, this has been offset by tailwinds in areas such as food delivery and telehealth.",
    "output": "[Cause] the COVID-19 pandemic [Relation] offset [Effect] headwinds in some industries that Twilio services such as ride-sharing and dining",
    "gold": "[Cause] tailwinds in areas such as food delivery and telehealth [Relation] prevent [Effect] the COVID-19 pandemic has created headwinds in some industries that Twilio services",
    "valid": false
  },
  {
    "input": "Beyond the legal power of patents, even slightly differentiated technical features can cause an end user to prefer one tool over a similar tool in the company's precise scientific end markets, so we think those other intangible assets contribute to Illumina's competitive advantages, too.",
    "output": "[Cause] even slightly differentiated technical features can cause an end user to prefer one tool over a similar tool in the company's precise scientific end markets [Relation] cause [Effect] those other intangible assets contribute to Illumina's competitive advantages",
    "gold": "[Cause] slightly differentiated technical features [Relation] cause [Effect] an end user to prefer one tool over a similar tool in the company's precise scientific end markets",
    "valid": false
  },
  {
    "input": "Beyond the legal power of patents, even slightly differentiated technical features can cause an end user to prefer one tool over a similar tool in the company's precise scientific end markets, so we think those other intangible assets contribute to Illumina's competitive advantages, too.",
    "output": "[Cause] slightly differentiated technical features [Relation] cause [Effect] cause an end user to prefer one tool over a similar tool",
    "gold": "[Cause] even slightly differentiated technical features can cause an end user to prefer one tool over a similar tool in the company's precise scientific end markets [Relation] cause [Effect] those other intangible assets contribute to Illumina's competitive advantages, too",
    "valid": false
  },
  {
    "input": "Since Aduhelm gained approval based on one successful study, we believe the probability that donanemab will be approved is 85% based on the successful phase 2 Trailblazer study.",
    "output": "[Cause] Aduhelm gained approval based on one successful study [Relation] enable [Effect] we believe the probability that donanemab will be approved is 85% based on the successful phase 2 Trailblazer study",
    "gold": "[Cause] Aduhelm gained approval based on one successful study [Relation] cause [Effect] we believe the probability that donanemab will be approved is 85% based on the successful phase 2 Trailblazer study",
    "valid": true
  },
  {
    "input": "Lastly, fluid handling benefits from its large installed base because customers tend to be risk-averse and often replace products like-for-like.",
    "output": "[Cause] large installed base [Relation] enable [Effect] fluid handling benefits",
    "gold": "[Cause] fluid handling benefits from its large installed base [Relation] cause [Effect] customers tend to be risk-averse and often replace products like-for-like",
    "valid": false
  },
  {
    "input": "Because of the high concentrations of potassium in the brines and nitrates in the company's caliche ore, SQM also holds a cost-advantaged position in specialty fertilizers.",
    "output": "[Cause] high concentrations of potassium in the brines and nitrates in the company's caliche ore [Relation] cause [Effect] SQM holds a cost-advantaged position in specialty fertilizers",
    "gold": "[Cause] the high concentrations of potassium in the brines and nitrates in the company's caliche ore [Relation] enable [Effect] SQM also holds a cost-advantaged position in specialty fertilizers",
    "valid": false
  },
  {
    "input": "Due to the 10-nm delay, Intel remained on a 14-nm process first launched in 2014 and has been upgrading/optimizing the architecture in subsequent years to maintain healthy margins and garner the necessary chip performance improvements.",
    "output": "[Cause] the 10-nm delay [Relation] cause [Effect] Intel remained on a 14-nm process",
    "gold": "[Cause] the 10-nm delay, Intel remained on a 14-nm process first launched in 2014 and has been upgrading/optimizing the architecture in subsequent years [Relation] enable [Effect] maintain healthy margins and garner the necessary chip performance improvements",
    "valid": false
  },
  {
    "input": "We observe that in the past decade more stringent diesel environmental regulations have led to increased revenue and profitability for Cummins as it captures a large share of vehicle content.",
    "output": "[Cause] more stringent diesel environmental regulations [Relation] enable [Effect] increased revenue and profitability for Cummins",
    "gold": "[Cause] stringent diesel environmental regulations have [Relation] cause [Effect] increased revenue and profitability for Cummins",
    "valid": false
  },
  {
    "input": "Product positioning is particularly important in premiumizing markets because beer is often consumed in a social environment, particularly in the on-premise channel, so brand choice is fairly conspicuous.",
    "output": "[Cause] beer is often consumed in a social environment, particularly in the on-premise channel [Relation] cause [Effect] brand choice is fairly conspicuous",
    "gold": "[Cause] beer is often consumed in a social environment, particularly in the on-premise channel [Relation] cause [Effect] Product positioning is particularly important in premiumizing markets",
    "valid": false
  },
  {
    "input": "With video subscriptions in the cable industry declining with cord-cutting, we don't see Lumen's lack of that service as too problematic.",
    "output": "[Cause] video subscriptions in the cable industry declining with cord-cutting [Relation] minor or insignificant [Effect] Lumen's lack of that service",
    "gold": "[Cause] cord-cutting [Relation] cause [Effect] video subscriptions in the cable industry declining",
    "valid": false
  },
  {
    "input": "We expect 8% compound annual sales growth for ON through 2025, inclusive of supernormal 21% growth in 2021 as end markets rebound from the coronanvirus' effects in 2020.",
    "output": "[Cause] end markets rebound from the coronavirus' effects in 2020 [Relation] enable [Effect] supernormal 21% growth in 2021",
    "gold": "[Cause] end markets rebound from the coronanvirus' effects in 2020 [Relation] cause [Effect] 8% compound annual sales growth for ON through 2025, inclusive of supernormal 21% growth in 2021",
    "valid": false
  },
  {
    "input": "We contend that Williams-Sonoma's brand intangible asset has historically been the supporting factor in the firm's top- and bottom-line growth, as its ability to drive repeat business is widely reliant on customer loyalty and smart marketing and merchandising.",
    "output": "[Cause] Williams-Sonoma's brand intangible asset [Relation] enable [Effect] historically been the supporting factor in the firm's top- and bottom-line growth",
    "gold": "[Cause] its ability to drive repeat business is widely reliant on customer loyalty and smart marketing and merchandising [Relation] enable [Effect] Williams-Sonoma's brand intangible asset has historically been the supporting factor in the firm's top- and bottom-line growth",
    "valid": false
  },
  {
    "input": "We believe the ability to add technologies via subscriptions in the Palo Alto framework can alleviate complications by providing more holistic security, which can generate sustainable demand.",
    "output": "[Cause] ability to add technologies via subscriptions in the Palo Alto framework [Relation] enable [Effect] alleviate complications by providing more holistic security",
    "gold": "[Cause] providing more holistic security [Relation] enable [Effect] alleviate complications",
    "valid": false
  },
  {
    "input": "We believe the ability to add technologies via subscriptions in the Palo Alto framework can alleviate complications by providing more holistic security, which can generate sustainable demand.",
    "output": "[Cause] the ability to add technologies via subscriptions in the Palo Alto framework [Relation] enable [Effect] alleviate complications by providing more holistic security",
    "gold": "[Cause] the ability to add technologies via subscriptions in the Palo Alto framework [Relation] enable [Effect] generate sustainable demand",
    "valid": false
  },
  {
    "input": "Because of its reliance on acquisitions, Group 1 always faces the risk of overpaying for a dealership or taking on too much debt to finance new deals.",
    "output": "[Cause] its reliance on acquisitions [Relation] cause [Effect] Group 1 always faces the risk of overpaying for a dealership or taking on too much debt to finance new deals",
    "gold": "[Cause] its reliance on acquisitions [Relation] cause [Effect] Group 1 always faces the risk of overpaying for a dealership or taking on too much debt to finance new deals",
    "valid": true
  },
  {
    "input": "In an event, Virgin has a long lead time to grab market share in most of the country as customer speed demands ratchet higher.",
    "output": "[Cause] customer speed demands ratchet higher [Relation] cause [Effect] Virgin has a long lead time to grab market share in most of the country",
    "gold": "[Cause] customer speed demands ratchet higher [Relation] cause [Effect] Virgin has a long lead time to grab market share in most of the country",
    "valid": true
  },
  {
    "input": "Payments and other technology investments bleed over into the corporate payments space, where Wells' treasury and payments management platform has helped the bank maintain excellent share in the commercial market, particularly with middle-market business clients.",
    "output": "[Cause] Wells' treasury and payments management platform [Relation] enable [Effect] helped the bank maintain excellent share in the commercial market, particularly with middle-market business clients",
    "gold": "[Cause] Payments and other technology investments bleed over into the corporate payments space [Relation] enable [Effect] Wells' treasury and payments management platform has helped the bank maintain excellent share in the commercial market",
    "valid": false
  },
  {
    "input": "This makes a longer-term lease beneficial to the tenant, so the fact that most leases are typically 15 years in length with multiple extension options shows that the tenant has more power in negotiations.",
    "output": "[Cause] most leases are typically 15 years in length with multiple extension options [Relation] enable [Effect] the tenant has more power in negotiations",
    "gold": "[Cause] This makes a longer-term lease beneficial to the tenant [Relation] cause [Effect] most leases are typically 15 years in length with multiple extension options shows that the tenant has more power in negotiations",
    "valid": false
  },
  {
    "input": "PSEG is addressing New Jersey's aggressive clean energy goals with up to $15 billion of investment during the next five years to support clean energy, safety, and reliability.",
    "output": "[Cause] New Jersey's aggressive clean energy goals [Relation] enable [Effect] PSEG is addressing the goals with up to $15 billion of investment during the next five years",
    "gold": "[Cause] PSEG is addressing New Jersey's aggressive clean energy goals with up to $15 billion of investment during the next five years [Relation] enable [Effect] upport clean energy, safety, and reliability",
    "valid": false
  },
  {
    "input": "We expect Abbott can partially close the operating margin gap and project 450 basis points of improvement by 2024, as the firm leverages the distribution infrastructure it has built out for penetration of emerging markets across its product segments and extracts cost synergies from its recent acquisitions.",
    "output": "[Cause] leveraging the distribution infrastructure built out for penetration of emerging markets across its product segments and extracting cost synergies from recent acquisitions [Relation] enable [Effect] Abbott can partially close the operating margin gap and project 450 basis points of improvement by 2024",
    "gold": "[Cause] the firm leverages the distribution infrastructure it has built out for penetration of emerging markets [Relation] cause [Effect] Abbott can partially close the operating margin gap and project 450 basis points of improvement",
    "valid": false
  },
  {
    "input": "After reviewing Dover's 10-K and rolling our model, we raise our fair value estimate to $116 per share from $113, mostly due to slightly raising our midcycle margin, though this was offset by bringing down some of our organic revenue assumptions over the medium term.",
    "output": "[Cause] slightly raising our midcycle margin [Relation] cause [Effect] raise our fair value estimate to $116 per share from $113",
    "gold": "[Cause] bringing down some of our organic revenue assumptions over the medium term [Relation] cause [Effect] slightly raising our midcycle margin",
    "valid": false
  },
  {
    "input": "To have long-term success, Bio-Techne needs to maintain a dominant position in proteins, and at the same time expand its presence in genomics, without compromising on quality standards across the firm's large protein portfolio.",
    "output": "[Cause] Bio-Techne needs to maintain a dominant position in proteins, and at the same time expand its presence in genomics [Relation] enable [Effect] To have long-term success",
    "gold": "[Cause] compromising on quality standards across the firm's large protein portfolio [Relation] prevent [Effect] have long-term success",
    "valid": false
  },
  {
    "input": "To have long-term success, Bio-Techne needs to maintain a dominant position in proteins, and at the same time expand its presence in genomics, without compromising on quality standards across the firm's large protein portfolio.",
    "output": "[Cause] Bio-Techne maintaining a dominant position in proteins and expanding its presence in genomics, without compromising on quality standards [Relation] enable [Effect] long-term success",
    "gold": "[Cause] expand its presence in genomics [Relation] enable [Effect] have long-term success",
    "valid": false
  },
  {
    "input": "Martin Marietta's biggest ESG risks are around increased regulation of emissions in both its own production and the use of its products by customers, potential accusations of price collusion in local markets, and increased regulation of water usage in its production process.",
    "output": "[Cause] increased regulation of emissions in both its own production and the use of its products by customers, potential accusations of price collusion in local markets, and increased regulation of water usage in its production process [Relation] cause [Effect] Martin Marietta's biggest ESG risks",
    "gold": "[Cause] increased regulation of emissions in both its own production and the use of its products by customers, potential accusations of price collusion in local markets, and increased regulation of water usage in its production process [Relation] enable [Effect] Martin Marietta's biggest ESG risks",
    "valid": true
  },
  {
    "input": "Although we expect the company to expand its operating results, there are a few notable risks in the cybersecurity market, and Palo Alto's strategic efforts could inhibit our outlook.",
    "output": "[Cause] notable risks in the cybersecurity market [Relation] prevent [Effect] Palo Alto's strategic efforts could inhibit our outlook",
    "gold": "[Cause] Palo Alto's strategic efforts [Relation] prevent [Effect] our outlook",
    "valid": false
  },
  {
    "input": "Skilled services like these are generally provided under long-term agreements and has allowed Emerson to move from purely an equipment and traditional service business, to increasingly providing consulting services.",
    "output": "[Cause] Skilled services like these are generally provided under long-term agreements [Relation] enable [Effect] Emerson has moved from purely an equipment and traditional service business, to increasingly providing consulting services",
    "gold": "[Cause] Skilled services like these are generally provided under long-term agreements [Relation] enable [Effect] Emerson to move from purely an equipment and traditional service business, to increasingly providing consulting services",
    "valid": false
  },
  {
    "input": "We believe that Cooper's large advertising spending and salesforce mobilization is yet another cost that makes it unlikely for new competitors to attempt to enter the IUD space, especially when more lucrative options exist.",
    "output": "[Cause] Cooper's large advertising spending and salesforce mobilization [Relation] prevent [Effect] makes it unlikely for new competitors to attempt to enter the IUD space",
    "gold": "[Cause] Cooper's large advertising spending and salesforce mobilization [Relation] prevent [Effect] new competitors to attempt to enter the IUD space, especially when more lucrative options exist",
    "valid": false
  },
  {
    "input": "Furthermore, we suspect that many customers are holding on to their phones longer as premium devices are more than good enough for today's needs (web browsing, media streaming, social media) and potentially tomorrow's (virtual/augmented reality).",
    "output": "[Cause] premium devices are more than good enough for today's needs and potentially tomorrow's [Relation] cause [Effect] many customers are holding on to their phones longer",
    "gold": "[Cause] premium devices are more than good enough for today's needs (web browsing, media streaming, social media) and potentially tomorrow's (virtual/augmented reality). [Relation] enable [Effect] many customers are holding on to their phones longer",
    "valid": false
  },
  {
    "input": "The larger and more frequent the volume changes are, the less efficient the asset is, particularly when a barrel's destination can change from Corpus Christi to Cushing to the Gulf Coast, requiring incremental investment with a less certain long-term return.",
    "output": "[Cause] The larger and more frequent the volume changes are, the less efficient the asset is, particularly when a barrel's destination can change from Corpus Christi to Cushing to the Gulf Coast [Relation] cause [Effect] requiring incremental investment with a less certain long-term return",
    "gold": "[Cause] The larger and more frequent the volume changes [Relation] cause [Effect] the less efficient the asset is",
    "valid": false
  },
  {
    "input": "Reflecting solid third-quarter results (12% comparable growth), we are lifting our valuation of Dollar General to $181 per share from $177.",
    "output": "[Cause] solid third-quarter results (12% comparable growth) [Relation] cause [Effect] lifting our valuation of Dollar General to $181 per share",
    "gold": "[Cause] Reflecting solid third-quarter results (12% comparable growth) [Relation] enable [Effect] valuation of Dollar General to $181 per share from $177",
    "valid": false
  },
  {
    "input": "Gross renewable generation capacity is expected to grow from about 7 gigawatts today to 35 GW by 2025 as Total invests a minimum of $2 billion per year or about 15% of total spending from 2021.",
    "output": "[Cause] Total invests a minimum of $2 billion per year or about 15% of total spending from 2021 [Relation] cause [Effect] Gross renewable generation capacity is expected to grow from about 7 gigawatts today to 35 GW by 2025",
    "gold": "[Cause] Total invests a minimum of $2 billion per year or about 15% of total spending from 2021 [Relation] cause [Effect] Gross renewable generation capacity is expected to grow from about 7 gigawatts today to 35 GW by 2025",
    "valid": true
  },
  {
    "input": "With 3M's current lineup, we forecast the firm will increasingly direct its R&D and capital expenditures toward these divisions, which we conclude are higher-growing portions of GDP.",
    "output": "[Cause] we conclude these divisions are higher-growing portions of GDP [Relation] cause [Effect] 3M will increasingly direct its R&D and capital expenditures toward these divisions",
    "gold": "[Cause] the firm will increasingly direct its R&D and capital expenditures toward these divisions [Relation] cause [Effect] higher-growing portions of GDP",
    "valid": false
  },
  {
    "input": "Some of Xilinx's FPGAs are used extensively in communication equipment that may have operational lifetimes of at least a decade if not longer. Thus, it can not only be difficult for new entrants to gain market share but also less likely that existing customers defect from Altera to Xilinx or vice versa.",
    "output": "[Cause] Some of Xilinx's FPGAs are used extensively in communication equipment with long operational lifetimes [Relation] cause [Effect] Difficult for new entrants to gain market share",
    "gold": "[Cause] Some of Xilinx's FPGAs are used extensively in communication equipment that may have operational lifetimes of at least a decade if not longer [Relation] cause [Effect] it can not only be difficult for new entrants to gain market share but also less likely that existing customers defect from Altera to Xilinx or vice versa",
    "valid": false
  },
  {
    "input": "Hard parts are increasingly complex and can vary significantly depending on the model year and selected options on any vehicle.",
    "output": "[Cause] hard parts are increasingly complex and can vary significantly depending on the model year and selected options on any vehicle. [Relation] describe [Effect] N/A (no explicit effect mentioned)",
    "gold": "[Cause] the model year and selected options on any vehicle [Relation] cause [Effect] Hard parts are increasingly complex and can vary significantly",
    "valid": false
  },
  {
    "input": "Given the expense associated with chip design, the margin for error is virtually non-existent, as a result of which designers are more likely to prefer tools that they are comfortable utilizing and would lead to lower chance of them making a mistake.",
    "output": "[Cause] expense associated with chip design [Relation] cause [Effect] designers are more likely to prefer tools that they are comfortable utilizing and would lead to lower chances of them making a mistake",
    "gold": "[Cause] Given the expense associated with chip design, the margin for error is virtually non-existent [Relation] cause [Effect] designers are more likely to prefer tools that they are comfortable utilizing and would lead to lower chance of them making a mistake",
    "valid": false
  },
  {
    "input": "Longer term, even with store closures and updated merchandising tactics, we think it could be difficult to maintain consistent comp growth given the competitive nature of the home furnishing industry.",
    "output": "[Cause] the competitive nature of the home furnishing industry [Relation] cause [Effect] it could be difficult to maintain consistent comp growth",
    "gold": "[Cause] the competitive nature of the home furnishing industry [Relation] cause [Effect] it could be difficult to maintain consistent comp growth",
    "valid": true
  },
  {
    "input": "Nevertheless, after an inorganic double-digit decline in 2022 due to the portfolio transition, we expect 3%-4% growth for this business throughout our forecast.",
    "output": "[Cause] inorganic double-digit decline in 2022 due to the portfolio transition [Relation] cause [Effect] expect 3%-4% growth for this business throughout our forecast",
    "gold": "[Cause] the portfolio transition [Relation] cause [Effect] an inorganic double-digit decline in 2022",
    "valid": false
  },
  {
    "input": "Overall, net sales per unit in the Malibu segment have increased 33% since 2016, driven primarily by customer acquisition of more expensive models and by add-on features such as Surf Gate.",
    "output": "[Cause] customer acquisition of more expensive models and by add-on features such as Surf Gate [Relation] cause [Effect] net sales per unit in the Malibu segment have increased 33% since 2016",
    "gold": "[Cause] customer acquisition of more expensive models and by add-on features such as Surf Gate [Relation] cause [Effect] net sales per unit in the Malibu segment have increased 33% since 2016",
    "valid": true
  },
  {
    "input": "ICE's equity trading is likely to continue to face stiff headwinds as new competitors and alternative liquidity providers encroach on the New York Stock Exchange.",
    "output": "[Cause] new competitors and alternative liquidity providers encroach on the New York Stock Exchange [Relation] cause [Effect] ICE's equity trading is likely to continue to face stiff headwinds",
    "gold": "[Cause] new competitors and alternative liquidity providers encroach on the New York Stock Exchange [Relation] enable [Effect] ICE's equity trading is likely to continue to face stiff headwinds",
    "valid": true
  },
  {
    "input": "We think that Mint has lower switching costs than TurboTax, given that it pertains to something less imperative than taxes, which is checking up on one's financial health.",
    "output": "[Cause] Mint pertains to something less imperative than taxes, which is checking up on one's financial health. [Relation] cause [Effect] Mint has lower switching costs than TurboTax",
    "gold": "[Cause] it pertains to something less imperative than taxes, which is checking up on one's financial health [Relation] cause [Effect] Mint has lower switching costs than TurboTax",
    "valid": false
  },
  {
    "input": "Paychex's customers will hire employees for their HR departments; however, the employee will actually be technically employed by Paychex. This way, smaller employers can access better rates for insurance and health benefits that Paychex can access as a larger employer.",
    "output": "[Cause] Paychex's customers hiring employees for their HR departments [Relation] enable [Effect] the employees being technically employed by Paychex",
    "gold": "[Cause] Paychex's customers will hire employees for their HR departments; however, the employee will actually be technically employed by Paychex [Relation] cause [Effect] smaller employers can access better rates for insurance and health benefits that Paychex can access as a larger employer",
    "valid": false
  },
  {
    "input": "Even so, premium brands such as Mercedes-Benz limit exposure to downturns suffered by mass-market auto companies because wealthier customers' spending is less sensitive to recessions.",
    "output": "[Cause] wealthier customers' spending is less sensitive to recessions [Relation] prevent [Effect] premium brands such as Mercedes-Benz limit exposure to downturns suffered by mass-market auto companies",
    "gold": "[Cause] wealthier customers' spending is less sensitive to recessions [Relation] cause [Effect] premium brands such as Mercedes-Benz limit exposure to downturns suffered by mass-market auto companies",
    "valid": true
  },
  {
    "input": "Outside of its exchanges and their associated revenue streams, Nasdaq has built broad product offerings in the corporate services and investment analytics spaces using a combination of acquisitions and organic investments.",
    "output": "[Cause] Nasdaq has built broad product offerings in the corporate services and investment analytics spaces [Relation] enable [Effect] using a combination of acquisitions and organic investments",
    "gold": "[Cause] a combination of acquisitions and organic investments [Relation] enable [Effect] Nasdaq has built broad product offerings in the corporate services and investment analytics spaces",
    "valid": false
  },
  {
    "input": "Larger case volumes per store help food distributors manage delivery costs per case, particularly with expensive last-mile delivery, while in-house technological capabilities offer chains the advantage of paying for food products without added services such as inventory management, promotional strategies, or consulting services.",
    "output": "[Cause] Larger case volumes per store [Relation] enable [Effect] help food distributors manage delivery costs per case",
    "gold": "[Cause] in-house technological capabilities [Relation] enable [Effect] the advantage of paying for food products without added services such as inventory management, promotional strategies, or consulting services",
    "valid": false
  },
  {
    "input": "Given the growth we see from growing mass gambling and nongaming activity, we project Macao EBITDA margins to remain steady at 36.5% in 2030 from 36.1% in 2019, despite higher expected license-renewal fees beginning in 2022.",
    "output": "[Cause] growth from growing mass gambling and nongaming activity [Relation] enable [Effect] Macao EBITDA margins to remain steady at 36.5% in 2030 from 36.1% in 2019",
    "gold": "[Cause] the growth we see from growing mass gambling and nongaming activity [Relation] cause [Effect] we project Macao EBITDA margins to remain steady at 36.5% in 2030 from 36.1% in 2019",
    "valid": false
  },
  {
    "input": "We expect opportunities for cost-cutting resulting from recent acquisitions, but unpredictable economic and competitive challenges in certain markets will likely introduce volatility and keep margin improvements modest.",
    "output": "[Cause] opportunities for cost-cutting resulting from recent acquisitions [Relation] enable [Effect] margin improvements will likely be modest",
    "gold": "[Cause] unpredictable economic and competitive challenges in certain markets [Relation] cause [Effect] introduce volatility and keep margin improvements modest",
    "valid": false
  },
  {
    "input": "In periods of tight supply and favorable pricing, Seagate can earn excess returns on invested capital, but when the market hits oversupply, pricing falls, bringing Seagate's economic profits with it.",
    "output": "[Cause] periods of tight supply and favorable pricing [Relation] enable [Effect] Seagate can earn excess returns on invested capital",
    "gold": "[Cause] the market hits oversupply, pricing falls [Relation] cause [Effect] Seagate's economic profits with it",
    "valid": false
  },
  {
    "input": "The retail services unit (just over 35% of revenue) should benefit from premiumization and rising vehicle complexity, with a return to low-double-digit same-store sales growth systemwide as the pandemic eases (after 2% expansion in fiscal 2020 as the pandemic depressed traffic).",
    "output": "[Cause] premiumization and rising vehicle complexity [Relation] enable [Effect] The retail services unit should benefit",
    "gold": "[Cause] the pandemic eases [Relation] enable [Effect] The retail services unit (just over 35% of revenue) should benefit from premiumization and rising vehicle complexity, with a return to low-double-digit same-store sales growth systemwide",
    "valid": false
  },
  {
    "input": "The sale of Alliance Data Systems' Epsilon has placed even more pressure on this business structure as it depleted the asset base at the parent level and left Card Services as the dominant source of income for the firm.",
    "output": "[Cause] The sale of Alliance Data Systems' Epsilon [Relation] cause [Effect] placed even more pressure on this business structure as it depleted the asset base at the parent level and left Card Services as the dominant source of income for the firm",
    "gold": "[Cause] it depleted the asset base at the parent level and left Card Services as the dominant source of income for the firm [Relation] cause [Effect] The sale of Alliance Data Systems' Epsilon has placed even more pressure on this business structure",
    "valid": false
  },
  {
    "input": "If enterprise software experienced significant downtime or suffered a poor software release, or if a company's servers were not properly maintained or well balanced in terms of loads, a company could bear immense costs.",
    "output": "[Cause] enterprise software experiencing significant downtime or suffering a poor software release, or a company's servers not being properly maintained or well balanced in terms of loads [Relation] cause [Effect] a company could bear immense costs",
    "gold": "[Cause] enterprise software experienced significant downtime or suffered a poor software release [Relation] cause [Effect] a company could bear immense costs",
    "valid": false
  },
  {
    "input": "If enterprise software experienced significant downtime or suffered a poor software release, or if a company's servers were not properly maintained or well balanced in terms of loads, a company could bear immense costs.",
    "output": "[Cause] enterprise software experienced significant downtime or suffered a poor software release or company's servers were not properly maintained or well balanced in terms of loads [Relation] cause [Effect] a company could bear immense costs",
    "gold": "[Cause] a company's servers were not properly maintained or well balanced in terms of loads [Relation] cause [Effect] a company could bear immense costs",
    "valid": false
  },
  {
    "input": "We see some evidence of customer switching costs as technicians become familiar with Matco's platform, and we expect the firm's SaaS-based offerings to help increase the business' recurring revenue stream and increase customer stickiness in the long run.",
    "output": "[Cause] technicians becoming familiar with Matco's platform [Relation] cause [Effect] evidence of customer switching costs",
    "gold": "[Cause] technicians become familiar with Matco's platform [Relation] cause [Effect] We see some evidence of customer switching costs",
    "valid": false
  },
  {
    "input": "We see some evidence of customer switching costs as technicians become familiar with Matco's platform, and we expect the firm's SaaS-based offerings to help increase the business' recurring revenue stream and increase customer stickiness in the long run.",
    "output": "[Cause] technicians become familiar with Matco's platform [Relation] cause [Effect] evidence of customer switching costs",
    "gold": "[Cause] the firm's SaaS-based offerings [Relation] enable [Effect] increase the business' recurring revenue stream and increase customer stickiness in the long run",
    "valid": false
  },
  {
    "input": "Beverage concentrates sales constitute 13% of revenue but roughly 30% of operating income, and the reality is that the structurally higher margins and lower capital intensity of this segment contribute materially to Keurig Dr Pepper's excess returns.",
    "output": "[Cause] structurally higher margins and lower capital intensity of the beverage concentrates segment [Relation] enable [Effect] contribute materially to Keurig Dr Pepper's excess returns",
    "gold": "[Cause] structurally higher margins and lower capital intensity of this segment [Relation] enable [Effect] contribute materially to Keurig Dr Pepper's excess returns",
    "valid": false
  },
  {
    "input": "This ability of users to customize their Nice products and generate personalized analytics and integrations is likely to attract new customers, which in turn will attract new developers as they can reach a wider audience.",
    "output": "[Cause] ability of users to customize their Nice products and generate personalized analytics and integrations [Relation] enable [Effect] likely to attract new customers",
    "gold": "[Cause] they can reach a wider audience [Relation] enable [Effect] attract new developers",
    "valid": false
  },
  {
    "input": "The company has a history of goodwill and fixed-asset impairments, so book value could decline if a large impairment is taken.",
    "output": "[Cause] The company has a history of goodwill and fixed-asset impairments [Relation] cause [Effect] book value could decline if a large impairment is taken",
    "gold": "[Cause] The company has a history of goodwill and fixed-asset impairments [Relation] cause [Effect] book value could decline if a large impairment is taken",
    "valid": true
  },
  {
    "input": "Regulations on its products, such as a ban on certain chemicals, represent a risk to Scotts, as it would have to reformulate products.",
    "output": "[Cause] Regulations on its products, such as a ban on certain chemicals [Relation] pose a risk [Effect] Scotts would have to reformulate products",
    "gold": "[Cause] it would have to reformulate products [Relation] cause [Effect] Regulations on its products, such as a ban on certain chemicals, represent a risk to Scotts",
    "valid": false
  },
  {
    "input": "In fact, we believe the primary reason states outsource to managed-care providers relates to the structural cost advantage managed-care plans typically have over the traditional Medicaid fee-for-service plans.",
    "output": "[Cause] the structural cost advantage managed-care plans typically have over the traditional Medicaid fee-for-service plans [Relation] cause [Effect] states outsource to managed-care providers",
    "gold": "[Cause] the structural cost advantage managed-care plans typically have over the traditional Medicaid fee-for-service plans [Relation] cause [Effect] states outsource to managed-care providers",
    "valid": true
  },
  {
    "input": "Texas legislation also passed in 2015 virtually eliminates regulatory lag by allowing rate adjustments for capital investments 30 days prospectively and 155 days retroactively.",
    "output": "[Cause] Texas legislation passed in 2015 virtually eliminates regulatory lag by allowing rate adjustments for capital investments 30 days prospectively and 155 days retroactively. [Relation] enable [Effect] regulatory lag is virtually eliminated",
    "gold": "[Cause] rate adjustments for capital investments 30 days prospectively and 155 days retroactively [Relation] enable [Effect] eliminates regulatory lag",
    "valid": false
  },
  {
    "input": "We believe that the demand for snowmobiles will be tempered by a lengthy product replacement cycle, but that the leading market constituent should be able to deliver the best new product and take price.",
    "output": "[Cause] a lengthy product replacement cycle [Relation] mitigate [Effect] the demand for snowmobiles will be tempered",
    "gold": "[Cause] the leading market constituent should be able to deliver the best new product and take price [Relation] prevent [Effect] the demand for snowmobiles will be tempered by a lengthy product replacement cycle",
    "valid": false
  },
  {
    "input": "The next nine partners make up about 30% of revenue, and any bankruptcy among them would create pressure on the company.",
    "output": "[Cause] bankruptcy among the next nine partners [Relation] cause [Effect] create pressure on the company",
    "gold": "[Cause] The next nine partners make up about 30% of revenue, and any bankruptcy among them [Relation] cause [Effect] pressure on the company",
    "valid": false
  },
  {
    "input": "In addition, we believe that dominate players such as TAL should continue to gain market share due to its innovation, scales, and teacher quality with standardized facilities and teaching materials.",
    "output": "[Cause] dominance players such as TAL continue to gain market share [Relation] cause [Effect] innovation, scales, and teacher quality with standardized facilities and teaching materials",
    "gold": "[Cause] its innovation, scales, and teacher quality with standardized facilities and teaching materials [Relation] cause [Effect] dominate players such as TAL should continue to gain market share",
    "valid": false
  },
  {
    "input": "Rebuilt North American and European herds should give way to higher slaughter rates in the coming years, boosting the amount of resin packaging sold by Sealed Air.",
    "output": "[Cause] Rebuilt North American and European herds [Relation] enable [Effect] higher slaughter rates in the coming years",
    "gold": "[Cause] give way to higher slaughter rates in the coming years [Relation] enable [Effect] boosting the amount of resin packaging sold by Sealed Air",
    "valid": false
  },
  {
    "input": "As a result of the competitive gaming markets it competes in, Caesars' 6.3% return on invested capital including goodwill on average the past three prepandemic years (2017-19) sits below its 8.7% weighted average cost of capital, supporting our stance that it has failed to carve out an edge.",
    "output": "[Cause] the competitive gaming markets it competes in [Relation] cause [Effect] Caesars' 6.3% return on invested capital including goodwill on average the past three prepandemic years (2017-19) sits below its 8.7% weighted average cost of capital",
    "gold": "[Cause] the competitive gaming markets it competes in [Relation] cause [Effect] Caesars' 6.3% return on invested capital including goodwill on average the past three prepandemic years (2017-19) sits below its 8.7% weighted average cost of capital",
    "valid": true
  },
  {
    "input": "As a result of the competitive gaming markets it competes in, Caesars' 6.3% return on invested capital including goodwill on average the past three prepandemic years (2017-19) sits below its 8.7% weighted average cost of capital, supporting our stance that it has failed to carve out an edge.",
    "output": "[Cause] the competitive gaming markets it competes in [Relation] cause [Effect] Caesars' 6.3% return on invested capital including goodwill on average the past three prepandemic years sits below its 8.7% weighted average cost of capital",
    "gold": "[Cause] the competitive gaming markets it competes in [Relation] enable [Effect] supporting our stance that it has failed to carve out an edge",
    "valid": false
  },
  {
    "input": "Exxon's upstream greenhouse gas intensity is rather high for its peer group at 38 kg CO2e/boe (2019) by our estimates due to its oil sands operations, making it a higher-cost producer.",
    "output": "[Cause] Exxon's upstream greenhouse gas intensity is rather high for its peer group at 38 kg CO2e/boe (2019) by our estimates due to its oil sands operations [Relation] cause [Effect] making it a higher-cost producer",
    "gold": "[Cause] its oil sands operations, making it a higher-cost producer [Relation] cause [Effect] Exxon's upstream greenhouse gas intensity is rather high for its peer group at 38 kg CO2e/boe (2019) by our estimates",
    "valid": false
  },
  {
    "input": "We expect that COVID-19 will result in catastrophic 2020 results for Kohl's, as we forecast a sales decline of 20% and an adjusted EBITDA drop of more than 75%.",
    "output": "[Cause] COVID-19 [Relation] cause [Effect] catastrophic 2020 results for Kohl's (sales decline of 20% and adjusted EBITDA drop of more than 75%)",
    "gold": "[Cause] we forecast a sales decline of 20% and an adjusted EBITDA drop of more than 75% [Relation] cause [Effect] COVID-19 will result in catastrophic 2020 results for Kohl's",
    "valid": false
  },
  {
    "input": "It is much more efficient for customers to trade two different equity index futures on the same exchange as this allows futures traders to net their positions out when posting collateral.",
    "output": "[Cause] trading two different equity index futures on the same exchange [Relation] enable [Effect] allows futures traders to net their positions out when posting collateral",
    "gold": "[Cause] this allows futures traders to net their positions out when posting collateral [Relation] cause [Effect] It is much more efficient for customers to trade two different equity index futures on the same exchange",
    "valid": false
  },
  {
    "input": "A slowdown in the real estate market, which could be indicated by increased home inventories for sale or slower growth in new- or used-home prices, could alter the wealth effect on consumers and cause them to spend less on replacing goods in their homes.",
    "output": "[Cause] A slowdown in the real estate market, indicated by increased home inventories for sale or slower growth in new- or used-home prices [Relation] cause [Effect] alter the wealth effect on consumers and cause them to spend less on replacing goods in their homes",
    "gold": "[Cause] A slowdown in the real estate market, which could be indicated by increased home inventories for sale or slower growth in new- or used-home prices [Relation] cause [Effect] spend less on replacing goods in their homes",
    "valid": false
  },
  {
    "input": "That said, since NXP is based in the Netherlands, NXP might even be a beneficiary if China were to avoid using U.S.-based MCUs in the future.",
    "output": "[Cause] NXP is based in the Netherlands [Relation] enable [Effect] NXP might even be a beneficiary if China were to avoid using U.S.-based MCUs in the future",
    "gold": "[Cause] China were to avoid using U.S.-based MCUs in the future [Relation] cause [Effect] NXP might even be a beneficiary",
    "valid": false
  },
  {
    "input": "That said, since NXP is based in the Netherlands, NXP might even be a beneficiary if China were to avoid using U.S.-based MCUs in the future.",
    "output": "[Cause] NXP is based in the Netherlands [Relation] cause [Effect] NXP might be a beneficiary if China were to avoid using U.S.-based MCUs in the future",
    "gold": "[Cause] NXP is based in the Netherlands [Relation] enable [Effect] NXP might even be a beneficiary",
    "valid": false
  },
  {
    "input": "We increased our projections for cancer drug Loxo-305 and diabetes drug tirzepatide based on strong clinical data and Lilly's solid commitment to developing the drugs in phase 3.",
    "output": "[Cause] strong clinical data and Lilly's solid commitment to developing the drugs in phase 3 [Relation] cause [Effect] increased projections for cancer drug Loxo-305 and diabetes drug tirzepatide",
    "gold": "[Cause] We increased our projections for cancer drug Loxo-305 and diabetes drug tirzepatide [Relation] enable [Effect] strong clinical data and Lilly's solid commitment to developing the drugs in phase 3",
    "valid": false
  },
  {
    "input": "We expect the Internet of Things segment to increase by an average of 11% over the duration of our forecast with touch, display, audio and video solutions proliferating in smart homes, automotive, and future devices like AR and VR headsets.",
    "output": "[Cause] touch, display, audio and video solutions proliferating in smart homes, automotive, and future devices like AR and VR headsets [Relation] enable [Effect] the Internet of Things segment to increase by an average of 11% over the duration of our forecast",
    "gold": "[Cause] touch, display, audio and video solutions proliferating in smart homes, automotive, and future devices like AR and VR headsets [Relation] cause [Effect] the Internet of Things segment to increase by an average of 11% over the duration of our forecast",
    "valid": true
  },
  {
    "input": "Zebra has also relied on hefty R&D investment and add-on acquisitions to fuel top-line growth and stave off competition; any slowdown in these activities could open the firm up to a greater competitive threat.",
    "output": "[Cause] slowdown in R&D investment and add-on acquisitions [Relation] cause [Effect] open the firm up to a greater competitive threat",
    "gold": "[Cause] Zebra has also relied on hefty R&D investment and add-on acquisitions [Relation] enable [Effect] fuel top-line growth and stave off competition",
    "valid": false
  },
  {
    "input": "Zebra has also relied on hefty R&D investment and add-on acquisitions to fuel top-line growth and stave off competition; any slowdown in these activities could open the firm up to a greater competitive threat.",
    "output": "[Cause] slowdown in R&D investment and add-on acquisitions [Relation] enable [Effect] open the firm up to a greater competitive threat",
    "gold": "[Cause] any slowdown in these activities [Relation] cause [Effect] open the firm up to a greater competitive threat",
    "valid": false
  },
  {
    "input": "Because of lower revenue, IT-related investments, and recent pressure on gross margins (net revenue/gross revenue) linked in part to rising buy rates for capacity, we look for Hub's adjusted 2020 EBIT margin to fall 90 basis points to 3.2%.",
    "output": "[Cause] lower revenue, IT-related investments, and recent pressure on gross margins (net revenue/gross revenue) linked in part to rising buy rates for capacity [Relation] cause [Effect] Hub's adjusted 2020 EBIT margin to fall 90 basis points to 3.2%",
    "gold": "[Cause] lower revenue, IT-related investments, and recent pressure on gross margins (net revenue/gross revenue) linked in part to rising buy rates for capacity [Relation] cause [Effect] Hub's adjusted 2020 EBIT margin to fall 90 basis points to 3.2%",
    "valid": true
  },
  {
    "input": "Previously, Pfizer accounted for a third of Icon's revenue, but it now represents about 12% of revenue, and we expect this to continue to decline as diversification remains a top priority for the firm.",
    "output": "[Cause] diversification remains a top priority for the firm [Relation] cause [Effect] Pfizer now represents about 12% of revenue",
    "gold": "[Cause] diversification remains a top priority for the firm [Relation] cause [Effect] Pfizer accounted for a third of Icon's revenue, but it now represents about 12% of revenue, and we expect this to continue to decline",
    "valid": false
  },
  {
    "input": "In markets and product categories that Tractor Supply overlaps with other big-box retailers (Lowe's, PetSmart, Walmart), we think the company could be forced to be a price taker, which could weigh on local profits.",
    "output": "[Cause] Tractor Supply overlaps with other big-box retailers (Lowe's, PetSmart, Walmart) [Relation] cause [Effect] the company could be forced to be a price taker",
    "gold": "[Cause] the company could be forced to be a price taker [Relation] cause [Effect] weigh on local profits",
    "valid": false
  },
  {
    "input": "The channels remain well behind ESPN in terms of total audience but have made inroads as the predecessor firm spent money on sport rights including MLB, college football, college basketball, and soccer (World Cup, MLS, and Bundesliga).",
    "output": "[Cause] spending money on sport rights including MLB, college football, college basketball, and soccer (World Cup, MLS, and Bundesliga) [Relation] enable [Effect] The channels have made inroads",
    "gold": "[Cause] the predecessor firm spent money on sport rights including MLB, college football, college basketball, and soccer (World Cup, MLS, and Bundesliga) [Relation] enable [Effect] have made inroads",
    "valid": false
  },
  {
    "input": "We expect the company to produce fairly strong underwriting results in the near term, as it benefits from recent pricing increases and the impact of the coronavirus, but to revert toward historical results over time.",
    "output": "[Cause] recent pricing increases and the impact of the coronavirus [Relation] enable [Effect] expect the company to produce fairly strong underwriting results in the near term",
    "gold": "[Cause] We expect the company to produce fairly strong underwriting results in the near term [Relation] enable [Effect] as it benefits from recent pricing increases and the impact of the coronavirus",
    "valid": false
  },
  {
    "input": "Its progress should be accelerated by partnerships (with Ocado, Walgreens, Microsoft, and others) that we do not believe are available to smaller rivals because they cannot deliver the same value to counterparts.",
    "output": "[Cause] partnerships with Ocado, Walgreens, Microsoft, and others [Relation] enable [Effect] progress should be accelerated",
    "gold": "[Cause] they cannot deliver the same value to counterparts [Relation] cause [Effect] we do not believe are available to smaller rivals",
    "valid": false
  },
  {
    "input": "Gathering and processing volumes across the Rockies and midcontinent fell 18%-20% in the second quarter of 2020, and while volumes have recovered in late 2020, the sharp decline demonstrates the challenging basin economics for producers and thus volume security for Oneok.",
    "output": "[Cause] the challenging basin economics for producers [Relation] cause [Effect] sharp decline in gathering and processing volumes",
    "gold": "[Cause] Gathering and processing volumes across the Rockies and midcontinent fell 18%-20% in the second quarter of 2020 [Relation] cause [Effect] the challenging basin economics for producers and thus volume security for Oneok",
    "valid": false
  },
  {
    "input": "In the domestic market, the strategic focus is to uphold TI's premium position by optimizing the quality of operations and capital investments.",
    "output": "[Cause] strategic focus is to uphold TI's premium position [Relation] enable [Effect] optimize the quality of operations and capital investments",
    "gold": "[Cause] optimizing the quality of operations and capital investments [Relation] enable [Effect] the strategic focus is to uphold TI's premium position",
    "valid": false
  },
  {
    "input": "We increased our fair value estimate to $81 per share from $80 per share as Dominion begins to implement its long-term plan to comply with Virginia's Clean Energy Act.",
    "output": "[Cause] Dominion begins to implement its long-term plan to comply with Virginia's Clean Energy Act [Relation] cause [Effect] We increased our fair value estimate to $81 per share from $80 per share",
    "gold": "[Cause] Dominion begins to implement its long-term plan to comply with Virginia's Clean Energy Act [Relation] enable [Effect] We increased our fair value estimate to $81 per share from $80 per share",
    "valid": true
  },
  {
    "input": "But even in the face of this cost pressure, we don't anticipate Colgate will turn off the spigot on its brand spend, which we view as particularly vital given the competitive landscape in which it plays. As such, we forecast it will expend around 13% of sales (or more than $2.6 billion) annually on research, development, and marketing over our explicit forecast, which we view as a prudent means to support is competitive prowess (including its entrenched standing with dentists, veterinarians, and dermatologists).",
    "output": "[Cause] the competitive landscape in which Colgate plays [Relation] cause [Effect] Colgate will continue to spend on research, development, and marketing",
    "gold": "[Cause] we don't anticipate Colgate will turn off the spigot on its brand spend, which we view as particularly vital given the competitive landscape in which it plays [Relation] cause [Effect] it will expend around 13% of sales (or more than $2.6 billion) annually on research, development, and marketing over our explicit forecast, which we view as a prudent means to support is competitive prowess (including its entrenched standing with dentists, veterinarians, and dermatologists)",
    "valid": false
  },
  {
    "input": "That said, we like Yum China's ability to compete during a period of heightened price competition, given its meaningful supply-chain advantages, as well as its marketing, value proposition, and digital engagement measures.",
    "output": "[Cause] Yum China's meaningful supply-chain advantages, as well as its marketing, value proposition, and digital engagement measures [Relation] enable [Effect] Yum China's ability to compete during a period of heightened price competition",
    "gold": "[Cause] its meaningful supply-chain advantages, as well as its marketing, value proposition, and digital engagement measures [Relation] enable [Effect] we like Yum China's ability to compete during a period of heightened price competition",
    "valid": false
  },
  {
    "input": "On an individual basis, we would be happy owners of any of Smiths Group's disparate divisions, as they are all strong industry-leading niche businesses, each producing admirable margins and returns.",
    "output": "[Cause] each division being strong industry-leading niche businesses, producing admirable margins and returns [Relation] enable [Effect] we would be happy owners of any of Smiths Group's disparate divisions",
    "gold": "[Cause] they are all strong industry-leading niche businesses [Relation] cause [Effect] we would be happy owners of any of Smiths Group's disparate divisions",
    "valid": false
  },
  {
    "input": "This rivalry pits farmers on opposite sides, which we believe makes it highly unlikely for a 'Red' equipment owner to purchase a 'Green' piece of equipment.",
    "output": "[Cause] rivalry between farmers on opposite sides [Relation] prevent [Effect] it is highly unlikely for a 'Red' equipment owner to purchase a 'Green' piece of equipment",
    "gold": "[Cause] This rivalry pits farmers on opposite sides [Relation] cause [Effect] it highly unlikely for a 'Red' equipment owner to purchase a 'Green' piece of equipment",
    "valid": false
  },
  {
    "input": "And Victoria's Secret could have to continue to drive in-store traffic with price and promotions after COVID-19 as consumer behavior around brick-and-mortar retailing shifts. These concerns have tempered our forecasts for consolidated gross and operating margins averaging 38% and 11%, respectively, over the next decade versus 39% and 14% over the past five years.",
    "output": "[Cause] consumer behavior around brick-and-mortar retailing shifts [Relation] enable [Effect] Victoria's Secret could have to continue to drive in-store traffic with price and promotions after COVID-19",
    "gold": "[Cause] And Victoria's Secret could have to continue to drive in-store traffic with price and promotions after COVID-19 as consumer behavior around brick-and-mortar retailing shifts [Relation] cause [Effect] tempered our forecasts for consolidated gross and operating margins averaging 38% and 11%, respectively, over the next decade versus 39% and 14% over the past five years",
    "valid": false
  },
  {
    "input": "Some of this impact may be offset by quarantined consumers' desire to get out of the house, but we now project that it will take until 2022 for Live Nation to return to 2019 levels. As a result, we now project that 2020 revenue will collapse to $2.1 billion, down 82% from 2019, and will only rebound to $8.5 billion by 2021, or 27% below 2019.",
    "output": "[Cause] quarantined consumers' desire to get out of the house [Relation] offset [Effect] Live Nation's projected return to 2019 levels by 2022",
    "gold": "[Cause] Some of this impact may be offset by quarantined consumers' desire to get out of the house, but we now project that it will take until 2022 for Live Nation to return to 2019 levels [Relation] cause [Effect] 2020 revenue will collapse to $2.1 billion, down 82% from 2019, and will only rebound to $8.5 billion by 2021, or 27% below 2019",
    "valid": false
  },
  {
    "input": "Although most dealerships are good businesses, we think the large publicly traded dealers are best positioned for growth since these firms can be the most flexible in changing brand mix, and their growing size means they can achieve working-capital efficiencies by moving inventory around their store base.",
    "output": "[Cause] large publicly traded dealers are best positioned for growth [Relation] enable [Effect] can be the most flexible in changing brand mix, and their growing size means they can achieve working-capital efficiencies by moving inventory around their store base",
    "gold": "[Cause] these firms can be the most flexible in changing brand mix, and their growing size means they can achieve working-capital efficiencies by moving inventory around their store base [Relation] cause [Effect] the large publicly traded dealers are best positioned for growth",
    "valid": false
  },
  {
    "input": "Nike's brands have proven staying power, supporting our view that it can continue to earn economic profits for at least the next 20 years.",
    "output": "[Cause] Nike's brands have proven staying power [Relation] support [Effect] it can continue to earn economic profits for at least the next 20 years",
    "gold": "[Cause] Nike's brands have proven staying power [Relation] cause [Effect] it can continue to earn economic profits for at least the next 20 years",
    "valid": true
  },
  {
    "input": "Eastman's continual innovation of its Crystex and Impera brands allow the company to charge a premium as its newest patented products allow tire manufacturers to meet the pending regulations in all three areas.",
    "output": "[Cause] Eastman's continual innovation of its Crystex and Impera brands [Relation] enable [Effect] allow the company to charge a premium",
    "gold": "[Cause] its newest patented products allow tire manufacturers to meet the pending regulations in all three areas [Relation] cause [Effect] Eastman's continual innovation of its Crystex and Impera brands allow the company to charge a premium",
    "valid": false
  },
  {
    "input": "However, during this extended economic cycle, we have seen rate growth decelerate as hotels have approached the occupancy peak.",
    "output": "[Cause] hotels have approached the occupancy peak [Relation] cause [Effect] rate growth decelerate",
    "gold": "[Cause] hotels have approached the occupancy peak [Relation] enable [Effect] rate growth decelerate",
    "valid": true
  },
  {
    "input": "In 2021, AES estimates that a 10% increase in coal or natural gas would reduce earnings by less than $0.005 per share.",
    "output": "[Cause] a 10% increase in coal or natural gas [Relation] cause [Effect] reduce earnings by less than $0.005 per share",
    "gold": "[Cause] a 10% increase in coal or natural gas [Relation] cause [Effect] reduce earnings by less than $0.005 per share",
    "valid": true
  },
  {
    "input": "Albemarle has a cost advantage in lithium carbonate production due to its lucrative brine assets in the Salar de Atacama in Chile, which make up approximately 80% of its lithium profits.",
    "output": "[Cause] Albemarle's lucrative brine assets in the Salar de Atacama in Chile [Relation] enable [Effect] cost advantage in lithium carbonate production",
    "gold": "[Cause] its lucrative brine assets in the Salar de Atacama in Chile [Relation] cause [Effect] Albemarle has a cost advantage in lithium carbonate production",
    "valid": false
  },
  {
    "input": "We look for robust truck-brokerage market conditions to persist throughout most of 2021, especially in terms of a strong late 2020/early 2021 contract bidding season (rate recovery), which is benefiting from extremely tight TL supply.",
    "output": "[Cause] extremely tight TL supply [Relation] cause [Effect] robust truck-brokerage market conditions to persist throughout most of 2021, strong late 2020/early 2021 contract bidding season (rate recovery)",
    "gold": "[Cause] We look for robust truck-brokerage market conditions to persist throughout most of 2021, especially in terms of a strong late 2020/early 2021 contract bidding season (rate recovery) [Relation] enable [Effect] benefiting from extremely tight TL supply",
    "valid": false
  },
  {
    "input": "We think Ultamate and the Ulta-branded credit cards provide customer data (used in merchandising and marketing efforts) and encourage store visitation.",
    "output": "[Cause] Ultamate and the Ulta-branded credit cards provide customer data (used in merchandising and marketing efforts) [Relation] cause [Effect] customer data used in merchandising and marketing efforts",
    "gold": "[Cause] Ultamate and the Ulta-branded credit cards [Relation] enable [Effect] encourage store visitation| provide customer data",
    "valid": false
  },
  {
    "input": "Moreover, due to operating cost cuts, its selling, general, and administrative expenses rose only 2.9% in 2020, leading to an operating margin of 7.7%, up 340 basis points from 2019.",
    "output": "[Cause] operating cost cuts [Relation] cause [Effect] selling, general, and administrative expenses rose only 2.9% in 2020",
    "gold": "[Cause] operating cost cuts [Relation] cause [Effect] an operating margin of 7.7%, up 340 basis points from 2019",
    "valid": false
  },
  {
    "input": "A sharp economic downturn could affect auto technicians' ability to repay their loans to Snap-on Finance as well as credit extended from franchisees that does not appear on its balance sheet.",
    "output": "[Cause] A sharp economic downturn [Relation] cause [Effect] ",
    "gold": "[Cause] A sharp economic downturn [Relation] cause [Effect] affect auto technicians' ability to repay their loans to Snap-on Finance as well as credit extended from franchisees",
    "valid": false
  },
  {
    "input": "Ball's acquisition of Rexam highlights management's focus on investment in emerging markets, where discretionary income growth ought to drive higher consumption of processed foods, including beer and soft drinks.",
    "output": "[Cause] management's focus on investment in emerging markets [Relation] enable [Effect] Ball's acquisition of Rexam",
    "gold": "[Cause] discretionary income growth [Relation] enable [Effect] higher consumption of processed foods",
    "valid": false
  },
  {
    "input": "We model this into our base-case demand assumptions, but as mRNA vaccines are in high demand globally, this is immaterial to our valuation (less than 10% impact).",
    "output": "[Cause] mRNA vaccines are in high demand globally [Relation] cause [Effect] immaterial to our valuation (less than 10% impact)",
    "gold": "[Cause] mRNA vaccines are in high demand globally [Relation] cause [Effect] immaterial to our valuation (less than 10% impact)",
    "valid": true
  },
  {
    "input": "Shaw has made significant efforts to improve its wireless network and is now bundling wireless with wireline service to customers in its cable footprint, enabling it offer even better value and enhancing service when offloaded onto its WiFi network.",
    "output": "[Cause] Shaw has made significant efforts to improve its wireless network and is now bundling wireless with wireline service [Relation] enable [Effect] enabling it to offer even better value and enhancing service when offloaded onto its WiFi network",
    "gold": "[Cause] Shaw has made significant efforts to improve its wireless network and is now bundling wireless with wireline service to customers in its cable footprint [Relation] enable [Effect] enabling it offer even better value and enhancing service when offloaded onto its WiFi network",
    "valid": false
  },
  {
    "input": "Risks surrounding additional waves of COVID-19 cases remain, leading to potential needs for incremental liquidity, which perhaps could occur at value destructive levels.",
    "output": "[Cause] Risks surrounding additional waves of COVID-19 cases remain [Relation] cause [Effect] potential needs for incremental liquidity",
    "gold": "[Cause] Risks surrounding additional waves of COVID-19 cases remain [Relation] cause [Effect] potential needs for incremental liquidity",
    "valid": true
  },
  {
    "input": "Also, while industrial and automotive markets are relatively fragmented, sales from mobile devices are relatively concentrated, requiring less SG&amp;A spend to maintain sales growth.",
    "output": "[Cause] sales from mobile devices are relatively concentrated [Relation] cause [Effect] requiring less SG&A spend to maintain sales growth",
    "gold": "[Cause] sales from mobile devices are relatively concentrated [Relation] cause [Effect] requiring less SG&amp;A spend to maintain sales growth",
    "valid": false
  },
  {
    "input": "Additionally, operating margins are modeled to reach 23% in 2030 from about 13% in the prepandemic year of 2019, aided by long-term growth and mix shift to higher-margin premium mass gaming and nongaming in the Macao market.",
    "output": "[Cause] long-term growth and mix shift to higher-margin premium mass gaming and non-gaming in the Macao market [Relation] cause [Effect] operating margins are modeled to reach 23% in 2030 from about 13% in the prepandemic year of 2019",
    "gold": "[Cause] long-term growth and mix shift to higher-margin premium mass gaming and nongaming in the Macao market [Relation] cause [Effect] operating margins are modeled to reach 23% in 2030 from about 13% in the prepandemic year of 2019",
    "valid": false
  },
  {
    "input": "A priority of the new strategy includes investing in technology capabilities that would help improve Kingfisher's low online penetration and improve supply chain issues, which have contributed to inefficiencies and inferior inventory turn ratios to peers.",
    "output": "[Cause] inefficient supply chain issues and low online penetration [Relation] contribute to [Effect] inferior inventory turn ratios compared to peers",
    "gold": "[Cause] supply chain issues [Relation] cause [Effect] inefficiencies and inferior inventory turn ratios to peers",
    "valid": false
  },
  {
    "input": "A priority of the new strategy includes investing in technology capabilities that would help improve Kingfisher's low online penetration and improve supply chain issues, which have contributed to inefficiencies and inferior inventory turn ratios to peers.",
    "output": "[Cause] inefficiencies and inferior inventory turn ratios to peers [Relation] cause [Effect] investing in technology capabilities",
    "gold": "[Cause] investing in technology capabilities [Relation] enable [Effect] improve Kingfisher's low online penetration and improve supply chain issues",
    "valid": false
  },
  {
    "input": "The potential earnings from its less visible real estate portfolio could provide some upside to the company's earnings after the easy cost-cutting is complete.",
    "output": "[Cause] potential earnings from its less visible real estate portfolio [Relation] enable [Effect] provide some upside to the company's earnings",
    "gold": "[Cause] the easy cost-cutting is complete [Relation] cause [Effect] potential earnings from its less visible real estate portfolio could provide some upside to the company's earnings",
    "valid": false
  },
  {
    "input": "We see noninterest income increasing at a compound annual growth rate of roughly 3% during normal times, with unusual pressure emerging in 2020 and 2021. This leads us to expect a terminal return on tangible equity of 15% for our forecast period, compared with the cost of equity of 9%.",
    "output": "[Cause] unusual pressure emerging in 2020 and 2021 [Relation] cause [Effect] noninterest income increasing at a compound annual growth rate of roughly 3%",
    "gold": "[Cause] We see noninterest income increasing at a compound annual growth rate of roughly 3% during normal times, with unusual pressure emerging in 2020 and 2021 [Relation] cause [Effect] a terminal return on tangible equity of 15% for our forecast period, compared with the cost of equity of 9%",
    "valid": false
  },
  {
    "input": "The non-General Dynamics bid was disqualified because the contractor could not ship a prototype by the deadline, leaving only General Dynamics as the sole source capable of delivering a product.",
    "output": "[Cause] the contractor could not ship a prototype by the deadline [Relation] prevent [Effect] the non-General Dynamics bid was disqualified",
    "gold": "[Cause] The non-General Dynamics bid was disqualified [Relation] cause [Effect] only General Dynamics as the sole source capable of delivering a product",
    "valid": false
  },
  {
    "input": "We expect Matco to be able to ward off competition thanks to its exclusive van route network, frequent interactions with mechanics that drive customer loyalty, and growth in diagnostic solutions that become embedded in a repair shops' operations.",
    "output": "[Cause] exclusive van route network, frequent interactions with mechanics, growth in diagnostic solutions [Relation] enable [Effect] Matco to be able to ward off competition",
    "gold": "[Cause] its exclusive van route network, frequent interactions with mechanics that drive customer loyalty, and growth in diagnostic solutions [Relation] prevent [Effect] competition",
    "valid": false
  },
  {
    "input": "But the current environment is also inhibiting some sales, as many retailers are delaying shelf resets and thus the launch of Hain innovations.",
    "output": "[Cause] many retailers are delaying shelf resets and thus the launch of Hain innovations. [Relation] prevent [Effect] the current environment is also inhibiting some sales",
    "gold": "[Cause] delaying shelf resets [Relation] cause [Effect] thus the launch of Hain innovations.",
    "valid": false
  },
  {
    "input": "A second factor is Boeing and Airbus, the primary commercial aerospace customers, are quite conservative customers because carbon fiber is central to the core product they deliver.",
    "output": "[Cause] carbon fiber is central to the core product Boeing and Airbus deliver [Relation] cause [Effect] Boeing and Airbus are conservative customers",
    "gold": "[Cause] carbon fiber is central to the core product they deliver [Relation] cause [Effect] the primary commercial aerospace customers, are quite conservative customers",
    "valid": false
  },
  {
    "input": "This coincides with a generation of millennials who have long delayed many adult milestones but have started to move to the suburbs due to the pandemic, and this trend will likely continue over the next decade as they age and start families.",
    "output": "[Cause] a generation of millennials who have long delayed many adult milestones but have started to move to the suburbs due to the pandemic [Relation] cause [Effect] This trend will likely continue over the next decade as they age and start families",
    "gold": "[Cause] the pandemic [Relation] cause [Effect] a generation of millennials who have long delayed many adult milestones but have started to move to the suburbs due to the pandemic",
    "valid": false
  },
  {
    "input": "This coincides with a generation of millennials who have long delayed many adult milestones but have started to move to the suburbs due to the pandemic, and this trend will likely continue over the next decade as they age and start families.",
    "output": "[Cause] a generation of millennials who have long delayed many adult milestones but have started to move to the suburbs due to the pandemic [Relation] cause [Effect] this trend will likely continue over the next decade as they age and start families",
    "gold": "[Cause] they age and start families [Relation] cause [Effect] this trend will likely continue over the next decade",
    "valid": false
  },
  {
    "input": "Our long-term revenue and margin assumptions are driven by continued employment growth over the next few years in higher-skilled professions and a return to labor market tightness.",
    "output": "[Cause] continued employment growth over the next few years in higher-skilled professions and a return to labor market tightness [Relation] drive [Effect] long-term revenue and margin assumptions",
    "gold": "[Cause] Our long-term revenue and margin [Relation] cause [Effect] continued employment growth over the next few years in higher-skilled professions and a return to labor market tightness",
    "valid": false
  },
  {
    "input": "As the number of contacts increases, more developers will choose to develop miniprograms for WeChat or mobile QQ, and existing users can benefit from having access to additional miniprograms.",
    "output": "[Cause] the number of contacts increases [Relation] cause, enable [Effect] more developers will choose to develop miniprograms for WeChat or mobile QQ",
    "gold": "[Cause] the number of contacts increases [Relation] cause [Effect] more developers will choose to develop miniprograms for WeChat or mobile QQ",
    "valid": true
  },
  {
    "input": "As the number of contacts increases, more developers will choose to develop miniprograms for WeChat or mobile QQ, and existing users can benefit from having access to additional miniprograms.",
    "output": "[Cause] the number of contacts increases [Relation] enable [Effect] more developers will choose to develop miniprograms for WeChat or mobile QQ",
    "gold": "[Cause] more developers will choose to develop miniprograms for WeChat or mobile QQ [Relation] enable [Effect] existing users can benefit from having access to additional miniprograms",
    "valid": false
  },
  {
    "input": "Because ICU is the key leader in IV consumables where it can offer a significant discount relative to its competitors, we think ICU has a cost advantage that many hospital end users find attractive.",
    "output": "[Cause] ICU is the key leader in IV consumables where it can offer a significant discount relative to its competitors [Relation] cause [Effect] ICU has a cost advantage that many hospital end users find attractive",
    "gold": "[Cause] ICU is the key leader in IV consumables where it can offer a significant discount relative to its competitors [Relation] cause [Effect] ICU has a cost advantage that many hospital end users find attractive",
    "valid": true
  },
  {
    "input": "Because ICU is the key leader in IV consumables where it can offer a significant discount relative to its competitors, we think ICU has a cost advantage that many hospital end users find attractive.",
    "output": "[Cause] ICU is the key leader in IV consumables where it can offer a significant discount relative to its competitors [Relation] cause [Effect] many hospital end users find ICU's cost advantage attractive",
    "gold": "[Cause] offer a significant discount relative to its competitors [Relation] cause [Effect] ICU is the key leader in IV consumables",
    "valid": false
  },
  {
    "input": "Because ICU is the key leader in IV consumables where it can offer a significant discount relative to its competitors, we think ICU has a cost advantage that many hospital end users find attractive.",
    "output": "[Cause] ICU can offer a significant discount relative to its competitors [Relation] cause [Effect] ICU has a cost advantage that many hospital end users find attractive",
    "gold": "[Cause] a cost advantage [Relation] cause [Effect] many hospital end users find attractive",
    "valid": false
  },
  {
    "input": "One benefit of the platform is that it allows the use of one business number that can support all communication types via both computers and mobile devices. This allows customers to use a personal mobile device for business needs no matter where they are while maintaining the privacy of their personal mobile phone number.",
    "output": "[Cause] The platform allows the use of one business number that can support all communication types via both computers and mobile devices [Relation] enable [Effect] Customers can use a personal mobile device for business needs no matter where they are while maintaining the privacy of their personal mobile phone number",
    "gold": "[Cause] One benefit of the platform is that it allows the use of one business number that can support all communication types via both computers and mobile devices [Relation] enable [Effect] customers to use a personal mobile device for business needs no matter where they are while maintaining the privacy of their personal mobile phone number",
    "valid": false
  },
  {
    "input": "Cheaper equipment can increase the likelihood of machine failure during operation, leading to lost productivity that cuts into an operator's profitability (mission-critical equipment).",
    "output": "[Cause] Cheaper equipment [Relation] cause [Effect] increase the likelihood of machine failure during operation",
    "gold": "[Cause] Cheaper equipment can increase the likelihood of machine failure during operation [Relation] enable [Effect] leading to lost productivity that cuts into an operator's profitability (mission-critical equipment)",
    "valid": false
  },
  {
    "input": "Not only new users of Weibo but also existing users see higher value from the network as the number of users increase.",
    "output": "[Cause] the number of users increase [Relation] enable [Effect] new users of Weibo and existing users see higher value from the network",
    "gold": "[Cause] the network as the number of users increase [Relation] enable [Effect] Not only new users of Weibo but also existing users see higher value",
    "valid": false
  },
  {
    "input": "The company has also been able to maintain ample supply of premier land to replace closed communities and meet future demand.",
    "output": "[Cause] the company has been able to maintain ample supply of premier land [Relation] enable [Effect] replace closed communities and meet future demand",
    "gold": "[Cause] The company has also been able to maintain ample supply of premier land [Relation] enable [Effect] replace closed communities and meet future demand",
    "valid": false
  },
  {
    "input": "Ultimately, workers will need to be comfortable with that technology, which can become complicated if they're forced to learn multiple platforms.",
    "output": "[Cause] workers being forced to learn multiple platforms [Relation] cause [Effect] workers needing to be comfortable with that technology",
    "gold": "[Cause] they're forced to learn multiple platforms [Relation] cause [Effect] become complicated",
    "valid": false
  },
  {
    "input": "States across which PPL operates are beginning to embrace tighter policies on carbon emissions and greater restrictions on coal generation, although we think that transition will be slower in states like Kentucky with a large coal industry presence.",
    "output": "[Cause] States across which PPL operates are beginning to embrace tighter policies on carbon emissions and greater restrictions on coal generation [Relation] cause [Effect] transition will be slower in states like Kentucky with a large coal industry presence",
    "gold": "[Cause] States across which PPL operates are beginning to embrace tighter policies on carbon emissions [Relation] prevent [Effect] greater restrictions on coal generation",
    "valid": false
  },
  {
    "input": "As a part of this, Campbell is scrutinizing its innovation pipeline to ensure alignment with consumers' evolving trends (including convenience, health, and wellness).",
    "output": "[Cause] Campbell is scrutinizing its innovation pipeline to ensure alignment with consumers' evolving trends (including convenience, health, and wellness). [Relation] cause [Effect] N/A (no explicit effect mentioned in the text)",
    "gold": "[Cause] Campbell is scrutinizing its innovation pipeline [Relation] enable [Effect] alignment with consumers' evolving trends",
    "valid": false
  },
  {
    "input": "However, we expect higher wage and health care costs to more than offset $150 million to $170 million in identified operating expense savings attributed to revamping the firm's supply chain, reducing indirect spending, leveraging shared services, and continuing to optimize the salesforce.",
    "output": "[Cause] higher wage and health care costs [Relation] cause [Effect] more than offset $150 million to $170 million in identified operating expense savings",
    "gold": "[Cause] revamping the firm's supply chain, reducing indirect spending, leveraging shared services, and continuing to optimize the salesforce [Relation] enable [Effect] higher wage and health care costs to more than offset $150 million to $170 million in identified operating expense savings",
    "valid": false
  },
  {
    "input": "However, with substantial cash flow, we think the company is well positioned to target several rare diseases over the next decade.",
    "output": "[Cause] substantial cash flow [Relation] enable [Effect] the company is well positioned to target several rare diseases over the next decade",
    "gold": "[Cause] substantial cash flow [Relation] cause [Effect] the company is well positioned to target several rare diseases over the next decade",
    "valid": true
  },
  {
    "input": "NiSource has reduced some of the regulatory uncertainty related to its planned natural gas distribution and electric utilities investments by securing preapprovals and favorable rate mechanisms that provide for automatic rate increases as infrastructure investments are made.",
    "output": "[Cause] securing preapprovals and favorable rate mechanisms [Relation] enable [Effect] reduced regulatory uncertainty related to its planned natural gas distribution and electric utilities investments",
    "gold": "[Cause] securing preapprovals and favorable rate mechanisms that provide for automatic rate increases as infrastructure investments are made [Relation] cause [Effect] NiSource has reduced some of the regulatory uncertainty related to its planned natural gas distribution and electric utilities investments",
    "valid": false
  },
  {
    "input": "Amazon has done a better job diversifying its product mix toward more consumer staples in recent years, which should help to insulate the company from a global economic slowdown or recession.",
    "output": "[Cause] Amazon has done a better job diversifying its product mix toward more consumer staples in recent years [Relation] cause [Effect] help to insulate the company from a global economic slowdown or recession",
    "gold": "[Cause] Amazon has done a better job diversifying its product mix toward more consumer staples in recent years [Relation] enable [Effect] help to insulate the company from a global economic slowdown or recession",
    "valid": true
  },
  {
    "input": "Its position and brand strength empower it to charge the highest subscriber fees of any cable network, which in turn generate sustainable profits.",
    "output": "[Cause] Its position and brand strength empower it to charge the highest subscriber fees of any cable network [Relation] enable [Effect] generate sustainable profits",
    "gold": "[Cause] Its position and brand strength [Relation] cause [Effect] empower it to charge the highest subscriber fees of any cable network",
    "valid": false
  },
  {
    "input": "Its position and brand strength empower it to charge the highest subscriber fees of any cable network, which in turn generate sustainable profits.",
    "output": "[Cause] Its position and brand strength [Relation] enable [Effect] empower it to charge the highest subscriber fees of any cable network",
    "gold": "[Cause] empower it to charge the highest subscriber fees of any cable network [Relation] cause [Effect] turn generate sustainable profits",
    "valid": false
  },
  {
    "input": "PG&E needs well-functioning and cost-effective capital markets to fund its planned $8 billion of investment every year.",
    "output": "[Cause] PG&E needs well-functioning and cost-effective capital markets [Relation] enable [Effect] fund its planned $8 billion of investment every year",
    "gold": "[Cause] fund its planned $8 billion of investment every year [Relation] cause [Effect] needs well-functioning and cost-effective capital markets",
    "valid": false
  },
  {
    "input": "If an enterprise software experienced significant downtime, suffered a poor software release, or a company's servers were not properly maintained or well balanced in terms of loads--a company could bear immense costs.",
    "output": "[Cause] significant downtime, poor software release, or servers not properly maintained or well balanced in terms of loads [Relation] cause [Effect] a company could bear immense costs",
    "gold": "[Cause] an enterprise software experienced significant downtime, suffered a poor software release, or a company's servers were not properly maintained or well balanced in terms of loads [Relation] cause [Effect] bear immense costs",
    "valid": false
  },
  {
    "input": "We believe switching costs in small and medium business banking are reinforced by relationship managers, specialised sector expertise, breadth of product offerings, and the customers additional focus on system reliability.",
    "output": "[Cause] relationship managers, specialised sector expertise, breadth of product offerings, and the customers' additional focus on system reliability [Relation] reinforce [Effect] switching costs in small and medium business banking are reinforced",
    "gold": "[Cause] relationship managers, specialised sector expertise, breadth of product offerings, and the customers additiona [Relation] enable [Effect] switching costs in small and medium business banking are reinforced",
    "valid": false
  },
  {
    "input": "Illinois and Maryland are two historically tough regulatory environments, and punitive rate decisions could have a material impact on earnings and growth.",
    "output": "[Cause] Illinois and Maryland are historically tough regulatory environments [Relation] cause [Effect] punitive rate decisions could have a material impact on earnings and growth",
    "gold": "[Cause] Illinois and Maryland are two historically tough regulatory environments [Relation] enable [Effect] punitive rate decisions could have a material impact on earnings and growth",
    "valid": false
  },
  {
    "input": "And although it has a track record of staying on top of evolving consumer trends with its assortment of locally relevant fare, we posit Colgate's cost advantages enable it to replicate competitive products and do so at a lower cost.",
    "output": "[Cause] Colgate's cost advantages enable it to replicate competitive products [Relation] enable [Effect] do so at a lower cost",
    "gold": "[Cause] it has a track record of staying on top of evolving consumer trends with its assortment of locally relevant fare [Relation] enable [Effect] we posit Colgate's cost advantages enable it to replicate competitive products and do so at a lower cost",
    "valid": false
  },
  {
    "input": "We expect services revenue can decrease to 5% of revenue by 2031, as the company relies increasingly on third party IT servicers to implement and service its software.",
    "output": "[Cause] the company relies increasingly on third-party IT servicers to implement and service its software [Relation] enable [Effect] services revenue can decrease to 5% of revenue by 2031",
    "gold": "[Cause] the company relies increasingly on third party IT servicers to implement and service its software [Relation] cause [Effect] services revenue can decrease to 5% of revenue by 2031",
    "valid": false
  },
  {
    "input": "Northrop also faces the risk that supply chain issues or production challenges would prevent it from meeting its contractual obligations, which could strain the relationship with the customer.",
    "output": "[Cause] supply chain issues or production challenges [Relation] prevent [Effect] prevent Northrop from meeting its contractual obligations",
    "gold": "[Cause] Northrop also faces the risk that supply chain issues or production challenges would prevent it from meeting its contractual obligations [Relation] cause [Effect] strain the relationship with the customer",
    "valid": false
  },
  {
    "input": "TechnipFMC's subsea segment will be particularly adversely affected owing to its exposure to deep-water offshore, which stands at a cost disadvantage compared with low-cost U.S.",
    "output": "[Cause] TechnipFMC's exposure to deep-water offshore, which stands at a cost disadvantage compared with low-cost U.S. [Relation] cause [Effect] TechnipFMC's subsea segment will be particularly adversely affected",
    "gold": "[Cause] its exposure to deep-water offshore, which stands at a cost disadvantage compared with low-cost U.S [Relation] cause [Effect] TechnipFMC's subsea segment will be particularly adversely affected",
    "valid": false
  },
  {
    "input": "TransAlta should be well positioned to manage its environmental, social, and governance risk, primarily from greenhouse gas emissions, as it retires or repowers its remaining coal-fired power plants over the next few years.",
    "output": "[Cause] retiring or repowering its remaining coal-fired power plants over the next few years [Relation] enable [Effect] TransAlta should be well positioned to manage its environmental, social, and governance risk, primarily from greenhouse gas emissions",
    "gold": "[Cause] t retires or repowers its remaining coal-fired power plants over the next few years [Relation] cause [Effect] TransAlta should be well positioned to manage its environmental, social, and governance risk, primarily from greenhouse gas emissions",
    "valid": false
  },
  {
    "input": "They would not have the advantage Cogent had 20 years ago, when top providers in a more nascent Internet business were phone and cable companies, and fiber assets could be procured on the cheap due to the collapse of the tech and telecom bubble.",
    "output": "[Cause] the collapse of the tech and telecom bubble [Relation] cause [Effect] fiber assets could be procured on the cheap",
    "gold": "[Cause] the collapse of the tech and telecom bubble [Relation] cause [Effect] fiber assets could be procured on the cheap",
    "valid": true
  },
  {
    "input": "We aren't fond of the price paid, which was set in a bidding war with Fox and Disney, as the business generated only $3.1 billion in EBITDA in 2019 and required $1.5 billion in capital spending.",
    "output": "[Cause] the price paid, which was set in a bidding war with Fox and Disney [Relation] cause [Effect] the business generated only $3.1 billion in EBITDA in 2019 and required $1.5 billion in capital spending",
    "gold": "[Cause] the business generated only $3.1 billion in EBITDA in 2019 and required $1.5 billion in capital spending [Relation] cause [Effect] We aren't fond of the price paid, which was set in a bidding war with Fox and Disney",
    "valid": false
  },
  {
    "input": "Before 2016, the market had long viewed Johnson Controls as an automotive-parts company because about two thirds of its sales came from automakers.",
    "output": "[Cause] about two-thirds of its sales came from automakers [Relation] cause [Effect] the market had long viewed Johnson Controls as an automotive-parts company before 2016",
    "gold": "[Cause] about two thirds of its sales came from automakers [Relation] cause [Effect] Before 2016, the market had long viewed Johnson Controls as an automotive-parts company",
    "valid": false
  },
  {
    "input": "At the same time, the company can benefit from increased aftermarket sales, as Ingersoll-Rand said that iConn has increased the aftermarket opportunity for connected compressors by as much as 25%. As such, we believe that not only will digital solutions increase the stickiness of the business by offering software that complements the large installed base of equipment, but they also have the potential to translate into a meaningfully larger recurring revenue stream.",
    "output": "[Cause] iConn has increased the aftermarket opportunity for connected compressors by as much as 25% [Relation] enable [Effect] the company can benefit from increased aftermarket sales",
    "gold": "[Cause] the company can benefit from increased aftermarket sales, as Ingersoll-Rand said that iConn has increased the aftermarket opportunity for connected compressors by as much as 25% [Relation] cause [Effect] not only will digital solutions increase the stickiness of the business by offering software that complements the large installed base of equipment, but they also have the potential to translate into a meaningfully larger recurring revenue stream",
    "valid": false
  },
  {
    "input": "Though we think West could see some margin expansion in 2022, we think the rate of margin expansion could slow because of more-normal levels of operating costs, and we forecast margin growth of just 20 basis points next year.",
    "output": "[Cause] more-normal levels of operating costs [Relation] cause [Effect] the rate of margin expansion could slow",
    "gold": "[Cause] more-normal levels of operating costs [Relation] cause [Effect] the rate of margin expansion could slow",
    "valid": true
  },
  {
    "input": "The trust placed in O'Reilly's staff members makes consumers more receptive to trying a proprietary-label product, reinforcing the value of the brands in O'Reilly's portfolio.",
    "output": "[Cause] The trust placed in O'Reilly's staff members [Relation] enable [Effect] makes consumers more receptive to trying a proprietary-label product, reinforcing the value of the brands in O'Reilly's portfolio",
    "gold": "[Cause] consumers more receptive to trying a proprietary-label product [Relation] enable [Effect] reinforcing the value of the brands in O'Reilly's portfolio",
    "valid": false
  },
  {
    "input": "Agco experienced strong growth in core Agco European and North American markets during 2018, largely due to pent-up replacement demand after years of weaker sales.",
    "output": "[Cause] pent-up replacement demand after years of weaker sales [Relation] cause [Effect] Agco experienced strong growth in core Agco European and North American markets during 2018",
    "gold": "[Cause] pent-up replacement demand after years of weaker sales [Relation] cause [Effect] Agco experienced strong growth in core Agco European and North American markets during 2018",
    "valid": true
  },
  {
    "input": "The disease is still not fully contained, so this supply shortage should support global protein prices once the pandemic subsides and should result in strong export demand.",
    "output": "[Cause] The disease is still not fully contained [Relation] cause [Effect] supply shortage should support global protein prices once the pandemic subsides",
    "gold": "[Cause] supply shortage [Relation] cause [Effect] support global protein prices once the pandemic subsides",
    "valid": false
  },
  {
    "input": "The disease is still not fully contained, so this supply shortage should support global protein prices once the pandemic subsides and should result in strong export demand.",
    "output": "[Cause] The disease is still not fully contained, resulting in a supply shortage [Relation] enable [Effect] support global protein prices once the pandemic subsides",
    "gold": "[Cause] supply shortage [Relation] cause [Effect] strong export demand",
    "valid": false
  },
  {
    "input": "Through analyzing the data and applying artificial intelligence, the advertisers can improve the efficiency of advertisements through targeted marketing, which can lead to higher advertising revenue for Tencent.",
    "output": "[Cause] analyzing the data and applying artificial intelligence [Relation] enable [Effect] improve the efficiency of advertisements through targeted marketing",
    "gold": "[Cause] analyzing the data and applying artificial intelligence [Relation] enable [Effect] higher advertising revenue for Tencent",
    "valid": false
  },
  {
    "input": "Through analyzing the data and applying artificial intelligence, the advertisers can improve the efficiency of advertisements through targeted marketing, which can lead to higher advertising revenue for Tencent.",
    "output": "[Cause] analyzing the data and applying artificial intelligence [Relation] enable [Effect] improve the efficiency of advertisements through targeted marketing",
    "gold": "[Cause] analyzing the data and applying artificial intelligence [Relation] enable [Effect] advertisers can improve the efficiency of advertisements",
    "valid": false
  },
  {
    "input": "Meanwhile, suppliers can enjoy the full capabilities of Coupa's product for free and can onboard rapidly, motivating them to sign up to maintain existing customer relationships and foster new ones.",
    "output": "[Cause] suppliers can enjoy the full capabilities of Coupa's product for free and can onboard rapidly [Relation] cause [Effect] motivating them to sign up to maintain existing customer relationships and foster new ones",
    "gold": "[Cause] suppliers can enjoy the full capabilities of Coupa's product for free and can onboard rapidly [Relation] enable [Effect] motivating them to sign up to maintain existing customer relationships and foster new ones",
    "valid": true
  },
  {
    "input": "Pipeline extensions or expansions have high incremental returns on capital because each new end point of supply means more customers paying for the core Transco network.",
    "output": "[Cause] Pipeline extensions or expansions [Relation] enable [Effect] have high incremental returns on capital",
    "gold": "[Cause] more customers paying for the core Transco network. [Relation] cause [Effect] Pipeline extensions or expansions have high incremental returns",
    "valid": false
  },
  {
    "input": "Attempts to fill unused capacity by competing for existing contracts tend to prove challenging because staggered multiyear supply contracts reduce the volume of production open to competition in any given year.",
    "output": "[Cause] staggered multiyear supply contracts [Relation] cause [Effect] reduce the volume of production open to competition in any given year",
    "gold": "[Cause] staggered multiyear supply contracts reduce the volume of production open to competition in any given year [Relation] enable [Effect] Attempts to fill unused capacity by competing for existing contracts tend to prove challenging",
    "valid": false
  },
  {
    "input": "We see this increasing more in line with nominal GDP growth in the future, forecasting a mid-single-digit growth rate for noninterest income in our base case, around the high end of management guidance. This is driven by increased insurance revenue and a return to growth in card income in line with an (albeit likely protracted) economic recovery.",
    "output": "[Cause] increased insurance revenue and a return to growth in card income in line with an economic recovery [Relation] cause [Effect] mid-single-digit growth rate for noninterest income in the future",
    "gold": "[Cause] increased insurance revenue and a return to growth in card income in line with an (albeit likely protracted) economic recovery [Relation] cause [Effect] this increasing more in line with nominal GDP growth in the future, forecasting a mid-single-digit growth rate for noninterest income in our base case, around the high end of management guidance",
    "valid": false
  },
  {
    "input": "The combination of Valspar's and Sherwin's operations is allowing for the gradual closure of redundant facilities, which management expects to take years to play out, and they aren't explicitly identified in synergy estimates for the deal.",
    "output": "[Cause] The combination of Valspar's and Sherwin's operations [Relation] enable [Effect] allowing for the gradual closure of redundant facilities",
    "gold": "[Cause] The combination of Valspar's and Sherwin's operations is allowing for the gradual closure of redundant facilities, [Relation] enable [Effect] management expects to take years to play out, and they aren't explicitly identified in synergy estimates for the deal.",
    "valid": false
  },
  {
    "input": "Given the inherent scalability in the asset light business model, we expect operating margins to improve over time as general and administrative and technology and development costs decrease as a percentage of segment revenue.",
    "output": "[Cause] inherent scalability in the asset light business model [Relation] enable [Effect] expect operating margins to improve over time",
    "gold": "[Cause] as general and administrative and technology and development costs decrease as a percentage of segment revenue. [Relation] enable [Effect] operating margins to improve",
    "valid": false
  },
  {
    "input": "As current iPhone users are familiar with the iOS environment (Apple-centric apps, services, and so on), it may take multiple subpar product releases to warrant an exodus to an Android OS, as these customers are likely loath to leave Apple's seemingly superior walled garden.",
    "output": "[Cause] current iPhone users are familiar with the iOS environment (Apple-centric apps, services, and so on) [Relation] impact [Effect] it may take multiple subpar product releases to warrant an exodus to an Android OS",
    "gold": "[Cause] current iPhone users are familiar with the iOS environment (Apple-centric apps, services, and so on) [Relation] cause [Effect] it may take multiple subpar product releases to warrant an exodus to an Android OS",
    "valid": true
  },
  {
    "input": "While we continue to expect the firm's operating margins to be affected by lower revenue yields and higher operating costs, we see adjusted operating profitability hovering between 32% and 35% of revenue (up from 30% to 32% previously) during our five-year forecast period. As a result, the company should be able to generate at least $650 million in free cash flow on average annually during 2020-24.",
    "output": "[Cause] lower revenue yields and higher operating costs [Relation] cause [Effect] operating margins to be affected",
    "gold": "[Cause] While we continue to expect the firm's operating margins to be affected by lower revenue yields and higher operating costs, we see adjusted operating profitability hovering between 32% and 35% of revenue (up from 30% to 32% previously) during our five-year forecast period [Relation] cause [Effect] the company should be able to generate at least $650 million in free cash flow on average annually during 2020-24",
    "valid": false
  },
  {
    "input": "However, we expect margins to recover and return to the low to mid-30% range as the company continues to develop new downstream products that provide some pricing power.",
    "output": "[Cause] the company continues to develop new downstream products [Relation] enable [Effect] margins to recover and return to the low to mid-30% range",
    "gold": "[Cause] the company continues to develop new downstream products [Relation] enable [Effect] margins to recover and return to the low to mid-30% range",
    "valid": true
  },
  {
    "input": "The company's enhanced oil recovery and exploration projects are no longer economically viable when commodity prices drop below certain thresholds.",
    "output": "[Cause] commodity prices drop below certain thresholds [Relation] cause [Effect] The company's enhanced oil recovery and exploration projects are no longer economically viable",
    "gold": "[Cause] commodity prices drop below certain thresholds [Relation] cause [Effect] The company's enhanced oil recovery and exploration projects are no longer economically viable",
    "valid": true
  },
  {
    "input": "Toll Brothers enjoys strong brand recognition among homebuilders and is a market leader in the luxury homebuilding space; however, it operates in an extremely cyclical, competitive, and capital-intensive industry that prevents the company from earning consistent positive economic profits over the business cycle.",
    "output": "[Cause] Toll Brothers operates in an extremely cyclical, competitive, and capital-intensive industry [Relation] prevent [Effect] prevents the company from earning consistent positive economic profits over the business cycle",
    "gold": "[Cause] it operates in an extremely cyclical, competitive, and capital-intensive industry [Relation] prevent [Effect] the company from earning consistent positive economic profits over the business cycle",
    "valid": false
  },
  {
    "input": "Success in refining is primarily a function of the difference in the amount the refiner pays for oil and the amount at which it sells the refined product. As such, the short- and long-term risks depend on movements in the prices of crude oil and gasoline or diesel which can be volatile.",
    "output": "[Cause] movements in the prices of crude oil and gasoline or diesel which can be volatile [Relation] cause [Effect] the short- and long-term risks depend on these movements",
    "gold": "[Cause] Success in refining is primarily a function of the difference in the amount the refiner pays for oil and the amount at which it sells the refined product [Relation] cause [Effect] the short- and long-term risks depend on movements in the prices of crude oil and gasoline or diesel which can be volatile",
    "valid": false
  },
  {
    "input": "We believe that Paycom's unified database and strong focus on employee self-service and data analytics will enable businesses to see the value in the firm's platform and will drive new client adoption alongside further entrenching existing clients within Paycom.",
    "output": "[Cause] Paycom's unified database and strong focus on employee self-service and data analytics [Relation] enable [Effect] enable businesses to see the value in the firm's platform, drive new client adoption, entrench existing clients within Paycom",
    "gold": "[Cause] Paycom's unified database and strong focus on employee self-service and data analytics [Relation] enable [Effect] enable businesses to see the value in the firm's platform and will drive new client adoption alongside further entrenching existing clients within Paycom",
    "valid": false
  },
  {
    "input": "With gross margin improvement and revenue significantly outpacing the year-over-year increases needed in sales, marketing, and development efforts, we model operating margins to improve into the 20% range in fiscal 2025, up from a negative 30% in fiscal 2020.",
    "output": "[Cause] gross margin improvement and revenue significantly outpacing the year-over-year increases needed in sales, marketing, and development efforts [Relation] cause [Effect] operating margins to improve into the 20% range in fiscal 2025, up from a negative 30% in fiscal 2020.",
    "gold": "[Cause] gross margin improvement and revenue significantly outpacing the year-over-year increases needed in sales, marketing, and development efforts [Relation] enable [Effect] we model operating margins to improve into the 20% range in fiscal 2025, up from a negative 30% in fiscal 2020",
    "valid": false
  },
  {
    "input": "Given TE's excellent operating record and time-tested reliability, a customer would face little motivation to switch to a marginally cheaper supplier, given the potentially cataclysmic blow to the customer's reputation and profits that would arise from an ill-performing new system.",
    "output": "[Cause] TE's excellent operating record and time-tested reliability [Relation] enable [Effect] a customer would face little motivation to switch to a marginally cheaper supplier",
    "gold": "[Cause] given the potentially cataclysmic blow to the customer's reputation and profits that would arise from an ill-performing new system [Relation] cause [Effect] a customer would face little motivation to switch to a marginally cheaper supplier",
    "valid": false
  },
  {
    "input": "There were a few new, stringent rules on licensing and operations in after-school tutoring in China, which would require providers to fulfil fire safety, space requirement, and obtain both operating licenses and education permits.",
    "output": "[Cause] new, stringent rules on licensing and operations in after-school tutoring in China [Relation] cause [Effect] require providers to fulfill fire safety, space requirements, and obtain both operating licenses and education permits",
    "gold": "[Cause] There were a few new, stringent rules on licensing and operations in after-school tutoring in China [Relation] enable [Effect] require providers to fulfil fire safety, space requirement, and obtain both operating licenses and education permits",
    "valid": false
  },
  {
    "input": "We expect American's fundamentals will recover after a COVID-19 vaccine is distributed, which we assume will occur in 2021, and business travel subsequently resumes.",
    "output": "[Cause] distribution of a COVID-19 vaccine [Relation] enable [Effect] American's fundamentals will recover",
    "gold": "[Cause] a COVID-19 vaccine is distributed, which we assume will occur in 2021, and business travel subsequently resumes [Relation] enable [Effect] American's fundamentals will recover",
    "valid": false
  },
  {
    "input": "An OEM will gladly pay more for an integrated solution, because it is able to save time and costs by outsourcing the integration to a trusted design partner, like TE.",
    "output": "[Cause] ability to save time and costs by outsourcing the integration to a trusted design partner, like TE [Relation] enable [Effect] An OEM will gladly pay more for an integrated solution",
    "gold": "[Cause] outsourcing the integration to a trusted design partner, like TE [Relation] enable [Effect] save time and costs",
    "valid": false
  },
  {
    "input": "Business ethics risk stems from Nissan's involvement in emissions cheating and a recall due to lacks final inspection protocol in Japan.",
    "output": "[Cause] Nissan's involvement in emissions cheating and a recall due to lacks final inspection protocol in Japan [Relation] cause [Effect] Business ethics risk",
    "gold": "[Cause] lacks final inspection protocol in Japan [Relation] cause [Effect] Nissan's involvement in emissions cheating and a recall",
    "valid": false
  },
  {
    "input": "The Grand Prix pipeline will reduce Targa's costs for NGLs, as it will no longer pay third-party tariffs to transport its NGLs to market.",
    "output": "[Cause] The Grand Prix pipeline [Relation] enable [Effect] reduce Targa's costs for NGLs",
    "gold": "[Cause] it will no longer pay third-party tariffs to transport its NGLs to market [Relation] cause [Effect] The Grand Prix pipeline will reduce Targa's costs for NGLs",
    "valid": false
  },
  {
    "input": "The Grand Prix pipeline will reduce Targa's costs for NGLs, as it will no longer pay third-party tariffs to transport its NGLs to market.",
    "output": "[Cause] The Grand Prix pipeline [Relation] enable [Effect] reduce Targa's costs for NGLs",
    "gold": "[Cause] The Grand Prix pipeline [Relation] enable [Effect] reduce Targa's costs for NGLs",
    "valid": true
  },
  {
    "input": "In our opinion, Nvidia tends to provide more reliable drivers for most games that allows gamers to take full advantage of its GPUs, while AMD is unable to match Nvidia in breadth and consistency of driver updates.",
    "output": "[Cause] Nvidia tends to provide more reliable drivers for most games [Relation] enable [Effect] allows gamers to take full advantage of its GPUs",
    "gold": "[Cause] Nvidia tends to provide more reliable drivers for most games that allows gamers to take full advantage of its GPUs [Relation] cause [Effect] AMD is unable to match Nvidia in breadth and consistency of driver updates",
    "valid": false
  },
  {
    "input": "Further, refining and processing margins are generally slim, so squeezing every possible drop of efficiency out of the assets is critical.",
    "output": "[Cause] refining and processing margins are generally slim [Relation] cause [Effect] squeezing every possible drop of efficiency out of the assets is critical",
    "gold": "[Cause] squeezing every possible drop of efficiency out of the assets is critical [Relation] cause [Effect] refining and processing margins are generally slim",
    "valid": false
  },
  {
    "input": "Positively, the need for dialysis clinics will not evaporate in that scenario since at-home patients need to be trained and monitored even if they don't receive treatment in the clinic.",
    "output": "[Cause] the need for dialysis clinics will not evaporate in that scenario [Relation] ensure [Effect] at-home patients need to be trained and monitored even if they don't receive treatment in the clinic",
    "gold": "[Cause] at-home patients need to be trained and monitored even if they don't receive treatment in the clinic [Relation] enable [Effect] , the need for dialysis clinics will not evaporate in that scenario",
    "valid": false
  },
  {
    "input": "We anticipate the average selling price for the company's core Invisalign products will continue to decrease because of increasing competition in the mature North America market as well as increased direct-to-consumer markets that have lower average price points.",
    "output": "[Cause] increasing competition in the mature North America market, increased direct-to-consumer markets that have lower average price points [Relation] cause [Effect] anticipate the average selling price for the company's core Invisalign products will continue to decrease",
    "gold": "[Cause] increasing competition in the mature North America market as well as increased direct-to-consumer markets that have lower average price points [Relation] cause [Effect] the average selling price for the company's core Invisalign products will continue to decrease",
    "valid": false
  },
  {
    "input": "While both Synopsys and Cadence provide an end-to-end flow of EDA solutions for the chip design process (Mentor is a little more specialized), customers tend to use different vendors for each stage of the design process. As a result, a business may use Synopsys for verification tools/digital design, Cadence for logic synthesis/analog chips, and Mentor for physical layout/verification.",
    "output": "[Cause] Different vendors for each stage of the design process [Relation] cause [Effect] Customers tend to use different vendors for each stage of the design process",
    "gold": "[Cause] While both Synopsys and Cadence provide an end-to-end flow of EDA solutions for the chip design process (Mentor is a little more specialized), customers tend to use different vendors for each stage of the design process [Relation] cause [Effect] a business may use Synopsys for verification tools/digital design, Cadence for logic synthesis/analog chips, and Mentor for physical layout/verification",
    "valid": false
  },
  {
    "input": "Although this international presence provides new growth opportunities, diversifies revenue, and damps cyclicality, it also exposes the company to foreign currency, economic, and other risks.",
    "output": "[Cause] international presence [Relation] cause [Effect] ",
    "gold": "[Cause] international presence [Relation] cause [Effect] provides new growth opportunities",
    "valid": false
  },
  {
    "input": "Although this international presence provides new growth opportunities, diversifies revenue, and damps cyclicality, it also exposes the company to foreign currency, economic, and other risks.",
    "output": "[Cause] international presence [Relation] enable [Effect] provides new growth opportunities, diversifies revenue, and damps cyclicality",
    "gold": "[Cause] international presence [Relation] enable [Effect] exposes the company to foreign currency",
    "valid": false
  },
  {
    "input": "And while Rogers historically had the top network, the evolution of a network sharing agreement between BCE and Telus closed the gap and resulted in them leapfrogging Rogers in many ''''best network'''' surveys.",
    "output": "[Cause] the evolution of a network sharing agreement between BCE and Telus [Relation] enable [Effect] resulted in them leapfrogging Rogers in many \"best network\" surveys",
    "gold": "[Cause] the evolution of a network sharing agreement between BCE and Telus closed the gap [Relation] cause [Effect] them leapfrogging Rogers in many ''''best network'''' surveys",
    "valid": false
  },
  {
    "input": "The Charter acquisition led to depressed returns on invested capital including goodwill, which declined to the midsingle digits in recent years.",
    "output": "[Cause] The Charter acquisition led to depressed returns on invested capital including goodwill [Relation] cause [Effect] goodwill declined to the midsingle digits in recent years",
    "gold": "[Cause] The Charter acquisition [Relation] cause [Effect] depressed returns on invested capital including goodwill",
    "valid": false
  },
  {
    "input": "The high quality of the company's operating performance translates directly into high midcycle returns on capital via the company's ability to charge premium prices on its services.",
    "output": "[Cause] the high quality of the company's operating performance [Relation] enable [Effect] high midcycle returns on capital",
    "gold": "[Cause] the company's ability to charge premium prices on its services [Relation] enable [Effect] The high quality of the company's operating performance translates directly into high midcycle returns on capital",
    "valid": false
  },
  {
    "input": "The firm has oriented itself to benefit from secular trends toward electrification, efficiency, and connectivity, and we think that investors will see meaningful top- and bottom-line growth as its end markets rebound from a couple years of soft demand.",
    "output": "[Cause] The firm has oriented itself to benefit from secular trends toward electrification, efficiency, and connectivity [Relation] enable [Effect] investors will see meaningful top- and bottom-line growth as its end markets rebound from a couple years of soft demand",
    "gold": "[Cause] its end markets rebound from a couple years of soft demand [Relation] cause [Effect] investors will see meaningful top- and bottom-line growth",
    "valid": false
  },
  {
    "input": "Murphy Oil repositioned itself as a pure-play exploration and production company in 2013, spinning off its retail gas station business and selling its U.K.",
    "output": "[Cause] Murphy Oil repositioned itself as a pure-play exploration and production company in 2013, spinning off its retail gas station business and selling its U.K. [Relation] unknown [Effect] unknown",
    "gold": "[Cause] spinning off its retail gas station business and selling its U.K. [Relation] cause [Effect] Murphy Oil repositioned itself as a pure-play exploration and production company in 2013",
    "valid": false
  },
  {
    "input": "In addition, given the fixed number of hours per day, higher usage and engagement on one social network could come at a cost to other social networks, reducing user engagement and the potential return on investment for advertisers.",
    "output": "[Cause] higher usage and engagement on one social network [Relation] cause [Effect] reducing user engagement and the potential return on investment for advertisers on other social networks",
    "gold": "[Cause] the fixed number of hours per day [Relation] cause [Effect] higher usage and engagement on one social network could come at a cost to other social networks",
    "valid": false
  },
  {
    "input": "If the firm is unable to effectively source and integrate new employees, it could stymie innovation and affect Paylocity's competitive positioning.",
    "output": "[Cause] the firm is unable to effectively source and integrate new employees [Relation] cause [Effect] stymie innovation and affect Paylocity's competitive positioning",
    "gold": "[Cause] the firm is unable to effectively source and integrate new employees [Relation] enable [Effect] stymie innovation and affect Paylocity's competitive positioning",
    "valid": true
  },
  {
    "input": "Weakness in the global economy could bode poorly for chip demand from industrial and automotive customers from time to time.",
    "output": "[Cause] Weakness in the global economy [Relation] cause [Effect] bode poorly for chip demand from industrial and automotive customers from time to time",
    "gold": "[Cause] Weakness in the global economy [Relation] cause [Effect] bode poorly for chip demand from industrial and automotive customers from time to time",
    "valid": true
  },
  {
    "input": "ADI and its chipmaking peers tend to profit from these high switching costs by having lower ongoing R&amp;D and capital expenditure investments than digital chipmakers, which helps to contribute to healthy returns on capital for shareholders.",
    "output": "[Cause] ADI and its chipmaking peers tend to profit from these high switching costs [Relation] enable [Effect] lower ongoing R&D and capital expenditure investments than digital chipmakers",
    "gold": "[Cause] ADI and its chipmaking peers tend to profit from these high switching costs by having lower ongoing R&amp;D and capital expenditure investments than digital chipmakers [Relation] enable [Effect] helps to contribute to healthy returns on capital for shareholders",
    "valid": false
  },
  {
    "input": "We then expect the company to leverage the cost item starting in 2022, driven by a recovery in travel demand and by the power of a more built out network.",
    "output": "[Cause] recovery in travel demand and a more built out network [Relation] enable [Effect] expect the company to leverage the cost item starting in 2022",
    "gold": "[Cause] a recovery in travel demand and by the power of a more built out network [Relation] enable [Effect] the company to leverage the cost item starting in 2022",
    "valid": false
  },
  {
    "input": "Its operational efficiency, network effect, and laser focus on customer service provide its marketplaces with sustainable competitive advantages that traditional retailers cannot match; this should yield additional market share gains in the years to come.",
    "output": "[Cause] operational efficiency, network effect, and laser focus on customer service [Relation] enable [Effect] provide its marketplaces with sustainable competitive advantages",
    "gold": "[Cause] Its operational efficiency, network effect, and laser focus on customer service [Relation] cause [Effect] its marketplaces with sustainable competitive advantages that traditional retailers cannot match",
    "valid": false
  },
  {
    "input": "Its operational efficiency, network effect, and laser focus on customer service provide its marketplaces with sustainable competitive advantages that traditional retailers cannot match; this should yield additional market share gains in the years to come.",
    "output": "[Cause] operational efficiency, network effect, and laser focus on customer service [Relation] provide [Effect] sustainable competitive advantages that traditional retailers cannot match",
    "gold": "[Cause] its marketplaces with sustainable competitive advantages that traditional retailers cannot match [Relation] enable [Effect] yield additional market share gains",
    "valid": false
  },
  {
    "input": "Despite the inevitable complexity of appealing to distinct local palates, we believe Monster's continued geographic diversification should augment its positioning.",
    "output": "[Cause] the inevitable complexity of appealing to distinct local palates [Relation] cause [Effect] Monster's continued geographic diversification should augment its positioning",
    "gold": "[Cause] Monster's continued geographic diversification [Relation] enable [Effect] augment its positioning",
    "valid": false
  },
  {
    "input": "When credit standards become tougher in a tightening cycle, financing services can make a difference for manufacturers to lock in those customers.",
    "output": "[Cause] credit standards become tougher in a tightening cycle [Relation] enable [Effect] financing services can make a difference for manufacturers to lock in those customers",
    "gold": "[Cause] credit standards become tougher in a tightening cycle [Relation] cause [Effect] financing services can make a difference for manufacturers to lock in those customers",
    "valid": true
  },
  {
    "input": "These competitive advantages have allowed the firm to maintain its technological edge through a large research and development budget and close relationships with customers to identify future needs in the PDC space.",
    "output": "[Cause] competitive advantages (including a large research and development budget and close relationships with customers) [Relation] enable [Effect] maintain its technological edge",
    "gold": "[Cause] These competitive advantages [Relation] enable [Effect] allowed the firm to maintain its technological edge through a large research and development budget and close relationships with customers to identify future needs in the PDC space",
    "valid": false
  },
  {
    "input": "As one of the world's leading volume producers, Volkswagen's economies of scale from common platforms across a growing number of models enable cost savings unattainable by smaller competitors.",
    "output": "[Cause] Volkswagen's economies of scale from common platforms across a growing number of models [Relation] enable [Effect] enable cost savings unattainable by smaller competitors",
    "gold": "[Cause] common platforms across a growing number of models [Relation] enable [Effect] Volkswagen's economies of scale",
    "valid": false
  },
  {
    "input": "As one of the world's leading volume producers, Volkswagen's economies of scale from common platforms across a growing number of models enable cost savings unattainable by smaller competitors.",
    "output": "[Cause] economies of scale from common platforms across a growing number of models [Relation] enable [Effect] cost savings unattainable by smaller competitors",
    "gold": "[Cause] Volkswagen's economies of scale [Relation] prevent [Effect] smaller competitors",
    "valid": false
  },
  {
    "input": "We believe smaller local and regional competitors will struggle to win market share in agriculture markets globally, allowing CNH Industrial to maintain its strong market share positions.",
    "output": "[Cause] smaller local and regional competitors will struggle to win market share in agriculture markets globally [Relation] enable [Effect] CNH Industrial to maintain its strong market share positions",
    "gold": "[Cause] smaller local and regional competitors [Relation] prevent [Effect] win market share in agriculture markets globally",
    "valid": false
  },
  {
    "input": "We believe smaller local and regional competitors will struggle to win market share in agriculture markets globally, allowing CNH Industrial to maintain its strong market share positions.",
    "output": "[Cause] smaller local and regional competitors will struggle to win market share in agriculture markets globally [Relation] cause [Effect] CNH Industrial to maintain its strong market share positions",
    "gold": "[Cause] smaller local and regional competitors will struggle to win market share in agriculture markets globally [Relation] enable [Effect] CNH Industrial to maintain its strong market share positions",
    "valid": true
  },
  {
    "input": "As mass merchants and online retailers have enhanced their consumer electronic product assortments and OEMs built out their own retail and direct-to-consumer channels, suppliers have become less dependent on Best Buy for distribution, in our view.",
    "output": "[Cause] mass merchants and online retailers have enhanced their consumer electronic product assortments and OEMs built out their own retail and direct-to-consumer channels [Relation] cause [Effect] suppliers have become less dependent on Best Buy for distribution",
    "gold": "[Cause] mass merchants and online retailers have enhanced their consumer electronic product assortments and OEMs built out their own retail and direct-to-consumer channels [Relation] cause [Effect] suppliers have become less dependent on Best Buy for distribution",
    "valid": true
  },
  {
    "input": "Meanwhile, we expect IP revenue to grow at a low-double digit rate, bolstered by a growth in chip customization as Moore's Law slows and chip designers seek to differentiate their products.",
    "output": "[Cause] as Moore's Law slows and chip designers seek to differentiate their products [Relation] enable [Effect] IP revenue to grow at a low-double digit rate, bolstered by a growth in chip customization",
    "gold": "[Cause] a growth in chip customization [Relation] cause [Effect] IP revenue to grow at a low-double digit rate",
    "valid": false
  },
  {
    "input": "First, NICE could face limitations to total addressable market (TAM) expansion and market share growth due to increased competition in the contact center space.",
    "output": "[Cause] increased competition in the contact center space [Relation] prevent [Effect] limitations to total addressable market (TAM) expansion and market share growth for NICE",
    "gold": "[Cause] increased competition in the contact center space [Relation] enable [Effect] NICE could face limitations to total addressable market (TAM) expansion and market share growth",
    "valid": false
  },
  {
    "input": "The current economic environment and the fallout from COVID-19 is a stark reminder of this, where corporate spending, consumer spending, and travel have all been curtailed, significantly affecting the company's revenue.",
    "output": "[Cause] the current economic environment and the fallout from COVID-19 [Relation] cause [Effect] corporate spending, consumer spending, and travel have all been curtailed, significantly affecting the company's revenue",
    "gold": "[Cause] corporate spending, consumer spending, and travel have all been curtailed [Relation] cause [Effect] affecting the company's revenue",
    "valid": false
  },
  {
    "input": "We see upside in margins for the F-35, as more sustainment enters the business mix as well and the potential to move to a more fixed-price contract as the aircraft becomes a major defense acquisition program.",
    "output": "[Cause] more sustainment enters the business mix | the potential to move to a more fixed-price contract [Relation] enable [Effect] upside in margins for the F-35",
    "gold": "[Cause] the aircraft becomes a major defense acquisition program [Relation] cause [Effect] the potential to move to a more fixed-price contract",
    "valid": false
  },
  {
    "input": "M&G could do with restoring the prestige of this asset-management part of the business and we think this would most likely be achieved by building a top-tier operation in institutional asset management.",
    "output": "[Cause] M&G could do with restoring the prestige of this asset-management part of the business [Relation] enable [Effect] building a top-tier operation in institutional asset management",
    "gold": "[Cause] be achieved by building a top-tier operation in institutional asset management [Relation] enable [Effect] M&G could do with restoring the prestige of this asset-management part of the business",
    "valid": false
  }
]