[
  {
    "input": "BB&T and SunTrust have completed their merger, forming Truist, which we believe will drive the next step up in profitability for the franchises.",
    "output": "[Cause] BB&T and SunTrust have completed their merger, forming Truist [Relation] enable [Effect] drive the next step up in profitability for the franchises",
    "gold": "[Cause] BB&T and SunTrust have completed their merger, forming Truist [Relation] enable [Effect] which we believe will drive the next step up in profitability for the franchises",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "Given Tulip's lack of profitability (management has stated the business was not profitable at the time of the October 2019 acquisition), we do not believe the business maintains a cost advantage.",
    "output": "[Cause] Tulip's lack of profitability [Relation] cause [Effect] we do not believe the business maintains a cost advantage",
    "gold": "[Cause] Given Tulip's lack of profitability (management has stated the business was not profitable at the time of the October 2019 acquisition) [Relation] enable [Effect] we do not believe the business maintains a cost advantage",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "That said, Wynn has recently renovated rooms and the gaming floor space at its peninsula property, which should help the facility maintain market share over the next few years.",
    "output": "[Cause] Wynn has recently renovated rooms and the gaming floor space at its peninsula property [Relation] enable [Effect] the facility maintain market share over the next few years",
    "gold": "[Cause] Wynn has recently renovated rooms and the gaming floor space at its peninsula property [Relation] enable [Effect] help the facility maintain market share over the next few years",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "We expect that management will continue to pursue acquisition targets with high levels of recurring revenue, which would further lower the cyclicality of Fortive's portfolio.",
    "output": "[Cause] management will continue to pursue acquisition targets with high levels of recurring revenue [Relation] cause [Effect] further lower the cyclicality of Fortive's portfolio",
    "gold": "[Cause]  management will continue to pursue acquisition targets with high levels of recurring revenue [Relation] prevent [Effect]  the cyclicality of Fortive's portfolio",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "We expect a primary growth driver to be the 20% of consumers willing to adjust their habits to benefit the environment, as Beyond's products emit 90% less greenhouse gases, require 93% less land, 99% less water, and 46% less energy to produce than their meat equivalents.",
    "output": "[Cause] Beyond's products emit 90% less greenhouse gases, require 93% less land, 99% less water, and 46% less energy to produce than their meat equivalents [Relation] cause [Effect] a primary growth driver to be the 20% of consumers willing to adjust their habits to benefit the environment",
    "gold": "[Cause]  Beyond's products emit 90% less greenhouse gases, require 93% less land, 99% less water, and 46% less energy to produce [Relation] cause [Effect]  the 20% of consumers willing to adjust their habits to benefit the environment",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "This is largely attributable to greater capital efficiency and business mix tilted toward credit cards. These high-yield loans drive the bank's exceptional net interest margins, which routinely exceed those of money center banks by 600 basis points.",
    "output": "[Cause] greater capital efficiency and business mix tilted toward credit cards [Relation] cause [Effect] These high-yield loans drive the bank's exceptional net interest margins, which routinely exceed those of money center banks by 600 basis points",
    "gold": "[Cause] This is largely attributable to greater capital efficiency and business mix tilted toward credit cards [Relation] cause [Effect] drive the bank's exceptional net interest margins, which routinely exceed those of money center banks by 600 basis points",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "As evidence that Gap lacks a competitive edge, its operating margins and returns on invested capital have declined since 2013.",
    "output": "[Cause] Gap lacks a competitive edge [Relation] cause [Effect] its operating margins and returns on invested capital have declined since 2013",
    "gold": "[Cause]  evidence that Gap lacks a competitive edge [Relation] enable [Effect]  its operating margins and returns on invested capital have declined since 2013",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "However, if people start opting to use debit cards rather than credit cards, this could eat into Discover's ability to generate interest income.",
    "output": "[Cause] people start opting to use debit cards rather than credit cards [Relation] cause [Effect] eat into Discover's ability to generate interest income",
    "gold": "[Cause]  people start opting to use debit cards [Relation] prevent [Effect] Discover's ability to generate interest income",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "Additionally, properties located in desirable submarkets with easy access to transportation, are near business districts, provide food and entertainment options, and have low crime statistics see higher demand that can translate to higher rents and higher growth.",
    "output": "[Cause] properties located in desirable submarkets with easy access to transportation, are near business districts, provide food and entertainment options, and have low crime statistics [Relation] cause [Effect] higher demand",
    "gold": "[Cause] properties located in desirable submarkets with easy access to transportation, are near business districts, provide food and entertainment options [Relation] cause [Effect] low crime statistics see higher demand",
    "valid": false,
    "tag": "substr_invalid"
  },
  {
    "input": "We still view Polaris as more seasonally and end-user diversified (it sells electric vehicles, military products, motorcycles, and more), so we think BRP's normalized operating margins could trail slightly behind.",
    "output": "[Cause] We still view Polaris as more seasonally and end-user diversified (it sells electric vehicles, military products, motorcycles, and more) [Relation] cause [Effect] BRP's normalized operating margins could trail slightly behind",
    "gold": "[Cause] We still view Polaris as more seasonally and end-user diversified [Relation] cause [Effect] BRP's normalized operating margins could trail slightly behind",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "The firm's gross margin is set to stabilize as Harley refocuses its efforts on more profitable markets, and our base case assumes that it stabilizes around 32% in 2029, helped by a more measured approach to entering new markets.",
    "output": "[Cause] a more measured approach to entering new markets [Relation] enable [Effect] stabilizes around 32% in 2029",
    "gold": "[Cause] a more measured approach to entering new markets [Relation] enable [Effect] it stabilizes around 32% in 2029",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "It is possible that these investments will not deliver expected returns, as the innovations may not resonate with consumers, who may choose to stick with more familiar brands.",
    "output": "[Cause] the innovations may not resonate with consumers, who may choose to stick with more familiar brands [Relation] cause [Effect] investments will not deliver expected returns",
    "gold": "[Cause]  the innovations may not resonate with consumers [Relation] cause [Effect]  these investments will not deliver expected returns",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "Cheniere is well positioned to be the exporter of the incremental liquefied natural gas supplied to the global market over the next few years, particularly as demand ramps up from China.",
    "output": "[Cause] demand ramps up from China [Relation] cause [Effect] Cheniere is well positioned to be the exporter of the incremental liquefied natural gas supplied to the global market over the next few years",
    "gold": "[Cause] demand ramps up from China [Relation] cause [Effect] Cheniere is well positioned to be the exporter of the incremental liquefied natural gas supplied",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "Further, Dish's relatively complex capital structure could create more uncertainty if the firm chose to cast off the subsidiary that holds the satellite business and carries most of its debt burden.",
    "output": "[Cause] the firm chose to cast off the subsidiary that holds the satellite business and carries most of its debt burden [Relation] cause [Effect] Dish's relatively complex capital structure could create more uncertainty",
    "gold": "[Cause] if the firm chose to cast off the subsidiary that holds the satellite business and carries most of its debt burden. [Relation] enable [Effect] Further, Dish's relatively complex capital structure could create more uncertainty",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "The Goldman Sachs name has brand recognition that provides a competitive advantage for garnering investment banking deals and recruiting top talent.",
    "output": "[Cause] The Goldman Sachs name has brand recognition [Relation] enable [Effect] provides a competitive advantage for garnering investment banking deals and recruiting top talent",
    "gold": "[Cause] brand recognition [Relation] cause [Effect] a competitive advantage for garnering investment banking deals and recruiting top talent",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "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 significant impact on the company's operating profits and cash flows.",
    "output": "[Cause] dramatic market movements or changes in fund flows [Relation] cause [Effect] have a significant impact on the company's operating profits and cash flows",
    "gold": "[Cause] ramatic market movements or changes in fund flows [Relation] cause [Effect] have a significant impact on the company's operating profits and cash flows",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "Intel's historical lead in process technology benefits from sizable R&D expenses (19% of revenue on average in recent years), which is critical to the firm's ability to sustain its advantage.",
    "output": "[Cause] sizable R&D expenses (19% of revenue on average in recent years) [Relation] enable [Effect] Intel's historical lead in process technology",
    "gold": "[Cause] sizable R&D expenses [Relation] enable [Effect] Intel's historical lead in process technology",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "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 track record of investment performance to start gathering assets but to build the scale necessary to be competitive.",
    "output": "[Cause] it takes time and skill to not only put together a long enough track record of investment performance to start gathering assets but to build the scale necessary to be competitive [Relation] cause [Effect] the barriers to entry are not significant for the industry, the barriers to success are extremely high",
    "gold": "[Cause] it takes time and skill to not only put together a long enough track 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,
    "tag": "substr_invalid"
  },
  {
    "input": "In Mexico (11% of sales), we expect sales will recover 9% in 2021 after a 5% drop in 2020 on material currency weakness and lower volume.",
    "output": "[Cause] a 5% drop in 2020 on material currency weakness and lower volume [Relation] cause [Effect] sales will recover 9% in 2021",
    "gold": "[Cause] material currency weakness and lower volume [Relation] cause [Effect] sales will recover 9% in 2021 after a 5% drop in 2020",
    "valid": false,
    "tag": "substr_invalid"
  },
  {
    "input": "We expect Crown to generate organic revenue growth of around 3.5% annually through 2025, owing to tepid growth in developed markets and moderate growth in emerging markets.",
    "output": "[Cause] tepid growth in developed markets and moderate growth in emerging markets [Relation] cause [Effect] We expect Crown to generate organic revenue growth of around 3.5% annually through 2025",
    "gold": "[Cause] tepid growth in developed markets and moderate growth in emerging markets [Relation] cause [Effect] Crown to generate organic revenue growth of around 3.5% annually through 2025",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "A pipeline network allows the midstream firm to optimize the flow of hydrocarbons across the system and capture geographic differentials; use storage facilities to capture price differentials over time; and direct more hydrocarbons through its system using storage, gathering, and processing assets; ensuring security of flows and higher fees.",
    "output": "[Cause] A pipeline network [Relation] enable [Effect] the midstream firm to optimize the flow of hydrocarbons across the system and capture geographic differentials; use storage facilities to capture price differentials over time; and direct more hydrocarbons through its system using storage, gathering, and processing assets; ensuring security of flows and higher fees",
    "gold": "[Cause] A pipeline network allows the midstream firm to optimize the flow of hydrocarbons across the system and capture geographic differentials; use storage facilities to capture price differentials over time; and direct more hydrocarbons through its system using storage, gathering, and processing assets [Relation] enable [Effect] ensuring security of flows and higher fees",
    "valid": false,
    "tag": "substr_invalid"
  },
  {
    "input": "In addition, as merchants become slightly more tech-savvy, they may become easier targets for companies such as Google that provide dashboards for variety of businesses for ad design, purchase, and placement.",
    "output": "[Cause] merchants become slightly more tech-savvy [Relation] cause [Effect] they may become easier targets for companies such as Google that provide dashboards for variety of businesses for ad design, purchase, and placement",
    "gold": "[Cause] merchants become slightly more tech-savvy [Relation] cause [Effect] they may become easier targets for companies such as Google",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "Given Atlassian's appeal to small teams at organizations of all sizes and the web-driven sales model for perpetual licenses and maintenance, our base assumption is that this is a long-tailed transition.",
    "output": "[Cause] Atlassian's appeal to small teams at organizations of all sizes and the web-driven sales model for perpetual licenses and maintenance [Relation] cause [Effect] this is a long-tailed transition",
    "gold": "[Cause] Atlassian's appeal to small teams at organizations of all sizes and the web-driven sales model for perpetual licenses and maintenanc [Relation] enable [Effect] long-tailed transition",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "It is also applying artificial intelligence and virtual and augmented reality technologies to various products, which may increase Facebook user engagement even further, helping to further generate attractive revenue growth from advertisers in the future.",
    "output": "[Cause] It is also applying artificial intelligence and virtual and augmented reality technologies to various products [Relation] enable [Effect] increase Facebook user engagement even further, helping to further generate attractive revenue growth from advertisers in the future",
    "gold": "[Cause] It is also applying artificial intelligence and virtual and augmented reality technologies to various products [Relation] enable [Effect] may increase Facebook user engagement even further, helping to further generate attractive revenue growth from advertisers in the future",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "Our margin forecast for Summit is milder than what we forecast for Martin Marietta and Vulcan, as its greater exposure to downstream activities weighs on margin expansion.",
    "output": "[Cause] its greater exposure to downstream activities weighs on margin expansion [Relation] cause [Effect] Our margin forecast for Summit is milder than what we forecast for Martin Marietta and Vulcan",
    "gold": "[Cause] downstream activities weighs on margin expansion [Relation] cause [Effect] margin forecast for Summit is milder than what we forecast for Martin Marietta and Vulcan",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "A diversified client base strengthens IQVIA's competitive advantage as small/midsize clients are likely to need full outsourcing solutions, while large pharmaceutical companies offer profitable preferred partnerships with high switching costs, choosing one or a few trusted CROs to which they funnel most of their new business.",
    "output": "[Cause] small/midsize clients are likely to need full outsourcing solutions [Relation] cause [Effect] A diversified client base strengthens IQVIA's competitive advantage",
    "gold": "[Cause] small/midsize clients are likely to need full outsourcing solutions, while large pharmaceutical companies offer profitable preferred partnerships with high switching costs, choosing one or a few trusted CROs to which they funnel most of their new business [Relation] cause [Effect] A diversified client base strengthens IQVIA's competitive advantage",
    "valid": false,
    "tag": "substr_invalid"
  },
  {
    "input": "We are lifting our valuation of Target to $151 per share from $138, reflecting exceptional first-quarter comparable sales (23% growth), offset somewhat by a higher long-term corporate tax rate assumption (26% statutory rate from 2022 versus 21% currently).",
    "output": "[Cause] a higher long-term corporate tax rate assumption (26% statutory rate from 2022 versus 21% currently) [Relation] cause [Effect] lifting our valuation of Target to $151 per share from $138",
    "gold": "[Cause] a higher long-term corporate tax rate assumption [Relation] prevent [Effect] lifting our valuation of Target to $151 per share from $138",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "NRG now serves substantially more retail load than its slimmed-down generation fleet can help serve, reducing the benefit of the retail-wholesale hedge.",
    "output": "[Cause] NRG now serves substantially more retail load than its slimmed-down generation fleet can help serve [Relation] cause [Effect] reducing the benefit of the retail-wholesale hedge",
    "gold": "[Cause] NRG now serves substantially more retail load than its slimmed-down generation fleet can help serve [Relation] prevent [Effect]  the benefit of the retail-wholesale hedge",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "Following first-quarter results, we raise our fair value estimate for Canadian National to USD 94 from USD 90 on the time value of money and the impact of foreign exchange on our USD-denominated fair value.",
    "output": "[Cause] the time value of money and the impact of foreign exchange on our USD-denominated fair value [Relation] cause [Effect] we raise our fair value estimate for Canadian National to USD 94 from USD 90",
    "gold": "[Cause]  on the time value of money and the impact of foreign exchange on our USD-denominated fair value [Relation] cause [Effect]  we raise our fair value estimate for Canadian National to USD 94 from USD 90",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "While housing starts alone should increase demand for gardening products, we see some secular trends that will offset the growth.",
    "output": "[Cause] some secular trends [Relation] prevent [Effect] the growth",
    "gold": "[Cause] some secular trends [Relation] enable [Effect] will offset the growth",
    "valid": false,
    "tag": "substr_invalid"
  },
  {
    "input": "This is because of the immense financial losses an upstart would incur while trying to amass the volume and density necessary to absorb the remarkably high capital outlays and fixed costs associated with a global parcel delivery network.",
    "output": "[Cause] the immense financial losses an upstart would incur while trying to amass the volume and density necessary to absorb the remarkably high capital outlays and fixed costs associated with a global parcel delivery network [Relation] cause [Effect] This is because of the immense financial losses",
    "gold": "[Cause]  amass the volume and density necessary to absorb the remarkably high capital outlays and fixed costs associated with a global parcel delivery network [Relation] cause [Effect]  immense financial losses",
    "valid": false,
    "tag": "substr_invalid"
  },
  {
    "input": "The NBCUniversal acquisition has added shareholder value, in our view, through a combination of a reasonable purchase price and strong execution.",
    "output": "[Cause] a combination of a reasonable purchase price and strong execution [Relation] enable [Effect] The NBCUniversal acquisition has added shareholder value",
    "gold": "[Cause] combination of a reasonable purchase price and strong execution [Relation] enable [Effect] acquisition has added shareholder value",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "As a result, Veoneer has a high degree of operating leverage, so sudden declines in volume have a meaningful negative impact on short-term profitability.",
    "output": "[Cause] Veoneer has a high degree of operating leverage [Relation] cause [Effect] sudden declines in volume have a meaningful negative impact on short-term profitability",
    "gold": "[Cause] , Veoneer has a high degree of operating leverage [Relation] enable [Effect]  sudden declines in volume have a meaningful negative impact on short-term profitability",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "Also, the price wars that hit the market following regulatory reform and AT&T's entrance have hurt third-place carrier Telefonica particularly hard, prompting the firm to effectively exit the market in 2019 as a facilities-based operator.",
    "output": "[Cause] the price wars that hit the market following regulatory reform and AT&T's entrance have hurt third-place carrier Telefonica particularly hard [Relation] cause [Effect] the firm to effectively exit the market in 2019 as a facilities-based operator",
    "gold": "[Cause] the price wars that hit the market following regulatory reform and AT&T's entrance [Relation] enable [Effect] prompting the firm to effectively exit the market in 2019 as a facilities-based operator",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "We are increasing our fair value estimate for Duke Realty to $33 per share from $31 due to an improved near-term outlook amid positive performance from the industrial real estate industry despite the coronavirus crisis.",
    "output": "[Cause] an improved near-term outlook amid positive performance from the industrial real estate industry despite the coronavirus crisis [Relation] cause [Effect] We are increasing our fair value estimate for Duke Realty to $33 per share from $31",
    "gold": "[Cause] an improved near-term outlook amid positive performance from the industrial real estate industry [Relation] cause [Effect] We are increasing our fair value estimate for Duke Realty",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "We expect earnings to grow at a faster pace than revenue due to margin expansion and capital allocation activities.",
    "output": "[Cause] margin expansion and capital allocation activities [Relation] cause [Effect] earnings to grow at a faster pace than revenue",
    "gold": "[Cause] margin expansion and capital allocation activities [Relation] enable [Effect] We expect earnings to grow at a faster pace than revenue",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "For instance, Neva, an attended RPA product, monitors agents' desktop activities, identifies repetitive processes which can be automated, and frees up agents from routine tasks so they can focus on the most important activity- servicing the customer.",
    "output": "[Cause] Neva, an attended RPA product, monitors agents' desktop activities, identifies repetitive processes which can be automated, and frees up agents from routine tasks [Relation] enable [Effect] focus on the most important activity- servicing the customer",
    "gold": "[Cause] an attended RPA product, monitors agents' desktop activities, identifies repetitive processes which can be automated, [Relation] enable [Effect]  they can focus on the most important activity- servicing the customer.",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "We also like management's aggressive effort to drive penetration, limiting price increases, improving customer service, and expanding its offerings to appeal to a variety of customer preferences.",
    "output": "[Cause] management's aggressive effort to drive penetration [Relation] cause [Effect] limiting price increases, improving customer service, and expanding its offerings to appeal to a variety of customer preferences",
    "gold": "[Cause] management's aggressive effort [Relation] enable [Effect] drive penetration, limiting price increases, improving customer service, and expanding its offerings to appeal to a variety of customer preferences",
    "valid": false,
    "tag": "substr_invalid"
  },
  {
    "input": "Management favors owned stores over franchised locations for growth, which should restrain margins given the low cost associated with franchise royalties (worthwhile as Valvoline will capture more service-related profit dollars), so we expect long-term segment adjusted EBITDA margins near fiscal 2020's 24% despite growing scale.",
    "output": "[Cause] Management favors owned stores over franchised locations for growth, which should restrain margins given the low cost associated with franchise royalties (worthwhile as Valvoline will capture more service-related profit dollars) [Relation] cause [Effect] long-term segment adjusted EBITDA margins near fiscal 2020's 24% despite growing scale",
    "gold": "[Cause] Management favors owned stores over franchised locations for growth [Relation] cause [Effect] we expect long-term segment adjusted EBITDA margins near fiscal 2020's 24% despite growing scale",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "We expect the additional compute@edge feature will contribute to Fastly's existing customers continuing to increase their spending levels with the firm.",
    "output": "[Cause] the additional compute@edge feature [Relation] enable [Effect] Fastly's existing customers continuing to increase their spending levels with the firm",
    "gold": "[Cause]  the additional compute@edge feature [Relation] enable [Effect] increase their spending levels with the firm",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "In Texas, slowing electricity growth or a continued surge in renewable energy growth could cut into NRG's wholesale generation earnings.",
    "output": "[Cause] slowing electricity growth or a continued surge in renewable energy growth [Relation] prevent [Effect] cut into NRG's wholesale generation earnings",
    "gold": "[Cause] slowing electricity growth or a continued surge in renewable energy growth [Relation] prevent [Effect] NRG's wholesale generation earnings",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "With less investment in new towers, which typically have significantly fewer tenants per tower, revenue growth on towers will be primarily from co-locations, amendments, and escalators, which will mostly drop straight to the bottom line.",
    "output": "[Cause] less investment in new towers, which typically have significantly fewer tenants per tower [Relation] cause [Effect] revenue growth on towers will be primarily from co-locations, amendments, and escalators, which will mostly drop straight to the bottom line",
    "gold": "[Cause]  less investment in new towers, which typically have significantly fewer tenants per tower, revenue growth on towers [Relation] cause [Effect]  co-locations, amendments, and escalators, which will mostly drop straight to the bottom line",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "However, the pandemic also accelerated the broader e-commerce shift (likely by many years), and heavy online fulfullment demand drove a surge in UPS' B2C package volumes.",
    "output": "[Cause] the pandemic [Relation] cause [Effect] accelerated the broader e-commerce shift",
    "gold": "[Cause] the pandemic [Relation] cause [Effect] accelerated the broader e-commerce shift (likely by many years)",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "However, the pandemic also accelerated the broader e-commerce shift (likely by many years), and heavy online fulfullment demand drove a surge in UPS' B2C package volumes.",
    "output": "[Cause] heavy online fulfullment demand [Relation] cause [Effect] a surge in UPS' B2C package volumes",
    "gold": "[Cause] heavy online fulfullment [Relation] cause [Effect]  drove a surge in UPS' B2C package volumes",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "The most significant ESG risk for the natural gas distribution businesses is from the potential for a gas explosion and fire.",
    "output": "[Cause] the potential for a gas explosion and fire [Relation] cause [Effect] The most significant ESG risk for the natural gas distribution businesses",
    "gold": "[Cause] the potential for a gas explosion and fire [Relation] cause [Effect] most significant ESG risk for the natural gas distribution businesses",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "Being omnipresent across most customer channels and product lines has cemented the firm's position as a go-to reliable supplier, likely garnering it greater wallet share going forward.",
    "output": "[Cause] Being omnipresent across most customer channels and product lines [Relation] enable [Effect] cemented the firm's position as a go-to reliable supplier",
    "gold": "[Cause] Being omnipresent across most customer channels and product lines [Relation] enable [Effect] the firm's position as a go-to reliable supplier",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "Not only do robust aftermarket sales make revenue less cyclical, they also reduce Pentair's reliance on new construction starts, as the bulk of revenue is derived from the large existing market of over 5 million swimming pools in the U.S.",
    "output": "[Cause] the bulk of revenue is derived from the large existing market of over 5 million swimming pools in the U.S [Relation] cause [Effect] robust aftermarket sales make revenue less cyclical, they also reduce Pentair's reliance on new construction starts",
    "gold": "[Cause] as the bulk of revenue is derived from the large existing market of over 5 million swimming pools in the U.S [Relation] cause [Effect] Not only do robust aftermarket sales make revenue less cyclical, they also reduce Pentair's reliance on new construction starts",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "While the last mile tends to be the most expensive, the Wayfair process reduces the number of touches between order and delivery, decreasing delivery time and reducing damage risk offsetting other potential expenses.",
    "output": "[Cause] the Wayfair process reduces the number of touches between order and delivery [Relation] cause [Effect] decreasing delivery time and reducing damage risk offsetting other potential expenses",
    "gold": "[Cause] the Wayfair process [Relation] enable [Effect]  reduces the number of touches between order and delivery, decreasing delivery time and reducing damage risk offsetting other potential expenses",
    "valid": false,
    "tag": "substr_invalid"
  },
  {
    "input": "Military contracts are more secretive than commercial, and a potential new entrant would not be able to easily access this market due to a lack of knowledge of the available opportunities with prime contractors.",
    "output": "[Cause] a lack of knowledge of the available opportunities with prime contractors [Relation] cause [Effect] Military contracts are more secretive than commercial, and a potential new entrant would not be able to easily access this market",
    "gold": "[Cause] a lack of knowledge of the available opportunities with prime contractors [Relation] cause [Effect]  a potential new entrant would not be able to easily access this market",
    "valid": false,
    "tag": "substr_invalid"
  },
  {
    "input": "Fastly has a more modern approach to running a content delivery network (CDN) that enables it to offer equivalent or superior service, depending on the task, with fewer points of presence (PoPs) and less commitment of capital.",
    "output": "[Cause] Fastly has a more modern approach to running a content delivery network (CDN) [Relation] enable [Effect] it to offer equivalent or superior service, depending on the task, with fewer points of presence (PoPs) and less commitment of capital",
    "gold": "[Cause] Fastly has a more modern approach to running a content delivery network [Relation] enable [Effect] offer equivalent or superior service",
    "valid": false,
    "tag": "substr_invalid"
  },
  {
    "input": "A critical assumption we're making is that United Airlines will permanently improve its cost structure by cutting labor overhead during the crisis.",
    "output": "[Cause] cutting labor overhead during the crisis [Relation] enable [Effect] permanently improve its cost structure",
    "gold": "[Cause] cutting labor overhead during the crisis [Relation] enable [Effect] United Airlines will permanently improve its cost structure",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "The firm is also expected to benefit from Virtual Reality, however, a shift to mobile gaming VR over PC VR could curb these opportunities, as Nvidia's GPUs aren't formidable in smartphones.",
    "output": "[Cause] Nvidia's GPUs aren't formidable in smartphones [Relation] cause [Effect] a shift to mobile gaming VR over PC VR could curb these opportunities",
    "gold": "[Cause]  Nvidia's GPUs aren't formidable in smartphones [Relation] prevent [Effect] shift to mobile gaming VR over PC VR could curb these opportunities",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "The company's extensive store and distribution network forms the heart of the firm's cost advantage versus smaller peers that cannot match O'Reilly's inventory flexibility.",
    "output": "[Cause] The company's extensive store and distribution network [Relation] enable [Effect] the heart of the firm's cost advantage versus smaller peers that cannot match O'Reilly's inventory flexibility",
    "gold": "[Cause] The company's extensive store and distribution network [Relation] enable [Effect] the heart of the firm's cost advantage",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "As a fully integrated waste hauler, it leverages a vast network of collection routes and transfer stations, which bestow significant control over the waste stream, funneling trash from commercial, industrial, and residential end markets into its landfills.",
    "output": "[Cause] it leverages a vast network of collection routes and transfer stations [Relation] enable [Effect] bestow significant control over the waste stream, funneling trash from commercial, industrial, and residential end markets into its landfills",
    "gold": "[Cause] leverages a vast network of collection routes and transfer stations [Relation] enable [Effect] residential end markets into its landfills",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "If demand for third-party data centers weakens for any reason, Equinix would find itself with too much capacity and a weakened cost profile.",
    "output": "[Cause] demand for third-party data centers weakens for any reason [Relation] cause [Effect] Equinix would find itself with too much capacity and a weakened cost profile",
    "gold": "[Cause] If demand for third-party data centers weakens for any reason [Relation] cause [Effect] Equinix would find itself with too much capacity and a weakened cost profile",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "Annual contractual price reductions for OEM customers are an auto industry norm, so Tenneco has to aggressively employ kaizen, kanban, and Six Sigma lean manufacturing programs to advance cost savings.",
    "output": "[Cause] Annual contractual price reductions for OEM customers are an auto industry norm [Relation] cause [Effect] Tenneco has to aggressively employ kaizen, kanban, and Six Sigma lean manufacturing programs to advance cost savings",
    "gold": "[Cause] Annual contractual price reductions [Relation] cause [Effect] advance cost savings",
    "valid": false,
    "tag": "substr_invalid"
  },
  {
    "input": "As a result of the acquisition of the legacy Caesars business by Eldorado (closed July 2020), we estimate Caesars holds more than a 10% revenue share of the domestic casino gaming market (which represents around 100% of its total EBITDA).",
    "output": "[Cause] the acquisition of the legacy Caesars business by Eldorado [Relation] cause [Effect] Caesars holds more than a 10% revenue share of the domestic casino gaming market",
    "gold": "[Cause] the acquisition of the legacy Caesars business by Eldorado (closed July 2020) [Relation] cause [Effect] Caesars holds more than a 10% revenue share of the domestic casino gaming market (which represents around 100% of its total EBITDA)",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "At their core, they both run machines and ensure efficiencies, as well as other operational performance metrics, through control systems. These involve a system of motors, sensors, and microprocessors that power equipment and simultaneously feed back key measurements into ABB's control software.",
    "output": "[Cause] a system of motors, sensors, and microprocessors that power equipment and simultaneously feed back key measurements into ABB's control software [Relation] enable [Effect] they both run machines and ensure efficiencies, as well as other operational performance metrics, through control systems",
    "gold": "[Cause] These involve a system of motors, sensors, and microprocessors that power equipment and simultaneously feed back key measurements into ABB's control software [Relation] enable [Effect] At their core, they both run machines and ensure efficiencies, as well as other operational performance metrics, through control systems",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "Although near-term pricing has recently strengthened due to carbon pricing, our long-term view of Alberta power prices remains bearish due in part to limits on pipeline capacity to move natural gas out of Alberta.",
    "output": "[Cause] limits on pipeline capacity to move natural gas out of Alberta [Relation] cause [Effect] our long-term view of Alberta power prices remains bearish",
    "gold": "[Cause] part to limits on pipeline capacity to move natural gas out of Alberta [Relation] cause [Effect] our long-term view of Alberta power prices remains bearish",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "We believe that RingCentral's UCaaS offers a strong value proposition and plays a critical role (in both internal and external communications) in the daily workflow of employees that will allow it to earn excess returns for the next decade.",
    "output": "[Cause] RingCentral's UCaaS offers a strong value proposition and plays a critical role (in both internal and external communications) in the daily workflow of employees [Relation] enable [Effect] it to earn excess returns for the next decade",
    "gold": "[Cause] RingCentral's UCaaS offers a strong value proposition and plays a critical role (in both internal and external communications) in the daily workflow of employees [Relation] enable [Effect] earn excess returns for the next decade",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "Cummins' brand familiarity of more than a century and ability to continually provide innovative products has materialized into a leading market position, despite a continually changing industry landscape.",
    "output": "[Cause] Cummins' brand familiarity of more than a century and ability to continually provide innovative products [Relation] enable [Effect] a leading market position",
    "gold": "[Cause] Cummins' brand familiarity of more than a century and ability to continually provide innovative products [Relation] enable [Effect] a leading market position,",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "The value of a CDN is enhanced the wider it gets, so being at the edge of more networks greatly improves the service.",
    "output": "[Cause] The value of a CDN is enhanced the wider it gets [Relation] cause [Effect] being at the edge of more networks greatly improves the service",
    "gold": "[Cause] The value of a CDN is enhanced the wider it get [Relation] cause [Effect] being at the edge of more networks greatly improves the service",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "As vaccine availability rises, we expect economic conditions to normalize, with Americans increasing their spending on pandemic-affected categories like restaurants and reversing some of grocery's fiscal 2020 sales surge. As a result, we expect Kroger to post a low- to mid-single-digit percentage decline in its identical sales (excluding fuel) in fiscal 2021.",
    "output": "[Cause] vaccine availability rises, we expect economic conditions to normalize, with Americans increasing their spending on pandemic-affected categories like restaurants and reversing some of grocery's fiscal 2020 sales surge [Relation] cause [Effect] Kroger to post a low- to mid-single-digit percentage decline in its identical sales (excluding fuel) in fiscal 2021",
    "gold": "[Cause] economic conditions to normalize, with Americans increasing their spending on pandemic-affected categories like restaurants and reversing some of grocery's fiscal 2020 sales surge [Relation] cause [Effect] Kroger to post a low- to mid-single-digit percentage decline in its identical sales (excluding fuel) in fiscal 2021",
    "valid": false,
    "tag": "substr_invalid"
  },
  {
    "input": "We believe the combination of strong pricing and production efficiencies allow Hanes to maintain operating margins above 20% for its American innerwear business despite somewhat inconsistent sales.",
    "output": "[Cause] the combination of strong pricing and production efficiencies [Relation] enable [Effect] Hanes to maintain operating margins above 20% for its American innerwear business",
    "gold": "[Cause] We believe the combination of strong pricing and production efficiencies [Relation] enable [Effect] allow Hanes to maintain operating margins above 20% for its American innerwear business despite somewhat inconsistent sales",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "Against pre-pandemic fiscal 2019 numbers, we expect low-double-digit percentage revenue growth for the rest of fiscal 2021, driven by rising apparel sales as Americans update their wardrobes as activity outside the home increases.",
    "output": "[Cause] rising apparel sales as Americans update their wardrobes as activity outside the home increases [Relation] cause [Effect] low-double-digit percentage revenue growth for the rest of fiscal 2021",
    "gold": "[Cause] Americans update their wardrobes as activity outside the home increases [Relation] cause [Effect] Against pre-pandemic fiscal 2019 numbers, we expect low-double-digit percentage revenue growth for the rest of fiscal 2021, driven by rising apparel sales",
    "valid": false,
    "tag": "substr_invalid"
  },
  {
    "input": "In January 2012, Iliad launched as France's fourth wireless network and has priced aggressively, disrupting the cozy relationship Orange, Bouygues, and SFR had maintained.",
    "output": "[Cause] Iliad launched as France's fourth wireless network and has priced aggressively [Relation] prevent [Effect] the cozy relationship Orange, Bouygues, and SFR had maintained",
    "gold": "[Cause] Iliad launched as France's fourth wireless network and has priced aggressively [Relation] cause [Effect] disrupting the cozy relationship Orange, Bouygues, and SFR had maintained",
    "valid": false,
    "tag": "substr_invalid"
  },
  {
    "input": "A switch in consumer spending patterns toward home improvement activity during the coronavirus pandemic has provided Kingfisher a degree of defensiveness, where we forecast sales to decline by a mere 2% during the current year.",
    "output": "[Cause] A switch in consumer spending patterns toward home improvement activity during the coronavirus pandemic [Relation] enable [Effect] provided Kingfisher a degree of defensiveness",
    "gold": "[Cause] A switch in consumer spending patterns toward home improvement activity during the coronavirus pandemic [Relation] enable [Effect] Kingfisher a degree of defensiveness",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "We expect the parks to rebound after the pandemic ends as families will still view the parks as a prime vacation destination.",
    "output": "[Cause] families will still view the parks as a prime vacation destination [Relation] cause [Effect] the parks to rebound after the pandemic ends",
    "gold": "[Cause] families will still view the parks as a prime vacation destination [Relation] cause [Effect] We expect the parks to rebound after the pandemic ends",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "The firm is relying on a network usage agreement with T-Mobile while it builds its own networks, leaving it in a position where it will likely have to compete on price to attract customers.",
    "output": "[Cause] The firm is relying on a network usage agreement with T-Mobile while it builds its own networks [Relation] cause [Effect] it in a position where it will likely have to compete on price to attract customers",
    "gold": "[Cause] The firm is relying on a network usage agreement with T-Mobile while it builds its own networks [Relation] cause [Effect]  leaving it in a position where it will likely have to compete on price to attract customers",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "Waste per capita has been growing, while governments are increasingly regulating the space to mitigate illegal dumping, and environmental regulation, in tandem with general infrastructure and other government spending should continue to drive value-accretive growth for years to come.",
    "output": "[Cause] Waste per capita has been growing, while governments are increasingly regulating the space to mitigate illegal dumping, and environmental regulation, in tandem with general infrastructure and other government spending [Relation] enable [Effect] drive value-accretive growth for years to come",
    "gold": "[Cause] Waste per capita has been growing [Relation] cause [Effect] governments are increasingly regulating the space to mitigate illegal dumping, and environmental regulation, in tandem with general infrastructure and other government spending should continue to drive value-accretive growth for years to come",
    "valid": false,
    "tag": "substr_invalid"
  },
  {
    "input": "Product availability has been more than adequate for decades, and we expect the company's scale to give it access to the most attractive opportunities as its long history and established, national presence attract vendors.",
    "output": "[Cause] its long history and established, national presence attract vendors [Relation] cause [Effect] the company's scale to give it access to the most attractive opportunities",
    "gold": "[Cause] long history and established, national presence attract vendors [Relation] enable [Effect] the company's scale to give it access to the most attractive opportunities",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "Excluding pandemic-related production disruption in 2021, we expect gross margins to improve by about 35 basis points annually over the next several years, driven by improved product mix and supply chain cost savings.",
    "output": "[Cause] improved product mix and supply chain cost savings [Relation] cause [Effect] gross margins to improve by about 35 basis points annually over the next several years",
    "gold": "[Cause] improved product mix and supply chain cost savings [Relation] cause [Effect] we expect gross margins to improve by about 35 basis points annually over the next several years",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "We contend that Kroger's ability to leverage distribution costs, investments in omnichannel offerings, and supply chain capabilities should allow it to continue to outperform its pure-play rivals.",
    "output": "[Cause] Kroger's ability to leverage distribution costs, investments in omnichannel offerings, and supply chain capabilities [Relation] enable [Effect] it to continue to outperform its pure-play rivals",
    "gold": "[Cause]  investments in omnichannel offerings [Relation] cause [Effect]  continue to outperform its pure-play rivals",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "We contend that Kroger's ability to leverage distribution costs, investments in omnichannel offerings, and supply chain capabilities should allow it to continue to outperform its pure-play rivals.",
    "output": "[Cause] Kroger's ability to leverage distribution costs, investments in omnichannel offerings, and supply chain capabilities [Relation] enable [Effect] it to continue to outperform its pure-play rivals",
    "gold": "[Cause] supply chain capabilities [Relation] cause [Effect]  continue to outperform its pure-play rivals",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "We think the main determinants of the bank's future success will be the interest-rate environment, the ability to maintain and improve operational efficiency, and the capacity to control credit costs.",
    "output": "[Cause] the interest-rate environment, the ability to maintain and improve operational efficiency, and the capacity to control credit costs [Relation] cause [Effect] the bank's future success",
    "gold": "[Cause] the interest-rate environment |  the ability to maintain and improve operational efficiency |  the capacity to control credit costs. [Relation] cause [Effect] the bank's future success",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "The removal of the franc's peg against the euro in 2015 enhanced the franc's attractiveness as a portfolio diversification tool to minimise risk.",
    "output": "[Cause] The removal of the franc's peg against the euro in 2015 [Relation] enable [Effect] enhanced the franc's attractiveness as a portfolio diversification tool to minimise risk",
    "gold": "[Cause] The removal of the franc's peg against the euro in 2015 enhanced the franc's attractiveness [Relation] cause [Effect] portfolio diversification tool to minimise risk",
    "valid": false,
    "tag": "substr_invalid"
  },
  {
    "input": "Customers have little incentive to switch to another equipment supplier because of the costs to retrain healthcare workers, and they can be reluctant to change a process that's working effectively.",
    "output": "[Cause] the costs to retrain healthcare workers [Relation] cause [Effect] Customers have little incentive to switch to another equipment supplier",
    "gold": "[Cause]  the costs to retrain healthcare workers, and they can be reluctant to change a process that's working effectively [Relation] cause [Effect] Customers have little incentive to switch to another equipment supplier",
    "valid": false,
    "tag": "substr_invalid"
  },
  {
    "input": "As with all regulated utilities, WEC Energy Group faces the risk of an inflationary environment that would raise borrowing costs and make other investments more attractive for income-seeking investors.",
    "output": "[Cause] WEC Energy Group faces the risk of an inflationary environment [Relation] cause [Effect] raise borrowing costs and make other investments more attractive for income-seeking investors",
    "gold": "[Cause] the risk of an inflationary environment [Relation] cause [Effect] raise borrowing costs and make other investments more attractive for income-seeking investors",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "As a result, we have further reduced our 2020 earnings per-share estimate to a more than $16 per-share loss (from a more than $15 loss prior), as COVID-19 has pushed Royal's initial domestic sail date back to Jan.",
    "output": "[Cause] COVID-19 has pushed Royal's initial domestic sail date back to Jan [Relation] cause [Effect] we have further reduced our 2020 earnings per-share estimate to a more than $16 per-share loss (from a more than $15 loss prior)",
    "gold": "[Cause] COVID-19 has pushed Royal's initial domestic sail date back to Jan [Relation] cause [Effect] further reduced our 2020 earnings per-share estimate to a more than $16 per-share loss",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "Within the life sciences field, we find that end market particularly attractive given its strong growth trajectory, high margins, and high switching costs associated with regulatory and reproducibility concerns of end users.",
    "output": "[Cause] its strong growth trajectory, high margins, and high switching costs associated with regulatory and reproducibility concerns of end users [Relation] cause [Effect] end market particularly attractive",
    "gold": "[Cause]  its strong growth trajectory, high margins, and high switching costs associated with regulatory and reproducibility concerns of end users [Relation] enable [Effect] we find that end market particularly attractive",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "The replenishment of new drugs is finally offsetting the recent patent losses on gastrointestinal drug Nexium and cholesterol reducer Crestor that have weighed on the company's growth potential.",
    "output": "[Cause] The replenishment of new drugs [Relation] prevent [Effect] the recent patent losses on gastrointestinal drug Nexium and cholesterol reducer Crestor that have weighed on the company's growth potential",
    "gold": "[Cause] The replenishment of new drugs is finally offsetting the recent patent losses on gastrointestinal drug Nexium and cholesterol reducer Crestor [Relation] prevent [Effect] weighed on the company's growth potential",
    "valid": false,
    "tag": "substr_invalid"
  },
  {
    "input": "We think Jack Henry's competitive position is a little weaker on this side, given its relative lack of scale, but at this point see this is a one-time issue and believe the company is closing in on the end of this effort.",
    "output": "[Cause] its relative lack of scale [Relation] cause [Effect] Jack Henry's competitive position is a little weaker on this side",
    "gold": "[Cause] given its relative lack of scale [Relation] cause [Effect]  competitive position is a little weaker on this side",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "The $1.7 billion acquisition of Novartis' blood and plasma diagnostics business in 2014 (and the $1.85 billion acquisition of partner Hologic's share of this business in 2017) complements Grifols' plasma business, locking in a dominant market share in blood and plasma testing in the United States.",
    "output": "[Cause] The $1.7 billion acquisition of Novartis' blood and plasma diagnostics business in 2014 (and the $1.85 billion acquisition of partner Hologic's share of this business in 2017) complements Grifols' plasma business [Relation] enable [Effect] locking in a dominant market share in blood and plasma testing in the United States",
    "gold": "[Cause] The $1.7 billion acquisition of Novartis' blood and plasma [Relation] cause [Effect] complements Grifols' plasma business, locking in a dominant market share in blood and plasma testing in the United States",
    "valid": false,
    "tag": "substr_invalid"
  },
  {
    "input": "The professional segment is recovering but renewed stay-at-home orders in the event of the emergence of vaccine-resistant strains could derail progress.",
    "output": "[Cause] renewed stay-at-home orders in the event of the emergence of vaccine-resistant strains [Relation] prevent [Effect] progress",
    "gold": "[Cause] renewed stay-at-home orders in the event of the emergence of vaccine-resistant strains [Relation] cause [Effect] derail progress",
    "valid": false,
    "tag": "substr_invalid"
  },
  {
    "input": "Large quantities of deferred revenue exist because many software businesses receive cash far in advance of when services are rendered.",
    "output": "[Cause] many software businesses receive cash far in advance of when services are rendered [Relation] cause [Effect] Large quantities of deferred revenue exist",
    "gold": "[Cause] many software businesses receive cash far in advance of when services are rendered [Relation] cause [Effect] Large quantities of deferred revenue exis",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "We think that net interest margins will be under pressure for years, as rates stay low for some time, with balance sheet growth being the primary lever for net interest income growth for some time.",
    "output": "[Cause] rates stay low for some time, with balance sheet growth being the primary lever for net interest income growth for some time [Relation] cause [Effect] net interest margins will be under pressure for years",
    "gold": "[Cause]  rates stay low for some time [Relation] cause [Effect] net interest margins will be under pressure for years",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "According to Cooper, the four largest players (Johnson & Johnson, Novartis, Cooper, and Valeant) control approximately 97% of the global market, and industry regulation creates strong barriers to entry, keeping new entrants away.",
    "output": "[Cause] industry regulation creates strong barriers to entry [Relation] cause [Effect] keeping new entrants away",
    "gold": "[Cause] According to Cooper, the four largest players (Johnson & Johnson, Novartis, Cooper, and Valeant) control approximately 97% of the global market, and industry regulation creates strong barriers to entry [Relation] cause [Effect] keeping new entrants away",
    "valid": false,
    "tag": "substr_invalid"
  },
  {
    "input": "All else equal, we'd expect AT&amp;T to earn roughly its cost of capital on this acquisition, with future growth offset in part by the increase in competition for content resulting from the rise of Netflix and other new platforms.",
    "output": "[Cause] the increase in competition for content resulting from the rise of Netflix and other new platforms [Relation] prevent [Effect] future growth",
    "gold": "[Cause] the increase in competition for content resulting from the rise of Netflix and other new platforms [Relation] cause [Effect] future growth offset in part",
    "valid": false,
    "tag": "substr_invalid"
  },
  {
    "input": "As with most integrated oil firms, a deteriorating outlook for oil and natural gas prices would pressure Ovintiv's profitability, reduce cash flows, and drive up financial leverage.",
    "output": "[Cause] a deteriorating outlook for oil and natural gas prices [Relation] cause [Effect] pressure Ovintiv's profitability, reduce cash flows, and drive up financial leverage",
    "gold": "[Cause] a deteriorating outlook for oil and natural gas prices [Relation] prevent [Effect] Ovintiv's profitability, reduce cash flows, and drive up financial leverage",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "Parker's sealing solutions are highly engineered products based on proprietary materials and are designed to keep tight tolerance and resist higher temperatures.",
    "output": "[Cause] Parker's sealing solutions are highly engineered products based on proprietary materials [Relation] enable [Effect] keep tight tolerance and resist higher temperatures",
    "gold": "[Cause] Parker's sealing solutions are highly engineered products based on proprietary materials and are designed [Relation] enable [Effect]  to keep tight tolerance and resist higher temperatures",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "The changing perception toward benign hysterectomy will most likely cause dVH to struggle to expand its penetration rate beyond current levels in the U.S.",
    "output": "[Cause] The changing perception toward benign hysterectomy [Relation] cause [Effect] dVH to struggle to expand its penetration rate beyond current levels in the U.S",
    "gold": "[Cause] The changing perception toward benign hysterectomy [Relation] cause [Effect] dVH to struggle to expand its penetration rate beyond current levels in the U.S.",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "The social networking elements inside Tencent games, which result from Weixin's and QQ's strong network effect, are the key factor in its success.",
    "output": "[Cause] The social networking elements inside Tencent games [Relation] cause [Effect] its success",
    "gold": "[Cause] The social networking elements inside Tencent games [Relation] cause [Effect] the key factor in its success",
    "valid": false,
    "tag": "substr_invalid"
  },
  {
    "input": "We've seen this with the decline in tariffs on Magellan's Permian pipes due to additional competition, and the near-term outlook remains weak.",
    "output": "[Cause] additional competition [Relation] cause [Effect] the decline in tariffs on Magellan's Permian pipes",
    "gold": "[Cause] due to additional competition, and the near-term outlook remains weak [Relation] cause [Effect] We've seen this with the decline in tariffs on Magellan's Permian pipes",
    "valid": false,
    "tag": "substr_invalid"
  },
  {
    "input": "This risk of material value destruction weighs on our forecasts firm and leads us to award a very high uncertainty rating.",
    "output": "[Cause] This risk of material value destruction weighs on our forecasts firm [Relation] cause [Effect] us to award a very high uncertainty rating",
    "gold": "[Cause] This risk of material value destruction [Relation] enable [Effect] weighs on our forecasts firm and leads us to award a very high uncertainty rating",
    "valid": false,
    "tag": "substr_invalid"
  },
  {
    "input": "Google has quickly leveraged the technological expertise it applied to creating and maintaining its private cloud platform to increase its market share in this space, driving additional revenue growth, creating more operating leverage, and expanding its operating margin, which we expect will continue.",
    "output": "[Cause] Google has quickly leveraged the technological expertise it applied to creating and maintaining its private cloud platform to increase its market share in this space [Relation] enable [Effect] additional revenue growth, creating more operating leverage, and expanding its operating margin",
    "gold": "[Cause] Google has quickly leveraged the technological expertise it applied to creating and maintaining its private cloud platform [Relation] enable [Effect] increase its market share in this space, driving additional revenue growth, creating more operating leverage, and expanding its operating margin, which we expect will continue",
    "valid": false,
    "tag": "substr_invalid"
  },
  {
    "input": "Specifically, management's greater focus on premiumizing the portfolio, as well as an increase in licensing models internationally (which decrease reported volumes but still incorporate a royalty rate in the top line), should drive-low-single digit increases in per-hectoliter price realization across the business.",
    "output": "[Cause] management's greater focus on premiumizing the portfolio, as well as an increase in licensing models internationally [Relation] enable [Effect] drive-low-single digit increases in per-hectoliter price realization across the business",
    "gold": "[Cause] management's greater focus on premiumizing the portfolio |  an increase in licensing models internationally [Relation] enable [Effect] drive-low-single digit increases in per-hectoliter price realization across the business",
    "valid": false,
    "tag": "substr_invalid"
  },
  {
    "input": "We forecast that Autodesk's operating leverage will stem from growing popularity of its eStore significantly reducing advertising and marketing costs as a percentage of sales as the eStore allows for improved internal upselling.",
    "output": "[Cause] the eStore allows for improved internal upselling [Relation] cause [Effect] Autodesk's operating leverage will stem from growing popularity of its eStore significantly reducing advertising and marketing costs as a percentage of sales",
    "gold": "[Cause] the eStore allows for improved internal upselling [Relation] cause [Effect]  reducing advertising and marketing costs as a percentage of sales",
    "valid": false,
    "tag": "substr_invalid"
  },
  {
    "input": "While patent losses on anemia drug Exjade and cancer drug Afinitor will weigh on near-term growth, a strong portfolio of drugs along with a robust pipeline should ensure steady long-term growth.",
    "output": "[Cause] patent losses on anemia drug Exjade and cancer drug Afinitor [Relation] prevent [Effect] near-term growth",
    "gold": "[Cause] patent losses on anemia drug Exjade and cancer drug Afinitor [Relation] enable [Effect] weigh on near-term growth",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "The outbreak reduced fiscal 2020 sales as motorists stayed off the road, though we are encouraged that Valvoline's premium mix continued to grow.",
    "output": "[Cause] motorists stayed off the road [Relation] cause [Effect] The outbreak reduced fiscal 2020 sales",
    "gold": "[Cause] motorists stayed off the road, though we are encouraged that Valvoline's premium mix continued to grow [Relation] cause [Effect] The outbreak reduced fiscal 2020 sales",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "By completely backing out more expensive foreign light crude imports to its refineries and replacing them with discount domestic light crude, Valero's crude slate is almost entirely cost-advantaged.",
    "output": "[Cause] completely backing out more expensive foreign light crude imports to its refineries and replacing them with discount domestic light crude [Relation] enable [Effect] Valero's crude slate is almost entirely cost-advantaged",
    "gold": "[Cause] By completely backing out more expensive foreign light crude imports to its refineries and replacing them with discount domestic light crude [Relation] cause [Effect] Valero's crude slate is almost entirely cost-advantaged",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "As most of the ad holding companies' larger clients and Fortune 500 firms favor omnichannel or multichannel marketing and advertising campaigns, these acquisitions help make the ad holding companies platform-agnostic and one-stop shops, unlike the smaller competitors.",
    "output": "[Cause] most of the ad holding companies' larger clients and Fortune 500 firms favor omnichannel or multichannel marketing and advertising campaigns [Relation] cause [Effect] these acquisitions help make the ad holding companies platform-agnostic and one-stop shops, unlike the smaller competitors",
    "gold": "[Cause]  most of the ad holding companies' larger clients and Fortune 500 firms favor omnichannel or multichannel marketing and advertising campaigns [Relation] cause [Effect]  these acquisitions help make the ad holding companies platform-agnostic and one-stop shops",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "After heavy exposure to real estate-related loans during the crisis (over half the loan book), Regions has increasingly focused on its commercial lending business and reduced its exposure to residential mortgages, which went from 40% of the book to roughly 15%.",
    "output": "[Cause] heavy exposure to real estate-related loans during the crisis [Relation] cause [Effect] Regions has increasingly focused on its commercial lending business and reduced its exposure to residential mortgages, which went from 40% of the book to roughly 15%",
    "gold": "[Cause] After heavy exposure to real estate-related loans during the crisis (over half the loan book) [Relation] cause [Effect] Regions has increasingly focused on its commercial lending business and reduced its exposure to residential mortgages, which went from 40% of the book to roughly 15%",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "With 15% of sales to the auto industry and no other end-market making up over 5%, DuPont is fairly diversified and we forecast consolidated revenue to grow slightly above global GDP.",
    "output": "[Cause] 15% of sales to the auto industry and no other end-market making up over 5% [Relation] cause [Effect] DuPont is fairly diversified and we forecast consolidated revenue to grow slightly above global GDP",
    "gold": "[Cause] With 15% of sales to the auto industry and no other end-market making up over 5% [Relation] cause [Effect] DuPont is fairly diversified and we forecast consolidated revenue to grow slightly above global GDP",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "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 76 million unique active users.",
    "output": "[Cause] a net addition of more than 40-50 million new Internet users across Latin America over the next five years [Relation] enable [Effect] significantly broaden MercadoLibre's active base of 76 million unique active users",
    "gold": "[Cause] We anticipate a net addition of more than 40-50 million new Internet users across Latin America over the next five years, [Relation] prevent [Effect] significantly broaden MercadoLibre's active base of 76 million unique active users.",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "This division of scope has probably been a key contributor to ballooning costs in the one-third share of deep-water project costs that come from subsea.",
    "output": "[Cause] This division of scope [Relation] cause [Effect] ballooning costs in the one-third share of deep-water project costs that come from subsea",
    "gold": "[Cause] This division of scope [Relation] cause [Effect] a key contributor to ballooning costs in the one-third share of deep-water project costs that come from subsea",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "Looking ahead, Neogen will be prioritizing international expansion in food and dairy, with population growth, a growing middle-class, and greater regulation fueling demand prospects abroad, especially in emerging markets.",
    "output": "[Cause] population growth, a growing middle-class, and greater regulation fueling demand prospects abroad, especially in emerging markets [Relation] cause [Effect] Neogen will be prioritizing international expansion in food and dairy",
    "gold": "[Cause] with population growth, a growing middle-class, and greater regulation fueling demand prospects abroad, especially in emerging markets [Relation] cause [Effect] Neogen will be prioritizing international expansion in food and dairy",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "From the perspective of the Class I rail carriers, Hunt is an attractive source of cargo because of its ability to aggregate fragmented demand across an immense pool of customers looking to capitalize on multimodal capabilities.",
    "output": "[Cause] its ability to aggregate fragmented demand across an immense pool of customers looking to capitalize on multimodal capabilities [Relation] cause [Effect] Hunt is an attractive source of cargo",
    "gold": "[Cause] its ability to aggregate fragmented demand across an immense pool of customers looking to capitalize on multimodal capabilities [Relation] cause [Effect] an attractive source of cargo",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "However, we don't believe that sheer volume of aircraft sold would impact software seats given that the engineering needs of aircraft OEM are primarily a function of outright models.",
    "output": "[Cause] the engineering needs of aircraft OEM are primarily a function of outright models [Relation] cause [Effect] we don't believe that sheer volume of aircraft sold would impact software seats",
    "gold": "[Cause]  the engineering needs of aircraft OEM are primarily a function of outright models [Relation] cause [Effect] don't believe that sheer volume of aircraft sold would impact software seats",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "Additionally, relative to other specialists, orthopedic surgeon skill and experience play an outsize role in the clinical outcome for the patient. These issues all leave surgeons reluctant to train and master multiple instrumentation systems, especially if procedure volume is too low to maintain high surgical facility with more than one system.",
    "output": "[Cause] orthopedic surgeon skill and experience play an outsize role in the clinical outcome for the patient [Relation] cause [Effect] surgeons reluctant to train and master multiple instrumentation systems, especially if procedure volume is too low to maintain high surgical facility with more than one system",
    "gold": "[Cause] relative to other specialists, orthopedic surgeon skill and experience play an outsize role in the clinical outcome for the patient [Relation] cause [Effect] surgeons reluctant to train and master multiple instrumentation systems, especially if procedure volume is too low to maintain high surgical facility with more than one system",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "There is little brand switching after the first year with a stoma once patients become familiar with one brand's system.",
    "output": "[Cause] patients become familiar with one brand's system [Relation] cause [Effect] There is little brand switching after the first year with a stoma",
    "gold": "[Cause] the first year with a stoma once patients become familiar with one brand's system [Relation] cause [Effect] There is little brand switching",
    "valid": false,
    "tag": "substr_invalid"
  },
  {
    "input": "Since its 2005 spin-off from American Express, Ameriprise has gradually moved up the value chain to provide customized services and financial planning solutions to the mass affluent and affluent client groups.",
    "output": "[Cause] its 2005 spin-off from American Express [Relation] cause [Effect] Ameriprise has gradually moved up the value chain to provide customized services and financial planning solutions to the mass affluent and affluent client groups",
    "gold": "[Cause]  its 2005 spin-off from American Express, [Relation] enable [Effect] Ameriprise has gradually moved up the value chain to provide customized services and financial planning solutions to the mass affluent and affluent client groups.",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "With the benefit of higher-priced product offerings, such as silicone hydrogel and one-day premium lenses, we expect Cooper to expand margins and maintain earnings growth that outpaces growth in the overall soft contact lens market.",
    "output": "[Cause] the benefit of higher-priced product offerings, such as silicone hydrogel and one-day premium lenses [Relation] enable [Effect] Cooper to expand margins and maintain earnings growth that outpaces growth in the overall soft contact lens market",
    "gold": "[Cause] the benefit of higher-priced product offerings [Relation] cause [Effect] Cooper to expand margins and maintain earnings growth that outpaces growth in the overall soft contact lens marke",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "The company's weighted average cost of capital is lower than its peers in our coverage because of its highly leveraged balance sheet.",
    "output": "[Cause] its highly leveraged balance sheet [Relation] cause [Effect] The company's weighted average cost of capital is lower than its peers in our coverage",
    "gold": "[Cause] highly leveraged balance sheet [Relation] cause [Effect] The company's weighted average cost of capital is lower than its peers in our coverage",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "However, in weakened environments, its professionals share in the pain as the firm is able to significantly cut costs, helping preserve reasonable profits, cash flow, and ROIC.",
    "output": "[Cause] the firm is able to significantly cut costs, helping preserve reasonable profits, cash flow, and ROIC [Relation] cause [Effect] in weakened environments, its professionals share in the pain",
    "gold": "[Cause] the firm is able to significantly cut costs, helping preserve reasonable profits, cash flow, and ROIC [Relation] cause [Effect]  its professionals share in the pain",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "The high attach rate of subscription-based services, including technical support and the latest threat prevention updates, have helped drive 20% average billings growth (revenue plus the change in deferred revenue) between 2016 and 2019.",
    "output": "[Cause] The high attach rate of subscription-based services, including technical support and the latest threat prevention updates [Relation] enable [Effect] helped drive 20% average billings growth (revenue plus the change in deferred revenue) between 2016 and 2019",
    "gold": "[Cause] The high attach rate of subscription-based services, including technical support and the latest threat prevention updates [Relation] enable [Effect] drive 20% average billings growth (revenue plus the change in deferred revenue) between 2016 and 2019",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "Overall revenue is anticipated to grow slightly in fiscal 2020 largely due to the growth of specialty drugs and stabilization in generics.",
    "output": "[Cause] the growth of specialty drugs and stabilization in generics [Relation] cause [Effect] Overall revenue is anticipated to grow slightly in fiscal 2020",
    "gold": "[Cause] the growth of specialty drugs and stabilization in generics [Relation] cause [Effect] Overall revenue is anticipated to grow slightly in fiscal 2020 largely",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "While CoreSite has benefited from the cloud trend, it is not aggressively expanding its footprint to simply accommodate cloud providers, which we think is smart, since we don't see competitive advantages in generic data centers.",
    "output": "[Cause] we don't see competitive advantages in generic data centers [Relation] cause [Effect] it is not aggressively expanding its footprint to simply accommodate cloud providers",
    "gold": "[Cause] we don't see competitive advantages in generic data centers [Relation] cause [Effect] it is not aggressively expanding its footprint",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "Morgan Stanley has performed exceptionally well over the previous several years and any missteps could reverse recently positive market sentiment.",
    "output": "[Cause] any missteps [Relation] prevent [Effect] recently positive market sentiment",
    "gold": "[Cause] any missteps [Relation] cause [Effect] reverse recently positive market sentiment",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "This example illustrates the key problem with breaking into aircraft manufacturing: If a competitor goes through the arduous process of developing an aircraft, potential customers face massive switching costs and are thus quite conservative in their purchasing habits.",
    "output": "[Cause] potential customers face massive switching costs [Relation] cause [Effect] quite conservative in their purchasing habits",
    "gold": "[Cause] If a competitor goes through the arduous process of developing an aircraft, potential customers face massive switching costs [Relation] cause [Effect] quite conservative in their purchasing habits",
    "valid": false,
    "tag": "substr_invalid"
  },
  {
    "input": "Specifically, we expect low-single-digit claims growth to be largely offset by pricing pressure, as new competitors could enter the fray, such as Anthem.",
    "output": "[Cause] new competitors could enter the fray, such as Anthem [Relation] cause [Effect] low-single-digit claims growth to be largely offset by pricing pressure",
    "gold": "[Cause]  new competitors could enter the fray [Relation] cause [Effect] low-single-digit claims growth to be largely offset by pricing pressure",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "Shippers also enjoy the added benefit of converting fixed transportation costs (such as a large traffic management department) into variable costs when outsourcing logistics Integrated Freight & Logisticsmanagement functions.",
    "output": "[Cause] outsourcing logistics Integrated Freight & Logisticsmanagement functions [Relation] enable [Effect] Shippers also enjoy the added benefit of converting fixed transportation costs (such as a large traffic management department) into variable costs",
    "gold": "[Cause] outsourcing logistics Integrated Freight & Logisticsmanagement functions [Relation] enable [Effect] Shippers also enjoy the added benefit of converting fixed transportation costs",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "Remarkably, the firm gathers 200,000 consumer data points every day on its brand.com sites, which stands to further improve its ability to target its consumer base.",
    "output": "[Cause] the firm gathers 200,000 consumer data points every day on its brand.com sites [Relation] enable [Effect] further improve its ability to target its consumer base",
    "gold": "[Cause] the firm gathers 200,000 consumer data points every day on its brand.com sites [Relation] enable [Effect]  stands to further improve its ability to target its consumer base",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "Additional revenue is expected from 5G networking solutions being used across a wider array of industries deploying Internet of Things devices.",
    "output": "[Cause] 5G networking solutions being used across a wider array of industries deploying Internet of Things devices [Relation] cause [Effect] Additional revenue",
    "gold": "[Cause]  5G networking solutions being used across a wider array of industries deploying Internet of Things devices [Relation] enable [Effect] Additional revenue is expected",
    "valid": false,
    "tag": "substr_invalid"
  },
  {
    "input": "Conagra also modernized its advertising approach, which had been slow to evolve to digital mediums, a more relevant and effective way to reach and target consumers, as consumers have been spending more time using digital media in lieu of traditional forms such as TV, radio, and print.",
    "output": "[Cause] consumers have been spending more time using digital media in lieu of traditional forms such as TV, radio, and print [Relation] cause [Effect] Conagra also modernized its advertising approach, which had been slow to evolve to digital mediums, a more relevant and effective way to reach and target consumers",
    "gold": "[Cause] consumers have been spending more time using digital media in lieu of traditional forms such as TV, radio, and print [Relation] cause [Effect] Conagra also modernized its advertising approach, which had been slow to evolve to digital mediums",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "In addition, the government mandate to supply the domestic market and Petrobras' inability to pass along international prices have resulted in increasing downstream losses and sagging returns.",
    "output": "[Cause] the government mandate to supply the domestic market and Petrobras' inability to pass along international prices [Relation] cause [Effect] increasing downstream losses and sagging returns",
    "gold": "[Cause] the government mandate to supply the domestic market | Petrobras' inability to pass along international prices [Relation] cause [Effect] increasing downstream losses and sagging returns",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "Thanks to its persistent ability to innovate, Medtronic is often first to market with new products in various therapeutic areas.",
    "output": "[Cause] persistent ability to innovate [Relation] cause [Effect] Medtronic is often first to market with new products in various therapeutic areas",
    "gold": "[Cause] its persistent ability to innovate [Relation] cause [Effect] Medtronic is often first to market with new products in various therapeutic areas",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "If Bath & Body becomes a stand-alone business, long-term operating margins could reach a high-teens rate, as segment economics are crimped by a rising shift to the e-commerce channel and the attendant shipping costs.",
    "output": "[Cause] segment economics are crimped by a rising shift to the e-commerce channel and the attendant shipping costs [Relation] cause [Effect] long-term operating margins could reach a high-teens rate",
    "gold": "[Cause] segment economics are crimped by a rising shift to the e-commerce channel and the attendant shipping cost [Relation] cause [Effect] long-term operating margins could reach a high-teens rate",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "However, truckload competition is now easing and intermodal demand is rebounding sharply after bottoming in April, with help from a staggering recovery in U.S.",
    "output": "[Cause] a staggering recovery in U.S [Relation] enable [Effect] truckload competition is now easing and intermodal demand is rebounding sharply after bottoming in April",
    "gold": "[Cause] after bottoming in April, with help from a staggering recovery in U.S [Relation] cause [Effect] truckload competition is now easing and intermodal demand is rebounding sharply",
    "valid": false,
    "tag": "substr_invalid"
  },
  {
    "input": "There is high uncertainty regarding the timing and scale of commercialization of Baidu's AI-based services, such as voice assistant platform DuerOS, autonomous driving platform Apollo, and artificial intelligence cloud services, due to the high uncertainty of these businesses.",
    "output": "[Cause] the high uncertainty of these businesses [Relation] cause [Effect] There is high uncertainty regarding the timing and scale of commercialization of Baidu's AI-based services, such as voice assistant platform DuerOS, autonomous driving platform Apollo, and artificial intelligence cloud services",
    "gold": "[Cause] the high uncertainty of these businesses [Relation] cause [Effect] high uncertainty regarding the timing and scale of commercialization of Baidu's AI-based services",
    "valid": false,
    "tag": "substr_invalid"
  },
  {
    "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 around 41% on an adjusted basis (compared with 39% on average the past five calendar years). As such, the firm should be able to generate close to $8 billion in free cash flow on average annually during 2021-25, much of which we anticipate will be returned to shareholders as dividends and share repurchases.",
    "output": "[Cause] 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 around 41% on an adjusted basis (compared with 39% on average the past five calendar years) [Relation] cause [Effect] the firm should be able to generate close to $8 billion in free cash flow on average annually during 2021-25, much of which we anticipate will be returned to shareholders as dividends and share",
    "gold": "[Cause] 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 around 41% on an adjusted basis (compared with 39% on average the past five calendar years) [Relation] cause [Effect] the firm should be able to generate close to $8 billion in free cash flow on average annually during 2021-25, much of which we anticipate will be returned to shareholders as dividends and share repurchases",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "Though crude prices fell dramatically due to economic slowdown related to the pandemic, prices could further rebound with the resumption of economic activity.",
    "output": "[Cause] the resumption of economic activity [Relation] cause [Effect] prices could further rebound",
    "gold": "[Cause] resumption of economic activity [Relation] enable [Effect] prices could further rebound",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "Our cost/income ratio, as we calculate it, including remediation and below-the-line items, drops from 64% in 2020 to 55% in the medium term as below-the-line items reduce materially and Lloyds hits its GBP 7.5 billion operating cost target this year.",
    "output": "[Cause] below-the-line items reduce materially and Lloyds hits its GBP 7.5 billion operating cost target this year [Relation] cause [Effect] Our cost/income ratio, as we calculate it, including remediation and below-the-line items, drops from 64% in 2020 to 55% in the medium term",
    "gold": "[Cause] below-the-line items reduce materially and Lloyds hits its GBP 7.5 billion operating cost target this year [Relation] cause [Effect] remediation and below-the-line items, drops from 64% in 2020 to 55% in the medium term",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "We think that QuickBooks merits a network effect because despite using an accounting software, many small businesses opt to hire an accountant to go over their books that they track through software like QuickBooks.",
    "output": "[Cause] despite using an accounting software, many small businesses opt to hire an accountant to go over their books that they track through software like QuickBooks [Relation] cause [Effect] QuickBooks merits a network effect",
    "gold": "[Cause] despite using an accounting software, many small businesses opt to hire an accountant to go over their books that they track through software like QuickBooks [Relation] cause [Effect] We think that QuickBooks merits a network effect",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "Similarly, we expect revenue from the communications end market to grow 7% on average over the next five years, driven by heightened demand for power management solutions in the cloud power market (including hyperscale data centers, enterprises, and 5G infrastructure) along with increased sales of Quantenna products.",
    "output": "[Cause] heightened demand for power management solutions in the cloud power market (including hyperscale data centers, enterprises, and 5G infrastructure) along with increased sales of Quantenna products [Relation] cause [Effect] revenue from the communications end market to grow 7% on average over the next five years",
    "gold": "[Cause]  increased sales of Quantenna products [Relation] enable [Effect] revenue from the communications end market to grow 7% on average over the next five years",
    "valid": false,
    "tag": "substr_invalid"
  },
  {
    "input": "Similarly, we expect revenue from the communications end market to grow 7% on average over the next five years, driven by heightened demand for power management solutions in the cloud power market (including hyperscale data centers, enterprises, and 5G infrastructure) along with increased sales of Quantenna products.",
    "output": "[Cause] heightened demand for power management solutions in the cloud power market (including hyperscale data centers, enterprises, and 5G infrastructure) along with increased sales of Quantenna products [Relation] cause [Effect] revenue from the communications end market to grow 7% on average over the next five years",
    "gold": "[Cause]  increased sales of Quantenna products [Relation] enable [Effect] revenue from the communications end market to grow 7% on average over the next five years",
    "valid": false,
    "tag": "substr_invalid"
  },
  {
    "input": "Fortunately, health insurers could play key roles in a public option and could even benefit from the expansion of services provided, if the public option merely expands access to insurance.",
    "output": "[Cause] the public option merely expands access to insurance [Relation] enable [Effect] health insurers could play key roles in a public option and could even benefit from the expansion of services provided",
    "gold": "[Cause] public option merely expands access to insurance [Relation] enable [Effect] health insurers could play key roles in a public option and could even benefit from the expansion of services provided",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "But demand has persisted despite the pandemic, and innovation should continue to drive sales, particularly in the marine segment where BRP has launched Project Ghost (altering placement of outboard engines) and Project M (reaching entry-level pontoon consumers), offerings we think will be differentiated from existing products.",
    "output": "[Cause] demand has persisted despite the pandemic [Relation] cause [Effect] innovation should continue to drive sales",
    "gold": "[Cause] demand has persisted [Relation] cause [Effect] innovation should continue to drive sales",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "But more importantly, if customers move to a competing cloud provider, they block themselves from the ability to use Oracle cloud-native software, Fusion, and the change to competing ERP software could instill a change in databases.",
    "output": "[Cause] customers move to a competing cloud provider [Relation] cause [Effect] they block themselves from the ability to use Oracle cloud-native software, Fusion, and the change to competing ERP software could instill a change in databases",
    "gold": "[Cause] customers move to a competing cloud provider [Relation] cause [Effect] they block themselves from the ability to use Oracle cloud-native software",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "We believe new fiber construction is now rational, so to the extent a firm has a presence in an area that is not already subject to multiple competitors, we think it has efficient scale benefits.",
    "output": "[Cause] new fiber construction is now rational [Relation] cause [Effect] to the extent a firm has a presence in an area that is not already subject to multiple competitors, we think it has efficient scale benefits",
    "gold": "[Cause] We believe new fiber construction is now rational [Relation] cause [Effect] to the extent a firm has a presence in an area that is not already subject to multiple competitors, we think it has efficient scale benefits",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "If HPE's products do not create unique value for enterprises, the firm may be required to engage in unsustainable price wars.",
    "output": "[Cause] HPE's products do not create unique value for enterprises [Relation] cause [Effect] the firm may be required to engage in unsustainable price wars",
    "gold": "[Cause] If HPE's products do not create unique value for enterprises, [Relation] cause [Effect] the firm may be required to engage in unsustainable price wars.",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "We expect the company to produce fairly strong underwriting results in the very 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] it benefits from recent pricing increases and the impact of the coronavirus [Relation] cause [Effect] the company to produce fairly strong underwriting results in the very near term",
    "gold": "[Cause]  recent pricing increases and the impact of the coronavirus [Relation] cause [Effect] the company to produce fairly strong underwriting",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "The latest technological advances in this field allow chipmakers to traverse along the pathway prescribed by Moore's law, which claims that the number of transistors on the same area of silicon will double every two years (roughly).",
    "output": "[Cause] The latest technological advances in this field allow chipmakers to traverse along the pathway prescribed by Moore's law [Relation] cause [Effect] claims that the number of transistors on the same area of silicon will double every two years (roughly)",
    "gold": "[Cause] The latest technological advances in this field allow chipmakers to traverse along the pathway prescribed by Moore's law [Relation] enable [Effect] the number of transistors on the same area of silicon will double every two years (roughly)",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "We expect 1% revenue growth for legacy Eldorado on average the next 10 years, weighed by lower demand in 2020 due to COVID-19 and planned asset divestitures over the next year.",
    "output": "[Cause] COVID-19 and planned asset divestitures over the next year [Relation] cause [Effect] lower demand in 2020",
    "gold": "[Cause] COVID-19 and planned asset divestitures over the next year [Relation] cause [Effect]  1% revenue growth for legacy Eldorado on average the next 10 years, weighed by lower demand in 2020",
    "valid": false,
    "tag": "substr_invalid"
  },
  {
    "input": "As one moves up the wealth pyramid the needs of clients becomes more complex and unique and the full needs of clients are unlikely to be met with generic products and advice at the top of the wealth pyramid.",
    "output": "[Cause] one moves up the wealth pyramid [Relation] cause [Effect] the needs of clients becomes more complex and unique and the full needs of clients are unlikely to be met with generic products and advice at the top of the wealth pyramid",
    "gold": "[Cause] moves up the wealth pyramid [Relation] cause [Effect] needs of clients becomes more complex and unique",
    "valid": false,
    "tag": "substr_invalid"
  },
  {
    "input": "We forecast gross margins to rise moderately over the next decade (by roughly 130 basis points, to 35.7%), constrained by our belief that e-commerce retailers can compete in about 30% of the sales areas Tractor Supply operates within.",
    "output": "[Cause] our belief that e-commerce retailers can compete in about 30% of the sales areas Tractor Supply operates within [Relation] cause [Effect] gross margins to rise moderately over the next decade (by roughly 130 basis points, to 35.7%)",
    "gold": "[Cause]  e-commerce retailers can compete in about 30% of the sales areas Tractor Supply operates within [Relation] cause [Effect] gross margins to rise moderately over the next decade",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "Having already acquired REN Skincare, Kate Somerville, Dermalogica, and Murad, Unilever is close to achieving a critical mass of volume in the prestige beauty industry that should give it competitive advantages.",
    "output": "[Cause] Having already acquired REN Skincare, Kate Somerville, Dermalogica, and Murad [Relation] cause [Effect] Unilever is close to achieving a critical mass of volume in the prestige beauty industry that should give it competitive advantages",
    "gold": "[Cause] Having already acquired REN Skincare, Kate Somerville, Dermalogica, and Murad, Unilever is close to achieving a critical mass of volume in the prestige beauty industry [Relation] cause [Effect] competitive advantages",
    "valid": false,
    "tag": "substr_invalid"
  },
  {
    "input": "With regulatory and political backing, CMS plans at least $25 billion of investment during the next 10 years, including more than $12 billion during the next five years.",
    "output": "[Cause] regulatory and political backing [Relation] enable [Effect] CMS plans at least $25 billion of investment during the next 10 years, including more than $12 billion during the next five years",
    "gold": "[Cause] With regulatory and political backing [Relation] cause [Effect] CMS plans at least $25 billion of investment during the next 10 years, including more than $12 billion during the next five years",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "We are increasing our fair value estimate $2 per share to $30 per share after PPL agreed to sell its U.K.",
    "output": "[Cause] PPL agreed to sell its U.K [Relation] cause [Effect] We are increasing our fair value estimate $2 per share to $30 per share",
    "gold": "[Cause] PPL agreed to sell its U.K [Relation] enable [Effect]  increasing our fair value estimate $2 per share to $30 per share",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "We believe the continuous increase in student enrolment for after-school tutoring is primarily attributable to the increasing middle class in China, where parents are willing to spend at least 20% of their disposal income on Children's education.",
    "output": "[Cause] the increasing middle class in China [Relation] cause [Effect] the continuous increase in student enrolment for after-school tutoring",
    "gold": "[Cause]  the increasing middle class in China, where parents are willing to spend at least 20% of their disposal income on Children's education [Relation] cause [Effect] the continuous increase in student enrolment for after-school tutoring",
    "valid": false,
    "tag": "substr_invalid"
  },
  {
    "input": "Aptar's expertise is especially important when working with smaller drug companies, as these smaller firms have limited expertise in development and design of packaging.",
    "output": "[Cause] these smaller firms have limited expertise in development and design of packaging [Relation] cause [Effect] Aptar's expertise is especially important when working with smaller drug companies",
    "gold": "[Cause]  limited expertise in development and design of packaging [Relation] cause [Effect] Aptar's expertise is especially important",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "This should support 6.5% annual earnings per share growth following the earnings decline in 2020 due to the abandonment of the Atlantic Coast Pipeline and the sale of most of the assets in the gas transmission and storage segment.",
    "output": "[Cause] the abandonment of the Atlantic Coast Pipeline and the sale of most of the assets in the gas transmission and storage segment [Relation] cause [Effect] support 6.5% annual earnings per share growth following the earnings decline in 2020",
    "gold": "[Cause] the abandonment of the Atlantic Coast Pipeline and the sale of most of the assets in the gas transmission and storage segment [Relation] cause [Effect]  the earnings decline in 2020",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "Further, we note that the company's cash reserve, lack of debt, and steady operating income provide Check Point with great flexibility in growth and recessionary environments.",
    "output": "[Cause] the company's cash reserve, lack of debt, and steady operating income [Relation] enable [Effect] Check Point with great flexibility in growth and recessionary environments",
    "gold": "[Cause] the company's cash reserve, lack of debt, and steady operating income [Relation] enable [Effect] provide Check Point with great flexibility in growth and recessionary environments",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "We now estimate a high-single-digit decrease in core operating profit in 2020 (an improvement from earlier estimates of midteens declines) driven in large part by operational efficiencies.",
    "output": "[Cause] operational efficiencies [Relation] cause [Effect] a high-single-digit decrease in core operating profit in 2020 (an improvement from earlier estimates of midteens declines)",
    "gold": "[Cause] operational efficiencies [Relation] enable [Effect] a high-single-digit decrease in core operating profit in 2020 (an improvement from earlier estimates of midteens declines) driven in large part",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "The dealer knows the vehicle, and comparison-shopping for repair work is very time-consuming since the customer has to take the vehicle to each shop to get a quote.",
    "output": "[Cause] the customer has to take the vehicle to each shop to get a quote [Relation] cause [Effect] comparison-shopping for repair work is very time-consuming",
    "gold": "[Cause] the customer has to take the vehicle to each shop to get a quote [Relation] cause [Effect] The dealer knows the vehicle, and comparison-shopping for repair work is very time-consuming",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "Our current forecasts have fees for the money market AUM being run by the asset managers in our coverage dropping from the 15- to 16-basis-point levels during 2017-19 down to 7 to 8 basis points this year due to fee waivers (and then trending closer to a more normalized 11 to 12 basis points over the course of 2021-30). This will limit the contribution that Federated's cash-management operations can make to ongoing efforts to expand and diversify the business away from money market funds longer term.",
    "output": "[Cause] Our current forecasts have fees for the money market AUM being run by the asset managers in our coverage dropping from the 15- to 16-basis-point levels during 2017-19 down to 7 to 8 basis points this year due to fee waivers (and then trending closer to a more normalized 11 to 12 basis points over the course of 2021-30) [Relation] prevent [Effect] the contribution that Federated's cash-management operations can make to ongoing efforts to expand and diversify the business away from money market funds longer term",
    "gold": "[Cause] fees for the money market AUM being run by the asset managers in our coverage dropping from the 15- to 16-basis-point levels during 2017-19 down to 7 to 8 basis points this year due to fee waivers [Relation] prevent [Effect] the contribution that Federated's cash-management operations can make to ongoing efforts to expand and diversify the business away from money market funds longer term",
    "valid": false,
    "tag": "substr_invalid"
  },
  {
    "input": "We're anticipating some margin expansion over the short term, with operating margins normalizing at roughly 12.8%, The lion's share of margin expansion comes from Pratt and Whitney, which we anticipate will benefit from both reduced negative margin on commercial engine sales as well as mix shift toward higher-margin revenues.",
    "output": "[Cause] both reduced negative margin on commercial engine sales as well as mix shift toward higher-margin revenues [Relation] cause [Effect] some margin expansion over the short term, with operating margins normalizing at roughly 12.8%, The lion's share of margin expansion comes from Pratt and Whitney",
    "gold": "[Cause]  benefit from both reduced negative margin on commercial engine sales as well as mix shift toward higher-margin revenues [Relation] enable [Effect] The lion's share of margin expansion comes from Pratt and Whitney",
    "valid": false,
    "tag": "substr_invalid"
  },
  {
    "input": "Walmart+, the chain's new membership program (which offers unlimited rapid delivery, fuel discounts, and mobile scan and go in exchange for a $98 yearly fee, or $12.95 monthly), should help drive omnichannel sales in grocery and other categories while boosting shopper loyalty.",
    "output": "[Cause] the chain's new membership program [Relation] enable [Effect] omnichannel sales in grocery and other categories while boosting shopper loyalty",
    "gold": "[Cause]  the chain's new membership program [Relation] cause [Effect] drive omnichannel sales in grocery and other categories while boosting shopper loyalty.",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "From the outset, the company has enjoyed a considerable competitive advantage that enables it to systematically undercut its upstream peers.",
    "output": "[Cause] the company has enjoyed a considerable competitive advantage [Relation] enable [Effect] it to systematically undercut its upstream peers",
    "gold": "[Cause] the company has enjoyed a considerable competitive advantage [Relation] enable [Effect] enables it to systematically undercut its upstream peers",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "A key driver of our top-line growth forecast is extremely tight industry capacity, which is breathing new life into Knight's contract pricing, and double-digit gains aren't out of the question for 2021.",
    "output": "[Cause] extremely tight industry capacity [Relation] enable [Effect] breathing new life into Knight's contract pricing",
    "gold": "[Cause]  extremely tight industry capacity [Relation] enable [Effect]  breathing new life into Knight's contract pricing, and double-digit gains aren't out of the question for 202",
    "valid": false,
    "tag": "substr_invalid"
  },
  {
    "input": "The firm also uses third-party contract manufacturers around the world that produce 20% of its consumer products, which cannot be deemed as a unique advantage given others throughout the space also have access to these suppliers.",
    "output": "[Cause] others throughout the space also have access to these suppliers [Relation] cause [Effect] The firm also uses third-party contract manufacturers around the world that produce 20% of its consumer products, which cannot be deemed as a unique advantage",
    "gold": "[Cause] others throughout the space also have access to these suppliers [Relation] cause [Effect] cannot be deemed as a unique advantage",
    "valid": false,
    "tag": "substr_invalid"
  },
  {
    "input": "Aerospace, furthermore, is a long-cycle business that can have a prolonged downturn period depending on global demand for air travel, as well as military defense spending, which can face headwinds like sequestration threats in the United States.",
    "output": "[Cause] global demand for air travel, as well as military defense spending, which can face headwinds like sequestration threats in the United States [Relation] cause [Effect] Aerospace, furthermore, is a long-cycle business that can have a prolonged downturn period",
    "gold": "[Cause] global demand for air travel, as well as military defense spending [Relation] cause [Effect] a prolonged downturn period",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "China's rapid urbanization is likely to moderate at some point, reducing the global demand for iron, copper, and metallurgical coal.",
    "output": "[Cause] China's rapid urbanization is likely to moderate at some point [Relation] cause [Effect] reducing the global demand for iron, copper, and metallurgical coal",
    "gold": "[Cause] China's rapid urbanization is likely to moderate at some point [Relation] cause [Effect] educing the global demand for iron, copper, and metallurgical coal",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "We expect Brazil, which currently represents 20% of group's revenues, to be the sales growth engine, on the back of demand for higher data volumes and the market's transition toward the postpaid segment.",
    "output": "[Cause] demand for higher data volumes and the market's transition toward the postpaid segment [Relation] enable [Effect] Brazil, which currently represents 20% of group's revenues, to be the sales growth engine",
    "gold": "[Cause] demand for higher data volumes and the market's transition toward the postpaid segment [Relation] enable [Effect] currently represents 20% of group's revenues, to be the sales growth engine",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "We think that net interest margins will be under pressure for the next several years, as we project rates staying low before rate hikes start to happen in late 2023, with balance sheet growth being the primary lever for net interest income growth in the meantime.",
    "output": "[Cause] we project rates staying low before rate hikes start to happen in late 2023, with balance sheet growth being the primary lever for net interest income growth in the meantime [Relation] cause [Effect] net interest margins will be under pressure for the next several years",
    "gold": "[Cause] rates staying low before rate hikes start to happen in late 2023, with balance sheet growth being the primary lever for net interest income growth in the meantime [Relation] cause [Effect] net interest margins will be under pressure for the next several years",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "Should the firm fail to maximize its investments in the technology (such as the acquisition of Monolith), larger firms like ST Micro and Infineon may gain share in the power semiconductor market at Littelfuse's expense.",
    "output": "[Cause] the firm fail to maximize its investments in the technology [Relation] cause [Effect] larger firms like ST Micro and Infineon may gain share in the power semiconductor market at Littelfuse's expense",
    "gold": "[Cause] fail to maximize its investments in the technology [Relation] enable [Effect] larger firms like ST Micro and Infineon may gain share in the power semiconductor market at Littelfuse's expense",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "Security point solutions were traditionally purchased to combat the latest threats, and IT teams had to manage various vendors' products simultaneously, which leads us to believe that IT teams are clamoring for security consolidation to manage disparate solutions.",
    "output": "[Cause] Security point solutions were traditionally purchased to combat the latest threats, and IT teams had to manage various vendors' products simultaneously [Relation] cause [Effect] IT teams are clamoring for security consolidation to manage disparate solutions",
    "gold": "[Cause] Security point solutions were traditionally purchased to combat the latest threats, and IT teams had to manage various vendors' products simultaneously [Relation] enable [Effect] leads us to believe that IT teams are clamoring for security consolidation to manage disparate solutions",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "By end market, we expect Agilent's organic growth to be led by biopharmaceuticals with 9% overall growth expected on strong biologic-related and solid growth in small molecules.",
    "output": "[Cause] strong biologic-related and solid growth in small molecules [Relation] enable [Effect] Agilent's organic growth to be led by biopharmaceuticals with 9% overall growth expected",
    "gold": "[Cause] strong biologic-related and solid growth in small molecules [Relation] cause [Effect] Agilent's organic growth to be led by biopharmaceuticals with 9% overall growth",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "Occupancy, minimum rent growth, re-leasing spreads, and margin assumptions drive total company annual same-store NOI growth averaging 2.1% across our 10-year forecast.",
    "output": "[Cause] Occupancy, minimum rent growth, re-leasing spreads, and margin assumptions [Relation] enable [Effect] total company annual same-store NOI growth averaging 2.1% across our 10-year forecast",
    "gold": "[Cause] Occupancy, minimum rent growth, re-leasing spreads, and margin assumptions [Relation] cause [Effect] drive total company annual same-store NOI growth averaging 2.1% across our 10-year forecast",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "Semiconductor manufacturing is inherently capital-intensive and thus requires methodical planning and execution to keep the cost per chip at a reasonable level.",
    "output": "[Cause] Semiconductor manufacturing is inherently capital-intensive [Relation] cause [Effect] requires methodical planning and execution to keep the cost per chip at a reasonable level",
    "gold": "[Cause] Semiconductor manufacturing is inherently capital-intensive a [Relation] cause [Effect] requires methodical planning and execution to keep the cost per chip at a reasonable level",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "We expect Ross' store growth to continue, albeit at a somewhat slower pace as the chain matures (4% yearly against its historical 6% prepandemic five-year average).",
    "output": "[Cause] the chain matures [Relation] cause [Effect] Ross' store growth to continue, albeit at a somewhat slower pace",
    "gold": "[Cause]  the chain matures [Relation] cause [Effect]  Ross' store growth to continue",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "We remain favorable about Stryker's longer-term prospects for revenue growth and profitability as procedure volume and healthcare utilization have demonstrated solid growth and should continue to do so, this near-term pandemic disruption notwithstanding.",
    "output": "[Cause] procedure volume and healthcare utilization have demonstrated solid growth and should continue to do so [Relation] cause [Effect] We remain favorable about Stryker's longer-term prospects for revenue growth and profitability",
    "gold": "[Cause] procedure volume and healthcare utilization have demonstrated solid growth and should continue to do [Relation] cause [Effect] remain favorable about Stryker's longer-term prospects for revenue growth and profitability",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "Net interest margin compression is almost inevitable, with a lower Selic rate and efforts by regulators to cap interest rates.",
    "output": "[Cause] a lower Selic rate and efforts by regulators to cap interest rates [Relation] cause [Effect] Net interest margin compression is almost inevitable",
    "gold": "[Cause] a lower Selic rate and efforts by regulators to cap interest rates [Relation] prevent [Effect] Net interest margin compression",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "The business had to swallow EUR 492.7 million in realized losses largely related to the EUR 2.0 billion of equities held in its investment portfolio, close to 10% of total investments.",
    "output": "[Cause] the EUR 2.0 billion of equities held in its investment portfolio, close to 10% of total investments [Relation] cause [Effect] The business had to swallow EUR 492.7 million in realized losses",
    "gold": "[Cause] the EUR 2.0 billion of equities held in its investment portfolio [Relation] cause [Effect] The business had to swallow EUR 492.7 million in realized losses largely",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "In addition to critical-mass advantages, Airbnb's network advantage is also witnessed in its large global awareness, which aids in host and guest acquisition.",
    "output": "[Cause] In addition to critical-mass advantages, Airbnb's network advantage is also witnessed in its large global awareness [Relation] enable [Effect] aids in host and guest acquisition",
    "gold": "[Cause] Airbnb's network advantage is also witnessed in its large global awareness [Relation] enable [Effect] host and guest acquisition",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "Based on pricing on the Microsoft and Slack websites, as well an estimation of historical average revenue per user, we applied a price of $10 per user per month.",
    "output": "[Cause] Based on pricing on the Microsoft and Slack websites, as well an estimation of historical average revenue per user [Relation] cause [Effect] we applied a price of $10 per user per month",
    "gold": "[Cause]  pricing on the Microsoft and Slack websites, as well an estimation of historical average revenue per user [Relation] cause [Effect] we applied a price of $10 per user per month",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "Since programming costs for much of the non-sports entertainment was already spent and the ad slots will be filled at a lower price, ViacomCBS may not be able to do much to offset the bottom-line impact.",
    "output": "[Cause] programming costs for much of the non-sports entertainment was already spent and the ad slots will be filled at a lower price [Relation] cause [Effect] ViacomCBS may not be able to do much to offset the bottom-line impact",
    "gold": "[Cause] Since programming costs for much of the non-sports entertainment was already spent and the ad slots will be filled at a lower price, [Relation] cause [Effect] ViacomCBS may not be able to do much to offset the bottom-line impact.",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "Brown-Forman boasts strong market positioning in categories like whiskey, tequila, and vodka, which constitute roughly 70% of total spirits volume in the U.S., according to the Distilled Spirits Council, and we believe this confers tremendous clout across the supply chain.",
    "output": "[Cause] Brown-Forman boasts strong market positioning in categories like whiskey, tequila, and vodka [Relation] enable [Effect] confers tremendous clout across the supply chain",
    "gold": "[Cause] Brown-Forman boasts strong market positioning in categories like whiskey, tequila, and vodka, which constitute roughly 70% of total spirits volume in the U.S. [Relation] cause [Effect] this confers tremendous clout across the supply chain",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "However, we think there is little to keep major cloud providers from eroding this advantage if they pursue their CDNs to a greater degree.",
    "output": "[Cause] they pursue their CDNs to a greater degree [Relation] cause [Effect] there is little to keep major cloud providers from eroding this advantage",
    "gold": "[Cause]  if they pursue their CDNs to a greater degree [Relation] enable [Effect] we think there is little to keep major cloud providers from eroding this advantage",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "In our view, Lyft is also likely to increase the use of its platform by consumers as it provides additional options such as last-mile offerings (bike- and scooter-sharing).",
    "output": "[Cause] it provides additional options such as last-mile offerings (bike- and scooter-sharing) [Relation] cause [Effect] Lyft is also likely to increase the use of its platform by consumers",
    "gold": "[Cause] it provides additional options such as last-mile offerings (bike- and scooter-sharing) [Relation] cause [Effect] In our view, Lyft is also likely to increase the use of its platform by consumers",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "UBS' 2016 risk disclosure suggests that a 1% increase in interest rates will lead to a 3% reduction in profit before tax.",
    "output": "[Cause] UBS' 2016 risk disclosure suggests that a 1% increase in interest rates [Relation] cause [Effect] a 3% reduction in profit before tax",
    "gold": "[Cause]  a 1% increase in interest rates [Relation] cause [Effect]  a 3% reduction in profit before tax",
    "valid": false,
    "tag": "substr_invalid"
  },
  {
    "input": "We project that Coloplast can incrementally increase operating margin to 34.2% by 2025, as slight gains in manufacturing efficiency prevail over more investment in research and development programs, which nets out to 9% average annual growth in operating income during the same period.",
    "output": "[Cause] slight gains in manufacturing efficiency prevail over more investment in research and development programs [Relation] cause [Effect] Coloplast can incrementally increase operating margin to 34.2% by 2025",
    "gold": "[Cause] slight gains in manufacturing efficiency prevail over more investment in research and development programs, which nets out to 9% average annual growth in operating income during the same period [Relation] cause [Effect] We project that Coloplast can incrementally increase operating margin to 34.2% by 2025",
    "valid": false,
    "tag": "substr_invalid"
  },
  {
    "input": "Focused entry into the OTA market from Google, Facebook, Alibaba, Amazon, and others could double the current handful of players that have dominant scale, leading to a meaningful impact on profitability.",
    "output": "[Cause] Focused entry into the OTA market from Google, Facebook, Alibaba, Amazon, and others [Relation] enable [Effect] double the current handful of players that have dominant scale",
    "gold": "[Cause] Focused entry into the OTA market [Relation] enable [Effect] double the current handful of players",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "With less data, Criteo may be less effective in calculating the probability that a user will engage with an ad.",
    "output": "[Cause] less data [Relation] cause [Effect] Criteo may be less effective in calculating the probability that a user will engage with an ad",
    "gold": "[Cause] less data [Relation] cause [Effect] Criteo may be less effective in calculating the probability",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "We expect Landstar to garner additional market share from less capable 3PL competitors as supply chains continue to increase in complexity, requiring sophisticated informational expertise.",
    "output": "[Cause] supply chains continue to increase in complexity, requiring sophisticated informational expertise [Relation] cause [Effect] Landstar to garner additional market share from less capable 3PL competitors",
    "gold": "[Cause] supply chains continue to increase in complexity, requiring sophisticated informational expertise [Relation] enable [Effect] We expect Landstar to garner additional market share from less capable 3PL competitors",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "A carbon tax is likely to be implemented and will increase the price of end products to consumers--which will likely erode demand but not in the near term.",
    "output": "[Cause] A carbon tax is likely to be implemented and will increase the price of end products to consumers [Relation] cause [Effect] erode demand but not in the near term",
    "gold": "[Cause] A carbon tax is likely to be implemented and will increase the price of end products to consumers [Relation] cause [Effect]  likely erode demand but not in the near term",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "Adient has more scale opportunity than its competition due to its larger size in seating and its present inefficient manufacturing.",
    "output": "[Cause] its larger size in seating and its present inefficient manufacturing [Relation] cause [Effect] Adient has more scale opportunity than its competition",
    "gold": "[Cause]  larger size |  inefficient manufacturing [Relation] cause [Effect] Adient has more scale opportunity",
    "valid": false,
    "tag": "substr_invalid"
  },
  {
    "input": "MercadoLibre's push into off-platform payment solutions could require additional regulatory oversight and expose the company to increased bad debt expenses.",
    "output": "[Cause] MercadoLibre's push into off-platform payment solutions [Relation] cause [Effect] require additional regulatory oversight and expose the company to increased bad debt expenses",
    "gold": "[Cause] push into off-platform payment solutions [Relation] cause [Effect] expose the company to increased bad debt expenses",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "RH has a robust e-commerce business, which helps enhance brand awareness and leverage costs, with the ability to market incremental SKUs (and other concepts upon the World of RH platform launch in 2021).",
    "output": "[Cause] RH has a robust e-commerce business [Relation] enable [Effect] enhance brand awareness and leverage costs, with the ability to market incremental SKUs (and other concepts upon the World of RH platform launch in 2021)",
    "gold": "[Cause] RH has a robust e-commerce business [Relation] enable [Effect] enhance brand awareness and leverage costs, with the ability to market incremental SKUs",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "While this cohort is receptive to digital retail's charms, we believe that the dollar store segment is better protected than most, as the low price point and limited basket size (the average Dollar Tree transaction totals roughly $8) leave little room for online retailers to absorb shipping costs economically.",
    "output": "[Cause] the low price point and limited basket size (the average Dollar Tree transaction totals roughly $8) leave little room for online retailers to absorb shipping costs economically [Relation] cause [Effect] the dollar store segment is better protected than most",
    "gold": "[Cause] the low price point and limited basket size (the average Dollar Tree transaction totals roughly $8) leave little room for online retailers to absorb shipping costs economically [Relation] cause [Effect] we believe that the dollar store segment is better protected than most",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "In 2019, Icon acquired Symphony Clinical Research, a provider of in-home and alternate-site services. This has boosted Icon's hybrid clinical trial services, which has proved beneficial during the COVID-19 pandemic as many trials have shifted to remote methods.",
    "output": "[Cause] In 2019, Icon acquired Symphony Clinical Research, a provider of in-home and alternate-site services [Relation] cause [Effect] boosted Icon's hybrid clinical trial services, which has proved beneficial during the COVID-19 pandemic as many trials have shifted to remote methods",
    "gold": "[Cause] Icon acquired Symphony Clinical Research, a provider of in-home and alternate-site services [Relation] enable [Effect]  Icon's hybrid clinical trial services, which has proved beneficial during the COVID-19 pandemic as many trials have shifted to remote methods",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "We believe that when federal regulation is changed to allow states to decide their own cannabis legalization, interstate trade between two legal states will be possible.",
    "output": "[Cause] federal regulation is changed to allow states to decide their own cannabis legalization [Relation] enable [Effect] interstate trade between two legal states will be possible",
    "gold": "[Cause]  federal regulation is changed [Relation] enable [Effect]  allow states to decide their own cannabis legalization, interstate trade between two legal states will be possible",
    "valid": false,
    "tag": "substr_invalid"
  },
  {
    "input": "With the regulatory and payer push for device registries, the orthopedic companies may be subject to more frequent discoveries of product failures and subsequent recalls.",
    "output": "[Cause] the regulatory and payer push for device registries [Relation] cause [Effect] the orthopedic companies may be subject to more frequent discoveries of product failures and subsequent recalls",
    "gold": "[Cause] the regulatory and payer push for device registries [Relation] cause [Effect]  the orthopedic companies may be subject to more frequent discoveries of product failures",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "With the regulatory and payer push for device registries, the orthopedic companies may be subject to more frequent discoveries of product failures and subsequent recalls.",
    "output": "[Cause] the regulatory and payer push for device registries [Relation] cause [Effect] the orthopedic companies may be subject to more frequent discoveries of product failures and subsequent recalls",
    "gold": "[Cause] the regulatory and payer push for device registries [Relation] cause [Effect] subsequent recalls",
    "valid": false,
    "tag": "substr_invalid"
  },
  {
    "input": "Even so, we expect the firm's strong retail brands and aggressive cost management efforts will allow it to continue earning double-digit operating margins throughout the pandemic.",
    "output": "[Cause] the firm's strong retail brands and aggressive cost management efforts [Relation] enable [Effect] continue earning double-digit operating margins throughout the pandemic",
    "gold": "[Cause] the firm's strong retail brands [Relation] cause [Effect] continue earning double-digit operating margins throughout the pandemic",
    "valid": false,
    "tag": "substr_invalid"
  },
  {
    "input": "Even so, we expect the firm's strong retail brands and aggressive cost management efforts will allow it to continue earning double-digit operating margins throughout the pandemic.",
    "output": "[Cause] the firm's strong retail brands and aggressive cost management efforts [Relation] enable [Effect] continue earning double-digit operating margins throughout the pandemic",
    "gold": "[Cause] aggressive cost management efforts [Relation] cause [Effect] continue earning double-digit operating margins throughout the pandemic",
    "valid": false,
    "tag": "substr_invalid"
  },
  {
    "input": "Given ICU's very different business mix versus a few years ago, we think it's unlikely that the firm will return to pre-Hospira levels of profitability.",
    "output": "[Cause] ICU's very different business mix versus a few years ago [Relation] cause [Effect] we think it's unlikely that the firm will return to pre-Hospira levels of profitability",
    "gold": "[Cause] ICU's very different business mix versus a few years ago [Relation] cause [Effect]  it's unlikely that the firm will return to pre-Hospira levels of profitability",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "We expect operating leverage beginning in 2022, mostly due to growth in high-margin local and travel revenue, completion of the cloud transition which the firm has undertaken in early 2020, and the ongoing cost control.",
    "output": "[Cause] growth in high-margin local and travel revenue [Relation] cause [Effect] operating leverage beginning in 2022",
    "gold": "[Cause] growth in high-margin local and travel revenue [Relation] cause [Effect] We expect operating leverage beginning in 2022",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "We expect operating leverage beginning in 2022, mostly due to growth in high-margin local and travel revenue, completion of the cloud transition which the firm has undertaken in early 2020, and the ongoing cost control.",
    "output": "[Cause] completion of the cloud transition which the firm has undertaken in early 2020, and the ongoing cost control [Relation] cause [Effect] operating leverage beginning in 2022",
    "gold": "[Cause] completion of the cloud transition which the firm has undertaken in early 2020 [Relation] cause [Effect] We expect operating leverage beginning in 2022",
    "valid": false,
    "tag": "substr_invalid"
  },
  {
    "input": "We expect operating leverage beginning in 2022, mostly due to growth in high-margin local and travel revenue, completion of the cloud transition which the firm has undertaken in early 2020, and the ongoing cost control.",
    "output": "[Cause] completion of the cloud transition which the firm has undertaken in early 2020, and the ongoing cost control [Relation] cause [Effect] operating leverage beginning in 2022",
    "gold": "[Cause] the ongoing cost control [Relation] cause [Effect] We expect operating leverage beginning in 2022",
    "valid": false,
    "tag": "substr_invalid"
  },
  {
    "input": "If lingering fears of the coronavirus cause consumers to avoid shopping at the busiest retail centers, foot traffic may fall despite the concentration of high-quality tenants.",
    "output": "[Cause] lingering fears of the coronavirus cause consumers to avoid shopping at the busiest retail centers [Relation] cause [Effect] foot traffic may fall despite the concentration of high-quality tenants",
    "gold": "[Cause] If lingering fears of the coronavirus cause consumers to avoid shopping at the busiest retail centers [Relation] cause [Effect] foot traffic may fall despite the concentration of high-quality tenants",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "By combining digital solutions with its equipment, we think Lincoln Electric will be able to offer an integrated package and thus create stickier customer relationships.",
    "output": "[Cause] combining digital solutions with its equipment [Relation] enable [Effect] Lincoln Electric will be able to offer an integrated package and thus create stickier customer relationships",
    "gold": "[Cause] combining digital solutions with its equipment [Relation] enable [Effect] we think Lincoln Electric will be able to offer an integrated package and thus create stickier customer relationships",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "In October 2020, Bed Bath & Beyond put forth an updated strategy to revitalize its brand and regain customer confidence by focusing on its core properties. As such, the company divested peripheral brands such as Cost Plus in order to focus on the Bed Bath & Beyond, Buy Buy Baby, Harmon Face Value, and Decorist labels.",
    "output": "[Cause] Bed Bath & Beyond put forth an updated strategy to revitalize its brand and regain customer confidence by focusing on its core properties [Relation] cause [Effect] the company divested peripheral brands such as Cost Plus in order to focus on the Bed Bath & Beyond, Buy Buy Baby, Harmon Face Value, and Decorist labels",
    "gold": "[Cause] In October 2020, Bed Bath & Beyond put forth an updated strategy to revitalize its brand and regain customer confidence by focusing on its core properties [Relation] cause [Effect] the company divested peripheral brands such as Cost Plus in order to focus on the Bed Bath & Beyond, Buy Buy Baby, Harmon Face Value, and Decorist labels",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "We believe that increasing the fixed costs to provide credit ratings has raised the barriers to entry for smaller rating agencies.",
    "output": "[Cause] increasing the fixed costs to provide credit ratings [Relation] cause [Effect] raised the barriers to entry for smaller rating agencies",
    "gold": "[Cause]  increasing the fixed costs to provide credit ratings [Relation] prevent [Effect] entry for smaller rating agencies",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "We still see risks to execution, particularly as it reorients its go-to-market approach and distribution networks to receive more targeted selling efforts from its wholesalers.",
    "output": "[Cause] it reorients its go-to-market approach and distribution networks to receive more targeted selling efforts from its wholesalers [Relation] cause [Effect] risks to execution",
    "gold": "[Cause] reorients its go-to-market approach and distribution networks to receive more targeted selling efforts from its wholesalers [Relation] prevent [Effect]  execution",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "Instead, the company will improve the quality of its assets and reposition them in their markets through continual redevelopment and also selectively invest in development projects.",
    "output": "[Cause] continual redevelopment [Relation] enable [Effect] the company will improve the quality of its assets and reposition them in their markets",
    "gold": "[Cause] continual redevelopment [Relation] enable [Effect] the company will improve the quality of its assets",
    "valid": false,
    "tag": "substr_invalid"
  },
  {
    "input": "We forecast roughly 6.5% average annual organic revenue growth through fiscal 2025, following a 9% year-over-year decline in fiscal 2020 due to the impact of the coronavirus outbreak, soft industrial production, and a slowdown in U.S.",
    "output": "[Cause] the impact of the coronavirus outbreak, soft industrial production, and a slowdown in U.S [Relation] cause [Effect] We forecast roughly 6.5% average annual organic revenue growth through fiscal 2025, following a 9% year-over-year decline in fiscal 2020",
    "gold": "[Cause] the impact of the coronavirus outbreak, soft industrial production, and a slowdown in U.S. [Relation] cause [Effect] We forecast roughly 6.5% average annual organic revenue growth through fiscal 2025",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "Now, flash chipmakers can improve lateral density of NAND cells at each layer, and pack more and more layers into a single chip to improve overall storage density.",
    "output": "[Cause] flash chipmakers can improve lateral density of NAND cells at each layer, and pack more and more layers into a single chip [Relation] enable [Effect] improve overall storage density",
    "gold": "[Cause] ash chipmakers can improve lateral density of NAND cells at each layer, and pack more and more layers into a single chip [Relation] cause [Effect] improve overall storage density",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "BlackBerry doesn't disclose the length or terminal dates of these contracts, and we don't think the BlackBerry name is strong enough to elicit high retention rates for these licensing agreements.",
    "output": "[Cause] BlackBerry doesn't disclose the length or terminal dates of these contracts [Relation] prevent [Effect] the BlackBerry name is strong enough to elicit high retention rates for these licensing agreements",
    "gold": "[Cause] BlackBerry doesn't disclose the length or terminal dates of these contracts [Relation] cause [Effect]  we don't think the BlackBerry name is strong enough to elicit high retention rates for these licensing agreements",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "In addition, the Brazilian economy faces ongoing macroeconomic instability that could lead to further currency weakness and a decline in personal discretionary income.",
    "output": "[Cause] the Brazilian economy faces ongoing macroeconomic instability [Relation] cause [Effect] further currency weakness and a decline in personal discretionary income",
    "gold": "[Cause] ongoing macroeconomic instability [Relation] cause [Effect]  further currency weakness and a decline in personal discretionary income",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "Without a studio, we expect the firm will be squeezed by outside studios that will pass through increased production costs.",
    "output": "[Cause] outside studios [Relation] cause [Effect] the firm will be squeezed",
    "gold": "[Cause] outside studios that will pass through increased production costs [Relation] cause [Effect] the firm will be squeezed",
    "valid": false,
    "tag": "substr_invalid"
  },
  {
    "input": "Looking at the two side of the business, AIG's life insurance operations are highly exposed to the direction of capital markets, and lower interest rates and the fall off in the equity market will hamper profitability.",
    "output": "[Cause] lower interest rates and the fall off in the equity market [Relation] prevent [Effect] profitability",
    "gold": "[Cause] lower interest rates and the fall off in the equity market [Relation] cause [Effect] hamper profitability.",
    "valid": false,
    "tag": "substr_invalid"
  },
  {
    "input": "Steam revenue is not decoupled and, along with mild first-quarter weather, drove the reduction in Con Ed's 2020 earnings guidance range earlier this year.",
    "output": "[Cause] Steam revenue is not decoupled and, along with mild first-quarter weather [Relation] cause [Effect] the reduction in Con Ed's 2020 earnings guidance range earlier this year",
    "gold": "[Cause]  mild first-quarter weather [Relation] cause [Effect]  the reduction in Con Ed's 2020 earnings guidance range earlier this year",
    "valid": false,
    "tag": "substr_invalid"
  },
  {
    "input": "We think that once tenants choose an Equinix data center, they are locking themselves into that data center for the long term in most cases.",
    "output": "[Cause] tenants choose an Equinix data center [Relation] cause [Effect] they are locking themselves into that data center for the long term in most cases",
    "gold": "[Cause] tenants choose an Equinix data center [Relation] enable [Effect] they are locking themselves into that data center for the long term",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "Its hereditary cancer business still dominates over half its revenue stream, and its runner up, GeneSight, faces some complications, as its efficacy remains in question, in our opinion.",
    "output": "[Cause] its efficacy remains in question [Relation] cause [Effect] its runner up, GeneSight, faces some complications",
    "gold": "[Cause]  its efficacy remains in question [Relation] cause [Effect] Its hereditary cancer business still dominates over half its revenue stream, and its runner up, GeneSight, faces some complications",
    "valid": false,
    "tag": "substr_invalid"
  },
  {
    "input": "Since these segments earn materially higher margins than the rest of the business, we also expect them to drive margins higher over time.",
    "output": "[Cause] these segments earn materially higher margins than the rest of the business [Relation] cause [Effect] drive margins higher over time",
    "gold": "[Cause] these segments earn materially higher margins than the rest of the business [Relation] enable [Effect] we also expect them to drive margins higher over time",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "We project that Coloplast can incrementally increase operating margin to 33.7% by 2024, as slight gains in manufacturing efficiency prevail over more investment in research and development programs, which nets out to 9% average annual growth in operating income during the same period.",
    "output": "[Cause] slight gains in manufacturing efficiency prevail over more investment in research and development programs [Relation] cause [Effect] Coloplast can incrementally increase operating margin to 33.7% by 2024",
    "gold": "[Cause] slight gains in manufacturing efficiency prevail over more investment in research and development programs, which nets out to 9% average annual growth in operating income during the same period [Relation] cause [Effect] We project that Coloplast can incrementally increase operating margin to 33.7% by 2024",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "We project that Coloplast can incrementally increase operating margin to 33.7% by 2024, as slight gains in manufacturing efficiency prevail over more investment in research and development programs, which nets out to 9% average annual growth in operating income during the same period.",
    "output": "[Cause] slight gains in manufacturing efficiency prevail over more investment in research and development programs [Relation] cause [Effect] 9% average annual growth in operating income during the same period",
    "gold": "[Cause] slight gains in manufacturing efficiency prevail over more investment in research and development programs, which nets out to 9% average annual growth in operating income during the same period [Relation] enable [Effect] nets out to 9% average annual growth in operating income during the same period",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "The first risk is that economic fundamentals deteriorate in the United States and Canada, weighing on employment and wage growth and therefore on household formation and housing demand.",
    "output": "[Cause] economic fundamentals deteriorate in the United States and Canada [Relation] cause [Effect] weighing on employment and wage growth and therefore on household formation and housing demand",
    "gold": "[Cause] The first risk is that economic fundamentals deteriorate in the United States and Canada [Relation] cause [Effect] weighing on employment and wage growth and therefore on household formation and housing demand",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "However, many new market entrants over the past three years caused Quest's market share to fall modestly from 9.8% in 2017.",
    "output": "[Cause] many new market entrants over the past three years [Relation] cause [Effect] Quest's market share to fall modestly from 9.8% in 2017",
    "gold": "[Cause] many new market entrants [Relation] cause [Effect] Quest's market share to fall modestly from 9.8% in 2017",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "Combining these two large organizations will be a multiyear process, which may not go perfectly smooth, and the synergies we anticipate between the organizations may never materialize.",
    "output": "[Cause] Combining these two large organizations will be a multiyear process [Relation] cause [Effect] may not go perfectly smooth, and the synergies we anticipate between the organizations may never materialize",
    "gold": "[Cause] Combining these two large organizations will be a multiyear process [Relation] cause [Effect]  the synergies we anticipate between the organizations may never materialize",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "A key part of our thesis is that Wells will begin cutting expenses in 2021 and 2022, as regulatory and compliance related expense pressures begin to ease.",
    "output": "[Cause] regulatory and compliance related expense pressures begin to ease [Relation] cause [Effect] Wells will begin cutting expenses in 2021 and 2022",
    "gold": "[Cause] as regulatory and compliance related expense pressures begin to ease. [Relation] enable [Effect] A key part of our thesis is that Wells will begin cutting expenses in 2021 and 2022,",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "Over the past decade, Ulta has become the largest specialty beauty retailer in the United States through store openings, product and brand introductions, improved marketing, and an enhanced loyalty program (more than 30 million members).",
    "output": "[Cause] store openings, product and brand introductions, improved marketing, and an enhanced loyalty program (more than 30 million members) [Relation] enable [Effect] Ulta has become the largest specialty beauty retailer in the United States",
    "gold": "[Cause] store openings, product and brand introductions, improved marketing, and an enhanced loyalty program (more than 30 million members) [Relation] enable [Effect] Over the past decade, Ulta has become the largest specialty beauty retailer in the United States",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "However, if some of the large operators continue to trim older hardware from their fleet to rightsize the business, sold ships could be repurposed for another operator at a significantly lower price (although recently quite a few have gone to scrap).",
    "output": "[Cause] some of the large operators continue to trim older hardware from their fleet to rightsize the business [Relation] cause [Effect] sold ships could be repurposed for another operator at a significantly lower price",
    "gold": "[Cause]  if some of the large operators continue to trim older hardware from their fleet to rightsize the business [Relation] cause [Effect]  sold ships could be repurposed for another operator at a significantly lower price (although recently quite a few have gone to scrap)",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "Since the expiration of its patent in 2012, there has been an increasing number of competitive contract K-cup pod manufacturers that have been taking share.",
    "output": "[Cause] the expiration of its patent in 2012 [Relation] cause [Effect] there has been an increasing number of competitive contract K-cup pod manufacturers that have been taking share",
    "gold": "[Cause]  the expiration of its patent in 2012 [Relation] cause [Effect]  an increasing number of competitive contract K-cup pod manufacturers that have been taking share",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "When constructing a Lego house, there are prebuilt blocks that can be combined to put together a custom outcome. This allows for more time to be spent on deciding the custom layout/differentiating factor of a house rather than constructing each individual Lego block.",
    "output": "[Cause] When constructing a Lego house, there are prebuilt blocks that can be combined to put together a custom outcome [Relation] enable [Effect] more time to be spent on deciding the custom layout/differentiating factor of a house rather than constructing each individual Lego block",
    "gold": "[Cause] When constructing a Lego house, there are prebuilt blocks that can be combined to put together a custom outcome [Relation] enable [Effect] allows for more time to be spent on deciding the custom layout/differentiating factor of a house rather than constructing each individual Lego block",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "Given the importance of Teleflex products to health outcomes, product issues (either related to quality control or manufacturing) should be prevented to avoid social ESG concerns.",
    "output": "[Cause] the importance of Teleflex products to health outcomes [Relation] cause [Effect] product issues (either related to quality control or manufacturing) should be prevented to avoid social ESG concerns",
    "gold": "[Cause] the importance of Teleflex products to health outcomes [Relation] prevent [Effect] avoid social ESG concerns",
    "valid": false,
    "tag": "substr_invalid"
  },
  {
    "input": "We do not think Dick's has any pricing power as many of its key brands and items are widely available.",
    "output": "[Cause] many of its key brands and items are widely available [Relation] cause [Effect] We do not think Dick's has any pricing power",
    "gold": "[Cause] many of its key brands and items are widely available [Relation] cause [Effect]  do not think Dick's has any pricing power",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "Epstein-Barr virus and HIV are other programs that are likely to be defined by their complexity, which could make it difficult for other non-mRNA vaccines to compete.",
    "output": "[Cause] Epstein-Barr virus and HIV are other programs that are likely to be defined by their complexity [Relation] cause [Effect] make it difficult for other non-mRNA vaccines to compete",
    "gold": "[Cause] Epstein-Barr virus and HIV are other programs that are likely to be defined by their complexity [Relation] prevent [Effect]  other non-mRNA vaccines to compete",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "Steel is not a low-cost operator, it will be difficult for the company to consistently generate economic profit unless management significantly improves its positioning on the industry cost curve for steelmaking.",
    "output": "[Cause] management significantly improves its positioning on the industry cost curve for steelmaking [Relation] cause [Effect] it will be difficult for the company to consistently generate economic profit",
    "gold": "[Cause] management significantly improves its positioning on the industry cost curve for steelmaking [Relation] cause [Effect] Steel is not a low-cost operator, it will be difficult for the company to consistently generate economic profit",
    "valid": false,
    "tag": "substr_invalid"
  },
  {
    "input": "Although personal and home care companies use PET materials in their packaging, we think alternatives are within reach and this should limit the financial impact.",
    "output": "[Cause] alternatives are within reach [Relation] prevent [Effect] the financial impact",
    "gold": "[Cause] alternatives are within reach [Relation] cause [Effect] limit the financial impact",
    "valid": false,
    "tag": "substr_invalid"
  },
  {
    "input": "After reviewing fourth-quarter results, we raise our fair value estimate to $184 per share from $181, about half of the increase due to the time value of money and half due to Honeywell smashing sales estimates during the quarter (which we think bodes well for an eventual recovery).",
    "output": "[Cause] the time value of money [Relation] cause [Effect] we raise our fair value estimate to $184 per share from $181",
    "gold": "[Cause] the time value of money [Relation] cause [Effect]  raise our fair value estimate to $184 per share from $181",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "In coffee systems, leading volumes likely facilitate better capacity utilization, as well as procurement leverage for ingredients such as green coffee.",
    "output": "[Cause] leading volumes [Relation] enable [Effect] better capacity utilization, as well as procurement leverage for ingredients such as green coffee",
    "gold": "[Cause] leading volumes [Relation] cause [Effect] facilitate better capacity utilization, as well as procurement leverage for ingredients such as green coffee",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "We project the adjusted operating margin to rise 100-150 basis points over the next five years, as increased competition that we think Akamai faces will be offset by a higher portion of security sales, which we believe bring higher gross margins.",
    "output": "[Cause] increased competition that we think Akamai faces will be offset by a higher portion of security sales [Relation] cause [Effect] the adjusted operating margin to rise 100-150 basis points over the next five years",
    "gold": "[Cause]  increased competition that we think Akamai faces will be offset by a higher portion of security sales [Relation] cause [Effect] We project the adjusted operating margin to rise 100-150 basis points over the next five years",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "We think new space will take a couple of years before reaching occupancy rates more comparable with the rest of the portfolio, which will provide a further tailwind to revenue growth.",
    "output": "[Cause] new space will take a couple of years before reaching occupancy rates more comparable with the rest of the portfolio [Relation] cause [Effect] provide a further tailwind to revenue growth",
    "gold": "[Cause] new space will take a couple of years before reaching occupancy rates more comparable with the rest of the portfolio [Relation] cause [Effect] a further tailwind to revenue growth",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "Nevertheless, structural factors endemic to the segment of the water market where the company is situated, along with LaCroix's positioning in this category, give us confidence that the company can continue extracting economic rents from its markets over the next decade.",
    "output": "[Cause] structural factors endemic to the segment of the water market where the company is situated, along with LaCroix's positioning in this category [Relation] enable [Effect] give us confidence that the company can continue extracting economic rents from its markets over the next decade",
    "gold": "[Cause] structural factors endemic to the segment of the water market where the company is situated, along with LaCroix's positioning in this category [Relation] enable [Effect] the company can continue extracting economic rents from its markets over the next decade",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "The stickiness of the equipment itself also generates recurring revenue on the service side, as customers are often reliant on Mettler to perform repair service and tend to be unwilling to risk service from an unproven third-party vendor.",
    "output": "[Cause] customers are often reliant on Mettler to perform repair service and tend to be unwilling to risk service from an unproven third-party vendor [Relation] cause [Effect] The stickiness of the equipment itself also generates recurring revenue on the service side",
    "gold": "[Cause] be unwilling to risk service from an unproven third-party vendor [Relation] cause [Effect] The stickiness of the equipment itself also generates recurring revenue on the service side",
    "valid": false,
    "tag": "substr_invalid"
  },
  {
    "input": "The smartphone facilitates the rise of additional private-label closed-loop payment networks, making it easier for consumers to use a retailer's preferred form of payment incentivized by rewards and sidestep the expensive discount rates of American Express and other providers.",
    "output": "[Cause] The smartphone facilitates the rise of additional private-label closed-loop payment networks [Relation] enable [Effect] consumers to use a retailer's preferred form of payment incentivized by rewards and sidestep the expensive discount rates of American Express and other providers",
    "gold": "[Cause] The smartphone [Relation] cause [Effect] making it easier for consumers to use a retailer's preferred form of payment incentivized by rewards and sidestep the expensive discount rates of American Express and other providers",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "With combined provisioning for 2008 and 2009 exceeding total net interest income for the same period, the bank has not historically had a credit cost advantage.",
    "output": "[Cause] combined provisioning for 2008 and 2009 exceeding total net interest income for the same period [Relation] cause [Effect] the bank has not historically had a credit cost advantage",
    "gold": "[Cause] With combined provisioning for 2008 and 2009 exceeding total net interest income for the same period [Relation] cause [Effect] the bank has not historically had a credit cost advantage",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "We expect Nutrien's unit costs to remain low, given our midcycle natural gas forecast of $2.80 per thousand cubic feet (Henry Hub) in 2020 real terms.",
    "output": "[Cause] our midcycle natural gas forecast of $2.80 per thousand cubic feet (Henry Hub) in 2020 real terms [Relation] cause [Effect] Nutrien's unit costs to remain low",
    "gold": "[Cause] our midcycle natural gas forecast of $2.80 per thousand cubic feet (Henry Hub) in 2020 real terms [Relation] cause [Effect] We expect Nutrien's unit costs to remain low",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "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 9% following 2020 as it continues to make up a larger portion of the overall top line.",
    "output": "[Cause] it continues to make up a larger portion of the overall top line [Relation] cause [Effect] the firm's growth driver will be its enterprise visibility and mobility segment, which we forecast to grow at a rate of 9% 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 9% following 2020",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "We believe Tractor Supply is somewhat insulated from competitive pricing pressure from Home Depot and Lowe's in overlapping product categories due to the company's focus on rural presence versus its competitors' more urban/suburban focus.",
    "output": "[Cause] the company's focus on rural presence versus its competitors' more urban/suburban focus [Relation] cause [Effect] Tractor Supply is somewhat insulated from competitive pricing pressure from Home Depot and Lowe's in overlapping product categories",
    "gold": "[Cause] due to the company's focus on rural presence versus its competitors' more urban/suburban focus. [Relation] enable [Effect] We believe Tractor Supply is somewhat insulated from competitive pricing pressure from Home Depot and Lowe's in overlapping product categories",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "We suspect that this will benefit Honeywell by allowing it to stay a step ahead of its competitors through enhanced visibility over its installed base.",
    "output": "[Cause] enhanced visibility over its installed base [Relation] enable [Effect] stay a step ahead of its competitors",
    "gold": "[Cause] enhanced visibility over its installed base [Relation] cause [Effect] allowing it to stay a step ahead of its competitors",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "From an ESG standpoint, Walmart's size and success have made it a frequent target of politicians and subject it to a level of media scrutiny that few other retailers face.",
    "output": "[Cause] Walmart's size and success [Relation] enable [Effect] it a frequent target of politicians",
    "gold": "[Cause] Walmart's size and success [Relation] enable [Effect] a frequent target of politicians",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "From an ESG standpoint, Walmart's size and success have made it a frequent target of politicians and subject it to a level of media scrutiny that few other retailers face.",
    "output": "[Cause] Walmart's size and success [Relation] cause [Effect] subject it to a level of media scrutiny that few other retailers face",
    "gold": "[Cause] Walmart's size and success [Relation] enable [Effect] subject it to a level of media scrutiny",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "In line with demographic trends, most of the company's membership growth will probably come from its fully insured business, particularly the fast-growing Medicare Advantage business, which can have an amplified effect on revenue growth.",
    "output": "[Cause] its fully insured business [Relation] cause [Effect] most of the company's membership growth",
    "gold": "[Cause] its fully insured business, particularly the fast-growing Medicare Advantage business [Relation] enable [Effect] most of the company's membership growth",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "If AT&T's services are deemed insufficient or overpriced, especially if in response to weak competition, regulators or politicians could step in.",
    "output": "[Cause] If AT&T's services are deemed insufficient or overpriced, especially if in response to weak competition [Relation] cause [Effect] regulators or politicians could step in",
    "gold": "[Cause] AT&T's services are deemed insufficient or overpriced, especially if in response to weak competition [Relation] cause [Effect] regulators or politicians could step in",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "Operating in offshore environments exposes Chevron 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 exposes Chevron to the risk of large oil spills [Relation] cause [Effect] material losses through lost revenue, fines or penalties, or loss of license to operate",
    "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": true,
    "tag": "substr_valid"
  },
  {
    "input": "We do not think recent double-digit sales growth rates are achievable in the long term as fashion trends change and Adidas' sales base has grown much larger.",
    "output": "[Cause] fashion trends change and Adidas' sales base has grown much larger [Relation] cause [Effect] We do not think recent double-digit sales growth rates are achievable in the long term",
    "gold": "[Cause] fashion trends change and Adidas' sales base has grown much larger [Relation] prevent [Effect] We do not think recent double-digit sales growth rates are achievable",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "This reflects their balance sheet strength, strong profitability, tight risk management and favourable credit ratings--boosted by the government's strong sovereign credit rating.",
    "output": "[Cause] the government's strong sovereign credit rating [Relation] cause [Effect] This reflects their balance sheet strength, strong profitability, tight risk management and favourable credit ratings",
    "gold": "[Cause]  the government's strong sovereign credit rating [Relation] cause [Effect] their balance sheet strength, strong profitability, tight risk management and favourable credit ratings",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "A 5% decrease in mortality rates would lead to a 13-percentage-point decrease in Aviva's Solvency II ratio because of the longer term of payouts in Aviva's annuity business.",
    "output": "[Cause] the longer term of payouts in Aviva's annuity business [Relation] cause [Effect] A 5% decrease in mortality rates would lead to a 13-percentage-point decrease in Aviva's Solvency II ratio",
    "gold": "[Cause] the longer term of payouts in Aviva's annuity business [Relation] cause [Effect] A 5% decrease in mortality rates would lead to a 13-percentage-point decrease in Aviva's Solvency II",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "Tulloch helped get leverage under control again with a GBP 1,500 million debt-reduction plan for 2019-22 and set out the road map for some of the aforementioned business disposals.",
    "output": "[Cause] a GBP 1,500 million debt-reduction plan for 2019-22 [Relation] enable [Effect] Tulloch helped get leverage under control again",
    "gold": "[Cause] a GBP 1,500 million debt-reduction plan for 2019-22 and set out the road map for some of the aforementioned business disposals [Relation] cause [Effect] Tulloch helped get leverage under control again",
    "valid": false,
    "tag": "substr_invalid"
  },
  {
    "input": "Furthermore, we think the firm's scale allows it to better leverage brand investments, such as marketing and research and development expenditures.",
    "output": "[Cause] the firm's scale [Relation] enable [Effect] better leverage brand investments",
    "gold": "[Cause]  the firm's scale [Relation] enable [Effect] it to better leverage brand investments",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "Thanks to recent acquisitions, we expect GAAP margins in the mid-40s in the coming years before reaching 47% by mid-cycle at the end of our forecast, driven by the Internet of Things related sales that we expect to do the heavy lifting.",
    "output": "[Cause] recent acquisitions [Relation] cause [Effect] GAAP margins in the mid-40s in the coming years before reaching 47% by mid-cycle at the end of our forecast",
    "gold": "[Cause] acquisitions [Relation] enable [Effect] GAAP margins in the mid-40s in the coming years before reaching 47%",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "Thanks to recent acquisitions, we expect GAAP margins in the mid-40s in the coming years before reaching 47% by mid-cycle at the end of our forecast, driven by the Internet of Things related sales that we expect to do the heavy lifting.",
    "output": "[Cause] the Internet of Things related sales [Relation] enable [Effect] do the heavy lifting",
    "gold": "[Cause] Internet of Things related sales [Relation] enable [Effect] do the heavy lifting",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "More trading volume generally leads to better liquidity, which allows buyers and sellers to enter and exit their positions with less impact on the price of the asset, reducing implicit trading costs.",
    "output": "[Cause] buyers and sellers to enter and exit their positions with less impact on the price of the asset [Relation] enable [Effect] reducing implicit trading costs",
    "gold": "[Cause] allows buyers and sellers to enter and exit their positions with less impact on the price of the asset [Relation] prevent [Effect]  implicit trading costs",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "Operating margin bottomed out at 20% in 2020, significantly higher than the 14% we'd originally expected thanks to rigorous expense control.",
    "output": "[Cause] rigorous expense control [Relation] cause [Effect] Operating margin bottomed out at 20% in 2020, significantly higher than the 14% we'd originally expected",
    "gold": "[Cause]  rigorous expense control [Relation] cause [Effect] significantly higher than the 14% we'd originally expected",
    "valid": false,
    "tag": "substr_invalid"
  },
  {
    "input": "Third, because Logix works with third-party applications, customers can make incremental improvements to their facilities without having to incur the disruption of an expensive system overhaul.",
    "output": "[Cause] Logix works with third-party applications [Relation] cause [Effect] customers can make incremental improvements to their facilities without having to incur the disruption of an expensive system overhaul",
    "gold": "[Cause]  Logix works with third-party applications [Relation] enable [Effect] customers can make incremental improvements to their facilities",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "Third, because Logix works with third-party applications, customers can make incremental improvements to their facilities without having to incur the disruption of an expensive system overhaul.",
    "output": "[Cause] Logix works with third-party applications [Relation] enable [Effect] customers can make incremental improvements to their facilities without having to incur the disruption of an expensive system overhaul",
    "gold": "[Cause]  Logix works with third-party applications [Relation] prevent [Effect] having to incur the disruption of an expensive system overhaul",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "For competitors, application of therapeutics originally designed for humans to the animal market Drug Manufacturers - Specialty & Genericalso means those firms are unlikely to invest in animal-specific therapies.",
    "output": "[Cause] application of therapeutics originally designed for humans to the animal market Drug Manufacturers - Specialty & Generic [Relation] cause [Effect] those firms are unlikely to invest in animal-specific therapies",
    "gold": "[Cause] application of therapeutics originally designed for humans to the animal market Drug Manufacturers - Specialty & Genericalso [Relation] cause [Effect] those firms are unlikely to invest in animal-specific therapies",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "Along those lines, railroads enjoy roughly quadruple the fuel efficiency of trucking (per ton-mile of freight), and through greater railcar capacity and train length, rails make more effective use of locomotive assets and manpower despite the need for train yard personnel.",
    "output": "[Cause] greater railcar capacity and train length [Relation] enable [Effect] rails make more effective use of locomotive assets and manpower",
    "gold": "[Cause] through greater railcar capacity and train length [Relation] cause [Effect] rails make more effective use of locomotive assets and manpower despite the need for train yard personnel",
    "valid": false,
    "tag": "substr_invalid"
  },
  {
    "input": "Within this system, we believe competition between pillars rather than within pillars defines the competitive landscape of the German banking market.",
    "output": "[Cause] competition between pillars rather than within pillars [Relation] enable [Effect] defines the competitive landscape of the German banking market",
    "gold": "[Cause] competition between pillars rather than within pillars [Relation] cause [Effect] the competitive landscape of the German banking market",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "Second, it is possible that as new TLDs such as .flights gain popularity, demand for .com and .net declines, impacting the lucrative nature of Verisign's exclusive registry service for the two TLDs.",
    "output": "[Cause] new TLDs such as.flights gain popularity, demand for.com and.net declines [Relation] cause [Effect] impacting the lucrative nature of Verisign's exclusive registry service for the two TLDs",
    "gold": "[Cause] Second, it is possible that as new TLDs such as .flights gain popularity, demand for .com and .net declines [Relation] enable [Effect]  impacting the lucrative nature of Verisign's exclusive registry service for the two TLDs",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "In the U.S., the FDA has imposed restrictions on marketing new or modified products that essentially keep new entrants out of the market.",
    "output": "[Cause] the FDA has imposed restrictions on marketing new or modified products [Relation] cause [Effect] keep new entrants out of the market",
    "gold": "[Cause] the FDA has imposed restrictions [Relation] enable [Effect] keep new entrants out of the market",
    "valid": false,
    "tag": "substr_invalid"
  },
  {
    "input": "The most likely source would be a cost advantage, either through closer proximity to customers, which would allow it to spend less on distribution, or a scale advantage, which would provide the firm purchasing power and other scale benefits.",
    "output": "[Cause] a cost advantage, either through closer proximity to customers, which would allow it to spend less on distribution, or a scale advantage, which would provide the firm purchasing power and other scale benefits [Relation] enable [Effect] The most likely source would be a cost advantage",
    "gold": "[Cause] a cost advantage, either through closer proximity to customers, which would allow it to spend less on distribution, or a scale advantage, which would provide the firm purchasing power and other scale benefits [Relation] enable [Effect] The most likely source",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "As potential competitors license a Corteva technology instead of developing their own, they are more likely to spend R&D toward enhancing the base technology rather than invest in products that could usurp market share from Corteva's seeds.",
    "output": "[Cause] potential competitors license a Corteva technology instead of developing their own [Relation] cause [Effect] they are more likely to spend R&D toward enhancing the base technology rather than invest in products that could usurp market share from Corteva's seeds",
    "gold": "[Cause] potential competitors license a Corteva technology [Relation] cause [Effect] they are more likely to spend R&D toward enhancing the base technology",
    "valid": false,
    "tag": "substr_invalid"
  },
  {
    "input": "Extra Space generates revenue through rental income on its wholly owned and joint-venture self-storage facilities, tenant reinsurance, and management fees for third-party facilities.",
    "output": "[Cause] rental income on its wholly owned and joint-venture self-storage facilities, tenant reinsurance, and management fees for third-party facilities [Relation] enable [Effect] Extra Space generates revenue",
    "gold": "[Cause] rental income on its wholly owned and joint-venture self-storage facilities, tenant reinsurance, and management fees for third-party facilities. [Relation] enable [Effect] Extra Space generates revenue",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "Based on the relative stability of timberland prices, and a more diversified customer base thanks to its holdings in New Zealand, our valuation is based on a relatively low 6.7% cost of capital.",
    "output": "[Cause] the relative stability of timberland prices, and a more diversified customer base thanks to its holdings in New Zealand [Relation] cause [Effect] our valuation is based on a relatively low 6.7% cost of capital",
    "gold": "[Cause] Based on the relative stability of timberland prices, and a more diversified customer base thanks to its holdings in New Zealand [Relation] cause [Effect] our valuation is based on a relatively low 6.7% cost of capital",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "Given the significant proportion of the company's asset base that was established from these deals ($4.6 billion from pro forma total assets just shy of $12 billion), we believe it is most appropriate to include goodwill in our ROIC calculations.",
    "output": "[Cause] the significant proportion of the company's asset base that was established from these deals [Relation] cause [Effect] it is most appropriate to include goodwill in our ROIC calculations",
    "gold": "[Cause]  the significant proportion of the company's asset base that was established from these deals ($4.6 billion from pro forma total assets just shy of $12 billion) [Relation] cause [Effect]  it is most appropriate to include goodwill in our ROIC calculations.",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "The residential areas of urban markets are densely populated with a younger population that has a propensity to rent, which supports high occupancies in large apartment buildings.",
    "output": "[Cause] The residential areas of urban markets are densely populated with a younger population that has a propensity to rent [Relation] enable [Effect] supports high occupancies in large apartment buildings",
    "gold": "[Cause] The residential areas of urban markets are densely populated with a younger population that has a propensity to rent [Relation] enable [Effect] high occupancies in large apartment buildings",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "Sales have skyrocketed amid the pandemic, and we expect the crisis has accelerated long-term e-commerce adoption as previously reticent customers effectively forced to try the channel respond to its convenience.",
    "output": "[Cause] previously reticent customers effectively forced to try the channel respond to its convenience [Relation] cause [Effect] the crisis has accelerated long-term e-commerce adoption",
    "gold": "[Cause]  reticent customers effectively forced to try the channel respond to its convenience [Relation] cause [Effect] the crisis has accelerated long-term e-commerce adoption",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "Given the sector's sensitivity to operational mishaps, as reputation is the key element of trust and brand equity, we note that although large branded multinationals will always appeal to final consumers in terms of safety and quality, there is always the possibility of trust erosion in the future.",
    "output": "[Cause] reputation is the key element of trust and brand equity [Relation] cause [Effect] large branded multinationals will always appeal to final consumers in terms of safety and quality, there is always the possibility of trust erosion in the future",
    "gold": "[Cause] reputation is the key element of trust and brand equity [Relation] prevent [Effect] the possibility of trust erosion in the future",
    "valid": false,
    "tag": "substr_invalid"
  },
  {
    "input": "On average, labor costs and maintenance expenses compose about two thirds of operating costs, so prolonged cost-cutting is difficult to achieve.",
    "output": "[Cause] labor costs and maintenance expenses compose about two thirds of operating costs [Relation] cause [Effect] prolonged cost-cutting is difficult to achieve",
    "gold": "[Cause] On average, labor costs and maintenance expenses compose about two thirds of operating costs [Relation] cause [Effect] prolonged cost-cutting is difficult to achieve",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "The firm has also built fixed-line networks and partnered with others, including Italian electric utility Enel, to expand its network reach.",
    "output": "[Cause] The firm has also built fixed-line networks and partnered with others [Relation] enable [Effect] expand its network reach",
    "gold": "[Cause] The firm has also built fixed-line networks and partnered with others, including Italian electric utility Enel [Relation] cause [Effect] expand its network reach",
    "valid": false,
    "tag": "substr_invalid"
  },
  {
    "input": "In addition, there has certainly been some damage to the relationships in Mississippi and Georgia with the delays and cost overruns at the Kemper and Vogtle power plants.",
    "output": "[Cause] the delays and cost overruns at the Kemper and Vogtle power plants [Relation] cause [Effect] there has certainly been some damage to the relationships in Mississippi and Georgia",
    "gold": "[Cause] the delays and cost overruns at the Kemper and Vogtle power plants [Relation] cause [Effect] some damage to the relationships in Mississippi and Georgia",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "With more paid and unpaid users, we believe Match Group could attract more ad dollars, given the growing number of young and millennial users, which is why we model 14% average annual growth in indirect revenue after the pandemic through 2024.",
    "output": "[Cause] more paid and unpaid users [Relation] cause [Effect] Match Group could attract more ad dollars",
    "gold": "[Cause]  more paid and unpaid users [Relation] enable [Effect] we believe Match Group could attract more ad dollars",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "We expect Thermo's contract manufacturing business will pick up the growth mantle in 2021 as vaccine manufacturing efforts accelerate globally.",
    "output": "[Cause] vaccine manufacturing efforts accelerate globally [Relation] cause [Effect] Thermo's contract manufacturing business will pick up the growth mantle in 2021",
    "gold": "[Cause] vaccine manufacturing efforts accelerate globally [Relation] cause [Effect] Thermo's contract manufacturing business will pick up the growth mantle",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "Operating margins have been under pressure with the deceleration of pharmaceutical drug growth due to slower branded drug inflation, shifting mix favoring generic drugs with lower price points, slower introduction of blockbuster drugs, and increasing consolidation and negotiating leverage of its customers, including retail pharmacies and providers.",
    "output": "[Cause] slower branded drug inflation, shifting mix favoring generic drugs with lower price points, slower introduction of blockbuster drugs, and increasing consolidation and negotiating leverage of its customers, including retail pharmacies and providers [Relation] cause [Effect] Operating margins have been under pressure with the deceleration of pharmaceutical drug growth",
    "gold": "[Cause] slower branded drug inflation, shifting mix favoring generic drugs with lower price points, slower introduction of blockbuster drugs, and increasing consolidation and negotiating leverage of its customers, including retail pharmacies and providers [Relation] cause [Effect] the deceleration of pharmaceutical drug growth",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "However, the economics for other renewable energy sources like wind and solar have improved in recent years, presenting a challenge for geothermal development.",
    "output": "[Cause] the economics for other renewable energy sources like wind and solar have improved in recent years [Relation] cause [Effect] a challenge for geothermal development",
    "gold": "[Cause] the economics for other renewable energy sources like wind and solar have improved in recent years [Relation] cause [Effect] presenting a challenge for geothermal development",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "Since Cushman & Wakefield relies heavily on its brand, we would also view any developments that damage its reputation as being injurious to the company.",
    "output": "[Cause] Cushman & Wakefield relies heavily on its brand [Relation] cause [Effect] we would also view any developments that damage its reputation as being injurious to the company",
    "gold": "[Cause] Cushman & Wakefield relies heavily on its brand [Relation] cause [Effect] view any developments that damage its reputation as being injurious to the company",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "Once past the impact from COVID-19, which likely will result in no dividend increase in 2021 and smaller increases in 2022 and 2023 we project increases in line with EPS growth.",
    "output": "[Cause] Once past the impact from COVID-19 [Relation] cause [Effect] no dividend increase in 2021 and smaller increases in 2022 and 2023 we project increases in line with EPS growth",
    "gold": "[Cause] Once past the impact from COVID-19 [Relation] cause [Effect] result in no dividend increase in 2021 and smaller increases in 2022 and 2023 we project increases in line with EPS growth",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "However, we expect the media division to grow more slowly than the web division, as it takes in less security revenue.",
    "output": "[Cause] it takes in less security revenue [Relation] cause [Effect] the media division to grow more slowly than the web division",
    "gold": "[Cause] it takes in less security revenue [Relation] cause [Effect] we expect the media division to grow more slowly than the web division",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "Over the long term, we expect Valero to improve its margin capture rates across the portfolio as investments in improving yield and increased throughput of low-cost feedstock are completed in the coming years.",
    "output": "[Cause] investments in improving yield and increased throughput of low-cost feedstock are completed in the coming years [Relation] enable [Effect] Valero to improve its margin capture rates across the portfolio",
    "gold": "[Cause] investments in improving yield and increased throughput of low-cost feedstock are completed in the coming years [Relation] cause [Effect] we expect Valero to improve its margin capture rates across the portfolio",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "We believe the incremental shift toward digital learning from traditional textbooks will allow the company to remove significant costs from its publishing operations.",
    "output": "[Cause] the incremental shift toward digital learning from traditional textbooks [Relation] enable [Effect] the company to remove significant costs from its publishing operations",
    "gold": "[Cause] We believe the incremental shift toward digital learning from traditional textbooks [Relation] cause [Effect]  will allow the company to remove significant costs from its publishing operations",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "However, over time, improved gross margin results from strong private-label penetration and better operating expense leverage from scale gains could lead to operating margins that rise marginally every year, leading to 10% long-term metrics, in line with the 10% captured in 2020.",
    "output": "[Cause] strong private-label penetration and better operating expense leverage from scale gains [Relation] cause [Effect] improved gross margin",
    "gold": "[Cause] strong private-label penetration and better operating expense leverage [Relation] cause [Effect] improved gross margin",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "While Pilgrim is the second-largest poultry producer in the U.K., the firm is not in the top five European poultry producers, according to Watt Global Media; therefore, we deem it as too small to warrant a scale-driven cost advantage.",
    "output": "[Cause] While Pilgrim is the second-largest poultry producer in the U.K., the firm is not in the top five European poultry producers, according to Watt Global Media [Relation] cause [Effect] too small to warrant a scale-driven cost advantage",
    "gold": "[Cause] While Pilgrim is the second-largest poultry producer in the U.K., the firm is not in the top five European poultry producers | deem it as too small [Relation] prevent [Effect] warrant a scale-driven cost advantage",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "Further, the strong Marriott brand and focus on a managed and franchised structure (97% of rooms) drives a lasting switching cost advantage.",
    "output": "[Cause] the strong Marriott brand and focus on a managed and franchised structure (97% of rooms) [Relation] enable [Effect] drives a lasting switching cost advantage",
    "gold": "[Cause] the strong Marriott brand and focus on a managed and franchised structure (97% of rooms) [Relation] enable [Effect]  a lasting switching cost advantage",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "Its gross margin in the quarter was 140 basis points better than we had expected, leading to adjusted EPS of $1.64 versus our forecast of $1.30. Thus, for the full year, we have increased our adjusted EPS estimate to $3.43 from $3.37 (excludes pretax impairment and store closure charges of about $84 million).",
    "output": "[Cause] Its gross margin in the quarter was 140 basis points better than we had expected, leading to adjusted EPS of $1.64 versus our forecast of $1.30 [Relation] cause [Effect] for the full year, we have increased our adjusted EPS estimate to $3.43 from $3.37 (excludes pretax impairment and store closure charges of about $84 million)",
    "gold": "[Cause] Its gross margin in the quarter was 140 basis points better than we had expected, leading to adjusted EPS of $1.64 versus our forecast of $1.30 [Relation] cause [Effect]  for the full year, we have increased our adjusted EPS estimate to $3.43 from $3.37",
    "valid": false,
    "tag": "substr_invalid"
  },
  {
    "input": "Additionally, such consistent innovation has offered Malibu the ability to lift transaction values over time, further indicating product resonance with consumers.",
    "output": "[Cause] such consistent innovation [Relation] enable [Effect] offered Malibu the ability to lift transaction values over time, further indicating product resonance with consumers",
    "gold": "[Cause] consistent innovation [Relation] enable [Effect] offered Malibu the ability to lift transaction values over time",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "Intel and AMD are the primary licensees of x86 and owners of x86 intellectual property, as they have a cross-licensing agreement that covers the x86 patent portfolio and would be terminated if either firm was acquired or had a change of control.",
    "output": "[Cause] either firm was acquired or had a change of control [Relation] cause [Effect] they have a cross-licensing agreement that covers the x86 patent portfolio and would be terminated",
    "gold": "[Cause] either firm was acquired or had a change of control [Relation] cause [Effect] would be terminated",
    "valid": false,
    "tag": "substr_invalid"
  },
  {
    "input": "Oi entered bankruptcy in June 2016 and has been losing customers to other carriers during its restructuring, which has sharply limited its ability to invest in its networks.",
    "output": "[Cause] Oi entered bankruptcy in June 2016 and has been losing customers to other carriers during its restructuring [Relation] cause [Effect] sharply limited its ability to invest in its networks",
    "gold": "[Cause] Oi entered bankruptcy in June 2016 and has been losing customers to other carriers during its restructuring [Relation] cause [Effect] which has sharply limited its ability to invest in its networks",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "We project adjusted EBITDA margin to expand by about five percentage points between 2019 and 2024, as the same technological factor that leads to deflationary pricing reduces Cogent's network costs.",
    "output": "[Cause] the same technological factor that leads to deflationary pricing reduces Cogent's network costs [Relation] cause [Effect] adjusted EBITDA margin to expand by about five percentage points between 2019 and 2024",
    "gold": "[Cause] technological factor that leads to deflationary pricing reduces Cogent's network costs [Relation] cause [Effect]  adjusted EBITDA margin to expand by about five percentage points between 2019 and 2024",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "We expect steel prices to remain lower for longer due to slowing Chinese fixed-asset investment and the persistence of structural overcapacity on a global scale.",
    "output": "[Cause] slowing Chinese fixed-asset investment and the persistence of structural overcapacity on a global scale [Relation] cause [Effect] steel prices to remain lower for longer",
    "gold": "[Cause] slowing Chinese fixed-asset investment and the persistence of structural overcapacity on a global scale [Relation] cause [Effect] We expect steel prices to remain lower for longer",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "However, because it outsources its production, there are concerns related to human rights and labor issues in its supply chain.",
    "output": "[Cause] it outsources its production [Relation] cause [Effect] there are concerns related to human rights and labor issues in its supply chain",
    "gold": "[Cause] it outsources its production [Relation] cause [Effect] concerns related to human rights and labor issues in its supply chain",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "As long as Verisign continues to meet certain specifications, we believe there is an extremely low probability of the dire outcome of the firm losing its contracts with ICANN.",
    "output": "[Cause] Verisign continues to meet certain specifications [Relation] cause [Effect] there is an extremely low probability of the dire outcome of the firm losing its contracts with ICANN",
    "gold": "[Cause]  Verisign continues to meet certain specifications [Relation] prevent [Effect]  the dire outcome of the firm losing its contracts with ICANN",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "Recognizing the shifting balance of power, ServiceNow has moved beyond trying to become the system of record for the IT function to focus on simplifying and automating workflows.",
    "output": "[Cause] Recognizing the shifting balance of power [Relation] cause [Effect] ServiceNow has moved beyond trying to become the system of record for the IT function to focus on simplifying and automating workflows",
    "gold": "[Cause] the shifting balance of power [Relation] prevent [Effect] ServiceNow has moved beyond trying to become the system of record for the IT function",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "These are complicated operations to run, and if the company doesn't have a clear strategy, a clear target market that it is aiming for, or a strong modus operandi, it often runs into significant managerial issues.",
    "output": "[Cause] the company doesn't have a clear strategy, a clear target market that it is aiming for, or a strong modus operandi [Relation] cause [Effect] runs into significant managerial issues",
    "gold": "[Cause]  the company doesn't have a clear strategy, a clear target market that it is aiming for, or a strong modus operandi [Relation] enable [Effect]  it often runs into significant managerial issues",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "Despite intensifying competition that we believe is diminishing its competitive edge, Dollar General's advantageously located store network, low-priced items, and leverageable supply and distribution capabilities should allow it to deliver economic returns.",
    "output": "[Cause] intensifying competition [Relation] prevent [Effect] its competitive edge",
    "gold": "[Cause] intensifying competition [Relation] cause [Effect] diminishing its competitive edge",
    "valid": false,
    "tag": "substr_invalid"
  },
  {
    "input": "Despite intensifying competition that we believe is diminishing its competitive edge, Dollar General's advantageously located store network, low-priced items, and leverageable supply and distribution capabilities should allow it to deliver economic returns.",
    "output": "[Cause] Dollar General's advantageously located store network, low-priced items, and leverageable supply and distribution capabilities [Relation] enable [Effect] deliver economic returns",
    "gold": "[Cause] Dollar General's advantageously located store network, low-priced items, and leverageable supply and distribution capabilities [Relation] enable [Effect] it to deliver economic returns",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "Thanks to growth in PPD's cash position and EBITDA, the company's net leverage ratio has come down to 4.0 times as of December 2020, which is a substantial improvement from its net debt ratio of 4.7 times adjusted EBITDA following its IPO in February 2020.",
    "output": "[Cause] growth in PPD's cash position and EBITDA [Relation] cause [Effect] the company's net leverage ratio has come down to 4.0 times as of December 2020",
    "gold": "[Cause] growth in PPD's cash position and EBITDA [Relation] enable [Effect] the company's net leverage ratio has come down to 4.0 times",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "Rather, we expect promotional activity to ramp up as inventory builds and retailers restock shelves, particularly if economic conditions remain bleak.",
    "output": "[Cause] inventory builds and retailers restock shelves, particularly if economic conditions remain bleak [Relation] cause [Effect] promotional activity to ramp up",
    "gold": "[Cause] economic conditions remain bleak [Relation] cause [Effect] promotional activity to ramp up as inventory builds and retailers restock shelves",
    "valid": false,
    "tag": "substr_invalid"
  },
  {
    "input": "SL Green has strategically concentrated on central business district properties in New York City in a bid to benefit from the city's supply constrained nature and its pre-eminence as a global talent hub.",
    "output": "[Cause] SL Green has strategically concentrated on central business district properties in New York City [Relation] enable [Effect] benefit from the city's supply constrained nature and its pre-eminence as a global talent hub",
    "gold": "[Cause] strategically concentrated on central business district properties in New York City [Relation] enable [Effect] the city's supply constrained nature and its pre-eminence as a global talent hub",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "Philips is a one-stop shop for imaging-related devices with an established footprint in many hospitals, which positions it to benefit from long-term healthcare trends like the transition to non- or minimally invasive procedures, increased hospital demand for efficiencies or detection of sleep apnea.",
    "output": "[Cause] Philips is a one-stop shop for imaging-related devices with an established footprint in many hospitals [Relation] enable [Effect] positions it to benefit from long-term healthcare trends like the transition to non- or minimally invasive procedures, increased hospital demand for efficiencies or detection of sleep apnea",
    "gold": "[Cause] Philips is a one-stop shop for imaging-related devices with an established footprint in many hospitals [Relation] enable [Effect] benefit from long-term healthcare trends like the transition to non- or minimally invasive procedures, increased hospital demand for efficiencies or detection of sleep apnea",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "Further, we anticipate Gildan's activewear sales will plummet 39% in 2020, as the virus greatly reduces demand for printwear, which is exposed to corporate and consumer spending.",
    "output": "[Cause] the virus greatly reduces demand for printwear, which is exposed to corporate and consumer spending [Relation] cause [Effect] Gildan's activewear sales will plummet 39% in 2020",
    "gold": "[Cause]  the virus greatly reduces demand for printwear [Relation] cause [Effect] Gildan's activewear sales will plummet 39% in 2020",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "With the BBVA acquisition now closed as of June, PNC's focus has shifted toward integration of operations, cost cuts, and ultimately to potential revenue synergies down the road.",
    "output": "[Cause] the BBVA acquisition now closed as of June [Relation] cause [Effect] PNC's focus has shifted toward integration of operations, cost cuts, and ultimately to potential revenue synergies down the road",
    "gold": "[Cause] the BBVA acquisition now closed [Relation] cause [Effect] PNC's focus has shifted toward integration of operations, cost cuts, and ultimately to potential revenue synergies down the road",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "As such, we increased our five-year revenue compound annual growth rate assumption by more than 50 basis points to reflect our more optimistic outlook for Wesco's end markets.",
    "output": "[Cause] we increased our five-year revenue compound annual growth rate assumption by more than 50 basis points [Relation] enable [Effect] reflect our more optimistic outlook for Wesco's end markets",
    "gold": "[Cause] increased our five-year revenue compound annual growth rate assumption by more than 50 basis points [Relation] cause [Effect] our more optimistic outlook for Wesco's end markets",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "However, as the firm's dependence on lower-margin products such as messaging APIs falls and the company rolls out more solutions APIs, we believe GAAP and non-GAAP margin expansion into the mid-60s can take place in the long term.",
    "output": "[Cause] the firm's dependence on lower-margin products such as messaging APIs falls and the company rolls out more solutions APIs [Relation] cause [Effect] GAAP and non-GAAP margin expansion into the mid-60s can take place in the long term",
    "gold": "[Cause] the firm's dependence on lower-margin products such as messaging APIs falls  | the company rolls out more solutions APIs [Relation] enable [Effect] GAAP and non-GAAP margin expansion into the mid-60s can take place in the long term",
    "valid": false,
    "tag": "substr_invalid"
  },
  {
    "input": "However, we believe PC and server customers are now more open to working with AMD due to its recent multi-year stretch of strong execution on releasing high-quality chips, which we expect will translate to excess returns over the next decade.",
    "output": "[Cause] its recent multi-year stretch of strong execution on releasing high-quality chips [Relation] cause [Effect] PC and server customers are now more open to working with AMD",
    "gold": "[Cause] its recent multi-year stretch of strong execution on releasing high-quality chips [Relation] cause [Effect]  we believe PC and server customers are now more open to working with AMD",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "We also think neutrality is important for connected parties. This ensures that larger shippers are not favored over smaller shippers and that no party is forced to use a competitor's software system.",
    "output": "[Cause] We also think neutrality is important for connected parties [Relation] cause [Effect] larger shippers are not favored over smaller shippers and that no party is forced to use a competitor's software system",
    "gold": "[Cause] neutrality is important for connected parties [Relation] enable [Effect] ensures that larger shippers are not favored over smaller shippers and that no party is forced to use a competitor's software system",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "The solid top-line performance should come despite intense competition, but the need to deliver strong value relative to peers should keep margins from moving much higher.",
    "output": "[Cause] the need to deliver strong value relative to peers [Relation] prevent [Effect] margins from moving much higher",
    "gold": "[Cause] the need to deliver strong value relative to peers [Relation] enable [Effect] keep margins from moving much higher",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "As an extension, it opted to delay some previously slated launches (including its lineup of plant-based meat alternatives) to maintain service levels to its retail partners in light of high demand, which we view as prudent.",
    "output": "[Cause] high demand [Relation] cause [Effect] it opted to delay some previously slated launches (including its lineup of plant-based meat alternatives) to maintain service levels to its retail partners",
    "gold": "[Cause]  in light of high demand [Relation] cause [Effect]  it opted to delay some previously slated launches (including its lineup of plant-based meat alternatives) to maintain service levels to its retail partners",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "We think Corning benefits from a cost advantage in substrates and filters, again stemming from its centralized R&D spending, as well as a virtuous cycle with intangible assets in ceramic substrate production.",
    "output": "[Cause] its centralized R&D spending, as well as a virtuous cycle with intangible assets in ceramic substrate production [Relation] cause [Effect] Corning benefits from a cost advantage in substrates and filters",
    "gold": "[Cause] a virtuous cycle with intangible assets in ceramic substrate production [Relation] enable [Effect] Corning benefits from a cost advantage in substrates and filters, again stemming from its centralized R&D spending",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "However, medium- and heavy-duty truck manufacturing is even more capital-intensive and cyclical than the light vehicle group, which constrains economic profit.",
    "output": "[Cause] medium- and heavy-duty truck manufacturing is even more capital-intensive and cyclical than the light vehicle group [Relation] prevent [Effect] economic profit",
    "gold": "[Cause] medium- and heavy-duty truck manufacturing [Relation] prevent [Effect] economic profit",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "We forecast that Terex will experience average annual revenue growth of 1% between 2019 and 2024, which includes a 30% decline in 2020 due to COVID-19 that triggered capital expenditure reductions at rental customers and other end users.",
    "output": "[Cause] COVID-19 that triggered capital expenditure reductions at rental customers and other end users [Relation] cause [Effect] Terex will experience average annual revenue growth of 1% between 2019 and 2024, which includes a 30% decline in 2020",
    "gold": "[Cause]  COVID-19 that triggered capital expenditure reductions [Relation] cause [Effect] Terex will experience average annual revenue growth of 1%",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "The firm also benefits from substantial operating leverage, as additional connections on its existing network have around a 95% margin.",
    "output": "[Cause] additional connections on its existing network have around a 95% margin [Relation] cause [Effect] The firm also benefits from substantial operating leverage",
    "gold": "[Cause] additional connections on its existing network have around a 95% margin [Relation] cause [Effect] firm also benefits from substantial operating leverage",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "Additionally, we believe the acquisition of Starwood (closed in September 2016) has strengthened Marriott's brand advantage, as Starwood's global luxury portfolio complements Marriott's dominant upper-scale position in North America.",
    "output": "[Cause] Starwood's global luxury portfolio complements Marriott's dominant upper-scale position in North America [Relation] cause [Effect] the acquisition of Starwood (closed in September 2016) has strengthened Marriott's brand advantage",
    "gold": "[Cause] Starwood's global luxury portfolio complements Marriott's dominant upper-scale position in North America [Relation] cause [Effect] we believe the acquisition of Starwood (closed in September 2016) has strengthened Marriott's brand advantage",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "Longer term, we expect earnings will fall beginning in the 2023 to 2027 time period as generic pressures on key drugs Revlimid and Eliquis emerge.",
    "output": "[Cause] generic pressures on key drugs Revlimid and Eliquis emerge [Relation] cause [Effect] earnings will fall beginning in the 2023 to 2027 time period",
    "gold": "[Cause] generic pressures on key drugs Revlimid and Eliquis emerge [Relation] cause [Effect] earnings will fall",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "Hanes has suffered disruptions from store closures by wholesale partners (such as Sears and Kmart) in the U.S., and this issue will likely impact sales, especially as the virus puts many retailers into distress.",
    "output": "[Cause] store closures by wholesale partners (such as Sears and Kmart) in the U.S. [Relation] cause [Effect] Hanes has suffered disruptions",
    "gold": "[Cause] wholesale partners (such as Sears and Kmart) in the U.S [Relation] cause [Effect] Hanes has suffered disruptions from store closures",
    "valid": false,
    "tag": "substr_invalid"
  },
  {
    "input": "Fully stocking a branch is challenging without similar product breadth to Caterpillar, hence, why many competitors' products are sold at dealerships that carry multiple product lines.",
    "output": "[Cause] Fully stocking a branch is challenging without similar product breadth to Caterpillar [Relation] cause [Effect] many competitors' products are sold at dealerships that carry multiple product lines",
    "gold": "[Cause] Fully stocking a branch is challenging without similar product breadth to Caterpillar [Relation] cause [Effect] why many competitors' products are sold at dealerships that carry multiple product lines",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "Historically we have thought of the hygiene segment as being more commoditized, but greater penetration of brands such as Dettol could sustain fairly strong short-term growth.",
    "output": "[Cause] greater penetration of brands such as Dettol [Relation] enable [Effect] sustain fairly strong short-term growth",
    "gold": "[Cause] greater penetration of brands [Relation] enable [Effect] sustain fairly strong short-term growth",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "CarMax operates in the cyclical auto industry and the unprecented shutdowns forced by the coronavirus bring massive uncertainty as to the timing and extent of a recovery in consumer demand for used vehicles.",
    "output": "[Cause] the unprecented shutdowns forced by the coronavirus [Relation] cause [Effect] massive uncertainty as to the timing and extent of a recovery in consumer demand for used vehicles",
    "gold": "[Cause] CarMax operates in the cyclical auto industry and the unprecented shutdowns forced by the coronavirus [Relation] enable [Effect] bring massive uncertainty as to the timing and extent of a recovery in consumer demand for used vehicles",
    "valid": false,
    "tag": "substr_invalid"
  },
  {
    "input": "Due to an exceptional product portfolio that will offset challenged end markets, we anticipate revenue will grow at a 4% compound annual rate over our explicit five-year forecast.",
    "output": "[Cause] an exceptional product portfolio that will offset challenged end markets [Relation] cause [Effect] revenue will grow at a 4% compound annual rate over our explicit five-year forecast",
    "gold": "[Cause] an exceptional product portfolio that will offset challenged end markets [Relation] cause [Effect] we anticipate revenue will grow at a 4% compound annual rate over our explicit five-year forecast",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "Additionally, the service business backed by a major national brand, as the commercial business coming from Interline and HD Supply (starting in 2021) 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 commercial business coming from Interline and HD Supply (starting in 2021) could build brand loyalty and keep consumers returning to a trusted source [Relation] cause [Effect] the service business backed by a major national brand",
    "gold": "[Cause]  the commercial business coming from Interline and HD Supply (starting in 2021) could build brand loyalty and keep consumers [Relation] cause [Effect]  the service business backed by a major national brand",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "We believe the firm's Optum franchises layer in more cost and other advantages that add value to shareholders as well as end users of UnitedHealth Group's services.",
    "output": "[Cause] the firm's Optum franchises layer in more cost and other advantages [Relation] enable [Effect] add value to shareholders as well as end users of UnitedHealth Group's services",
    "gold": "[Cause]  the firm's Optum franchises [Relation] enable [Effect] more cost and other advantages | add value to shareholders as well as end users of UnitedHealth Group's services",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "Consequently, it also offers Roper greater than inflation pricing power, giving us confidence that this segment can grow its organic top-line CAGR at about 5% over the next 10 years.",
    "output": "[Cause] it also offers Roper greater than inflation pricing power [Relation] enable [Effect] giving us confidence that this segment can grow its organic top-line CAGR at about 5% over the next 10 years",
    "gold": "[Cause] offers Roper greater than inflation pricing power [Relation] cause [Effect] this segment can grow its organic top-line CAGR at about 5% over the next 10 years",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "Dollar General's recent productivity initiatives (including a shift toward self-distribution of frozen and refrigerated goods and improved stocking practices in distribution centers) should help it maintain its efficiency.",
    "output": "[Cause] Dollar General's recent productivity initiatives [Relation] enable [Effect] it maintain its efficiency",
    "gold": "[Cause] Dollar General's recent productivity initiatives (including a shift toward self-distribution of frozen and refrigerated goods and improved stocking practices in distribution centers) [Relation] enable [Effect] help it maintain its efficiency",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "We think BlackBerry has positioned itself in rapidly growing markets that benefit from secular trends, which should fuel top-line growth.",
    "output": "[Cause] BlackBerry has positioned itself in rapidly growing markets that benefit from secular trends [Relation] enable [Effect] fuel top-line growth",
    "gold": "[Cause] BlackBerry has positioned itself in rapidly growing markets that benefit from secular trends [Relation] enable [Effect]  fuel top-line growth.",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "We don't expect industry Macao gaming revenue to return to 2019 sales levels until early 2022 (unchanged), as we expect pent-up demand to drive traffic.",
    "output": "[Cause] pent-up demand to drive traffic [Relation] cause [Effect] We don't expect industry Macao gaming revenue to return to 2019 sales levels until early 2022 (unchanged)",
    "gold": "[Cause] pent-up demand to drive traffic [Relation] prevent [Effect] industry Macao gaming revenue to return to 2019 sales levels until early 2022 (unchanged)",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "The greatest risk for Oracle, in our view, stems from the shift to cloud computing and whether Oracle can effectively transition its client workloads from on-premises software into Oracle's cloud. This transition affects every aspect of Oracle's business in our view, most directly eliminating the need for any customer to buy Oracle's hardware to run on-premises databases.",
    "output": "[Cause] The greatest risk for Oracle, in our view, stems from the shift to cloud computing and whether Oracle can effectively transition its client workloads from on-premises software into Oracle's cloud [Relation] cause [Effect] affects every aspect of Oracle's business in our view, most directly eliminating the need for any customer to buy Oracle's hardware to run on-premises databases",
    "gold": "[Cause] The greatest risk for Oracle, in our view, stems from the shift to cloud computing and whether Oracle can effectively transition its client workloads from on-premises software into Oracle's cloud [Relation] cause [Effect] This transition affects every aspect of Oracle's business in our view, most directly eliminating the need for any customer to buy Oracle's hardware to run on-premises databases",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "Over the next decade, we expect Hostess to average 3.3% annual organic sales growth as it continues to expand into the dollar and club channels and launches the newly acquired Voortman brand into convenience and drug stores.",
    "output": "[Cause] it continues to expand into the dollar and club channels and launches the newly acquired Voortman brand into convenience and drug stores [Relation] cause [Effect] Hostess to average 3.3% annual organic sales growth",
    "gold": "[Cause] expand into the dollar and club channels and launches the newly acquired Voortman brand into convenience and drug stores [Relation] cause [Effect] Hostess to average 3.3% annual organic sales growth",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "Eaton's portfolio can be divided into two portions--its more legacy industrial sector and its electrical sector, which in our view was strengthened with the acquisition of Cooper Industries in 2012.",
    "output": "[Cause] the acquisition of Cooper Industries in 2012 [Relation] enable [Effect] strengthened",
    "gold": "[Cause] the acquisition of Cooper Industries in 2012 [Relation] cause [Effect] its more legacy industrial sector and its electrical sector, which in our view was strengthened",
    "valid": false,
    "tag": "substr_invalid"
  },
  {
    "input": "The company's franchises have a dedicated user base, providing Activision with the leverage to push more of its games via direct digital channels thus bypassing retailers, generating higher gross margins and improving returns on invested capital.",
    "output": "[Cause] The company's franchises have a dedicated user base [Relation] enable [Effect] providing Activision with the leverage to push more of its games via direct digital channels thus bypassing retailers, generating higher gross margins and improving returns on invested capital",
    "gold": "[Cause] a dedicated user base [Relation] enable [Effect] returns on invested capital",
    "valid": false,
    "tag": "substr_invalid"
  },
  {
    "input": "The company's franchises have a dedicated user base, providing Activision with the leverage to push more of its games via direct digital channels thus bypassing retailers, generating higher gross margins and improving returns on invested capital.",
    "output": "[Cause] The company's franchises have a dedicated user base [Relation] enable [Effect] providing Activision with the leverage to push more of its games via direct digital channels",
    "gold": "[Cause] a dedicated user base [Relation] enable [Effect] more of its games via direct digital channels",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "For Vistar, organic volumes fell 11% in fiscal 2020, and we expect another 2.5% drop in 2021 as movie theaters and entertainment arenas should be slower to recover from the pandemic.",
    "output": "[Cause] movie theaters and entertainment arenas should be slower to recover from the pandemic [Relation] cause [Effect] For Vistar, organic volumes fell 11% in fiscal 2020, and we expect another 2.5% drop in 2021",
    "gold": "[Cause] movie theaters and entertainment arenas should be slower to recover from the pandemic [Relation] cause [Effect] organic volumes fell 11% in fiscal 2020, and we expect another 2.5% drop in 2021",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "Both Visa and Mastercard have paid substantial fines historically related to the oligopolistic nature of the industry, and we see legal and regulatory risk as intrinsic to the business model, given merchants' desires to lower fees.",
    "output": "[Cause] merchants' desires to lower fees [Relation] cause [Effect] legal and regulatory risk as intrinsic to the business model",
    "gold": "[Cause] merchants' desires to lower fees [Relation] cause [Effect]  see legal and regulatory risk as intrinsic to the business model",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "In addition, we see certain switching costs for NetEase's partners, because all the licensed games are operated on NetEase's servers.",
    "output": "[Cause] all the licensed games are operated on NetEase's servers [Relation] cause [Effect] certain switching costs for NetEase's partners",
    "gold": "[Cause] all the licensed games are operated on NetEase's servers [Relation] cause [Effect] we see certain switching costs for NetEase's partners",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "On a standalone basis, we foresee healthy long-term revenue growth for Maxim in certain end markets, such as the automotive and industrial sectors, but perhaps with lesser growth out of the firm's consumer business as it continues to reduce its dependence on Samsung, a former large customer.",
    "output": "[Cause] it continues to reduce its dependence on Samsung, a former large customer [Relation] cause [Effect] lesser growth out of the firm's consumer business",
    "gold": "[Cause] reduce its dependence on Samsung [Relation] prevent [Effect] growth out of the firm's consumer business",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "But successful efficiency efforts and growth in its longer-haul cross-border Mexico franchise enabled it to gradually bolster its balance sheet, improve free cash flow, and bring margins more in line with peers.",
    "output": "[Cause] successful efficiency efforts and growth in its longer-haul cross-border Mexico franchise [Relation] enable [Effect] gradually bolster its balance sheet, improve free cash flow, and bring margins more in line with peers",
    "gold": "[Cause] successful efficiency efforts and growth in its longer-haul cross-border Mexico franchise [Relation] enable [Effect]  it to gradually bolster its balance sheet, improve free cash flow, and bring margins more in line with peers",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "We expect COVID-19 to have a material impact on InterContinental's demand and estimate its revPAR to decline 50% this year.",
    "output": "[Cause] COVID-19 [Relation] cause [Effect] have a material impact on InterContinental's demand and estimate its revPAR to decline 50% this year",
    "gold": "[Cause] We expect COVID-19 to have a material impact on InterContinental's demand [Relation] cause [Effect]  estimate its revPAR to decline 50% this year",
    "valid": false,
    "tag": "substr_invalid"
  },
  {
    "input": "After taking a fresh look at our key valuation assumptions following Wesco's fourth-quarter 2020 earnings release and its 10-K filing, we've raised our fair value estimate 7% to $107 per share.",
    "output": "[Cause] taking a fresh look at our key valuation assumptions following Wesco's fourth-quarter 2020 earnings release and its 10-K filing [Relation] cause [Effect] we've raised our fair value estimate 7% to $107 per share",
    "gold": "[Cause] After taking a fresh look at our key valuation assumptions following Wesco's fourth-quarter 2020 earnings release and its 10-K filing [Relation] enable [Effect] we've raised our fair value estimate 7% to $107 per share",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "The ability to influence distributors' routes, product assortment, and product ramps gives a competitive edge to brewers with outsize volumes.",
    "output": "[Cause] The ability to influence distributors' routes, product assortment, and product ramps [Relation] enable [Effect] a competitive edge to brewers with outsize volumes",
    "gold": "[Cause] The ability to influence distributors' routes, product assortment, and product ramps [Relation] enable [Effect] a competitive edge to brewers with outsize volumes.",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "Regardless, given that Alcoa is beholden to the aluminum commodity cycle, we believe a very high uncertainty rating is appropriate.",
    "output": "[Cause] Alcoa is beholden to the aluminum commodity cycle [Relation] cause [Effect] a very high uncertainty rating is appropriate",
    "gold": "[Cause] Alcoa is beholden to the aluminum commodity cycl [Relation] cause [Effect] a very high uncertainty rating is appropriate",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "Additionally, the concentration of the Essex portfolio in tech-oriented West Coast markets leaves it exposed to the risk of a downturn and a resulting job/income loss in the technology sector.",
    "output": "[Cause] the concentration of the Essex portfolio in tech-oriented West Coast markets [Relation] cause [Effect] exposed to the risk of a downturn",
    "gold": "[Cause] the concentration of the Essex portfolio in tech-oriented West Coast markets [Relation] cause [Effect] the risk of a downturn",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "Without new major acquisitions, revenue growth for Nexstar will be lumpy moving forward because of the even-year impact of elections and Olympic games on ad revenue growth.",
    "output": "[Cause] the even-year impact of elections and Olympic games on ad revenue growth [Relation] cause [Effect] revenue growth for Nexstar will be lumpy moving forward",
    "gold": "[Cause] the even-year impact of elections and Olympic games on ad revenue growth [Relation] cause [Effect] Without new major acquisitions, revenue growth for Nexstar will be lumpy moving forward",
    "valid": false,
    "tag": "substr_invalid"
  },
  {
    "input": "Robotic surgery's acceptance in most of the developed world is significantly lower than in the U.S., and in the absence of formidable competitors (up until recently), Intuitive Surgical should continue to dominate the robotic surgery arena.",
    "output": "[Cause] in the absence of formidable competitors (up until recently) [Relation] cause [Effect] Intuitive Surgical should continue to dominate the robotic surgery arena",
    "gold": "[Cause] Robotic surgery's acceptance in most of the developed world is significantly lower than in the U.S., and in the absence of formidable competitors (up until recently) [Relation] cause [Effect] Intuitive Surgical should continue to dominate the robotic surgery arena",
    "valid": false,
    "tag": "substr_invalid"
  },
  {
    "input": "We also highlight that in 2011, the year of the Fukushima nuclear disaster, EIG's sales of radiation detection equipment saw an appreciable spike, which we believe helped drive segment organic sales growth to record highs on a year-over-year basis (over 17%).",
    "output": "[Cause] EIG's sales of radiation detection equipment saw an appreciable spike [Relation] enable [Effect] segment organic sales growth to record highs on a year-over-year basis",
    "gold": "[Cause] EIG's sales of radiation detection equipment saw an appreciable spike [Relation] enable [Effect] segment organic sales growth to record highs on a year-over-year basis (over 17%)",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "After years of being the darling of the consumer staples large caps, Reckitt Benckiser Group has hit several roadbumps and new management has set a path to return to profitable growth.",
    "output": "[Cause] Reckitt Benckiser Group has hit several roadbumps [Relation] enable [Effect] return to profitable growth",
    "gold": "[Cause] Reckitt Benckiser Group has hit several roadbumps [Relation] enable [Effect] new management has set a path to return to profitable growth",
    "valid": false,
    "tag": "substr_invalid"
  },
  {
    "input": "We view Graco as a GDP-plus business, with the firm's 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] the firm's 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 [Relation] enable [Effect] We view Graco as a GDP-plus business",
    "gold": "[Cause]  with the firm's 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 [Relation] enable [Effect] We view Graco as a GDP-plus business,",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "Once customers decide to outsource these services and shed their associated resource cost, they may be less likely to build these capabilities back up in the future.",
    "output": "[Cause] Once customers decide to outsource these services and shed their associated resource cost [Relation] cause [Effect] they may be less likely to build these capabilities back up in the future",
    "gold": "[Cause]  customers decide to outsource these services and shed their associated resource cost [Relation] cause [Effect] they may be less likely to build these capabilities back up in the future",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "CP could still make a counteroffer, but either way, this is a positive development for KCS shareholders, given the generous offer price.",
    "output": "[Cause] the generous offer price [Relation] cause [Effect] this is a positive development for KCS shareholders",
    "gold": "[Cause] the generous offer price [Relation] enable [Effect] a positive development for KCS shareholders",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "Also, we believe there will be a plethora of scenarios, where purchases are impromptu and the immediacy of the need is high, that will continue to be conducive to physical purchases.",
    "output": "[Cause] purchases are impromptu and the immediacy of the need is high [Relation] cause [Effect] continue to be conducive to physical purchases",
    "gold": "[Cause] a plethora of scenarios, where purchases are impromptu and the immediacy of the need is high [Relation] enable [Effect] physical purchases",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "We expect mid- to high-single-digit growth from the firm's mobile device segment, exceeding management's target of 4%-6% growth, as NFC and UWB solutions become more ubiquitous for payments and secure access.",
    "output": "[Cause] NFC and UWB solutions become more ubiquitous for payments and secure access [Relation] cause [Effect] mid- to high-single-digit growth from the firm's mobile device segment, exceeding management's target of 4%-6% growth",
    "gold": "[Cause] NFC and UWB solutions become more ubiquitous for payments and secure access [Relation] cause [Effect] We expect mid- to high-single-digit growth from the firm's mobile device segment, exceeding management's target of 4%-6% growth",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "We further believe the proliferation of Internet of Things, and the increasing data demands of those products, will keep sales for components within mobile devices and broadband communications sectors ticking.",
    "output": "[Cause] the proliferation of Internet of Things, and the increasing data demands of those products [Relation] enable [Effect] sales for components within mobile devices and broadband communications sectors ticking",
    "gold": "[Cause]  the proliferation of Internet of Things, and the increasing data demands of those products [Relation] cause [Effect] keep sales for components within mobile devices and broadband communications sectors ticking",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "We expect a high-70% decline in 2020 industry Macau gaming revenue (mid-50% decline prior), as quarantine restrictions have remained in place longer than previously expected.",
    "output": "[Cause] quarantine restrictions have remained in place longer than previously expected [Relation] cause [Effect] a high-70% decline in 2020 industry Macau gaming revenue (mid-50% decline prior)",
    "gold": "[Cause] quarantine restrictions have remained in place longer than previously expected [Relation] cause [Effect] a high-70% decline in 2020 industry Macau gaming revenue",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "This strategy is aimed at ensuring the software provides appreciable value and that the customer becomes self-sufficient with the software, which we believe helps lock the customer into the ecosystem.",
    "output": "[Cause] This strategy is aimed at ensuring the software provides appreciable value and that the customer becomes self-sufficient with the software [Relation] enable [Effect] helps lock the customer into the ecosystem",
    "gold": "[Cause] aimed at ensuring the software provides appreciable value and that the customer becomes self-sufficient with the software [Relation] cause [Effect]  helps lock the customer into the ecosystem",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "McDonald's mobile application, anticipated loyalty program launch, and recent acquisition activity are steps in the right direction, with customization, targeted promotions, and increased penetration of the delivery channel offering opportunities to the operators able to get ahead of the curve.",
    "output": "[Cause] customization, targeted promotions, and increased penetration of the delivery channel [Relation] enable [Effect] opportunities to the operators able to get ahead of the curve",
    "gold": "[Cause] customization, targeted promotions, and increased penetration of the delivery channel offering opportunities to the operators [Relation] enable [Effect] get ahead of the curve",
    "valid": false,
    "tag": "substr_invalid"
  },
  {
    "input": "With deep institutional relationships in academia, we believe Wiley is poised for outsize growth, featuring differentiated products delivered based on multiyear contracts.",
    "output": "[Cause] deep institutional relationships in academia [Relation] enable [Effect] Wiley is poised for outsize growth, featuring differentiated products delivered based on multiyear contracts",
    "gold": "[Cause] deep institutional relationships in academia [Relation] enable [Effect] Wiley is poised for outsize growth, featuring differentiated products",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "We believe Agco faces little risk on this front, as the company continues to evolve the sustainability of its products and its impact on the environment.",
    "output": "[Cause] the company continues to evolve the sustainability of its products and its impact on the environment [Relation] cause [Effect] Agco faces little risk on this front",
    "gold": "[Cause] the company continues to evolve the sustainability of its products and its impact on the environment [Relation] cause [Effect] We believe Agco faces little risk on this front",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "We expect the transition toward high-speed rail in China will further be a boon to the numerator in MT's segment-level ROICs, where ITT consistently reports taking significant share.",
    "output": "[Cause] the transition toward high-speed rail in China [Relation] cause [Effect] a boon to the numerator in MT's segment-level ROICs",
    "gold": "[Cause] the transition toward high-speed rail in China [Relation] enable [Effect]  further be a boon to the numerator in MT's segment-level ROICs",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "We think GM's earnings potential is excellent because the company has a healthy North American unit and a nearly mature finance arm with GM Financial.",
    "output": "[Cause] the company has a healthy North American unit and a nearly mature finance arm with GM Financial [Relation] cause [Effect] GM's earnings potential is excellent",
    "gold": "[Cause]  the company has a healthy North American unit and a nearly mature finance arm with GM Financial [Relation] cause [Effect] We think GM's earnings potential is excellent",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "In a recession, investors may not want to hold the stock of a firm whose story will not play out until next decade, or Tesla could fail to raise capital when it needs it.",
    "output": "[Cause] a recession [Relation] cause [Effect] investors may not want to hold the stock of a firm",
    "gold": "[Cause] recession [Relation] cause [Effect]  investors may not want to hold the stock",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "We think Square's business model, characterized by efficient client onboarding, innovative point-of-sale devices, flat fees, and an internally developed and integrated set of software solutions, allows the company to reach and retain micro merchants that are unviable for other acquirers.",
    "output": "[Cause] Square's business model, characterized by efficient client onboarding, innovative point-of-sale devices, flat fees, and an internally developed and integrated set of software solutions [Relation] enable [Effect] the company to reach and retain micro merchants that are unviable for other acquirers",
    "gold": "[Cause] characterized by efficient client onboarding, innovative point-of-sale devices, flat fees, and an internally developed and integrated set of software solutions [Relation] enable [Effect]  the company to reach and retain micro merchants that are unviable for other acquirers",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "In the next five years, we expect Weibo's return on invested capital to increase with the rapid monetization of Weibo and operating leverage.",
    "output": "[Cause] the rapid monetization of Weibo and operating leverage [Relation] cause [Effect] Weibo's return on invested capital to increase",
    "gold": "[Cause] the rapid monetization of Weibo and operating leverage [Relation] enable [Effect] we expect Weibo's return on invested capital to increase",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "To generate high, growing rents, a residential property would have to be located in a market with very strong demographics to support the rent and high barriers to entry.",
    "output": "[Cause] a residential property would have to be located in a market with very strong demographics [Relation] enable [Effect] generate high, growing rents",
    "gold": "[Cause] a residential property would have to be located in a market with very strong demographics to support the rent and high barriers to entry [Relation] cause [Effect] To generate high, growing rents",
    "valid": false,
    "tag": "substr_invalid"
  },
  {
    "input": "Still, with a more aligned and technologically capable distribution system, digitization initiatives to drive engagement and operational efficiency, and vast financial resources, the firm is more than equipped to defend its turf.",
    "output": "[Cause] a more aligned and technologically capable distribution system, digitization initiatives to drive engagement and operational efficiency, and vast financial resources [Relation] enable [Effect] the firm is more than equipped to defend its turf",
    "gold": "[Cause] with a more aligned and technologically capable distribution system, digitization initiatives to drive engagement and operational efficiency, and vast financial resources [Relation] enable [Effect] the firm is more than equipped to defend its turf",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "Consequently, we think fiscal 2021 revenue will be up nearly 20% thanks to improved DRAM pricing as well as greater memory and storage requirements across servers, smartphones, game consoles, and new opportunities for Micron such as embedded DRAM in automotive.",
    "output": "[Cause] improved DRAM pricing as well as greater memory and storage requirements across servers, smartphones, game consoles, and new opportunities for Micron such as embedded DRAM in automotive [Relation] cause [Effect] fiscal 2021 revenue will be up nearly 20%",
    "gold": "[Cause] improved DRAM pricing as well as greater memory and storage requirements across servers, smartphones, game consoles, and new opportunities for Micron [Relation] enable [Effect] fiscal 2021 revenue will be up nearly 20%",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "Even though secularly challenged mainstream categories should continue to weigh disproportionately on the portfolio, we see increasing contributions from above-premium (particularly hard seltzer) as the world returns to normal after the pandemic.",
    "output": "[Cause] the world returns to normal after the pandemic [Relation] cause [Effect] increasing contributions from above-premium (particularly hard seltzer)",
    "gold": "[Cause] the world returns to normal after the pandemic [Relation] cause [Effect]  increasing contributions from above-premium",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "As the contract structure essentially grants a monopoly on the product once the product is granted, we also see some modest switching costs stemming from a lack of viable alternatives, but this is partially mitigated by the government's right to license patents to third parties.",
    "output": "[Cause] the government's right to license patents to third parties [Relation] enable [Effect] some modest switching costs stemming from a lack of viable alternatives",
    "gold": "[Cause] the government's right to license patents to third parties [Relation] prevent [Effect] some modest switching costs",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "Given the limited need for capital in retailing, we would expect average ROICs to surpass our WACC unless the housing market faces another downturn (the firm had mid-single-digit ROICs in 2008-09).",
    "output": "[Cause] the housing market faces another downturn [Relation] cause [Effect] average ROICs to surpass our WACC",
    "gold": "[Cause]  the housing market faces another downturn (the firm had mid-single-digit ROICs in 2008-09) [Relation] prevent [Effect] average ROICs to surpass our WACC",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "The company is introducing and leveraging features across its various cloud offerings (like Sensei artificial intelligence) to drive a more cohesive experience, win new clients, upsell users to higher price point solutions, and cross sell digital media offerings.",
    "output": "[Cause] The company is introducing and leveraging features across its various cloud offerings (like Sensei artificial intelligence) [Relation] enable [Effect] drive a more cohesive experience, win new clients, upsell users to higher price point solutions, and cross sell digital media offerings",
    "gold": "[Cause] The company is introducing and leveraging features across its various cloud offerings [Relation] cause [Effect] a more cohesive experience, win new clients, upsell users to higher price point solutions, and cross sell digital media offerings",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "Upstream operations are primarily focused on the development and production of the Athabasca oil sands and are supplemented with conventional crude oil that provides Suncor with access to higher world pricing.",
    "output": "[Cause] Upstream operations are primarily focused on the development and production of the Athabasca oil sands and are supplemented with conventional crude oil [Relation] enable [Effect] Suncor with access to higher world pricing",
    "gold": "[Cause] Upstream operations are primarily focused on the development and production of the Athabasca oil sands and are supplemented with conventional crude oil [Relation] cause [Effect]  provides Suncor with access to higher world pricing",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "Also, Cisco's products facilitate in the transfer of data, which may attract cybercriminals, and its solutions are tasked with protecting customers from cyberattacks, making data privacy and security a key concern.",
    "output": "[Cause] Cisco's products facilitate in the transfer of data [Relation] cause [Effect] attract cybercriminals",
    "gold": "[Cause] Cisco's products facilitate in the transfer of data [Relation] cause [Effect]  attract cybercriminal",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "Also, Cisco's products facilitate in the transfer of data, which may attract cybercriminals, and its solutions are tasked with protecting customers from cyberattacks, making data privacy and security a key concern.",
    "output": "[Cause] its solutions are tasked with protecting customers from cyberattacks [Relation] cause [Effect] making data privacy and security a key concern",
    "gold": "[Cause]  tasked with protecting customers from cyberattacks [Relation] enable [Effect] making data privacy and security a key concern",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "Integrating the former Keurig and Dr Pepper Snapple businesses will be no small feat, given the size of the predecessor entities and the disparate nature of their operations.",
    "output": "[Cause] the size of the predecessor entities and the disparate nature of their operations [Relation] cause [Effect] Integrating the former Keurig and Dr Pepper Snapple businesses will be no small feat",
    "gold": "[Cause] the disparate nature of their operations | the size of the predecessor entities [Relation] cause [Effect] Integrating the former Keurig and Dr Pepper Snapple businesses will be no small feat",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "However, we think the firm will eke out operating leverage at the sales and marketing and general and administrative lines, which along with gross margin expansion will push ON's non-GAAP operating margin past 20% in 2025.",
    "output": "[Cause] the firm will eke out operating leverage at the sales and marketing and general and administrative lines [Relation] cause [Effect] gross margin expansion will push ON's non-GAAP operating margin past 20% in 2025",
    "gold": "[Cause] the firm will eke out operating leverage at the sales and marketing and general and administrative lines, which along with gross margin expansion [Relation] enable [Effect] push ON's non-GAAP operating margin past 20% in 2025",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "We believe the company deserves credit for creating a more effective member acquisition innovations like the Invite a Friend program and in-app subscription purchasing (which has helped attract members outside of WW's traditional over-50 female demographic).",
    "output": "[Cause] the company deserves credit for creating a more effective member acquisition innovations like the Invite a Friend program and in-app subscription purchasing [Relation] enable [Effect] attract members outside of WW's traditional over-50 female demographic",
    "gold": "[Cause]  the company deserves credit for creating a more effective member acquisition innovations [Relation] cause [Effect] helped attract members outside of WW's traditional over-50 female demographic",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "Pfizer's recent decision to divest its off-patent division Upjohn to create a new company (Viatris) in combination with Mylan should drive accelerating growth at the remaining innovative business at Pfizer.",
    "output": "[Cause] Pfizer's recent decision to divest its off-patent division Upjohn to create a new company (Viatris) in combination with Mylan [Relation] enable [Effect] accelerating growth at the remaining innovative business at Pfizer",
    "gold": "[Cause] Pfizer's recent decision to divest its off-patent division Upjohn to create a new company (Viatris) in combination with Mylan [Relation] cause [Effect] drive accelerating growth at the remaining innovative business at Pfizer",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "Since this business has seen significant growth lately, we think Cushman &amp; Wakefield is poised to better withstand future downturns.",
    "output": "[Cause] this business has seen significant growth lately [Relation] cause [Effect] we think Cushman &amp; Wakefield is poised to better withstand future downturns",
    "gold": "[Cause] this business has seen significant growth lately [Relation] cause [Effect] Cushman &amp; Wakefield is poised to better withstand future downturns",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "We believe the firm holds an informational advantage as an incumbent supplier that gives it an upper hand in competing for design wins upon a product refresh.",
    "output": "[Cause] the firm holds an informational advantage as an incumbent supplier [Relation] enable [Effect] gives it an upper hand in competing for design wins upon a product refresh",
    "gold": "[Cause] the firm holds an informational advantage [Relation] cause [Effect]  gives it an upper hand in competing for design wins upon a product refresh.",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "With widespread loan forbearance and restructuring, write-offs likely won't flow through until the back half of 2020 or first quarter of 2021.",
    "output": "[Cause] widespread loan forbearance and restructuring [Relation] cause [Effect] write-offs likely won't flow through until the back half of 2020 or first quarter of 2021",
    "gold": "[Cause] widespread loan forbearance and restructuring [Relation] cause [Effect] write-offs likely won't flow through until the back half of 2020 or first quarter of 202",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "The firm utilizes technological innovation to improve the user experience in nearly all its Google offerings, while making the sale and purchase of ads efficient for publishers and advertisers.",
    "output": "[Cause] The firm utilizes technological innovation [Relation] enable [Effect] improve the user experience in nearly all its Google offerings",
    "gold": "[Cause]  technological innovation [Relation] enable [Effect]  improve the user experience",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "After reviewing Terex's first-quarter results, we've increased our fair value estimate about 4% to $28 per share, primarily due to increased revenue and margin assumptions in our forecast.",
    "output": "[Cause] increased revenue and margin assumptions in our forecast [Relation] cause [Effect] increased our fair value estimate about 4% to $28 per share",
    "gold": "[Cause] increased revenue and margin assumptions in our forecast [Relation] cause [Effect] we've increased our fair value estimate about 4% to $28 per share",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "However, due to COVID-19 and the increasing uncertainty around the economy and the potential downside, we are currently assigning Huntington a high uncertainty rating.",
    "output": "[Cause] COVID-19 and the increasing uncertainty around the economy and the potential downside [Relation] cause [Effect] we are currently assigning Huntington a high uncertainty rating",
    "gold": "[Cause] COVID-19 and the increasing uncertainty around the economy and the potential downside [Relation] cause [Effect] currently assigning Huntington a high uncertainty rating",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "Our base scenario assumes that the bank's efficiency ratio eventually declines to 54% as management continues its focus on containing costs and as rates eventually rise once again.",
    "output": "[Cause] management continues its focus on containing costs and as rates eventually rise once again [Relation] cause [Effect] the bank's efficiency ratio eventually declines to 54%",
    "gold": "[Cause]  rates eventually rise once again | management continues its focus on containing costs [Relation] enable [Effect]  the bank's efficiency ratio eventually declines to 54%",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "We expect operating margin to over around 30% through 2025, with pricing power in the TAVR franchise and new TMTT technology offsetting increased competition.",
    "output": "[Cause] pricing power in the TAVR franchise and new TMTT technology offsetting increased competition [Relation] cause [Effect] operating margin to over around 30% through 2025",
    "gold": "[Cause] pricing power in the TAVR franchise and new TMTT technology offsetting increased competition [Relation] cause [Effect] We expect operating margin to over around 30% through 2025",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "Whether a pinner immediately takes action or not, in our view advertisers still benefit as they can retarget the same users in the future, further increasing conversion rates.",
    "output": "[Cause] they can retarget the same users in the future, further increasing conversion rates [Relation] cause [Effect] advertisers still benefit",
    "gold": "[Cause] they can retarget the same users in the future, further increasing conversion rates [Relation] cause [Effect] Whether a pinner immediately takes action or not, in our view advertisers still benefit",
    "valid": false,
    "tag": "substr_invalid"
  },
  {
    "input": "Balchem will be able to leverage its market leadership and existing VitaCholine brand to supply rising demand for human-grade choline, improving its product mix and driving the benefits of operating leverage.",
    "output": "[Cause] Balchem will be able to leverage its market leadership and existing VitaCholine brand to supply rising demand for human-grade choline [Relation] enable [Effect] improving its product mix and driving the benefits of operating leverage",
    "gold": "[Cause]  its market leadership and existing VitaCholine brand to supply rising demand for human-grade choline [Relation] enable [Effect]  improving its product mix and driving the benefits of operating leverag",
    "valid": false,
    "tag": "substr_invalid"
  },
  {
    "input": "Margins have dipped recently related to spending in the payments segments, and the impact of the coronavirus pandemic will likely add some pressure in the near term.",
    "output": "[Cause] spending in the payments segments [Relation] cause [Effect] Margins have dipped recently",
    "gold": "[Cause] spending in the payments segments [Relation] cause [Effect] Margins have dipped",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "Revenue fell 1% in 2020 on fewer carloads, falling fuel surcharges, and mix headwinds, but core pricing remained positive and top-line declines moderated throughout the second half.",
    "output": "[Cause] fewer carloads, falling fuel surcharges, and mix headwinds [Relation] cause [Effect] Revenue fell 1% in 2020",
    "gold": "[Cause]  falling fuel surcharges, and mix headwinds [Relation] cause [Effect] Revenue fell 1% in 2020 on fewer carloads",
    "valid": false,
    "tag": "substr_invalid"
  },
  {
    "input": "Along these lines, we continue to see consolidation and fab closures throughout the industry, making it less likely that hefty investments will be made in the power semiconductor arena.",
    "output": "[Cause] consolidation and fab closures throughout the industry [Relation] cause [Effect] less likely that hefty investments will be made in the power semiconductor arena",
    "gold": "[Cause] consolidation and fab closures throughout the industry [Relation] enable [Effect] making it less likely that hefty investments will be made in the power semiconductor arena",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "The company even produces original content for Prime Video to help reinforce the notion that consumers can get anything they need from Amazon.",
    "output": "[Cause] The company even produces original content for Prime Video [Relation] enable [Effect] reinforce the notion that consumers can get anything they need from Amazon",
    "gold": "[Cause] The company even produces original content for Prime Video [Relation] enable [Effect] to help reinforce the notion that consumers can get anything they need from Amazon",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "Because the extensive tools used to prepare bones and install implants are not standardized and differ by company, there is a long learning curve to become proficient in using a company's instrumentation.",
    "output": "[Cause] the extensive tools used to prepare bones and install implants are not standardized and differ by company [Relation] cause [Effect] there is a long learning curve to become proficient in using a company's instrumentation",
    "gold": "[Cause] the extensive tools used to prepare bones and install implants are not standardized and differ by company [Relation] cause [Effect] a long learning curve to become proficient in using a company's instrumentation",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "Accordingly, Ingredion actively hedges against corn price fluctuations in North America, matching hedge volumes with its contracted corn-based ingredient volumes, which helps stabilize gross margins for the segment.",
    "output": "[Cause] Ingredion actively hedges against corn price fluctuations in North America, matching hedge volumes with its contracted corn-based ingredient volumes [Relation] enable [Effect] stabilize gross margins for the segment",
    "gold": "[Cause] Ingredion actively hedges against corn price fluctuations in North America, matching hedge volumes with its contracted corn-based ingredient volumes [Relation] enable [Effect] helps stabilize gross margins for the segment",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "We believe the improvement in and consolidation of its catalogs should increase its parts availability and expand customer choice, which should lead to organic revenue growth.",
    "output": "[Cause] the improvement in and consolidation of its catalogs [Relation] cause [Effect] increase its parts availability and expand customer choice, which should lead to organic revenue growth",
    "gold": "[Cause] the improvement in and consolidation of its catalogs [Relation] enable [Effect] organic revenue growth",
    "valid": false,
    "tag": "substr_invalid"
  },
  {
    "input": "We expect recovery from COVID-19 to further boost top-line growth and result in a 59% increase in 2021 (from 46% in 2020) and 48% year-over-year growth in 2022, representing total revenue of $4 billion and $5.9 billion, respectively.",
    "output": "[Cause] recovery from COVID-19 [Relation] enable [Effect] boost top-line growth and result in a 59% increase in 2021 (from 46% in 2020) and 48% year-over-year growth in 2022, representing total revenue of $4 billion and $5.9 billion, respectively",
    "gold": "[Cause]  recovery from COVID-19 to further boost top-line growth [Relation] cause [Effect] a 59% increase in 2021 (from 46% in 2020) and 48% year-over-year growth in 2022, representing total revenue of $4 billion and $5.9 billion, respectively",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "Sinclair has been one of the most aggressive consolidators of local television stations over the last 30 years as it only owned three television stations in 1991.",
    "output": "[Cause] it only owned three television stations in 1991 [Relation] cause [Effect] Sinclair has been one of the most aggressive consolidators of local television stations over the last 30 years",
    "gold": "[Cause] only owned three television stations in 1991 [Relation] enable [Effect] Sinclair has been one of the most aggressive consolidators of local television stations",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "Additionally, the rejection of merger proposals in 1998 between Royal Bank of Canada and BMO, and between Toronto Dominion and CIBC created a precedent where no further consolidation between the main Canadian banks will be accepted by the regulators.",
    "output": "[Cause] the rejection of merger proposals in 1998 between Royal Bank of Canada and BMO, and between Toronto Dominion and CIBC [Relation] cause [Effect] a precedent where no further consolidation between the main Canadian banks will be accepted by the regulators",
    "gold": "[Cause] the rejection of merger proposals in 1998 between Royal Bank of Canada and BMO, and between Toronto Dominion and CIBC created a precedent [Relation] cause [Effect]  consolidation between the main Canadian banks will be accepted by the regulators",
    "valid": false,
    "tag": "substr_invalid"
  },
  {
    "input": "We believe that Alibaba can increase its monetization rates over time via improved seller conversion rates from personalized search efforts, the embracing of data-enriched marketing tools by mobile sellers, and increased contribution from Tmall.",
    "output": "[Cause] improved seller conversion rates from personalized search efforts, the embracing of data-enriched marketing tools by mobile sellers, and increased contribution from Tmall [Relation] enable [Effect] Alibaba can increase its monetization rates over time",
    "gold": "[Cause]  improved seller conversion rates from personalized search efforts [Relation] enable [Effect] Alibaba can increase its monetization rates over time",
    "valid": false,
    "tag": "substr_invalid"
  },
  {
    "input": "We rate Lloyds' uncertainty as very high as a result of potential worse-than-expected EU withdrawal outcomes while the economy recovers from the coronavirus pandemic.",
    "output": "[Cause] potential worse-than-expected EU withdrawal outcomes while the economy recovers from the coronavirus pandemic [Relation] cause [Effect] We rate Lloyds' uncertainty as very high",
    "gold": "[Cause] potential worse-than-expected EU withdrawal outcomes while the economy recovers from the coronavirus pandemic [Relation] cause [Effect] Lloyds' uncertainty as very high",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "Given our modeling for Cantel sales growth in the 9%-11% range over the next five years, the acquisition should increase Steris' top-line growth rate going forward.",
    "output": "[Cause] our modeling for Cantel sales growth in the 9%-11% range over the next five years [Relation] cause [Effect] the acquisition should increase Steris' top-line growth rate going forward",
    "gold": "[Cause] Given our modeling for Cantel sales growth in the 9%-11% range over the next five years [Relation] enable [Effect] the acquisition should increase Steris' top-line growth rate going forward",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "This extra benefit to Mint users is discrete, in our opinion--meaning a user would not lose a loan after it is secured merely because of leaving Mint.",
    "output": "[Cause] This extra benefit to Mint users is discrete [Relation] cause [Effect] a user would not lose a loan after it is secured merely because of leaving Mint",
    "gold": "[Cause] extra benefit to Mint users is discrete [Relation] cause [Effect] user would not lose a loan after it is secured merely because of leaving Mint",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "By 2016, the market had grown considerably larger and increasingly competitive, with new entrants in the land grab as medical practices and hospitals raced to convert paper records to maximize incentive payments.",
    "output": "[Cause] medical practices and hospitals raced to convert paper records to maximize incentive payments [Relation] cause [Effect] the market had grown considerably larger and increasingly competitive, with new entrants in the land grab",
    "gold": "[Cause] medical practices and hospitals raced to convert paper records to maximize incentive payments [Relation] cause [Effect] By 2016, the market had grown considerably larger and increasingly competitive, with new entrants in the land grab",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "This ability for users to customize their Splunk products and generate personalized analytics and reports is likely to attract new customers for Splunk, which in turn will attract new developers as they can reach a wider audience.",
    "output": "[Cause] This ability for users to customize their Splunk products and generate personalized analytics and reports [Relation] enable [Effect] attract new customers for Splunk",
    "gold": "[Cause] This ability for users to customize their Splunk products and generate personalized analytics and reports [Relation] enable [Effect]  to attract new customers for Splunk",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "In addition to the costs associated with physically disconnecting, moving, and reconnecting equipment, firms engage in mirroring, which is costly, to mitigate those risks and prevent downtime.",
    "output": "[Cause] firms engage in mirroring [Relation] enable [Effect] mitigate those risks and prevent downtime",
    "gold": "[Cause] costs associated with physically disconnecting, moving, and reconnecting equipment, firms engage in mirroring [Relation] enable [Effect]  to mitigate those risks and prevent downtime",
    "valid": false,
    "tag": "substr_invalid"
  },
  {
    "input": "Given PNC's history of successful acquisitions and the strategic fit of the BBVA franchise, we view the integration risks of this acquisition as low.",
    "output": "[Cause] PNC's history of successful acquisitions and the strategic fit of the BBVA franchise [Relation] cause [Effect] we view the integration risks of this acquisition as low",
    "gold": "[Cause] Given PNC's history of successful acquisitions and the strategic fit of the BBVA franchise [Relation] cause [Effect] we view the integration risks of this acquisition as low",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "Eversource is addressing ESG risk through its five-year, $17 billion investment plan focused on supporting clean energy and improving safety and reliability.",
    "output": "[Cause] its five-year, $17 billion investment plan focused on supporting clean energy and improving safety and reliability [Relation] enable [Effect] Eversource is addressing ESG risk",
    "gold": "[Cause]  its five-year, $17 billion investment plan [Relation] enable [Effect] Eversource is addressing ESG risk",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "Tapestry, like many competing firms, outsources its production to factories in Vietnam, China, the Philippines, and other countries and, therefore, has no production cost advantage over others.",
    "output": "[Cause] Tapestry, like many competing firms, outsources its production to factories in Vietnam, China, the Philippines, and other countries [Relation] cause [Effect] has no production cost advantage over others",
    "gold": "[Cause] Tapestry, like many competing firms, outsources its production to factories in Vietnam, China, the Philippines, and other countries [Relation] cause [Effect] no production cost advantage over others",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "We think the dock access is important, given geographic constraints, and it allowed the firm to export 34 million barrels of crude oil in 2016 following the lifting of the export ban in December 2015, as well as another 17 million barrels of processed condensate.",
    "output": "[Cause] the lifting of the export ban in December 2015 [Relation] enable [Effect] the firm to export 34 million barrels of crude oil in 2016",
    "gold": "[Cause] the lifting of the export ban in December 2015 [Relation] enable [Effect] it allowed the firm to export 34 million barrels of crude oil in 2016",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "However, if every interaction of every user required retrieval of information from an origin server, it would lead to higher latency for those that are not physically nearby and would make it more likely for websites to become overwhelmed, leading to slow and frustrating user experiences, including website crashes.",
    "output": "[Cause] every interaction of every user required retrieval of information from an origin server [Relation] cause [Effect] higher latency for those that are not physically nearby",
    "gold": "[Cause] every interaction of every user required retrieval of information from an origin server [Relation] cause [Effect] higher latency for those that are not physically nearby and would make it more likely for websites to become overwhelmed",
    "valid": false,
    "tag": "substr_invalid"
  },
  {
    "input": "Yet, because most uranium is transacted through long-term contracts negotiated years in advance, a disconnect between realized and spot prices makes it appear that lower prices are sufficient.",
    "output": "[Cause] most uranium is transacted through long-term contracts negotiated years in advance [Relation] cause [Effect] a disconnect between realized and spot prices",
    "gold": "[Cause]  most uranium is transacted through long-term contracts negotiated years in advance [Relation] cause [Effect]  a disconnect between realized and spot prices makes it appear that lower prices are sufficient",
    "valid": false,
    "tag": "substr_invalid"
  },
  {
    "input": "Sandvik's tools are consumable in nature and are ISO standard products, which therefore exhibit no positive differentiation versus those of peers such as Kennametal and Iscar.",
    "output": "[Cause] Sandvik's tools are consumable in nature and are ISO standard products [Relation] cause [Effect] exhibit no positive differentiation versus those of peers such as Kennametal and Iscar",
    "gold": "[Cause] Sandvik's tools are consumable in nature and are ISO standard products [Relation] cause [Effect] no positive differentiation versus those of peers such as Kennametal and Iscar",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "The difference between our premerger valuation of EUR 18 and our current EUR 25 fair value estimates is primarily attributable to the increase in average margin during our Stage I forecast as COVID-19-affected 2020 rolled off while operating leverage improves through our explicit forecast period.",
    "output": "[Cause] COVID-19-affected 2020 rolled off while operating leverage improves through our explicit forecast period [Relation] cause [Effect] The difference between our premerger valuation of EUR 18 and our current EUR 25 fair value estimates is primarily attributable to the increase in average margin during our Stage I forecast",
    "gold": "[Cause]  COVID-19-affected 2020 rolled off while operating leverage improves [Relation] cause [Effect] the increase in average margin during our Stage I forecast",
    "valid": false,
    "tag": "substr_invalid"
  },
  {
    "input": "Its low-cost portfolio gives it high return investment options to grow in a rising price environment while its strong financial position keeps the dividend safe in a down cycle.",
    "output": "[Cause] Its low-cost portfolio gives it high return investment options to grow in a rising price environment [Relation] enable [Effect] its strong financial position keeps the dividend safe in a down cycle",
    "gold": "[Cause] Its low-cost portfolio [Relation] enable [Effect] high return investment options to grow in a rising price environment while its strong financial position keeps the dividend safe in a down cycle",
    "valid": false,
    "tag": "substr_invalid"
  },
  {
    "input": "At the same time, younger consumers are increasingly valuing experiences over material goods and are allocating their disposable income accordingly. These trends have driven strong growth in the ticket sales, which has grown from $1.7 billion in 2000 to $4.2 billion in 2008 to $10.4 billion in 2018 in North America alone according to Pollstar.",
    "output": "[Cause] younger consumers are increasingly valuing experiences over material goods and are allocating their disposable income accordingly [Relation] cause [Effect] driven strong growth in the ticket sales, which has grown from $1.7 billion in 2000 to $4.2 billion in 2008 to $10.4 billion in 2018 in North America alone according to Pollstar",
    "gold": "[Cause] younger consumers are increasingly valuing experiences over material goods and are allocating their disposable income accordingly [Relation] cause [Effect] strong growth in the ticket sales, which has grown from $1.7 billion in 2000 to $4.2 billion in 2008 to $10.4 billion in 2018 in North America alone according to Pollstar",
    "valid": false,
    "tag": "substr_invalid"
  },
  {
    "input": "In Asia, where Ralph Lauren trails some competitors, we expect 6% compound average annual sales growth over the next decade as stores open and e-commerce expands in mainland China.",
    "output": "[Cause] stores open and e-commerce expands in mainland China [Relation] cause [Effect] 6% compound average annual sales growth over the next decade",
    "gold": "[Cause] stores open and e-commerce expands in mainland China [Relation] cause [Effect]  Ralph Lauren trails some competitors, we expect 6% compound average annual sales growth over the next decade",
    "valid": false,
    "tag": "substr_invalid"
  },
  {
    "input": "If CMS can keep rate increases modest by controlling operating costs, the prospect of regulatory pushback will be less daunting, even if a COVID-19 slowdown persists.",
    "output": "[Cause] CMS can keep rate increases modest by controlling operating costs [Relation] cause [Effect] the prospect of regulatory pushback will be less daunting, even if a COVID-19 slowdown persists",
    "gold": "[Cause] If CMS can keep rate increases modest by controlling operating costs [Relation] cause [Effect] the prospect of regulatory pushback will be less daunting",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "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] cause [Effect] healthy new customer growth and upselling opportunities with existing customers",
    "gold": "[Cause] secular trends that should support increased adoption of CCaaS products as well as NICE's shift to a cloud-based platform [Relation] cause [Effect] lead to healthy new customer growth and upselling opportunities with existing customers",
    "valid": false,
    "tag": "substr_invalid"
  },
  {
    "input": "Executing a long-term fee-based contract with Phillips 66 for the LPG assets would reduce the partnership's commodity market exposure and support a well-covered distribution.",
    "output": "[Cause] Executing a long-term fee-based contract with Phillips 66 for the LPG assets [Relation] enable [Effect] reduce the partnership's commodity market exposure",
    "gold": "[Cause] Executing a long-term fee-based contract with Phillips 66 for the LPG assets [Relation] prevent [Effect] the partnership's commodity market exposure",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "Executing a long-term fee-based contract with Phillips 66 for the LPG assets would reduce the partnership's commodity market exposure and support a well-covered distribution.",
    "output": "[Cause] Executing a long-term fee-based contract with Phillips 66 for the LPG assets [Relation] enable [Effect] reduce the partnership's commodity market exposure and support a well-covered distribution",
    "gold": "[Cause] Executing a long-term fee-based contract with Phillips 66 for the LPG assets [Relation] enable [Effect] a well-covered distribution",
    "valid": false,
    "tag": "substr_invalid"
  },
  {
    "input": "We model non-IFRS operating margins increasing from 23% in fiscal 2020 (actual) to 28% in fiscal 2025, driven by scale across all operating expenses, mainly research and development, as the transition matures.",
    "output": "[Cause] scale across all operating expenses, mainly research and development, as the transition matures [Relation] cause [Effect] non-IFRS operating margins increasing from 23% in fiscal 2020 (actual) to 28% in fiscal 2025",
    "gold": "[Cause] scale across all operating expenses, mainly research and development [Relation] cause [Effect] non-IFRS operating margins increasing from 23% in fiscal 2020 (actual) to 28% in fiscal 2025",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "As CoreSite expanded its footprint, occupancy dipped from around 90% at the end of 2017 and 2018 to under 85% at the end of 2020, and we expect it will gradually climb back to 2018 levels over the course of the next decade.",
    "output": "[Cause] CoreSite expanded its footprint [Relation] cause [Effect] occupancy dipped from around 90% at the end of 2017 and 2018 to under 85% at the end of 2020",
    "gold": "[Cause] CoreSite expanded its footprint [Relation] cause [Effect] occupancy dipped",
    "valid": false,
    "tag": "substr_invalid"
  },
  {
    "input": "Furthermore, EV chargers distribute relatively little energy and operate at low utilization rates likely making them a poor earnings substitute for selling gasoline.",
    "output": "[Cause] EV chargers distribute relatively little energy and operate at low utilization rates [Relation] cause [Effect] making them a poor earnings substitute for selling gasoline",
    "gold": "[Cause] EV chargers distribute relatively little energy and operate at low utilization rates [Relation] cause [Effect] them a poor earnings substitute for selling gasoline",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "Given Weibo's large MAU, there could be overcollection or abuse of personal data that may lead to fine by the regulator or user backlash.",
    "output": "[Cause] Overcollection or abuse of personal data [Relation] cause [Effect] fine by the regulator or user backlash",
    "gold": "[Cause] overcollection or abuse of personal data [Relation] cause [Effect] fine by the regulator or user backlash",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "Although we estimate this exit, combined with the expected divestiture of natural gas distribution utilities in Oklahoma and Arkansas, will pressure earnings, it provides capital for annual utility rate base growth that we estimate will be near 10% over 2020-25.",
    "output": "[Cause] this exit, combined with the expected divestiture of natural gas distribution utilities in Oklahoma and Arkansas [Relation] cause [Effect] pressure earnings",
    "gold": "[Cause] we estimate this exit | the expected divestiture of natural gas distribution utilities in Oklahoma and Arkansas [Relation] enable [Effect] pressure earnings",
    "valid": false,
    "tag": "substr_invalid"
  },
  {
    "input": "The hassles of switching providers, penalties for early withdrawals, and the limited number of competitors that have branded themselves as tax-avoidance specialists have all served to strengthen the hold Eaton Vance has over these assets once they've been invested with the firm.",
    "output": "[Cause] The hassles of switching providers, penalties for early withdrawals, and the limited number of competitors that have branded themselves as tax-avoidance specialists [Relation] enable [Effect] strengthen the hold Eaton Vance has over these assets once they've been invested with the firm",
    "gold": "[Cause] The hassles of switching providers, penalties for early withdrawals, and the limited number of competitors that have branded themselves as tax-avoidance specialists [Relation] cause [Effect] strengthen the hold Eaton Vance has over these assets",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "We think the firm's legacy segment, asset intelligence and tracking, will grow at an annual rate of 3% after 2020, maintaining Zebra's share in the slower-growth barcode printing market.",
    "output": "[Cause] the firm's legacy segment, asset intelligence and tracking, will grow at an annual rate of 3% after 2020 [Relation] enable [Effect] maintaining Zebra's share in the slower-growth barcode printing market",
    "gold": "[Cause]  the firm's legacy segment, asset intelligence and tracking, will grow at an annual rate of 3% after 2020 [Relation] enable [Effect]  maintaining Zebra's share in the slower-growth barcode printing market.",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "Macroeconomic risks are those related to the housing market and the credit and debt cycle, which are largely out of management's control.",
    "output": "[Cause] Macroeconomic risks are those related to the housing market and the credit and debt cycle [Relation] cause [Effect] are largely out of management's control",
    "gold": "[Cause] Macroeconomic risks are those related to the housing market and the credit and debt cycle [Relation] cause [Effect] largely out of management's control",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "We are raising our fair value estimate is $138 per share, which is 1.1 times book value per share as of December 2020, to reflect strong auto loan performance and lower credit cost assumptions for 2021 as paydown rates remain at historic highs.",
    "output": "[Cause] paydown rates remain at historic highs [Relation] cause [Effect] We are raising our fair value estimate is $138 per share, which is 1.1 times book value per share as of December 2020",
    "gold": "[Cause]  paydown rates remain at historic highs [Relation] cause [Effect] raising our fair value estimate is $138 per share",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "Our calls for 3% comparable growth for 2021 are at the high end of management's guidance range (1% at the low end) and up from flat prior to O'Reilly's first-quarter earnings announcement, as a cold winter in the U.S., economic stimulus, and recovering miles driven cushion difficult comparisons.",
    "output": "[Cause] a cold winter in the U.S., economic stimulus, and recovering miles driven cushion difficult comparisons [Relation] cause [Effect] Our calls for 3% comparable growth for 2021 are at the high end of management's guidance range (1% at the low end) and up from flat prior to O'Reilly's first-quarter earnings announcement",
    "gold": "[Cause] a cold winter in the U.S., economic stimulus, and recovering miles driven cushion difficult comparisons [Relation] cause [Effect] up from flat prior to",
    "valid": false,
    "tag": "substr_invalid"
  },
  {
    "input": "While Match Group has been a first-mover in creating useful and attractive features on its offerings such as the right and left swipes, match likelihood, passport, or boost on Tinder, we note that it lacks intangible assets protecting such innovation, practically eliminating any barriers to entry. For this reason, Match Group continuously competes with other online dating service providers such as Spark Networks (which focuses mostly on singles within different religious groups), and the more direct Tinder competitors such as Bumble (founded by one of Tinder's cofounders), Hinge, France-based Happn, and The Grade.",
    "output": "[Cause] While Match Group has been a first-mover in creating useful and attractive features on its offerings such as the right and left swipes, match likelihood, passport, or boost on Tinder, we note that it lacks intangible assets protecting such innovation, practically eliminating any barriers to entry [Relation] cause [Effect] Match Group continuously competes with other online dating service providers such as Spark Networks (which focuses mostly on singles within different religious groups), and the more direct Tinder competitors such as Bumble (founded by one of Tinder's cofounders",
    "gold": "[Cause] Match Group has been a first-mover in creating useful and attractive features on its offerings such as the right and left swipes, match likelihood, passport, or boost on Tinder, we note that it lacks intangible assets protecting such innovation, practically eliminating any barriers to entry [Relation] cause [Effect] Match Group continuously competes with other online dating service providers such as Spark Networks (which focuses mostly on singles within different religious groups), and the more direct Tinder competitors such as Bumble",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "In 2018, HPE pledged a $4 billion commitment to organically innovate within this segment, and we believe that edge computing may offer long-term growth possibilities as computing and analytics move closer to the user instead of crunching data in a centralized data center.",
    "output": "[Cause] computing and analytics move closer to the user instead of crunching data in a centralized data center [Relation] cause [Effect] edge computing may offer long-term growth possibilities",
    "gold": "[Cause] as computing and analytics move closer to the user instead of crunching data in a centralized data center [Relation] cause [Effect] In 2018, HPE pledged a $4 billion commitment to organically innovate within this segment, and we believe that edge computing may offer long-term growth possibilities",
    "valid": false,
    "tag": "substr_invalid"
  },
  {
    "input": "Within this segment, we think these proprietary consumables have very high switching costs because customers can't substitute Alcon's products with those of competitors.",
    "output": "[Cause] customers can't substitute Alcon's products with those of competitors [Relation] cause [Effect] these proprietary consumables have very high switching costs",
    "gold": "[Cause] customers can't substitute Alcon's products with those of competitors [Relation] cause [Effect] these proprietary consumables have very high switching cost",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "Consumer demand remains vibrant, and operating margins, which outperformed in 2020 due to the dearth of available marketing occasions (concerts and sporting events, for example), will likely sustain without commensurate brand investment over the medium term.",
    "output": "[Cause] the dearth of available marketing occasions (concerts and sporting events, for example) [Relation] cause [Effect] Consumer demand remains vibrant, and operating margins, which outperformed in 2020",
    "gold": "[Cause]  the dearth of available marketing occasions [Relation] cause [Effect] Consumer demand remains vibrant",
    "valid": false,
    "tag": "substr_invalid"
  },
  {
    "input": "While the customer penetration rates remain low, with a single-digit level of the global population ever having cruised, we believe low switching costs could hinder the growth rate of cruisers, decreasing our confidence that Royal is poised to generate ROICs above our WACC estimate over an extended period.",
    "output": "[Cause] low switching costs [Relation] prevent [Effect] our confidence that Royal is poised to generate ROICs above our WACC estimate over an extended period",
    "gold": "[Cause] low switching costs could hinder the growth rate of cruisers [Relation] cause [Effect] decreasing our confidence that Royal is poised to generate ROICs above our WACC estimate over an extended period",
    "valid": false,
    "tag": "substr_invalid"
  },
  {
    "input": "We forecast five-year average annual revenue growth of 4.6% for CNH Industrial, driven largely by 5% average revenue growth in its agricultural equipment segment, followed by similar levels of growth for construction, commercial, and powertrain revenue.",
    "output": "[Cause] 5% average revenue growth in its agricultural equipment segment, followed by similar levels of growth for construction, commercial, and powertrain revenue [Relation] cause [Effect] five-year average annual revenue growth of 4.6% for CNH Industrial",
    "gold": "[Cause]  5% average revenue growth in its agricultural equipment segment, followed by similar levels of growth for construction, commercial, and powertrain revenue [Relation] enable [Effect] We forecast five-year average annual revenue growth of 4.6% for CNH Industrial",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "We believe Masco's efforts to contain costs through its lean business operating system should bolster Masco's profitability over our forecast.",
    "output": "[Cause] Masco's efforts to contain costs through its lean business operating system [Relation] enable [Effect] bolster Masco's profitability over our forecast",
    "gold": "[Cause] Masco's efforts to contain costs through its lean business operating system [Relation] enable [Effect] bolster Masco's profitability",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "In our view, as more individuals remain at home due to lockdowns and quarantines, they will spend more time on Facebook and Instagram not only engaging with other users, but also seeking additional information regarding many COVID-19-relevant topics.",
    "output": "[Cause] more individuals remain at home [Relation] cause [Effect] they will spend more time on Facebook and Instagram not only engaging with other users, but also seeking additional information regarding many COVID-19-relevant topics",
    "gold": "[Cause] more individuals remain at home [Relation] enable [Effect] spend more time on Facebook and Instagram",
    "valid": false,
    "tag": "substr_invalid"
  },
  {
    "input": "In the past, payers were slower to adopt telehealth relative to self-funded employers, but recent payer pilots have started to realize advertised cost savings, which will likely improve traction and the ability to further sell into existing customers (75 million lives).",
    "output": "[Cause] payer pilots have started to realize advertised cost savings [Relation] enable [Effect] improve traction and the ability to further sell into existing customers",
    "gold": "[Cause] recent payer pilots have started to realize advertised cost savings [Relation] cause [Effect] improve traction and the ability to further sell into existing customers",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "We do see risks emanating from potential government backlash because of perceived disparity in pricing between the United States and Europe.",
    "output": "[Cause] perceived disparity in pricing between the United States and Europe [Relation] cause [Effect] risks emanating from potential government backlash",
    "gold": "[Cause]  because of perceived disparity in pricing between the United States and Europe [Relation] cause [Effect] We do see risks emanating from potential government backlash",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "We are maintaining our $22 per share fair value estimate after incorporating full-year fiscal results that included a 17% sales decline and operating losses.",
    "output": "[Cause] incorporating full-year fiscal results that included a 17% sales decline and operating losses [Relation] cause [Effect] We are maintaining our $22 per share fair value estimate",
    "gold": "[Cause]  full-year fiscal results that included a 17% sales decline and operating losses [Relation] cause [Effect] We are maintaining our $22 per share fair value estimate",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "Seagate faces risk from the secular decline of PC unit sales, which account for a significant portion of its sales.",
    "output": "[Cause] the secular decline of PC unit sales [Relation] cause [Effect] Seagate faces risk",
    "gold": "[Cause] the secular decline of PC unit sales, which account for a significant portion of its sales [Relation] cause [Effect] Seagate faces risk",
    "valid": false,
    "tag": "substr_invalid"
  },
  {
    "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.",
    "output": "[Cause] the controversy around the investigation added uncertainty [Relation] cause [Effect] a decline in Infuse sales",
    "gold": "[Cause] the controversy around the investigation [Relation] cause [Effect] uncertainty and contributed to a decline in Infuse sales",
    "valid": false,
    "tag": "substr_invalid"
  },
  {
    "input": "Through gross margin expansion and revenue outpacing operating expenditures, we model operating margins expanding into the mid-20% range by 2024 versus 16% in 2019.",
    "output": "[Cause] gross margin expansion and revenue outpacing operating expenditures [Relation] cause [Effect] operating margins expanding into the mid-20% range by 2024 versus 16% in 2019",
    "gold": "[Cause] gross margin expansion and revenue outpacing operating expenditures [Relation] cause [Effect] we model operating margins expanding into the mid-20% range by 2024 versus 16% in 2019",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "Sensient's consistent free cash flow generation should allow the company to maintain a strong financial condition and capitalize on value-accretive, tuck-in merger and acquisition opportunities when they arise.",
    "output": "[Cause] Sensient's consistent free cash flow generation [Relation] enable [Effect] the company to maintain a strong financial condition and capitalize on value-accretive, tuck-in merger and acquisition opportunities when they arise",
    "gold": "[Cause] Sensient's consistent free cash flow generation [Relation] enable [Effect]  the company to maintain a strong financial condition",
    "valid": false,
    "tag": "substr_invalid"
  },
  {
    "input": "We think this elevated volume of near-term deliveries, in addition to the likely development of more-affordable suburban apartments and single-family homes, will continue to pressure market rents and will offset much of the demand growth created by positive demographic trends.",
    "output": "[Cause] this elevated volume of near-term deliveries [Relation] cause [Effect] pressure market rents",
    "gold": "[Cause] this elevated volume of near-term deliveries, in addition to the likely development of more-affordable suburban apartments and single-family homes [Relation] cause [Effect] continue to pressure market rents",
    "valid": false,
    "tag": "substr_invalid"
  },
  {
    "input": "We think this elevated volume of near-term deliveries, in addition to the likely development of more-affordable suburban apartments and single-family homes, will continue to pressure market rents and will offset much of the demand growth created by positive demographic trends.",
    "output": "[Cause] this elevated volume of near-term deliveries, in addition to the likely development of more-affordable suburban apartments and single-family homes [Relation] cause [Effect] pressure market rents and will offset much of the demand growth created by positive demographic trends",
    "gold": "[Cause] this elevated volume of near-term deliveries, in addition to the likely development of more-affordable suburban apartments and single-family homes [Relation] prevent [Effect] the demand growth created by positive demographic trends",
    "valid": false,
    "tag": "substr_invalid"
  },
  {
    "input": "COVID-19 is also bringing massive uncertainty to the near-term auto demand environment, which may force Sonic to rely more on service and used vehicles.",
    "output": "[Cause] COVID-19 is also bringing massive uncertainty to the near-term auto demand environment [Relation] cause [Effect] Sonic to rely more on service and used vehicles",
    "gold": "[Cause] COVID-19 is also bringing massive uncertainty to the near-term auto demand environment [Relation] enable [Effect] may force Sonic to rely more on service and used vehicles",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "Similarly, a major product transition to Citrix Cloud could lead to customer loss, which we also see no signs of since the product release.",
    "output": "[Cause] a major product transition to Citrix Cloud [Relation] cause [Effect] customer loss",
    "gold": "[Cause] Similarly, a major product transition to Citrix Cloud [Relation] cause [Effect] customer loss, which we also see no signs of since the product release",
    "valid": false,
    "tag": "substr_invalid"
  },
  {
    "input": "The company sells its products through a dedicated salesforce that maintains client relationships, building trust and enabling it to use its reputation to ease adoption of new product offerings in areas that are often mission-critical and subject to regulatory scrutiny.",
    "output": "[Cause] The company sells its products through a dedicated salesforce that maintains client relationships, building trust and enabling it to use its reputation [Relation] enable [Effect] ease adoption of new product offerings in areas that are often mission-critical and subject to regulatory scrutiny",
    "gold": "[Cause] a dedicated salesforce that maintains client relationships, building trust [Relation] enable [Effect] it to use its reputation to ease adoption of new product offerings in areas that are often mission-critical and subject to regulatory scrutiny",
    "valid": false,
    "tag": "substr_invalid"
  },
  {
    "input": "We model a roughly 150-basis-point operating margin expansion in the welding business, to management's long-term target of around 15%, driven by volume leverage, mix shift, and ongoing productivity initiatives.",
    "output": "[Cause] volume leverage, mix shift, and ongoing productivity initiatives [Relation] cause [Effect] We model a roughly 150-basis-point operating margin expansion in the welding business, to management's long-term target of around 15%",
    "gold": "[Cause] driven by volume leverage, mix shift, and ongoing productivity initiatives [Relation] enable [Effect] We model a roughly 150-basis-point operating margin expansion in the welding business, to management's long-term target of around 15%",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "We expect net revenue to grow faster than portions of Uber's cost of revenue, including hosting, transaction processing, and insurance costs, which will result in gross margin expansion.",
    "output": "[Cause] We expect net revenue to grow faster than portions of Uber's cost of revenue, including hosting, transaction processing, and insurance costs [Relation] cause [Effect] gross margin expansion",
    "gold": "[Cause] net revenue to grow faster than portions of Uber's cost of revenue, including hosting, transaction processing, and insurance costs [Relation] cause [Effect] gross margin expansion",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "As the global economy recovers, we expect Fortune Brands' operating margin to continue to improve, and we expect the company will near its 15% operating margin target over the next few years.",
    "output": "[Cause] the global economy recovers [Relation] cause [Effect] Fortune Brands' operating margin to continue to improve",
    "gold": "[Cause] the global economy recovers [Relation] cause [Effect] we expect Fortune Brands' operating margin to continue to improve, and we expect the company will near its 15% operating margin target over the next few years",
    "valid": false,
    "tag": "substr_invalid"
  },
  {
    "input": "A concurrent improvement in contract prices (toward our $65 midcycle estimate) and new low-cost production from Cigar Lake should help Cameco clear its cost of capital over the long term.",
    "output": "[Cause] A concurrent improvement in contract prices (toward our $65 midcycle estimate) and new low-cost production from Cigar Lake [Relation] enable [Effect] help Cameco clear its cost of capital over the long term",
    "gold": "[Cause] A concurrent improvement in contract prices (toward our $65 midcycle estimate) and new low-cost production from Cigar Lake [Relation] enable [Effect] Cameco clear its cost of capital over the long term",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "More important, BlackRock continues to see solid organic growth from its higher fee earning active equity platform, which provides some offset to ongoing fee compression.",
    "output": "[Cause] BlackRock continues to see solid organic growth from its higher fee earning active equity platform [Relation] cause [Effect] provides some offset to ongoing fee compression",
    "gold": "[Cause] BlackRock continues to see solid organic growth from its higher fee earning active equity platform [Relation] prevent [Effect] ongoing fee compression",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "Domino's global technology platform includes a digital loyalty program with a rewards system, electronic customer profiling, geo-tracking of pizzas being delivered to customer homes, and customer geo-tracking to have carryout pizzas ready just as they enter the store.",
    "output": "[Cause] Domino's global technology platform includes a digital loyalty program with a rewards system, electronic customer profiling, geo-tracking of pizzas being delivered to customer homes, and customer geo-tracking to have carryout pizzas ready just as they enter the store [Relation] enable [Effect] Domino's global technology platform includes a digital loyalty program with a rewards system, electronic customer profiling, geo-tracking of pizzas being delivered to customer homes, and customer geo-tracking to have carryout pizzas ready just as they enter the store",
    "gold": "[Cause] Domino's global technology platform [Relation] enable [Effect] a digital loyalty program with a rewards system, electronic customer profiling, geo-tracking of pizzas being delivered to customer homes, and customer geo-tracking to have carryout pizzas ready just as they enter the store",
    "valid": false,
    "tag": "substr_invalid"
  },
  {
    "input": "Cost-cutting and additional higher-margin volumes should lead to greater free cash flow after 2021 (assuming $60 a barrel for oil) which should reduce its break-even level and support increased cash returns to shareholders.",
    "output": "[Cause] Cost-cutting and additional higher-margin volumes should lead to greater free cash flow after 2021 (assuming $60 a barrel for oil) [Relation] cause [Effect] reduce its break-even level and support increased cash returns to shareholders",
    "gold": "[Cause] Cost-cutting and additional higher-margin volumes should lead to greater free cash flow after 2021 (assuming $60 a barrel for oil) [Relation] prevent [Effect] should reduce its break-even level and support increased cash returns to shareholders.",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "This example illustrates the key problem with breaking into aircraft manufacturing: if a competitor goes through the arduous process of developing an aircraft, potential customers face massive switching costs and are thus quite conservative in their purchasing habits.",
    "output": "[Cause] a competitor goes through the arduous process of developing an aircraft [Relation] cause [Effect] potential customers face massive switching costs and are thus quite conservative in their purchasing habits",
    "gold": "[Cause] a competitor goes through the arduous process of developing an aircraft, potential customers face massive switching costs [Relation] cause [Effect] quite conservative in their purchasing habits",
    "valid": false,
    "tag": "substr_invalid"
  },
  {
    "input": "We forecast operating margins to improve slowly (back to 14% in 2025), helped by a steadily improving global economic environment and rising cost leverage as S&A and advertising costs are spread across more toys sold.",
    "output": "[Cause] a steadily improving global economic environment and rising cost leverage as S&A and advertising costs are spread across more toys sold [Relation] cause [Effect] operating margins to improve slowly",
    "gold": "[Cause] S&A and advertising costs are spread across more toys sold [Relation] cause [Effect] We forecast operating margins to improve slowly (back to 14% in 2025), helped by a steadily improving global economic environment and rising cost leverage",
    "valid": false,
    "tag": "substr_invalid"
  },
  {
    "input": "We are raising our fair value estimate for Xylem to $95 from $87 after the company announced strong first-quarter results and raised its guidance for full-year 2021.",
    "output": "[Cause] the company announced strong first-quarter results and raised its guidance for full-year 2021 [Relation] cause [Effect] We are raising our fair value estimate for Xylem to $95 from $87",
    "gold": "[Cause] after the company announced strong first-quarter results and raised its guidance for full-year 2021 [Relation] cause [Effect] We are raising our fair value estimate for Xylem to $95 from $87",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "Polaris had sacrificed some financial flexibility after financing its acquisitions of TAP and Boat Holdings, but debt-service metrics have been rapidly worked down via EBITDA expansion and cost-saving scale benefits (with debt/adjusted EBITDA trending down from 2019's 2 times in our forecast).",
    "output": "[Cause] financing its acquisitions of TAP and Boat Holdings [Relation] cause [Effect] Polaris had sacrificed some financial flexibility",
    "gold": "[Cause] after financing its acquisitions of TAP and Boat Holdings [Relation] cause [Effect] Polaris had sacrificed some financial flexibility",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "Polaris had sacrificed some financial flexibility after financing its acquisitions of TAP and Boat Holdings, but debt-service metrics have been rapidly worked down via EBITDA expansion and cost-saving scale benefits (with debt/adjusted EBITDA trending down from 2019's 2 times in our forecast).",
    "output": "[Cause] EBITDA expansion and cost-saving scale benefits [Relation] enable [Effect] debt-service metrics have been rapidly worked down",
    "gold": "[Cause] via EBITDA expansion and cost-saving scale benefits (with debt/adjusted EBITDA trending down from 2019's 2 times in our forecast) [Relation] enable [Effect] debt-service metrics have been rapidly worked down",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "Since Akamai is in 1,700 networks, which we believe is more than any competitor, it can offer the most compelling product to the widest range of customers.",
    "output": "[Cause] Akamai is in 1,700 networks [Relation] enable [Effect] offer the most compelling product to the widest range of customers",
    "gold": "[Cause] Akamai is in 1,700 networks [Relation] cause [Effect]  it can offer the most compelling product to the widest range of customers",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "We think the strength of the Ralph Lauren brand has allowed it to grow into one of the largest individual fashion companies.",
    "output": "[Cause] the strength of the Ralph Lauren brand [Relation] enable [Effect] it to grow into one of the largest individual fashion companies",
    "gold": "[Cause]  the strength of the Ralph Lauren brand [Relation] enable [Effect] grow into one of the largest individual fashion companies",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "The erosion of asset competitiveness during the last decade demonstrated by the impairments and reserve debookings helps explain the decline in upstream ROCEs from an average of 22% during 2010-14 to average of 6% during 2015-19.",
    "output": "[Cause] The erosion of asset competitiveness during the last decade demonstrated by the impairments and reserve debookings [Relation] cause [Effect] the decline in upstream ROCEs from an average of 22% during 2010-14 to average of 6% during 2015-19",
    "gold": "[Cause] the impairments and reserve debookings [Relation] enable [Effect] explain the decline in upstream ROCEs from an average of 22% during 2010-14 to average of 6% during 2015-19",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "As with all regulated utilities we cover, Ameren faces the risk of an inflationary environment that would raise borrowing costs and make other investments more attractive for income-seeking investors.",
    "output": "[Cause] Ameren faces the risk of an inflationary environment [Relation] cause [Effect] other investments more attractive for income-seeking investors",
    "gold": "[Cause] Ameren faces the risk of an inflationary environment [Relation] cause [Effect] make other investments more attractive for income-seeking investors",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "We believe small challenger banks--without the balance sheet and opportunity to leverage technology spend, will struggle to be as or more disruptive than ING.",
    "output": "[Cause] without the balance sheet and opportunity to leverage technology spend [Relation] cause [Effect] struggle to be as or more disruptive than ING",
    "gold": "[Cause]  small challenger banks--without the balance sheet and opportunity to leverage technology spend [Relation] prevent [Effect] to be as or more disruptive than ING",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "We expect the segment will continue gain leverage on its sales, helping EBITDA margin expand from 25% in 2019 to 28% in 2025.",
    "output": "[Cause] the segment will continue gain leverage on its sales [Relation] enable [Effect] helping EBITDA margin expand from 25% in 2019 to 28% in 2025",
    "gold": "[Cause] the segment will continue gain leverage on its sales [Relation] cause [Effect] EBITDA margin expand from 25% in 2019 to 28% in 2025",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "And with its production (particularly for consumer tissue) occurring in regions where water is a scarce resource, Kimberly may also be challenged by impediments to its production process over time.",
    "output": "[Cause] its production (particularly for consumer tissue) occurring in regions where water is a scarce resource [Relation] cause [Effect] Kimberly may also be challenged by impediments to its production process over time",
    "gold": "[Cause] And with its production (particularly for consumer tissue) occurring in regions where water is a scarce resource [Relation] prevent [Effect]  Kimberly may also be challenged by impediments to its production process over time",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "However, the economics for other renewable energy sources like wind and solar have vastly improved in recent years, presenting a headwind for geothermal development.",
    "output": "[Cause] the economics for other renewable energy sources like wind and solar have vastly improved in recent years [Relation] cause [Effect] a headwind for geothermal development",
    "gold": "[Cause] the economics for other renewable energy sources like wind and solar have vastly improved in recent years [Relation] prevent [Effect] geothermal development",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "Its efforts in medical devices, including robotics and digital data, should help maintain leadership in several medical device areas as well as support strong pricing power.",
    "output": "[Cause] Its efforts in medical devices, including robotics and digital data [Relation] enable [Effect] maintain leadership in several medical device areas as well as support strong pricing power",
    "gold": "[Cause] Its efforts in medical devices, including robotics and digital data [Relation] enable [Effect] help maintain leadership in several medical device areas as well as support strong pricing power",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "With the top line challenged and mix shifting, our 10-year forecast calls for an adjusted EBITDA margin pullback from fiscal 2020's 24% to around 22% in fiscal 2030.",
    "output": "[Cause] the top line challenged and mix shifting [Relation] cause [Effect] our 10-year forecast calls for an adjusted EBITDA margin pullback from fiscal 2020's 24% to around 22% in fiscal 2030",
    "gold": "[Cause] With the top line challenged and mix shifting [Relation] cause [Effect]  our 10-year forecast calls for an adjusted EBITDA margin pullback from fiscal 2020's 24% to around 22% in fiscal 2030",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "Yet management must maintain a delicate balance as to avoid diluting the core value proposition of providing sellers a means of guaranteed transactions of high-dollar-value items by a specific date.",
    "output": "[Cause] management must maintain a delicate balance [Relation] prevent [Effect] diluting the core value proposition of providing sellers a means of guaranteed transactions of high-dollar-value items by a specific date",
    "gold": "[Cause] management must maintain a delicate balance [Relation] enable [Effect] avoid diluting the core value proposition of providing sellers a means of guaranteed transactions of high-dollar-value items by a specific date",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "Despite this lower WACC, we believe that American Airlines has a higher chance of firm failure when compared with other legacy carriers as it carries much more debt relative to enterprise value than peers.",
    "output": "[Cause] it carries much more debt relative to enterprise value than peers [Relation] cause [Effect] American Airlines has a higher chance of firm failure when compared with other legacy carriers",
    "gold": "[Cause] it carries much more debt relative to enterprise value than peers [Relation] cause [Effect] American Airlines has a higher chance of firm failure",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "Rolls-Royce's absence from the fast growing narrow-body market could prompt management to embark unsuccessfully on an engine development program in an attempt to capture share.",
    "output": "[Cause] Rolls-Royce's absence from the fast growing narrow-body market [Relation] cause [Effect] management to embark unsuccessfully on an engine development program in an attempt to capture share",
    "gold": "[Cause] Rolls-Royce's absence from the fast growing narrow-body market [Relation] enable [Effect] management to embark unsuccessfully on an engine development program",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "While this investment has inarguably created significant long-term value to shareholders, there is risk from holding on to the investment given our view that Sartorius shares are highly overvalued.",
    "output": "[Cause] our view that Sartorius shares are highly overvalued [Relation] cause [Effect] there is risk from holding on to the investment",
    "gold": "[Cause] Sartorius shares are highly overvalued [Relation] prevent [Effect] there is risk from holding on to the investment",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "Further, while raw material costs had been favorable in recent years, we believe a sustained period with a more inflationary climate could hinder margin expansion or compress volume if Kimberly opts to raise prices and consumers balk at these higher costs.",
    "output": "[Cause] Kimberly opts to raise prices and consumers balk at these higher costs [Relation] cause [Effect] a sustained period with a more inflationary climate could hinder margin expansion or compress volume",
    "gold": "[Cause] if Kimberly opts to raise prices and consumers balk at these higher costs [Relation] cause [Effect] we believe a sustained period with a more inflationary climate could hinder margin expansion or compress volume",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "Government legislation limits individual ownership of an Australian bank to a maximum of 15% without the specific approval of the Federal Treasurer (equivalent to the Treasury Secretary in the US), thereby reducing the potential for a foreign takeover.",
    "output": "[Cause] Government legislation limits individual ownership of an Australian bank to a maximum of 15% without the specific approval of the Federal Treasurer (equivalent to the Treasury Secretary in the US) [Relation] cause [Effect] reducing the potential for a foreign takeover",
    "gold": "[Cause] Government legislation limits individual ownership of an Australian bank to a maximum of 15% [Relation] cause [Effect] reducing the potential for a foreign takeover",
    "valid": false,
    "tag": "substr_invalid"
  },
  {
    "input": "However, due to COVID-19 and the increasing uncertainty around the economy and the potential downside, we are currently assigning KeyCorp a high uncertainty rating.",
    "output": "[Cause] COVID-19 and the increasing uncertainty around the economy and the potential downside [Relation] cause [Effect] assigning KeyCorp a high uncertainty rating",
    "gold": "[Cause]  COVID-19 and the increasing uncertainty around the economy and the potential downside [Relation] cause [Effect] we are currently assigning KeyCorp a high uncertainty rating",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "The company's continued shift toward larger, higher-value jets necessitates substantial research and development, which compresses margins and adds to an invested capital base.",
    "output": "[Cause] substantial research and development [Relation] cause [Effect] compresses margins and adds to an invested capital base",
    "gold": "[Cause] The company's continued shift toward larger, higher-value jets necessitates substantial research and development [Relation] enable [Effect] compresses margins and adds to an invested capital base",
    "valid": false,
    "tag": "substr_invalid"
  },
  {
    "input": "These chemicals are highly tailored to specific refineries and most need to be constantly replaced, usually giving the company a steady cash flow stream.",
    "output": "[Cause] These chemicals are highly tailored to specific refineries and most need to be constantly replaced [Relation] enable [Effect] the company a steady cash flow stream",
    "gold": "[Cause] These chemicals are highly tailored to specific refineries and most need to be constantly replaced [Relation] enable [Effect]  usually giving the company a steady cash flow stream.",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "In the retail channel, Beyond provides customers with new products in the meat case, where innovation rarely occurs, driving higher retail velocities (units sold per month per store), as well as repeat purchases.",
    "output": "[Cause] innovation rarely occurs [Relation] cause [Effect] driving higher retail velocities (units sold per month per store), as well as repeat purchases",
    "gold": "[Cause] In the retail channel, Beyond provides customers with new products in the meat case, where innovation rarely occurs [Relation] enable [Effect]  driving higher retail velocities (units sold per month per store), as well as repeat purchases",
    "valid": false,
    "tag": "substr_invalid"
  },
  {
    "input": "We're expecting that the firm will spend about 4% of sales on internal R&D, which is higher than peers and should provide the firm with a high-margin growth runway.",
    "output": "[Cause] the firm will spend about 4% of sales on internal R&D [Relation] enable [Effect] provide the firm with a high-margin growth runway",
    "gold": "[Cause] the firm will spend about 4% of sales on internal R&D, which is higher than peers [Relation] cause [Effect]  a high-margin growth runway",
    "valid": false,
    "tag": "substr_invalid"
  },
  {
    "input": "We believe Wesco's technological capabilities, including its e-commerce sales channel, integrated customer purchasing and inventory management solutions, and warehouse automation, drive distribution efficiencies that would be difficult for smaller competitors to replicate.",
    "output": "[Cause] Wesco's technological capabilities, including its e-commerce sales channel, integrated customer purchasing and inventory management solutions, and warehouse automation [Relation] enable [Effect] distribution efficiencies",
    "gold": "[Cause] Wesco's technological capabilities, including its e-commerce sales channel, integrated customer purchasing and inventory management solutions, and warehouse automation [Relation] cause [Effect] drive distribution efficiencies",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "A constant concern in the RF industry is the threat of pricing pressure, as Qorvo and others rely on a handful of smartphone leaders for the bulk of their revenue.",
    "output": "[Cause] Qorvo and others rely on a handful of smartphone leaders for the bulk of their revenue [Relation] cause [Effect] A constant concern in the RF industry is the threat of pricing pressure",
    "gold": "[Cause] Qorvo and others rely on a handful of smartphone leaders for the bulk of their revenue [Relation] cause [Effect] A constant concern in the RF industry is the threat of pricing pressure, as Qorvo and others rely on a han",
    "valid": false,
    "tag": "substr_invalid"
  },
  {
    "input": "We view the merger with Banco Popular as positive for Santander, because it increases its deposit market share in Spain to 19% (from 13%), making Santander the bank with dominant market share in Spanish deposits.",
    "output": "[Cause] it increases its deposit market share in Spain to 19% (from 13%) [Relation] cause [Effect] We view the merger with Banco Popular as positive for Santander",
    "gold": "[Cause] it increases its deposit market share in Spain to 19% (from 13%), making Santander the bank with dominant market share in Spanish deposits [Relation] cause [Effect] We view the merger with Banco Popular as positive for Santander",
    "valid": false,
    "tag": "substr_invalid"
  },
  {
    "input": "We believe that the familiarity of the brand and knowledge of the employee base keep the business in the forefront of consumers' minds as the premier choice for home improvement needs.",
    "output": "[Cause] the familiarity of the brand and knowledge of the employee base [Relation] enable [Effect] the business in the forefront of consumers' minds as the premier choice for home improvement needs",
    "gold": "[Cause] the familiarity of the brand and knowledge of the employee [Relation] enable [Effect] keep the business in the forefront of consumers' minds as the premier choice for home improvement needs",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "Specifically, intra-process node advancements have driven a greater than 20% performance boost from the first iteration of 14-nm to 14-nm++.",
    "output": "[Cause] intra-process node advancements [Relation] enable [Effect] a greater than 20% performance boost from the first iteration of 14-nm to 14-nm++",
    "gold": "[Cause] intra-process node advancements [Relation] cause [Effect] driven a greater than 20% performance boost from the first iteration of 14-nm to 14-nm++",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "We deem it appropriate to use wine and spirit consumption as a quantitative proxy for premiumization, given that these categories have been taking share from beer and are emblematic of consumers trading up to higher price points.",
    "output": "[Cause] these categories have been taking share from beer and are emblematic of consumers trading up to higher price points [Relation] cause [Effect] We deem it appropriate to use wine and spirit consumption as a quantitative proxy for premiumization",
    "gold": "[Cause] that these categories have been taking share from beer and are emblematic of consumers trading up to higher price points [Relation] cause [Effect] it appropriate to use wine and spirit consumption as a quantitative proxy for premiumization",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "This decline in revenue is anticipated from the continued pressure in pharmaceutical distribution, and headwinds from the rationalization of medical device operations.",
    "output": "[Cause] the continued pressure in pharmaceutical distribution, and headwinds from the rationalization of medical device operations [Relation] cause [Effect] This decline in revenue",
    "gold": "[Cause] the continued pressure in pharmaceutical distribution, and headwinds from the rationalization of medical device operations [Relation] prevent [Effect] revenue",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "Vodafone operates in a variety of markets, many of which face different regulatory issues and, it earns revenue in various currencies, which increases the volatility of its results.",
    "output": "[Cause] it earns revenue in various currencies [Relation] cause [Effect] increases the volatility of its results",
    "gold": "[Cause] earns revenue in various currencies [Relation] cause [Effect] increases the volatility of its results",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "Specifically, the complaint stated that by threatening to disrupt smartphone manufacturers' supply of baseband processors, Qualcomm receives excess royalties for its standard-essential patents that enable cellular connectivity.",
    "output": "[Cause] threatening to disrupt smartphone manufacturers' supply of baseband processors [Relation] cause [Effect] Qualcomm receives excess royalties for its standard-essential patents that enable cellular connectivity",
    "gold": "[Cause] by threatening to disrupt smartphone manufacturers' supply of baseband processors, [Relation] prevent [Effect] Qualcomm receives excess royalties for its standard-essential patents that enable cellular connectivity.",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "IAC has invested in areas within this segment that have resulted in basically a feedback loop: attracting more service professionals who have helped bring in more consumers who in turn have attracted more service professionals, and so on, thereby strengthening ANGI Homeservices' network effect.",
    "output": "[Cause] IAC has invested in areas within this segment that have resulted in basically a feedback loop [Relation] enable [Effect] attracting more service professionals who have helped bring in more consumers who in turn have attracted more service professionals, and so on, thereby strengthening ANGI Homeservices' network effect",
    "gold": "[Cause] IAC has invested in areas within this segment that have resulted in basically a feedback loop [Relation] cause [Effect] strengthening ANGI Homeservices' network effect",
    "valid": false,
    "tag": "substr_invalid"
  },
  {
    "input": "Since the first quarter of 2016, the number of average monthly unique users has grown from around 124 million to nearly 200 million in 2019. This makes Zillow the most visited real estate platform by a wide margin, with the company possessing the most visited real estate website in Zillow.com as well as the third most visited website in Trulia.com.",
    "output": "[Cause] the first quarter of 2016, the number of average monthly unique users has grown from around 124 million to nearly 200 million in 2019 [Relation] enable [Effect] Zillow the most visited real estate platform by a wide margin, with the company possessing the most visited real estate website in Zillow.com as well as the third most visited website in Trulia.com",
    "gold": "[Cause] Since the first quarter of 2016, the number of average monthly unique users has grown from around 124 million to nearly 200 million in 2019 [Relation] cause [Effect] makes Zillow the most visited real estate platform by a wide margin, with the company possessing the most visited real estate website in Zillow.com as well as the third most visited website in Trulia.com",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "We apply an 8.0% weighted average cost of capital to discount our cash flow projections, which reflects a high degree of debt in the capital structure and thus a substantial interest tax shield.",
    "output": "[Cause] a high degree of debt in the capital structure [Relation] cause [Effect] a substantial interest tax shield",
    "gold": "[Cause] We apply an 8.0% weighted average cost of capital to discount our cash flow projections, which reflects a high degree of debt in the capital structure [Relation] cause [Effect] a substantial interest tax shield",
    "valid": false,
    "tag": "substr_invalid"
  },
  {
    "input": "Potential customers will continue to try minimizing any form of risks on avoiding downtime by putting preference over products with a proven track record of being able to program/shape complex products with absolute precision, especially when such high switching costs are at stake.",
    "output": "[Cause] putting preference over products with a proven track record of being able to program/shape complex products with absolute precision [Relation] enable [Effect] Potential customers will continue to try minimizing any form of risks on avoiding downtime",
    "gold": "[Cause] putting preference over products with a proven track record of being able to program/shape complex products with absolute precision [Relation] enable [Effect] minimizing any form of risks on avoiding downtime",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "But reported volumes could fluctuate as Apache's revenue and profits in Egypt are governed by production-sharing contracts (due to cost recovery provisions in these contracts, lower crude prices translate to higher volumes, creating a natural hedge, helping the company to cope with this very weak commodity environment).",
    "output": "[Cause] Apache's revenue and profits in Egypt are governed by production-sharing contracts [Relation] cause [Effect] reported volumes could fluctuate",
    "gold": "[Cause]  Apache's revenue and profits in Egypt are governed by production-sharing contracts (due to cost recovery provisions in these contracts, lower crude prices translate to higher volumes, creating a natural hedge, helping the company to cope with this very weak commodity environment [Relation] cause [Effect]  reported volumes could fluctuate",
    "valid": false,
    "tag": "substr_invalid"
  },
  {
    "input": "During periods of tightening supply when air and ocean carriers tend to boost rates, Expeditors normally sees gross profit margin compression (and thus lower net revenue growth), driven in part by the time lag associated with renegotiating higher capacity rates to shippers.",
    "output": "[Cause] the time lag associated with renegotiating higher capacity rates to shippers [Relation] cause [Effect] During periods of tightening supply when air and ocean carriers tend to boost rates, Expeditors normally sees gross profit margin compression (and thus lower net revenue growth)",
    "gold": "[Cause] the time lag associated with renegotiating higher capacity rates to shippers [Relation] cause [Effect] gross profit margin compression (and thus lower net revenue growth)",
    "valid": false,
    "tag": "substr_invalid"
  },
  {
    "input": "Additionally, we expect that management will continue to invest in M&A, and our model incorporates meaningful acquisitions helping the company reach a roughly 13% total growth rate through from 2020 through 2025.",
    "output": "[Cause] our model incorporates meaningful acquisitions [Relation] enable [Effect] the company reach a roughly 13% total growth rate through from 2020 through 2025",
    "gold": "[Cause] our model incorporates meaningful acquisitions [Relation] enable [Effect] helping the company reach a roughly 13% total growth rate through from 2020 through 2025",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "The firm has not achieved its ambition of becoming the largest operator in Malaysia, a market experiencing intense competition due to the entrance of U Mobile.",
    "output": "[Cause] the entrance of U Mobile [Relation] cause [Effect] a market experiencing intense competition",
    "gold": "[Cause] due to the entrance of U Mobile. [Relation] enable [Effect] The firm has not achieved its ambition of becoming the largest operator in Malaysia, a market experiencing intense competition",
    "valid": false,
    "tag": "substr_invalid"
  },
  {
    "input": "Acquisitions in recent years have increased Millicom's debt load substantially, adding the volatility that comes with financial leverage to the operational risks facing the firm.",
    "output": "[Cause] Acquisitions in recent years have increased Millicom's debt load substantially [Relation] cause [Effect] adding the volatility that comes with financial leverage to the operational risks facing the firm",
    "gold": "[Cause] Acquisitions in recent years [Relation] cause [Effect]  increased Millicom's debt load substantially, adding the volatility that comes with financial leverage to the operational risks facing the firm",
    "valid": false,
    "tag": "substr_invalid"
  },
  {
    "input": "Given the maturity of the domestic home improvement industry, we expect demand to largely depend on changes in the real estate market, driven by prices, interest rates, turnover, and lending standards once COVID-19 subsides.",
    "output": "[Cause] the maturity of the domestic home improvement industry [Relation] cause [Effect] demand to largely depend on changes in the real estate market, driven by prices, interest rates, turnover, and lending standards once COVID-19 subsides",
    "gold": "[Cause] the maturity of the domestic home improvement industry [Relation] cause [Effect] we expect demand to largely depend on changes in the real estate market, driven by prices, interest rates, turnover, and lending standards once COVID-19 subsides",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "Dish is now building a wireless network it believes will be technologically superior to the existing carriers' as it establishes a presence in the market around the acquired Sprint prepaid business and attempts to create new wireless business models.",
    "output": "[Cause] it establishes a presence in the market around the acquired Sprint prepaid business and attempts to create new wireless business models [Relation] cause [Effect] Dish is now building a wireless network it believes will be technologically superior to the existing carriers'",
    "gold": "[Cause]  it establishes a presence in the market around the acquired Sprint prepaid business and attempts to create new wireless business models [Relation] cause [Effect]  it believes will be technologically superior to the existing carriers'",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "If practitioners do not embrace Zimmer Biomet's robot and its array of features (which are different from those of Stryker's Mako robot), this will hinder the firm's ability to catch up with Stryker's installed base of robots and product pull-through of higher-margin cementless knees.",
    "output": "[Cause] practitioners do not embrace Zimmer Biomet's robot and its array of features (which are different from those of Stryker's Mako robot) [Relation] prevent [Effect] the firm's ability to catch up with Stryker's installed base of robots and product pull-through of higher-margin cementless knees",
    "gold": "[Cause] practitioners do not embrace Zimmer Biomet's robot and its array of features [Relation] cause [Effect] this will hinder the firm's ability to catch up with Stryker's installed base of robots and product pull-through of higher-margin cementless knees",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "Margins were hit in 2019 as Pepsi booked charges for severance and system implementation associated with its productivity initiatives, in addition to incremental strategic investments.",
    "output": "[Cause] Pepsi booked charges for severance and system implementation associated with its productivity initiatives, in addition to incremental strategic investments [Relation] cause [Effect] Margins were hit in 2019",
    "gold": "[Cause]  booked charges for severance and system implementation associated with its productivity initiatives, in addition to incremental strategic investments [Relation] cause [Effect] Margins were hit in 2019 as Pepsi",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "The company's reputation, developed over the decades, for pricing transactions in a way that benefits both sellers and buyers puts it in a strong position when management teams are contemplating an investment banking deal.",
    "output": "[Cause] The company's reputation, developed over the decades, for pricing transactions in a way that benefits both sellers and buyers [Relation] enable [Effect] it in a strong position when management teams are contemplating an investment banking deal",
    "gold": "[Cause] The company's reputation, developed over the decades [Relation] enable [Effect] buyers puts it in a strong position when management teams are contemplating an investment banking deal",
    "valid": false,
    "tag": "substr_invalid"
  },
  {
    "input": "We think outgrowth over underlying production will inch higher at the end of our explicit forecast as electrification accelerates and Sensata's fleet management and telematics solutions begin to accrete meaningful revenue.",
    "output": "[Cause] electrification accelerates and Sensata's fleet management and telematics solutions begin to accrete meaningful revenue [Relation] cause [Effect] outgrowth over underlying production will inch higher at the end of our explicit forecast",
    "gold": "[Cause] electrification accelerates and Sensata's fleet management and telematics solutions begin to accrete meaningful revenue [Relation] enable [Effect] outgrowth over underlying production will inch higher",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "We expect adjusted operating margins to remain around 30% 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 (which should accelerate as eBay's operating agreement with PayPal has expired) and operating leverage offset other experience investments [Relation] cause [Effect] adjusted operating margins to remain around 30% 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 30% over the next five years",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "With scale the only way to plausibly develop a cost advantage in this space, that Monster (and many of its pure-play peers, for that matter) does not own most aspects of its production or distribution implies that its ability to reduce per-unit fixed costs through greater volumes is negligible.",
    "output": "[Cause] scale the only way to plausibly develop a cost advantage in this space, that Monster (and many of its pure-play peers, for that matter) does not own most aspects of its production or distribution [Relation] cause [Effect] its ability to reduce per-unit fixed costs through greater volumes is negligible",
    "gold": "[Cause] scale the only way to plausibly develop a cost advantage in this space [Relation] enable [Effect] its ability to reduce per-unit fixed costs through greater volumes is negligible",
    "valid": false,
    "tag": "substr_invalid"
  },
  {
    "input": "Additionally, Landstar's broad relationships with truckers as well as air, ocean, and rail carriers support multimodal capabilities that optimize shippers' use of truckload, less-than-truckload, and rail intermodal on the domestic front and air and ocean freight for overseas shipping.",
    "output": "[Cause] Landstar's broad relationships with truckers as well as air, ocean, and rail carriers support multimodal capabilities [Relation] enable [Effect] optimize shippers' use of truckload, less-than-truckload, and rail intermodal on the domestic front and air and ocean freight for overseas shipping",
    "gold": "[Cause]  Landstar's broad relationships with truckers as well as air, ocean, and rail carriers [Relation] enable [Effect]  multimodal capabilities that optimize shippers' use of truckload, less-than-truckload, and rail intermodal on the domestic front and air and ocean freight for overseas shipping",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "Still, Walmart and Amazon define the space, driving prices down as they deploy unparalleled scale in ways we believe Target cannot match.",
    "output": "[Cause] they deploy unparalleled scale in ways we believe Target cannot match [Relation] cause [Effect] Walmart and Amazon define the space, driving prices down",
    "gold": "[Cause]  they deploy unparalleled scale in ways we believe Target cannot match [Relation] cause [Effect] driving prices down",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "Even if we're right, we expect wireless technologies will continue to advance in the coming years, potentially disrupting Comcast's business at some point.",
    "output": "[Cause] wireless technologies will continue to advance in the coming years [Relation] cause [Effect] potentially disrupting Comcast's business at some point",
    "gold": "[Cause] wireless technologies [Relation] prevent [Effect] Comcast's business",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "The W-2 and ACA forms are required to be produced in the first quarter of the calendar year, which leads to some seasonality in the business' revenue.",
    "output": "[Cause] The W-2 and ACA forms are required to be produced in the first quarter of the calendar year [Relation] cause [Effect] seasonality in the business' revenue",
    "gold": "[Cause] The W-2 and ACA forms are required to be produced in the first quarter of the calendar year [Relation] cause [Effect] some seasonality in the business' revenue",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "Many of these providers aren't fully integrated with landfill assets and may not enjoy the same level of profitability as Waste Management's network, but many are competent providers and a large number of players keeps the pricing backdrop competitive, especially during periods of sluggish macroeconomic growth.",
    "output": "[Cause] Many of these providers aren't fully integrated with landfill assets [Relation] cause [Effect] may not enjoy the same level of profitability as Waste Management's network",
    "gold": "[Cause] providers aren't fully integrated with landfill assets [Relation] prevent [Effect] enjoy the same level of profitability as Waste Management's network",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "Many of these providers aren't fully integrated with landfill assets and may not enjoy the same level of profitability as Waste Management's network, but many are competent providers and a large number of players keeps the pricing backdrop competitive, especially during periods of sluggish macroeconomic growth.",
    "output": "[Cause] many are competent providers and a large number of players [Relation] enable [Effect] the pricing backdrop competitive",
    "gold": "[Cause] many are competent providers [Relation] cause [Effect] a large number of players keeps the pricing backdrop competitive",
    "valid": false,
    "tag": "substr_invalid"
  },
  {
    "input": "It is arguable, though, that S&P would benefit from such a move as its credit ratings business would require fewer analysts but still receive the seal of approval attached to its ratings.",
    "output": "[Cause] its credit ratings business would require fewer analysts but still receive the seal of approval attached to its ratings [Relation] cause [Effect] S&P would benefit from such a move",
    "gold": "[Cause]  its credit ratings business would require fewer analysts [Relation] cause [Effect] S&P would benefit from such a move",
    "valid": false,
    "tag": "substr_invalid"
  },
  {
    "input": "There is some risk that it will overpay, become distracted by a challenging deal, or overburden its balance sheet with debt. Thus far the company has generally been successful in its M&A efforts to enter new areas, expand its addressable market, and eliminate competitors.",
    "output": "[Cause] There is some risk that it will overpay, become distracted by a challenging deal, or overburden its balance sheet with debt [Relation] cause [Effect] the company has generally been successful in its M&A efforts to enter new areas, expand its addressable market, and eliminate competitors",
    "gold": "[Cause] There is some risk that it will overpay, become distracted by a challenging deal, or overburden its balance sheet with debt [Relation] cause [Effect] far the company has generally been successful in its M&A efforts to enter new areas, expand its addressable market, and eliminate competitors",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "The need for infrastructure investment is due in large part to above-average electricity demand growth in Houston and systemwide infrastructure investment to replace substandard pipe, notably at the gas distribution utilities that include operations in Minneapolis and Houston.",
    "output": "[Cause] above-average electricity demand growth in Houston and systemwide infrastructure investment to replace substandard pipe [Relation] cause [Effect] The need for infrastructure investment",
    "gold": "[Cause]  above-average electricity demand growth in Houston and systemwide infrastructure investment to replace substandard pipe, notably at the gas distribution utilities that include operations in Minneapolis and Houston [Relation] cause [Effect] The need for infrastructure investment",
    "valid": false,
    "tag": "substr_invalid"
  },
  {
    "input": "Government spending on farm subsidies and biofuel mandates affect farm income, while investment in infrastructure development can affect the demand for construction equipment.",
    "output": "[Cause] Government spending on farm subsidies and biofuel mandates [Relation] cause [Effect] farm income",
    "gold": "[Cause] Government spending on farm subsidies and biofuel mandates [Relation] cause [Effect] affect farm income",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "A downturn in this industry would significantly affect the economies of these markets, leaving Invitation Homes' portfolio exposed to falling demand for its assets.",
    "output": "[Cause] A downturn in this industry [Relation] cause [Effect] affect the economies of these markets, leaving Invitation Homes' portfolio exposed to falling demand for its assets",
    "gold": "[Cause] A downturn in this industry [Relation] cause [Effect] affect the economies of these markets, leaving Invitation Homes' portfolio exposed to falling demand for its assets.",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "These logistics create inelasticity of demand, which in turn creates pricing power for the dealer and is a source of excellent profit in good times and bad.",
    "output": "[Cause] These logistics create inelasticity of demand [Relation] cause [Effect] creates pricing power for the dealer and is a source of excellent profit in good times and bad",
    "gold": "[Cause] These logistics create inelasticity of demand [Relation] enable [Effect]  in turn creates pricing power for the dealer and is a source of excellent profit in good times and bad",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "As one of the largest firms in the world, Apple is susceptible to competitive threats from capable behemoths with significant resources.",
    "output": "[Cause] As one of the largest firms in the world [Relation] cause [Effect] Apple is susceptible to competitive threats from capable behemoths with significant resources",
    "gold": "[Cause] one of the largest firms in the world [Relation] cause [Effect] Apple is susceptible to competitive threats from capable behemoths with significant resources",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "Although just entering testing, competition from CRISPR-based gene-editing companies (like Intellia and its potentially curative NTLA-2001 in amyloidosis, entering clinical trials by the end of 2020) could be a threat to RNA-based treatments more broadly.",
    "output": "[Cause] competition from CRISPR-based gene-editing companies [Relation] cause [Effect] a threat to RNA-based treatments more broadly",
    "gold": "[Cause] competition from CRISPR-based gene-editing companies (like Intellia and its potentially curative NTLA-2001 in amyloidosis [Relation] cause [Effect] a threat to RNA-based treatments more broadly",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "The rate structures and general political climate in Sempra's California regulatory jurisdiction have consistently provided the utilities the opportunity to earn returns above their costs of capital.",
    "output": "[Cause] The rate structures and general political climate in Sempra's California regulatory jurisdiction [Relation] enable [Effect] consistently provided the utilities the opportunity to earn returns above their costs of capital",
    "gold": "[Cause] The rate structures and general political climate in Sempra's California regulatory jurisdiction [Relation] enable [Effect] provided the utilities the opportunity to earn returns above their costs of capital",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "Ongoing diversification of Agco's product lines through acquisitions is crucial to its overall strategy of improving margins and reducing revenue cyclicality.",
    "output": "[Cause] Ongoing diversification of Agco's product lines through acquisitions [Relation] enable [Effect] its overall strategy of improving margins and reducing revenue cyclicality",
    "gold": "[Cause] Ongoing diversification of Agco's product lines through acquisitions [Relation] enable [Effect] improving margins and reducing revenue cyclicality",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "Cash flow coverage dropped quarter after quarter, with facility-level EBITDAR coverage dropping below 1.0 times in 2012 and sinking lower each quarter thereafter, which weighed heavily on the stock.",
    "output": "[Cause] Cash flow coverage dropped quarter after quarter, with facility-level EBITDAR coverage dropping below 1.0 times in 2012 and sinking lower each quarter thereafter [Relation] cause [Effect] weighed heavily on the stock",
    "gold": "[Cause]  sinking lower each quarter thereafter [Relation] cause [Effect] weighed heavily on the stock",
    "valid": false,
    "tag": "substr_invalid"
  },
  {
    "input": "CP has posted excellent margin improvement in recent years, especially in 2020, as it rightsized head count and assets to demand levels.",
    "output": "[Cause] it rightsized head count and assets to demand levels [Relation] cause [Effect] CP has posted excellent margin improvement in recent years, especially in 2020",
    "gold": "[Cause] it rightsized head count and assets to demand levels [Relation] cause [Effect] CP has posted excellent margin improvement in recent years",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "Recent work-from-home trends as a result of the COVID-19 pandemic could also lead to a decrease in motor fuel consumption and ethanol blended into gasoline.",
    "output": "[Cause] the COVID-19 pandemic [Relation] cause [Effect] Recent work-from-home trends",
    "gold": "[Cause] COVID-19 pandemic [Relation] cause [Effect] Recent work-from-home trends",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "We expect the company to perform near its 14% five-year historical average return over the next 10 years as it leverages its infrastructure, inventory, and part availability investments to benefit from favorable industry dynamics in both key segments.",
    "output": "[Cause] it leverages its infrastructure, inventory, and part availability investments to benefit from favorable industry dynamics in both key segments [Relation] cause [Effect] the company to perform near its 14% five-year historical average return over the next 10 years",
    "gold": "[Cause] it leverages its infrastructure, inventory, and part availability investments to benefit from favorable industry dynamics in both key segments [Relation] cause [Effect] We expect the company to perform near its 14% five-year historical average return over the next 10 years",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "The capital and money market account for the balance of funding; they are a more expensive source of funding, as they price in the risk of default--represented by a banks CDS spread.",
    "output": "[Cause] they price in the risk of default--represented by a banks CDS spread [Relation] cause [Effect] They are a more expensive source of funding",
    "gold": "[Cause] they price in the risk of default--represented by a banks CDS spread [Relation] cause [Effect] The capital and money market account for the balance of funding; they are a more expensive source of funding",
    "valid": false,
    "tag": "substr_invalid"
  },
  {
    "input": "Finally, the customer tends to order these products in larger blocks, so the contractor must have substantial scale to satisfy customer needs.",
    "output": "[Cause] the customer tends to order these products in larger blocks [Relation] cause [Effect] the contractor must have substantial scale to satisfy customer needs",
    "gold": "[Cause]  the customer tends to order these products in larger blocks [Relation] cause [Effect] he contractor must have substantial scale to satisfy customer needs",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "We believe that the opportunity ahead provides RingCentral with a long runway for growth during which it can achieve significant operating leverage.",
    "output": "[Cause] the opportunity ahead provides RingCentral with a long runway for growth [Relation] enable [Effect] achieve significant operating leverage",
    "gold": "[Cause] the opportunity ahead provides RingCentral with a long runway for growth [Relation] cause [Effect]  it can achieve significant operating leverage",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "In addition, possible changes in social norms and acceptance could increase ESG risk, which may significantly increase negative client reactions, affecting IPG's revenue and overall business.",
    "output": "[Cause] possible changes in social norms and acceptance could increase ESG risk [Relation] cause [Effect] increase negative client reactions, affecting IPG's revenue and overall business",
    "gold": "[Cause] possible changes in social norms and acceptance could increase ESG risk [Relation] cause [Effect] significantly increase negative client reactions, affecting IPG's revenue and overall business",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "Using the same packaging component reduces the regulatory burden for generic drug applications, and customers often choose to stay with a vendor that had success with the brand-name drug.",
    "output": "[Cause] Using the same packaging component [Relation] enable [Effect] reduces the regulatory burden for generic drug applications",
    "gold": "[Cause] Using the same packaging component [Relation] prevent [Effect] regulatory burden for generic drug applications",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "The low prices of 2020 ($42/bbl Brent) resulted in Exxon's proved reserves falling to 15.2 billion boe from 22.4 billion boe at year-end 2019, demonstrating the marginal amount of reserves Exxon has acquired, discovered, and developed recently.",
    "output": "[Cause] The low prices of 2020 ($42/bbl Brent) [Relation] cause [Effect] Exxon's proved reserves falling to 15.2 billion boe from 22.4 billion boe at year-end 2019",
    "gold": "[Cause] The low prices of 2020 ($42/bbl Brent) [Relation] cause [Effect] Exxon's proved reserves falling to 15.2 billion boe from 22.4 billion boe at year-end 2019, demonstrating the marginal amount of reserves Exxon has acquired, discovered, and developed recently",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "We project that the firm will able to continue to expand its gross margins to 77.7% 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 able to continue to expand its gross margins to 77.7% by fiscal 2025",
    "gold": "[Cause] the percentage of revenue from microtransactions and digital downloads continues to increase [Relation] cause [Effect] expand its gross margins",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "Notable investments in distribution and logistics have been made by the likes of Amazon and FedEx, so tenants taking distribution efforts in-house could result in higher vacancies industrywide.",
    "output": "[Cause] Notable investments in distribution and logistics have been made by the likes of Amazon and FedEx [Relation] cause [Effect] tenants taking distribution efforts in-house could result in higher vacancies industrywide",
    "gold": "[Cause] Notable investments in distribution and logistics have been made [Relation] cause [Effect] higher vacancies industrywide",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "Additionally, we think trials of Adcetris in combination with checkpoint inhibitors, such as Bristol's Opdivo, offer further runway for growth.",
    "output": "[Cause] trials of Adcetris in combination with checkpoint inhibitors [Relation] enable [Effect] further runway for growth",
    "gold": "[Cause]  trials of Adcetris in combination with checkpoint inhibitors, such as Bristol's Opdivo [Relation] enable [Effect]  offer further runway for growth",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "The company's highly valuable intangible assets in the form of proprietary formulations provide significant pricing power while switching costs help ensure the durability of economic profit generation.",
    "output": "[Cause] switching costs [Relation] enable [Effect] ensure the durability of economic profit generation",
    "gold": "[Cause]  switching costs [Relation] enable [Effect]  the durability of economic profit generation",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "IATA agreed to not file a \"\"\"\"formal complaint before any court or antitrust agency\"\"\"\" in return for the agreement, which solidifies a generally favorable market structure for the equipment manufacturers.",
    "output": "[Cause] IATA agreed to not file a \"\"\"\"formal complaint before any court or antitrust agency\"\"\"\" in return for the agreement [Relation] enable [Effect] solidifies a generally favorable market structure for the equipment manufacturers",
    "gold": "[Cause] in return for the agreement [Relation] enable [Effect] solidifies a generally favorable market structure for the equipment manufacturers",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "In areas where Fios isn't available, cable has crushed Verizon, leaving it with a subscale operation that likely earns very poor margins.",
    "output": "[Cause] cable has crushed Verizon [Relation] cause [Effect] a subscale operation that likely earns very poor margins",
    "gold": "[Cause] cable has crushed Verizon, leaving it with a subscale operation [Relation] cause [Effect] earns very poor margins",
    "valid": false,
    "tag": "substr_invalid"
  },
  {
    "input": "Just as importantly, LabCorp has single-mindedly pursued greater efficiency, which translates to an ability to reduce costs more quickly than reimbursement cuts coming down the pike.",
    "output": "[Cause] LabCorp has single-mindedly pursued greater efficiency [Relation] enable [Effect] reduce costs more quickly than reimbursement cuts coming down the pike",
    "gold": "[Cause] Just as importantly, LabCorp has single-mindedly pursued greater efficiency [Relation] cause [Effect]  translates to an ability to reduce costs more quickly than reimbursement cuts coming down the pike",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "Gross margin performance should be slightly constrained, however, by less scaled production on new products (like Corona Seltzer) as lines ramp.",
    "output": "[Cause] less scaled production on new products (like Corona Seltzer) as lines ramp [Relation] cause [Effect] Gross margin performance should be slightly constrained",
    "gold": "[Cause] less scaled production on new products (like Corona Seltzer) as lines ramp [Relation] prevent [Effect] Gross margin performance",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "Following fourth-quarter results and upon rolling our model forward one year, we are raising our DCF-derived fair value estimate for UPS to $131, from $123, due mostly to raising our medium-term revenue forecasts on stronger-than-anticipated volume trends and a solid yield positioning, along with the time value of money.",
    "output": "[Cause] raising our medium-term revenue forecasts on stronger-than-anticipated volume trends and a solid yield positioning, along with the time value of money [Relation] cause [Effect] we are raising our DCF-derived fair value estimate for UPS to $131, from $123",
    "gold": "[Cause]  raising our medium-term revenue forecasts on stronger-than-anticipated volume trends and a solid yield positioning, along with the time value of money [Relation] enable [Effect]  raising our DCF-derived fair value estimate for UPS to $131, from $123",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "Competing trucking capacity loosened in 2019 after an unprecedented tightening in 2018 that was rooted in widespread electronic logging device adoption among truckers.",
    "output": "[Cause] widespread electronic logging device adoption among truckers [Relation] cause [Effect] Competing trucking capacity loosened in 2019 after an unprecedented tightening in 2018",
    "gold": "[Cause]  rooted in widespread electronic logging device adoption among truckers [Relation] cause [Effect] Competing trucking capacity loosened in 2019",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "We believe this has created a relatively stable cycle as customers often locked into long-term contracts and opted to upgrade through multiple iterations of Motorola radios over the useful life of the infrastructure.",
    "output": "[Cause] customers often locked into long-term contracts and opted to upgrade through multiple iterations of Motorola radios over the useful life of the infrastructure [Relation] cause [Effect] We believe this has created a relatively stable cycle",
    "gold": "[Cause] customers often locked into long-term contracts and opted to upgrade through multiple iterations of Motorola radios over the useful life of the infrastructure [Relation] cause [Effect] this has created a relatively stable cycle",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "That said, there are plans for two large resorts to open in mid-2021 (Genting World Resort opens with 3,000 rooms) and late 2022 (the Witkoff Drew opens with around 4,000 rooms) that combined will increase existing supply by a mid-single-digit percentage.",
    "output": "[Cause] two large resorts to open in mid-2021 (Genting World Resort opens with 3,000 rooms) and late 2022 (the Witkoff Drew opens with around 4,000 rooms) [Relation] enable [Effect] increase existing supply by a mid-single-digit percentage",
    "gold": "[Cause] two large resorts to open in mid-2021 (Genting World Resort opens with 3,000 rooms) and late 2022 (the Witkoff Drew opens with around 4,000 rooms) that combined [Relation] enable [Effect] increase existing supply by a mid-single-digit percentage",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "The firm's dominant position allows it to continue to reinvest in the business, in technology development for both the platform and additional services.",
    "output": "[Cause] The firm's dominant position [Relation] enable [Effect] it to continue to reinvest in the business, in technology development for both the platform and additional services",
    "gold": "[Cause] The firm's dominant position [Relation] enable [Effect] continue to reinvest in the business, in technology development for both the platform and additional services",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "With a substantial portion of those ASCs outside Tenet's legacy hospital network, there may be limited opportunities for Tenet to leverage some of its USPI facilities into a stronger negotiating position for its legacy hospital operations.",
    "output": "[Cause] a substantial portion of those ASCs outside Tenet's legacy hospital network [Relation] cause [Effect] there may be limited opportunities for Tenet to leverage some of its USPI facilities into a stronger negotiating position for its legacy hospital operations",
    "gold": "[Cause] a substantial portion of those ASCs outside Tenet's legacy hospital network [Relation] prevent [Effect] Tenet to leverage some of its USPI facilities into a stronger negotiating position for its legacy hospital operations",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "Our uncertainty rating is very high, given the potential impact of the coronavirus on the business and on capital markets.",
    "output": "[Cause] the potential impact of the coronavirus on the business and on capital markets [Relation] cause [Effect] Our uncertainty rating is very high",
    "gold": "[Cause] given the potential impact of the coronavirus on the business and on capital markets [Relation] cause [Effect] Our uncertainty rating is very high",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "With its already strong bargaining clout with national retailers like Amazon, Costco, Kroger, Whole Foods, and Trader Joe's, we expect Starbucks to develop national distribution of its entire consumer product portfolio over the next few years.",
    "output": "[Cause] its already strong bargaining clout with national retailers like Amazon, Costco, Kroger, Whole Foods, and Trader Joe's [Relation] cause [Effect] Starbucks to develop national distribution of its entire consumer product portfolio over the next few years",
    "gold": "[Cause] With its already strong bargaining clout with national retailers like Amazon, Costco, Kroger, Whole Foods, and Trader Joe's [Relation] cause [Effect]  we expect Starbucks to develop national distribution of its entire consumer product portfolio over the next few years",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "Our uncertainty rating is very high and driven by a combination of execution risk, operating leverage and potential fines as a result of investigations into Deutsche's operation.",
    "output": "[Cause] a combination of execution risk, operating leverage and potential fines as a result of investigations into Deutsche's operation [Relation] cause [Effect] Our uncertainty rating is very high",
    "gold": "[Cause] investigations into Deutsche's operation [Relation] cause [Effect] Our uncertainty rating is very high and driven by a combination of execution risk, operating leverage and potential fines",
    "valid": false,
    "tag": "substr_invalid"
  },
  {
    "input": "Looking at the total CAD, PLM, simulation and drug R&D markets, we estimate that Dassault Systemes will lose some of its share as the total addressable market continues to expand with recent acquisitions in new territories and new entrants, like PTC's midmarket CAD software, Onshape, gaining share.",
    "output": "[Cause] the total addressable market continues to expand with recent acquisitions in new territories and new entrants, like PTC's midmarket CAD software, Onshape, gaining share [Relation] cause [Effect] Dassault Systemes will lose some of its share",
    "gold": "[Cause]  the total addressable market continues to expand with recent acquisitions in new territories and new entrants [Relation] cause [Effect] Dassault Systemes will lose some of its share",
    "valid": false,
    "tag": "substr_invalid"
  },
  {
    "input": "Coach uses a lot of high-quality leather that is available from a limited number of suppliers, suggesting that it does not have any scale advantage in sourcing.",
    "output": "[Cause] Coach uses a lot of high-quality leather that is available from a limited number of suppliers [Relation] cause [Effect] it does not have any scale advantage in sourcing",
    "gold": "[Cause] Coach uses a lot of high-quality leather [Relation] cause [Effect]  it does not have any scale advantage in sourcing",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "Still, we believe that demand will be able to match these supply additions, as historically room expansion and visitation in the region have been correlated, as travelers are enticed to see new attractions, and the football stadium opens in 2020.",
    "output": "[Cause] historically room expansion and visitation in the region have been correlated, as travelers are enticed to see new attractions, and the football stadium opens in 2020 [Relation] cause [Effect] demand will be able to match these supply additions",
    "gold": "[Cause] historically room expansion and visitation in the region have been correlated | travelers are enticed to see new attractions | he football stadium opens in 2020 [Relation] cause [Effect] demand will be able to match these supply additions",
    "valid": false,
    "tag": "substr_invalid"
  },
  {
    "input": "We do not think Macy's can gain market share as online and offline competition will intensify despite some store closures by rivals.",
    "output": "[Cause] online and offline competition will intensify [Relation] cause [Effect] We do not think Macy's can gain market share",
    "gold": "[Cause] online and offline competition will intensify [Relation] prevent [Effect] Macy's can gain market share",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "Amid weaker Chinese steel demand, we expect China's met coal import needs to decline, particularly once supply-side reforms on domestic coal mines are complete and recycled scrap rates grow.",
    "output": "[Cause] weaker Chinese steel demand [Relation] cause [Effect] China's met coal import needs to decline",
    "gold": "[Cause] weaker Chinese steel demand [Relation] cause [Effect] China's met coal import needs to decline, particularly once supply-side reforms on domestic coal mines are complete and recycled scrap rates grow",
    "valid": false,
    "tag": "substr_invalid"
  },
  {
    "input": "The increase in infrastructure investment and acquisitions resulted in our average annual EPS growth estimate increasing by 60 basis points, to 9.5%.",
    "output": "[Cause] The increase in infrastructure investment and acquisitions [Relation] cause [Effect] our average annual EPS growth estimate increasing by 60 basis points, to 9.5%",
    "gold": "[Cause] The increase in infrastructure investment and acquisitions [Relation] cause [Effect] average annual EPS growth estimate increasing by 60 basis points",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "Our forecast has slight increases in charge-offs in 2021 due to the COVID-19-driven downturn although we see credit costs as being very manageable, with reserve releases throughout 2021.",
    "output": "[Cause] the COVID-19-driven downturn [Relation] cause [Effect] Our forecast has slight increases in charge-offs in 2021",
    "gold": "[Cause]  the COVID-19-driven downturn [Relation] cause [Effect] slight increases in charge-offs in 2021",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "Another problem associated with Southern's transformation is the delays and cost overruns at the Kemper (Mississippi) project, an integrated gasification combined-cycle power plant that was to convert lignite coal to syngas and the first plant at commercial scale to use carbon capture.",
    "output": "[Cause] the delays and cost overruns at the Kemper (Mississippi) project [Relation] cause [Effect] Southern's transformation",
    "gold": "[Cause] delays and cost overruns at the Kemper (Mississippi) project [Relation] cause [Effect] Another problem associated with Southern's transformation",
    "valid": false,
    "tag": "substr_invalid"
  },
  {
    "input": "PPD has cited an increasing win rate for new business, driven by AES, and the company has also cited patient enrollment and trial startups 10%-30% faster than industry benchmarks.",
    "output": "[Cause] AES [Relation] cause [Effect] PPD has cited an increasing win rate for new business",
    "gold": "[Cause] driven by AES [Relation] cause [Effect] an increasing win rate for new business",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "The removal of bottlenecks like these will make it more likely that casing services is the limiting factor in deep-water drilling speed, and thus amplify the value proposition of superior casing operations.",
    "output": "[Cause] The removal of bottlenecks like these [Relation] enable [Effect] make it more likely that casing services is the limiting factor in deep-water drilling speed, and thus amplify the value proposition of superior casing operations",
    "gold": "[Cause] The removal of bottlenecks [Relation] prevent [Effect] casing services is the limiting factor in deep-water drilling speed",
    "valid": false,
    "tag": "substr_invalid"
  },
  {
    "input": "This expertise and the ability to offer technology capable of handling dynamic power requirements efficiently (through the firm's QSMod technology) has allowed Monolithic to take share in new server platforms ahead of competitors.",
    "output": "[Cause] This expertise and the ability to offer technology capable of handling dynamic power requirements efficiently (through the firm's QSMod technology) [Relation] enable [Effect] Monolithic to take share in new server platforms ahead of competitors",
    "gold": "[Cause] This expertise and the ability to offer technology capable of handling dynamic power requirements efficiently [Relation] enable [Effect] Monolithic to take share in new server platforms ahead of competitors",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "With 15% of sales to the auto industry and no other end-market making up over 5%, DuPont is diversified and we forecast consolidated revenue to grow above global GDP.",
    "output": "[Cause] 15% of sales to the auto industry and no other end-market making up over 5% [Relation] cause [Effect] DuPont is diversified",
    "gold": "[Cause] 15% of sales to the auto industry [Relation] enable [Effect] DuPont is diversified",
    "valid": false,
    "tag": "substr_invalid"
  },
  {
    "input": "With 15% of sales to the auto industry and no other end-market making up over 5%, DuPont is diversified and we forecast consolidated revenue to grow above global GDP.",
    "output": "[Cause] 15% of sales to the auto industry and no other end-market making up over 5% [Relation] cause [Effect] DuPont is diversified",
    "gold": "[Cause] no other end-market making up over 5% [Relation] enable [Effect] DuPont is diversified",
    "valid": false,
    "tag": "substr_invalid"
  },
  {
    "input": "Unlike other areas of packaged food, Hershey's category mix hasn't benefited from stock up grocery trips in response to concerns surrounding the coronavirus--given the impulse nature of the purchase.",
    "output": "[Cause] concerns surrounding the coronavirus--given the impulse nature of the purchase [Relation] cause [Effect] Hershey's category mix hasn't benefited from stock up grocery trips",
    "gold": "[Cause]  the impulse nature of the purchase [Relation] cause [Effect] Hershey's category mix hasn't benefited from stock up grocery trips in response to concerns surrounding the coronavirus",
    "valid": false,
    "tag": "substr_invalid"
  },
  {
    "input": "While the Chilean government has maintained one of the lowest debt burdens in Latin America, at roughly 30% of GDP, expanded fiscal spending and consistent budget deficits could result in sovereign credit downgrades, which places an implicit cap on domestic credit ratings and could raise borrowing costs.",
    "output": "[Cause] expanded fiscal spending and consistent budget deficits [Relation] cause [Effect] sovereign credit downgrades",
    "gold": "[Cause] expanded fiscal spending and consistent budget deficits [Relation] cause [Effect] sovereign credit downgrades, which places an implicit cap on domestic credit ratings and could raise borrowing costs",
    "valid": false,
    "tag": "substr_invalid"
  },
  {
    "input": "Additionally, over 80% of AUM is in private real estate rather than listed securities, which lacks the liquidity of shares traded on an exchange and is thus inherently stickier.",
    "output": "[Cause] lacks the liquidity of shares traded on an exchange [Relation] cause [Effect] inherently stickier",
    "gold": "[Cause] over 80% of AUM is in private real estate rather than listed securities, which lacks the liquidity of shares traded on an exchange [Relation] cause [Effect] inherently stickier",
    "valid": false,
    "tag": "substr_invalid"
  },
  {
    "input": "We believe that EA will continue to release its sports franchises and Battlefield on an annual and biennial basis, respectively, which provides the firm with a steady revenue base.",
    "output": "[Cause] EA will continue to release its sports franchises and Battlefield on an annual and biennial basis [Relation] enable [Effect] the firm with a steady revenue base",
    "gold": "[Cause] EA will continue to release its sports franchises and Battlefield on an annual and biennial basis, respectively [Relation] enable [Effect] the firm with a steady revenue base",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "In addition to further success we expect in adding subscribers, we believe the higher-quality network gives Telus more pricing power and is more efficient, leading to reduced costs.",
    "output": "[Cause] the higher-quality network gives Telus more pricing power and is more efficient [Relation] cause [Effect] reduced costs",
    "gold": "[Cause]  the higher-quality network [Relation] cause [Effect] reduced costs",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "The unknown duration and severity of the pandemic makes it challenging at best to forecast any return to automotive industry normalcy.",
    "output": "[Cause] The unknown duration and severity of the pandemic [Relation] cause [Effect] challenging at best to forecast any return to automotive industry normalcy",
    "gold": "[Cause] The unknown duration and severity of the pandemic [Relation] prevent [Effect] any return to automotive industry normalcy",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "However, because of the secular headwinds pressuring over half of its revenue, many of these categories are not as strategically important for the retailers as other high-growth categories, like organics, fresh prepared meals, and fresh on-the-go snacks, for example, where Conagra is not entrenched.",
    "output": "[Cause] the secular headwinds pressuring over half of its revenue [Relation] cause [Effect] many of these categories are not as strategically important for the retailers as other high-growth categories, like organics, fresh prepared meals, and fresh on-the-go snacks, for example, where Conagra is not entrenched",
    "gold": "[Cause] the secular headwinds pressuring over half of its revenue [Relation] cause [Effect] many of these categories are not as strategically important for the retailers as other high-growth categories",
    "valid": false,
    "tag": "substr_invalid"
  },
  {
    "input": "The company also invests in for-sale urban high-rise infill and for-rent projects to diversify revenue and leverage existing assets.",
    "output": "[Cause] The company also invests in for-sale urban high-rise infill and for-rent projects [Relation] enable [Effect] diversify revenue and leverage existing assets",
    "gold": "[Cause] company also invests in for-sale urban high-rise infill and for-rent projects [Relation] cause [Effect] diversify revenue and leverage existing assets",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "We believe the company's presence in traditional on-premises deployments of Server (and SQL database) have helped guide customers toward Azure for both fully public and hybrid deployments.",
    "output": "[Cause] the company's presence in traditional on-premises deployments of Server (and SQL database) [Relation] enable [Effect] guide customers toward Azure for both fully public and hybrid deployments",
    "gold": "[Cause] the company's presence in traditional on-premises deployments of Server [Relation] enable [Effect] guide customers toward Azure for both fully public and hybrid deployments",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "We think management has positioned Lumen to remain viable for the long term despite sales headwinds, reducing the chances that it is on a slow path to fading away.",
    "output": "[Cause] management has positioned Lumen to remain viable for the long term [Relation] cause [Effect] reducing the chances that it is on a slow path to fading away",
    "gold": "[Cause] management has positioned Lumen to remain viable for the long term despite sales headwinds [Relation] cause [Effect] reducing the chances that it is on a slow path to fading away.",
    "valid": false,
    "tag": "substr_invalid"
  },
  {
    "input": "We believe Sirius has developed a differentiated product through its lineup of stations and that it can deliver hours of entertainment more cheaply than these rivals. As a result, we expect Sirius will be able to modestly grow its customer base over the next five years.",
    "output": "[Cause] We believe Sirius has developed a differentiated product through its lineup of stations and that it can deliver hours of entertainment more cheaply than these rivals [Relation] cause [Effect] Sirius will be able to modestly grow its customer base over the next five years",
    "gold": "[Cause] We believe Sirius has developed a differentiated product through its lineup of stations and that it can deliver hours of entertainment more cheaply than these rivals [Relation] cause [Effect] we expect Sirius will be able to modestly grow its customer base over the next five years",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "For Vistar, organic volumes fell 11% in fiscal 2020, and we expect another 4% drop in 2021 as movie theaters and entertainment arenas should be slower to recover from the pandemic.",
    "output": "[Cause] movie theaters and entertainment arenas should be slower to recover from the pandemic [Relation] cause [Effect] For Vistar, organic volumes fell 11% in fiscal 2020, and we expect another 4% drop in 2021",
    "gold": "[Cause]  movie theaters and entertainment arenas should be slower to recover from the pandemic [Relation] cause [Effect]  another 4% drop in 2021",
    "valid": false,
    "tag": "substr_invalid"
  },
  {
    "input": "We had forecast strong earnings growth for Dominion Energy Virginia in 2023 and 2024, as investments in offshore wind and solar were recognized in rates.",
    "output": "[Cause] investments in offshore wind and solar were recognized in rates [Relation] cause [Effect] strong earnings growth for Dominion Energy Virginia in 2023 and 2024",
    "gold": "[Cause]  investments in offshore wind and solar were recognized in rates [Relation] cause [Effect] forecast strong earnings growth for Dominion Energy Virginia in 2023 and 2024",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "Finally, Hilton and other large hotel brands require high amounts of human capital, which helps drive traveler experience, and therefore is tied to brand intangible asset advantages found in the industry.",
    "output": "[Cause] Hilton and other large hotel brands require high amounts of human capital [Relation] enable [Effect] helps drive traveler experience, and therefore is tied to brand intangible asset advantages found in the industry",
    "gold": "[Cause] high amounts of human capital [Relation] cause [Effect] helps drive traveler experience",
    "valid": false,
    "tag": "substr_invalid"
  },
  {
    "input": "T-Mobile's strong brand and reputation for service quality, coupled with its industry-leading spectrum position, should enable to the firm to steadily attract customers without resorting to aggressive promotional offers.",
    "output": "[Cause] T-Mobile's strong brand and reputation for service quality, coupled with its industry-leading spectrum position [Relation] enable [Effect] the firm to steadily attract customers without resorting to aggressive promotional offers",
    "gold": "[Cause] T-Mobile's strong brand and reputation for service quality, coupled with its industry-leading spectrum position [Relation] enable [Effect] the firm to steadily attract customers without resorting to aggressive promotional offer",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "More positively, though, DaVita's international operations are beginning to become profitable and the 2019 sale of the DaVita Medical Group to UnitedHealth's Optum franchise should help push DaVita's profitability toward 16% on an operating margin basis through 2024.",
    "output": "[Cause] the 2019 sale of the DaVita Medical Group to UnitedHealth's Optum franchise [Relation] enable [Effect] push DaVita's profitability toward 16% on an operating margin basis through 2024",
    "gold": "[Cause] More positively, though, DaVita's international operations are beginning to become profitable and the 2019 sale of the DaVita Medical Group to UnitedHealth's Optum franchise [Relation] enable [Effect] DaVita's profitability toward 16% on an operating margin basis through 2024",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "We believe the company's aggressive approach is the best strategy as Western Union is positioning itself to adapt to a changing industry and maintain its scale advantage despite the shift.",
    "output": "[Cause] Western Union is positioning itself to adapt to a changing industry and maintain its scale advantage despite the shift [Relation] cause [Effect] the company's aggressive approach is the best strategy",
    "gold": "[Cause] Western Union is positioning itself to adapt to a changing industry and maintain its scale advantage despite the shift [Relation] cause [Effect] We believe the company's aggressive approach is the best strategy",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "The cut in Enable's distribution and near-term impact of COVID-19 on earnings and cash flow forced CenterPoint to slash its common dividend to an annual rate of $0.60 per share from $1.16.",
    "output": "[Cause] The cut in Enable's distribution and near-term impact of COVID-19 on earnings and cash flow [Relation] cause [Effect] CenterPoint to slash its common dividend to an annual rate of $0.60 per share from $1.16",
    "gold": "[Cause] The cut in Enable's distribution and near-term impact of COVID-19 on earnings and cash [Relation] enable [Effect] CenterPoint to slash its common dividend to an annual rate of $0.60 per share from $1.16",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "While these types of lawsuits are typically resolved with negotiated settlements and single-digit royalty payments, Regeneron may face larger financial penalties should it be found to be infringing on Amgen's patents.",
    "output": "[Cause] it be found to be infringing on Amgen's patents [Relation] cause [Effect] Regeneron may face larger financial penalties",
    "gold": "[Cause]  be found to be infringing on Amgen's patents [Relation] cause [Effect] Regeneron may face larger financial penalties",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "Nice, which already provided cloud-based WEM and WFO, made a bigger push into the cloud with the 2016 acquisition of contact-center-as-a-service provider inContact.",
    "output": "[Cause] the 2016 acquisition of contact-center-as-a-service provider inContact [Relation] enable [Effect] Nice, which already provided cloud-based WEM and WFO, made a bigger push into the cloud",
    "gold": "[Cause] 2016 acquisition of contact-center-as-a-service provider inContact [Relation] cause [Effect] a bigger push into the cloud",
    "valid": false,
    "tag": "substr_invalid"
  },
  {
    "input": "We forecast low- to mid-single-digit compound annual organic sales growth during the next five years, as we expect all of DuPont's businesses to fully recover after a COVID-19-related decline in 2020.",
    "output": "[Cause] we expect all of DuPont's businesses to fully recover after a COVID-19-related decline in 2020 [Relation] cause [Effect] low- to mid-single-digit compound annual organic sales growth during the next five years",
    "gold": "[Cause] all of DuPont's businesses to fully recover after a COVID-19-related decline in 2020 [Relation] cause [Effect] low- to mid-single-digit compound annual organic sales growth during the next five years",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "Its portfolio of long-running successful franchises allows the firm to monetize its intellectual property year after year by delivering content via sequels, expansion packs, and DLC, exemplified by the annual Electronic Gaming & Multimediaversions of Madden (over 25 annual editions) and FIFA (over 20 annual editions).",
    "output": "[Cause] Its portfolio of long-running successful franchises [Relation] enable [Effect] the firm to monetize its intellectual property year after year by delivering content via sequels, expansion packs, and DLC, exemplified by the annual Electronic Gaming & Multimediaversions of Madden (over 25 annual editions) and FIFA (over 20 annual editions)",
    "gold": "[Cause] Its portfolio of long-running successful franchises [Relation] enable [Effect] the firm to monetize its intellectual property year after year",
    "valid": false,
    "tag": "substr_invalid"
  },
  {
    "input": "We had increased our uncertainty rating early in the pandemic primarily to account for the legal uncertainty surrounding business interruption claims.",
    "output": "[Cause] the legal uncertainty surrounding business interruption claims [Relation] cause [Effect] We had increased our uncertainty rating early in the pandemic",
    "gold": "[Cause]  account for the legal uncertainty surrounding business interruption claims [Relation] cause [Effect] We had increased our uncertainty rating early in the pandemic",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "Politicians and regulators in Colorado, Minnesota, and New Mexico are pushing aggressive environmental targets, supporting even more growth potential for Xcel during the next few decades.",
    "output": "[Cause] Politicians and regulators in Colorado, Minnesota, and New Mexico are pushing aggressive environmental targets [Relation] enable [Effect] supporting even more growth potential for Xcel during the next few decades",
    "gold": "[Cause] Politicians and regulators in Colorado, Minnesota, and New Mexico are pushing aggressive environmental targets [Relation] enable [Effect] more growth potential for Xcel during the next few decades",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "Even so, annual research and development expense as well as number of patents are not disclosed by Magna, leaving no way for the market to judge the extent of technological innovation.",
    "output": "[Cause] annual research and development expense as well as number of patents are not disclosed by Magna [Relation] cause [Effect] no way for the market to judge the extent of technological innovation",
    "gold": "[Cause] annual research and development expense as well as number of patents are not disclosed by Magna [Relation] prevent [Effect]  the market to judge the extent of technological innovation",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "Nevertheless, the breadth of the portfolio and the performance of other formula brands in China have ensured Danone has continued its spectacular growth in the region.",
    "output": "[Cause] the breadth of the portfolio and the performance of other formula brands in China [Relation] enable [Effect] Danone has continued its spectacular growth in the region",
    "gold": "[Cause] the breadth of the portfolio and the performance of other formula brands in China [Relation] enable [Effect] ensured Danone has continued its spectacular growth in the region",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "STMicro's ROICs in prior years have been below the company's weighted average cost of capital, mainly because the firm still competed in less profitable (if not money losing) wireless baseband and digital chip business like set-top box processors that were both costly to manufacture and faced cutthroat competition.",
    "output": "[Cause] the firm still competed in less profitable (if not money losing) wireless baseband and digital chip business like set-top box processors that were both costly to manufacture and faced cutthroat competition [Relation] cause [Effect] STMicro's ROICs in prior years have been below the company's weighted average cost of capital",
    "gold": "[Cause]  the firm still competed in less profitable (if not money losing) wireless baseband and digital chip business [Relation] cause [Effect] STMicro's ROICs in prior years have been below the company's weighted average cost of capital",
    "valid": false,
    "tag": "substr_invalid"
  },
  {
    "input": "As Lloyds operates primarily in the U.K., which comprises highly correlated and homogeneous markets, we don't see any strong diversification effects that could help manage spikes in credit costs.",
    "output": "[Cause] Lloyds operates primarily in the U.K., which comprises highly correlated and homogeneous markets [Relation] cause [Effect] we don't see any strong diversification effects that could help manage spikes in credit costs",
    "gold": "[Cause] Lloyds operates primarily in the U.K., which comprises highly correlated and homogeneous markets [Relation] prevent [Effect] strong diversification effects that could help manage spikes in credit costs",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "We expect revenue growth to accelerate in 2021 as the economy recovers from the COVID-19 pandemic, helped by greater revenue contribution from YouTube and cloud and the acquisition of Fitbit.",
    "output": "[Cause] the economy recovers from the COVID-19 pandemic, helped by greater revenue contribution from YouTube and cloud and the acquisition of Fitbit [Relation] cause [Effect] revenue growth to accelerate in 2021",
    "gold": "[Cause] greater revenue contribution from YouTube and cloud and the acquisition of Fitbit [Relation] enable [Effect]  revenue growth to accelerate in 2021 as the economy recovers from the COVID-19 pandemic",
    "valid": false,
    "tag": "substr_invalid"
  },
  {
    "input": "Teleflex growth and profit outlook is strong, in our opinion, with UroLift-led growth likely to keep the firm's growth in the mid- to upper-single-digit range over the next few years, and restructuring and transformation efforts should improve the firm's margin profile, which has generally trailed peers.",
    "output": "[Cause] UroLift-led growth [Relation] enable [Effect] keep the firm's growth in the mid- to upper-single-digit range over the next few years",
    "gold": "[Cause] UroLift-led growth [Relation] enable [Effect] keep the firm's growth in the mid- to upper-single-digit range",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "By utilizing Nice's solutions, businesses can reduce the expenditure needed to hire compliance personnel and reduce the risk of breaking certain laws.",
    "output": "[Cause] utilizing Nice's solutions [Relation] enable [Effect] businesses can reduce the expenditure needed to hire compliance personnel and reduce the risk of breaking certain laws",
    "gold": "[Cause] By utilizing Nice's solutions [Relation] enable [Effect]  businesses can reduce the expenditure needed to hire compliance personnel and reduce the risk of breaking certain laws",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "Overall, robust operational execution has driven industry-leading profitability and robust share gains from less capable carriers, and that will likely persist.",
    "output": "[Cause] robust operational execution [Relation] enable [Effect] industry-leading profitability and robust share gains from less capable carriers",
    "gold": "[Cause]  operational execution [Relation] enable [Effect] industry-leading profitability and robust share gains from less capable carriers",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "RingCentral's early focus was on small and medium businesses, but we're optimistic about the company's expansion into larger enterprises, as dollar retention exceeds 120% for mid-size and enterprise customers.",
    "output": "[Cause] dollar retention exceeds 120% for mid-size and enterprise customers [Relation] cause [Effect] optimistic about the company's expansion into larger enterprises",
    "gold": "[Cause] dollar retention exceeds 120% for mid-size and enterprise customers [Relation] cause [Effect] we're optimistic about the company's expansion into larger enterprises",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "However, we don't see any long-term industry trends that will impede Visa's ability to maintain its growth in the coming years, and the scalability of the business should still allow the company to modestly expand its already ample margins over time.",
    "output": "[Cause] long-term industry trends [Relation] prevent [Effect] Visa's ability to maintain its growth in the coming years",
    "gold": "[Cause] we don't see any long-term industry trends [Relation] prevent [Effect] Visa's ability to maintain its growth in the coming years",
    "valid": false,
    "tag": "substr_invalid"
  },
  {
    "input": "The COVID-19 outbreak injects considerable near-term macroeconomic uncertainty, though the industry has performed well during the pandemic thus far.",
    "output": "[Cause] The COVID-19 outbreak [Relation] cause [Effect] injects considerable near-term macroeconomic uncertainty",
    "gold": "[Cause] The COVID-19 outbreak [Relation] cause [Effect] considerable near-term macroeconomic uncertainty",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "We suspect that recent consumer pressure and voluntary pension fund withdrawals will result in sustained pressure, modeling normalized charge-offs reaching 0.3% in mortgages and 1.10% across the whole loan book.",
    "output": "[Cause] recent consumer pressure and voluntary pension fund withdrawals [Relation] cause [Effect] sustained pressure, modeling normalized charge-offs reaching 0.3% in mortgages and 1.10% across the whole loan book",
    "gold": "[Cause] recent consumer pressure and voluntary pension fund withdrawals [Relation] cause [Effect] sustained pressure",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "The company is also taking great strides to accelerate its debt payback through selling business units and its planned VMware spin-off.",
    "output": "[Cause] selling business units and its planned VMware spin-off [Relation] enable [Effect] accelerate its debt payback",
    "gold": "[Cause] selling business units and its planned VMware spin-off [Relation] enable [Effect] The company is also taking great strides to accelerate its debt payback",
    "valid": false,
    "tag": "substr_invalid"
  },
  {
    "input": "Given the market appreciation during 2020 and at the beginning in 2021, we expect the firm's asset-management business to grow revenue in 2021.",
    "output": "[Cause] the market appreciation during 2020 and at the beginning in 2021 [Relation] cause [Effect] the firm's asset-management business to grow revenue in 2021",
    "gold": "[Cause] Given the market appreciation during 2020 and at the beginning in 2021 [Relation] enable [Effect] we expect the firm's asset-management business to grow revenue in 2021",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "While the level of penetration in each of these locations varies, we believe the security and social environment is currently driving demand for these products, increasing the penetration of these new solutions at existing customers and further increasing the potential switching costs.",
    "output": "[Cause] the security and social environment is currently driving demand for these products [Relation] cause [Effect] increasing the penetration of these new solutions at existing customers and further increasing the potential switching costs",
    "gold": "[Cause] the security and social environment [Relation] cause [Effect] driving demand for these products, increasing the penetration of these new solutions at existing customers and further increasing the potential switching costs",
    "valid": false,
    "tag": "substr_invalid"
  },
  {
    "input": "Over the next three years Bed Bath expects to uncover $850 million-$1 billion in EBITDA improvement, aided by a workforce reduction, improved product sourcing, and real estate optimization.",
    "output": "[Cause] a workforce reduction, improved product sourcing, and real estate optimization [Relation] enable [Effect] uncover $850 million-$1 billion in EBITDA improvement",
    "gold": "[Cause] a workforce reduction, improved product sourcing, and real estate optimization [Relation] cause [Effect] $850 million-$1 billion in EBITDA improvement",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "We expect solid recovery in 2021, with revenue rising 8%-9% on solid intermodal growth (aided by robust retailer restocking), new automotive end-market business, and industrial end-market improvement (which carries some risk).",
    "output": "[Cause] solid intermodal growth (aided by robust retailer restocking), new automotive end-market business, and industrial end-market improvement (which carries some risk) [Relation] enable [Effect] solid recovery in 2021, with revenue rising 8%-9%",
    "gold": "[Cause] (aided by robust retailer restocking), new automotive end-market business, and industrial end-market improvement (which carries some risk) [Relation] cause [Effect] We expect solid recovery in 2021, with revenue rising 8%-9% on solid intermodal growth",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "We think that United's substantial cash on hand from successful capital raises lowers the chance of firm failure in the short term.",
    "output": "[Cause] United's substantial cash on hand from successful capital [Relation] cause [Effect] lowers the chance of firm failure in the short term",
    "gold": "[Cause] United's substantial cash on hand from successful capital raises [Relation] prevent [Effect] the chance of firm failure in the short term",
    "valid": false,
    "tag": "substr_invalid"
  },
  {
    "input": "With the new low-risk indication added in 2019, we anticipate the firm will further expand TAVR indications to fuel growth.",
    "output": "[Cause] the new low-risk indication added in 2019 [Relation] cause [Effect] the firm will further expand TAVR indications to fuel growth",
    "gold": "[Cause] h the new low-risk indication added in 2019 [Relation] cause [Effect] the firm will further expand TAVR indications to fuel growth",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "These products have shown strong growth, but pressure on asset manager budgets and fund closures could weigh on the firm.",
    "output": "[Cause] pressure on asset manager budgets and fund closures [Relation] prevent [Effect] the firm",
    "gold": "[Cause]  pressure on asset manager budgets and fund closures [Relation] cause [Effect] weigh on the firm",
    "valid": false,
    "tag": "substr_invalid"
  },
  {
    "input": "It benefits from a powerful set of mutually reinforcing and self-perpetuating intangible assets that, together with its strong cost positioning, have calcified its competitive position.",
    "output": "[Cause] a powerful set of mutually reinforcing and self-perpetuating intangible assets [Relation] enable [Effect] calcified its competitive position",
    "gold": "[Cause] a powerful set of mutually reinforcing and self-perpetuating intangible assets that, together with its strong cost positioning [Relation] enable [Effect] calcified its competitive position",
    "valid": false,
    "tag": "substr_invalid"
  },
  {
    "input": "However, despite the downside effect of changes to employers' tax credits, in general, France's pro-employment policies are shaping up to be tailwinds to the temporary recruitment industry.",
    "output": "[Cause] France's pro-employment policies [Relation] prevent [Effect] the temporary recruitment industry",
    "gold": "[Cause] France's pro-employment policies [Relation] cause [Effect] tailwinds to the temporary recruitment industry",
    "valid": false,
    "tag": "substr_invalid"
  },
  {
    "input": "Marsh & McLennan's largest cost component is employee compensation, which could lead to pressure on margins if labor conditions grew tight, and any large-scale employee defections could damage the business.",
    "output": "[Cause] large-scale employee defections [Relation] cause [Effect] damage the business",
    "gold": "[Cause] any large-scale employee defections [Relation] cause [Effect] damage the business",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "We believe these rising standards favor existing chip suppliers that can reliably and consistently deliver microcontroller units and advanced analog chips at the scale to service the demands of global auto OEMs and Tier 1 suppliers.",
    "output": "[Cause] these rising standards favor existing chip suppliers [Relation] enable [Effect] reliably and consistently deliver microcontroller units and advanced analog chips at the scale to service the demands of global auto OEMs and Tier 1 suppliers",
    "gold": "[Cause]  these rising standards [Relation] enable [Effect]  favor existing chip suppliers that can reliably and consistently deliver microcontroller units and advanced analog chips at the scale to service the demands of global auto OEMs and Tier 1 suppliers",
    "valid": false,
    "tag": "substr_invalid"
  },
  {
    "input": "Vans has grown through international expansion, greater wholesale distribution, e-commerce, and an increase in the number of company-owned stores, of which there are now more than 700.",
    "output": "[Cause] international expansion, greater wholesale distribution, e-commerce, and an increase in the number of company-owned stores [Relation] enable [Effect] Vans has grown",
    "gold": "[Cause] international expansion, greater wholesale distribution, e-commerce, and an increase in the number of company-owned stores, of which there are now more than 700 [Relation] enable [Effect] Vans has grown",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "Being unable to get site approvals in countries where corruption could be more prevalent could impact growth in the international business, which we are counting on, but the company has a lot of experience navigating foreign markets.",
    "output": "[Cause] Being unable to get site approvals in countries where corruption could be more prevalent [Relation] cause [Effect] impact growth in the international business",
    "gold": "[Cause] Being unable to get site approvals in countries where corruption [Relation] prevent [Effect] growth in the international business",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "Our projected asset-management revenue compound annual growth rate over the next five years is about 5.5%. This is based on normalized growth of about 6.5% in assets under management and 2 basis points of annual pricing compression.",
    "output": "[Cause] normalized growth of about 6.5% in assets under management and 2 basis points of annual pricing compression [Relation] cause [Effect] Our projected asset-management revenue compound annual growth rate over the next five years is about 5.5%",
    "gold": "[Cause] normalized growth of about 6.5% in assets under management and 2 basis points of annual pricing compression [Relation] cause [Effect] asset-management revenue compound annual growth rate over the next five years is about 5.5%",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "We have lowered our fair value estimate to $10 per ADR from $10.50 after incorporating a less bullish view on Enel Americas' acquisition of EGP's renewable energy assets.",
    "output": "[Cause] incorporating a less bullish view on Enel Americas' acquisition of EGP's renewable energy assets [Relation] cause [Effect] We have lowered our fair value estimate to $10 per ADR from $10.50",
    "gold": "[Cause]  incorporating a less bullish view on Enel Americas' acquisition of EGP's renewable energy assets [Relation] prevent [Effect] have lowered our fair value estimate to $10 per ADR from $10.50",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "Pipeline utilization for Sand Hills (primarily moving NGLs from the Permian to Mont Belvieu, Texas) is nearly maxed out, offering the potential for further expansion as markets slowly recover over the next few years.",
    "output": "[Cause] markets slowly recover over the next few years [Relation] enable [Effect] the potential for further expansion",
    "gold": "[Cause]  markets slowly recover over the next few years [Relation] cause [Effect] offering the potential for further expansion",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "Moreover, the crisis forced the suspension of nearly all amateur and professional sports, causing a drop in demand for some of Under Armour's athletic gear.",
    "output": "[Cause] the crisis [Relation] cause [Effect] the suspension of nearly all amateur and professional sports",
    "gold": "[Cause] crisis [Relation] cause [Effect] the suspension of nearly all amateur and professional sports",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "In the past, this had led to some cumbersome wafer supply agreements with Global Foundries that locked AMD into fixed amounts of wafers, which consequently hurt margins during times of lower chip demand.",
    "output": "[Cause] some cumbersome wafer supply agreements with Global Foundries that locked AMD into fixed amounts of wafers [Relation] cause [Effect] hurt margins during times of lower chip demand",
    "gold": "[Cause] some cumbersome wafer supply agreements with Global Foundries [Relation] cause [Effect] hurt margins during times of lower chip demand",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "We have lowered our fair value estimate for Arrow to $84 from $88 per share because of weaker demand as a result of macroeconomic uncertainty from COVID-19.",
    "output": "[Cause] macroeconomic uncertainty from COVID-19 [Relation] cause [Effect] We have lowered our fair value estimate for Arrow to $84 from $88 per share because of weaker demand",
    "gold": "[Cause] weaker demand as a result of macroeconomic uncertainty from COVID-19 [Relation] cause [Effect] We have lowered our fair value estimate for Arrow to $84 from $88 per share",
    "valid": false,
    "tag": "substr_invalid"
  },
  {
    "input": "Suppliers are eager to partner with Yum and its strong unit growth potential, thus ensuring access to favorable purchasing terms.",
    "output": "[Cause] Suppliers are eager to partner with Yum and its strong unit growth potential [Relation] enable [Effect] access to favorable purchasing terms",
    "gold": "[Cause] eager to partner with Yum and its strong unit growth potential [Relation] cause [Effect] ensuring access to favorable purchasing terms",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "While the automotive part sector has performed relatively well during the pandemic thus far, spiking unemployment and unprecedented global lockdowns have slashed miles driven and slowed vehicle wear and tear.",
    "output": "[Cause] spiking unemployment and unprecedented global lockdowns [Relation] cause [Effect] slashed miles driven and slowed vehicle wear and tear",
    "gold": "[Cause] spiking unemployment | unprecedented global lockdowns [Relation] enable [Effect]  slashed miles driven | slowed vehicle wear and tear",
    "valid": false,
    "tag": "substr_invalid"
  },
  {
    "input": "Even though firms throughout the consumer products segment have been touting improving sales trends as consumers are stocking up on essential fare, Hershey's category mix hasn't fit the bill--given the impulse nature of the purchase.",
    "output": "[Cause] consumers are stocking up on essential fare [Relation] cause [Effect] Hershey's category mix hasn't fit the bill",
    "gold": "[Cause] Even though firms throughout the consumer products segment have been touting improving sales trends as consumers are stocking up on essential fare, [Relation] enable [Effect] Hershey's category mix hasn't fit the bill--given the impulse nature of the purchase.",
    "valid": false,
    "tag": "substr_invalid"
  },
  {
    "input": "In addition, over time, if different brands begin to share more features and attract similar users, cannibalization of one brand by a lower priced one could have a bigger impact on Match Group's overall operating results.",
    "output": "[Cause] different brands begin to share more features and attract similar users [Relation] cause [Effect] cannibalization of one brand by a lower priced one could have a bigger impact on Match Group's overall operating results",
    "gold": "[Cause]  different brands begin to share more features and attract similar users, cannibalization of one brand by a lower priced one [Relation] cause [Effect] have a bigger impact on Match Group's overall operating results",
    "valid": false,
    "tag": "substr_invalid"
  },
  {
    "input": "We think the different networking infrastructures provide an opportunity for VMware to capitalize on enterprises desiring software commonality between their private and public clouds.",
    "output": "[Cause] the different networking infrastructures [Relation] enable [Effect] VMware to capitalize on enterprises desiring software commonality between their private and public clouds",
    "gold": "[Cause]  the different networking infrastructures [Relation] enable [Effect] an opportunity for VMware to capitalize on enterprises desiring software commonality between their private and public clouds",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "This method means we currently model the yen to slightly strengthen against the dollar over the next five years relative to the spot rate in June 2021, which hurts Honda's margins.",
    "output": "[Cause] We currently model the yen to slightly strengthen against the dollar over the next five years relative to the spot rate in June 2021 [Relation] cause [Effect] hurts Honda's margins",
    "gold": "[Cause] the yen to slightly strengthen against the dollar over the next five years relative to the spot rate in June 2021 [Relation] cause [Effect] hurts Honda's margins",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "Corning's synergies between Display and Specialty Materials, along with its unparalleled scale in the cover glass market, allow it to consistently achieve operating margins 500-plus basis points above its chief competitors.",
    "output": "[Cause] Corning's synergies between Display and Specialty Materials, along with its unparalleled scale in the cover glass market [Relation] enable [Effect] consistently achieve operating margins 500-plus basis points above its chief competitors",
    "gold": "[Cause] Corning's synergies between Display and Specialty Materials [Relation] cause [Effect] achieve operating margins 500-plus basis points above its chief competitors",
    "valid": false,
    "tag": "substr_invalid"
  },
  {
    "input": "Corning's synergies between Display and Specialty Materials, along with its unparalleled scale in the cover glass market, allow it to consistently achieve operating margins 500-plus basis points above its chief competitors.",
    "output": "[Cause] Corning's synergies between Display and Specialty Materials, along with its unparalleled scale in the cover glass market [Relation] enable [Effect] consistently achieve operating margins 500-plus basis points above its chief competitors",
    "gold": "[Cause]  its unparalleled scale in the cover glass market [Relation] cause [Effect] achieve operating margins 500-plus basis points above its chief competitors",
    "valid": false,
    "tag": "substr_invalid"
  },
  {
    "input": "The Canadian banks, because their branch networks spread out through all of Canada, arguably have some of the most powerful distribution networks in Canada.",
    "output": "[Cause] their branch networks spread out through all of Canada [Relation] cause [Effect] arguably have some of the most powerful distribution networks in Canada",
    "gold": "[Cause]  their branch networks spread out through all of Canada [Relation] cause [Effect] have some of the most powerful distribution networks in Canada",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "Its strategy makes ConocoPhillips a compelling option in the energy sector, given its commitment to capital restraint and clear policy on return of cash to shareholders.",
    "output": "[Cause] its commitment to capital restraint and clear policy on return of cash to shareholders [Relation] cause [Effect] Its strategy makes ConocoPhillips a compelling option in the energy sector",
    "gold": "[Cause]  commitment to capital restraint and clear policy on return of cash to shareholders [Relation] cause [Effect]  a compelling option in the energy sector",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "However, because the firm does not yet have a large and reliable recurring revenue base (through supplies, services, or software), a sustained economic downturn would cause Zebra's revenue and margins to be materially affected.",
    "output": "[Cause] the firm does not yet have a large and reliable recurring revenue base (through supplies, services, or software) [Relation] cause [Effect] a sustained economic downturn would cause Zebra's revenue and margins to be materially affected",
    "gold": "[Cause] the firm does not yet have a large and reliable recurring revenue base [Relation] cause [Effect] a sustained economic downturn would cause Zebra's revenue and margins to be materially affected",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "Gap has, in some sense, been in decline for more than two decades as specialty chains, mass merchants, and others have relentlessly offered styles to draw shoppers from Gap and the malls that house many of its stores.",
    "output": "[Cause] specialty chains, mass merchants, and others have relentlessly offered styles to draw shoppers from Gap and the malls that house many of its stores [Relation] cause [Effect] Gap has, in some sense, been in decline for more than two decades",
    "gold": "[Cause] specialty chains, mass merchants, and others have relentlessly offered styles to draw shoppers from Gap and the malls that house many of its stores [Relation] cause [Effect]  been in decline for more than two decades",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "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 in addition to adding members of new clients under new logos.",
    "output": "[Cause] penetrating members of existing customers in addition to adding members of new clients under new logos [Relation] enable [Effect] the company is likely to retain its first-mover advantage and scale",
    "gold": "[Cause] penetrating members of existing customers [Relation] cause [Effect] the company is likely to retain its first-mover advantage and scale",
    "valid": false,
    "tag": "substr_invalid"
  },
  {
    "input": "An overlapping business with Level 3 and the more abundant combined network brings far more buildings on net and should lead to other synergies, resulting better profitability.",
    "output": "[Cause] An overlapping business with Level 3 and the more abundant combined network brings far more buildings on net [Relation] cause [Effect] lead to other synergies, resulting better profitability",
    "gold": "[Cause] An overlapping business with Level 3 and the more abundant combined network brings far more buildings on net [Relation] cause [Effect]  lead to other synergies, resulting better profitability.",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "AvalonBay Communities owns and operates high-quality multifamily buildings in urban and suburban coastal markets with demographics that allow the company to maintain high occupancies and drive strong rent growth, specifically, New England, New York/New Jersey, the mid-Atlantic, Southern California, Northern California, and Seattle.",
    "output": "[Cause] AvalonBay Communities owns and operates high-quality multifamily buildings in urban and suburban coastal markets with demographics [Relation] enable [Effect] the company to maintain high occupancies and drive strong rent growth",
    "gold": "[Cause] AvalonBay Communities owns and operates high-quality multifamily buildings in urban and suburban coastal markets with demographics [Relation] enable [Effect]  allow the company to maintain high occupancies and drive strong rent growth",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "Prior to the COVID-19-related uptick in demand, customer acquisition costs rose to around $90 in 2019 (versus $66 in 2016), while direct retail advertising spending growth had also increased to support sales increases.",
    "output": "[Cause] direct retail advertising spending growth had also increased [Relation] enable [Effect] support sales increases",
    "gold": "[Cause] customer acquisition costs rose to around $90 in 2019 (versus $66 in 2016), while direct retail advertising spending growth had also increased [Relation] enable [Effect] sales increases",
    "valid": false,
    "tag": "substr_invalid"
  },
  {
    "input": "On the positive side, we think it would be difficult for any new competitor to enter the market en masse and take material share from the top operators (Royal Caribbean, Carnival, and Norwegian) due to the structural anomalies of the business.",
    "output": "[Cause] the structural anomalies of the business [Relation] cause [Effect] it would be difficult for any new competitor to enter the market en masse and take material share from the top operators (Royal Caribbean, Carnival, and Norwegian)",
    "gold": "[Cause] the structural anomalies of the business [Relation] cause [Effect] we think it would be difficult for any new competitor to enter the market en masse and take material share from the top operators (Royal Caribbean, Carnival, and Norwegian)",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "It has built a reputation for quality and speed, which allows it to control 35% market share of the research model and services industry and 33% of the outsourced safety assessment industry worldwide.",
    "output": "[Cause] It has built a reputation for quality and speed [Relation] enable [Effect] it to control 35% market share of the research model and services industry and 33% of the outsourced safety assessment industry worldwide",
    "gold": "[Cause] It has built a reputation for quality and speed [Relation] cause [Effect] control 35% market share of the research model and services industry and 33% of the outsourced safety assessment industry worldwide",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "We believe these legacy game IPs and research and development capabilities have helped and will continue to help NetEase cement its number-two position in the Chinese gaming market.",
    "output": "[Cause] these legacy game IPs and research and development capabilities [Relation] enable [Effect] NetEase cement its number-two position in the Chinese gaming market",
    "gold": "[Cause] legacy game IPs and research and development capabilities [Relation] enable [Effect] NetEase cement its number-two position in the Chinese gaming market",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "For sales representatives, we believe the sales pitch becomes much easier if they offer technicians periodic payment installments, rather than asking for an up-front payment.",
    "output": "[Cause] they offer technicians periodic payment installments [Relation] enable [Effect] the sales pitch becomes much easier",
    "gold": "[Cause] they offer technicians periodic payment installments, rather than asking for an up-front payment [Relation] cause [Effect]  the sales pitch becomes much easier",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "Over the next 10 years, we expect gross margins will average 30.3%, a 220 basis point improvement over fiscal 2020, driven by synergies from the Pinnacle Foods acquisition, over $700 million in supply chain savings, and margin-accretive innovation, partially offset by cost inflation.",
    "output": "[Cause] synergies from the Pinnacle Foods acquisition, over $700 million in supply chain savings, and margin-accretive innovation, partially offset by cost inflation [Relation] cause [Effect] gross margins will average 30.3%, a 220 basis point improvement over fiscal 2020",
    "gold": "[Cause] synergies from the Pinnacle Foods acquisition, over $700 million in supply chain savings, and margin-accretive innovation [Relation] enable [Effect] gross margins will average 30.3%, a 220 basis point improvement over fiscal 2020",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "In addition, the ongoing low-carbon trends (such as the gradual transition to lower-emitting fuels) could eventually lower demand for oil and gas.",
    "output": "[Cause] the ongoing low-carbon trends [Relation] cause [Effect] lower demand for oil and gas",
    "gold": "[Cause] the ongoing low-carbon trends (such as the gradual transition to lower-emitting fuels) [Relation] enable [Effect] lower demand for oil and gas",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "Returns for these assets are typically about 6%, but Total expects to deliver returns of 10% or higher by developing assets with leverage then later farming down its stakes.",
    "output": "[Cause] developing assets with leverage then later farming down its stakes [Relation] enable [Effect] Total expects to deliver returns of 10% or higher",
    "gold": "[Cause] developing assets with leverage then later farming down its stakes [Relation] cause [Effect] deliver returns of 10% or higher",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "In 2017, Jacobs acquired CH2M for $3.3 billion to bolster its presence in the transportation, water, nuclear, and environmental services end markets.",
    "output": "[Cause] Jacobs acquired CH2M for $3.3 billion [Relation] enable [Effect] bolster its presence in the transportation, water, nuclear, and environmental services end markets",
    "gold": "[Cause] In 2017, Jacobs acquired CH2M for $3.3 billion [Relation] enable [Effect] bolster its presence in the transportation, water, nuclear, and environmental services end markets",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "We think TE's transportation segment exhibits strong switching costs due to automotive design cycles and an immense cost of failure, as well as intangible assets in the design of automotive connectors and sensors.",
    "output": "[Cause] automotive design cycles and an immense cost of failure, as well as intangible assets in the design of automotive connectors and sensors [Relation] cause [Effect] TE's transportation segment exhibits strong switching costs",
    "gold": "[Cause] automotive design cycles and an immense cost of failure [Relation] enable [Effect] TE's transportation segment exhibits strong switching costs",
    "valid": false,
    "tag": "substr_invalid"
  },
  {
    "input": "NXP and its analog/mixed-signal chipmaking peers tend to profit from these high switching costs by having lower ongoing R&D and capital expenditure investments than digital chipmaking leaders like Intel and Qualcomm, which helps contribute to healthy returns on capital for shareholders.",
    "output": "[Cause] NXP and its analog/mixed-signal chipmaking peers tend to profit from these high switching costs by having lower ongoing R&D and capital expenditure investments than digital chipmaking leaders like Intel and Qualcomm [Relation] enable [Effect] contribute to healthy returns on capital for shareholders",
    "gold": "[Cause] profit from these high switching costs by having lower ongoing R&D and capital expenditure investments than digital chipmaking leaders like Intel and Qualcomm [Relation] enable [Effect] healthy returns on capital for shareholders",
    "valid": false,
    "tag": "substr_invalid"
  },
  {
    "input": "In our view, cybersecurity defense and prevention complexities increase as malicious threat orchestration moves from rogue individuals to clandestine operations that could be state-sponsored.",
    "output": "[Cause] malicious threat orchestration moves from rogue individuals to clandestine operations that could be state-sponsored [Relation] cause [Effect] cybersecurity defense and prevention complexities increase",
    "gold": "[Cause] as malicious threat orchestration moves from rogue individuals to clandestine operations that could be state-sponsored. [Relation] enable [Effect] cybersecurity defense and prevention complexities increase",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "While reimbursement pressure could arise in the U.S., we see medium uncertainty around Fresenius' ongoing cash flows, given the company's essential and diverse position in the dialysis industry.",
    "output": "[Cause] the company's essential and diverse position in the dialysis industry [Relation] cause [Effect] we see medium uncertainty around Fresenius' ongoing cash flows",
    "gold": "[Cause] the company's essential and diverse position in the dialysis industry [Relation] cause [Effect] medium uncertainty around Fresenius' ongoing cash flows",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "In markets in which it holds a commanding volume share, Heineken has relationships with its customers in both the on trade and off trade that allow it to react quickly to negative competitive events.",
    "output": "[Cause] Heineken has relationships with its customers in both the on trade and off trade [Relation] enable [Effect] allow it to react quickly to negative competitive events",
    "gold": "[Cause]  it holds a commanding volume share, Heineken has relationships with its customers in both the on trade and off trade [Relation] cause [Effect] allow it to react quickly to negative competitive events",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "The Medicare for All scenario debated in the Democratic primaries called for the elimination of the private insurance industry, which would have threatened the company's insurance 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 the company's insurance operations",
    "gold": "[Cause] The Medicare for All scenario debated in the Democratic primaries called for the elimination of the private insurance industry [Relation] enable [Effect] have threatened the company's insurance operations",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "Unconstructive regulatory decisions are more likely in a period of rising electricity rates, an event that would likely occur with increasing natural gas prices and coal and nuclear plant retirements.",
    "output": "[Cause] increasing natural gas prices and coal and nuclear plant retirements [Relation] cause [Effect] Unconstructive regulatory decisions are more likely in a period of rising electricity rates",
    "gold": "[Cause] nuclear plant retirements [Relation] cause [Effect] Unconstructive regulatory decisions",
    "valid": false,
    "tag": "substr_invalid"
  },
  {
    "input": "We assume the energy storage business will grow at a 14% annualized rate over our 10-year forecast period driven by high demand for both solar panels and energy storage systems, or ESS.",
    "output": "[Cause] high demand for both solar panels and energy storage systems, or ESS [Relation] cause [Effect] the energy storage business will grow at a 14% annualized rate over our 10-year forecast period",
    "gold": "[Cause]  high demand for both solar panels and energy storage systems, or ESS [Relation] enable [Effect] We assume the energy storage business will grow at a 14% annualized rate over our 10-year forecast period driven",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "Sonic also gets about 55% of total revenue from Texas and California and cheap oil and coronavirus problems may pressure Texas auto dealers.",
    "output": "[Cause] cheap oil and coronavirus problems [Relation] cause [Effect] pressure Texas auto dealers",
    "gold": "[Cause]  cheap oil and coronavirus problems [Relation] cause [Effect] pressure",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "Also, having deeper product lines to cross-sell (with brands like Company Store offering exposure to textiles and HD Supply reaching the MRO consumer) could add incremental revenue potential.",
    "output": "[Cause] having deeper product lines to cross-sell [Relation] enable [Effect] incremental revenue potential",
    "gold": "[Cause] having deeper product lines to cross-sell (with brands like Company Store offering exposure to textiles and HD Supply reaching the MRO consumer) [Relation] enable [Effect] add incremental revenue potential",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "Additionally, Tim Hortons' vertically integrated supply chain business provides a reliable revenue source by distributing roasted coffee beans and other food products to franchisees.",
    "output": "[Cause] Tim Hortons' vertically integrated supply chain business [Relation] enable [Effect] provides a reliable revenue source by distributing roasted coffee beans and other food products to franchisees",
    "gold": "[Cause] Tim Hortons' vertically integrated supply chain business [Relation] enable [Effect] provides a reliable revenue source",
    "valid": false,
    "tag": "substr_invalid"
  },
  {
    "input": "Over our explicit forecast, we expect gross margins to improve by around 350 basis points as the company gains scale in its expansion of its 3DExperience customers and as low-gross-margin servicing revenue decreases.",
    "output": "[Cause] the company gains scale in its expansion of its 3DExperience customers and as low-gross-margin servicing revenue decreases [Relation] cause [Effect] gross margins to improve by around 350 basis points",
    "gold": "[Cause] the company gains scale in its expansion of its 3DExperience customers and as low-gross-margin servicing revenue decreases [Relation] cause [Effect] we expect gross margins to improve by around 350 basis points",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "On the expense side, we believe that Fox will continue to spend to acquire sports rights. As a result, we expect EBITDA margin to compress from 49.3% in fiscal 2020 (artificially high due to sports cancelations) to 46.0% in 2024.",
    "output": "[Cause] On the expense side, we believe that Fox will continue to spend to acquire sports rights [Relation] cause [Effect] EBITDA margin to compress from 49.3% in fiscal 2020 (artificially high due to sports cancelations) to 46.0% in 2024",
    "gold": "[Cause] Fox will continue to spend to acquire sports rights [Relation] cause [Effect]  EBITDA margin to compress from 49.3% in fiscal 2020 (artificially high due to sports cancelations) to 46.0% in 2024",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "Due to the potential growth opportunities in protecting user identities and network access in hybrid-cloud environments, we expect the identity access management space to be a highly contested market within cybersecurity.",
    "output": "[Cause] the potential growth opportunities in protecting user identities and network access in hybrid-cloud environments [Relation] cause [Effect] the identity access management space to be a highly contested market within cybersecurity",
    "gold": "[Cause] Due to the potential growth opportunities in protecting user identities and network access in hybrid-cloud environments [Relation] cause [Effect] we expect the identity access management space to be a highly contested market within cybersecurity",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "In our base-case scenario, we expect revenue to grow at a compound annual growth rate of 35% through 2025. This growth will be a result of increased usage of core products by existing customers, as well as an increase in new customers (we anticipate growth at a 24% CAGR over the next five years).",
    "output": "[Cause] increased usage of core products by existing customers, as well as an increase in new customers [Relation] cause [Effect] revenue to grow at a compound annual growth rate of 35% through 2025",
    "gold": "[Cause] increased usage of core products by existing customers, as well as an increase in new customers (we anticipate growth at a 24% CAGR over the next five years) [Relation] cause [Effect] In our base-case scenario, we expect revenue to grow at a compound annual growth rate of 35% through 2025",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "With basket sizes small and the average transaction resulting in a modest bill, we consider the segment relatively well insulated from the digital threat.",
    "output": "[Cause] basket sizes small and the average transaction resulting in a modest bill [Relation] cause [Effect] the segment relatively well insulated from the digital threat",
    "gold": "[Cause] With basket sizes small and the average transaction resulting in a modest bill [Relation] cause [Effect] we consider the segment relatively well insulated from the digital threat",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "However, if the public option steals significant share from employer-based insurance rolls, the reimbursement rates HCA receives for its services may decline substantially.",
    "output": "[Cause] the public option steals significant share from employer-based insurance rolls [Relation] cause [Effect] the reimbursement rates HCA receives for its services may decline substantially",
    "gold": "[Cause] the public option steals significant share from employer-based insurance roll [Relation] cause [Effect] the reimbursement rates HCA receives for its services may decline substantially",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "With its urological products, patents and intangibles such as relationships with practitioners prevail as the primary protection for Coloplast.",
    "output": "[Cause] its urological products [Relation] cause [Effect] patents and intangibles such as relationships with practitioners prevail as the primary protection for Coloplast",
    "gold": "[Cause] With its urological products [Relation] cause [Effect] patents and intangibles such as relationships with practitioners prevail as the primary protection for Coloplast",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "Additionally, the most likely new entrants are based in Russia and China, and the European Union does not have reciprocal acceptance of aircraft design approval with these nations, which generates frictions in the international approval process.",
    "output": "[Cause] the most likely new entrants are based in Russia and China, and the European Union does not have reciprocal acceptance of aircraft design approval with these nations [Relation] cause [Effect] frictions in the international approval process",
    "gold": "[Cause] the most likely new entrants are based in Russia and China, and the European Union does not have reciprocal acceptance of aircraft design approval with these nations [Relation] cause [Effect] generates frictions in the international approval process",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "Firmwide centers of expertise and excellence should allow BRP to manufacture more optimally, improving its utilization and allowing it to bring products to market quickly, ensuring a continually relevant and in-demand product lineup (now with electric vehicle offerings in all segments expected by 2026).",
    "output": "[Cause] Firmwide centers of expertise and excellence [Relation] enable [Effect] BRP to manufacture more optimally, improving its utilization and allowing it to bring products to market quickly, ensuring a continually relevant and in-demand product lineup (now with electric vehicle offerings in all segments expected by 2026)",
    "gold": "[Cause] Firmwide centers of expertise and excellence should allow BRP to manufacture more optimally, improving its utilization and allowing it to bring products to market quickly [Relation] enable [Effect] a continually relevant and in-demand product lineup (now with electric vehicle offerings in all segments expected by 2026)",
    "valid": false,
    "tag": "substr_invalid"
  },
  {
    "input": "This significant investment at boom-peak prices, well above long-term averages; and the subsequent dilution to returns is a key reason why we do not expect BHP to earn Other Industrial Metals & Miningreturns above the cost of capital.",
    "output": "[Cause] This significant investment at boom-peak prices, well above long-term averages; and the subsequent dilution to returns [Relation] cause [Effect] we do not expect BHP to earn Other Industrial Metals & Miningreturns above the cost of capital",
    "gold": "[Cause] the subsequent dilution to returns [Relation] cause [Effect] we do not expect BHP to earn Other Industrial Metals & Miningreturns above the cost of capital",
    "valid": false,
    "tag": "substr_invalid"
  },
  {
    "input": "CyrusOne believes cloud companies favor outsourcing data centers because they can earn higher returns on capital in their core businesses and data center companies have building efficiency expertise and a cost advantage.",
    "output": "[Cause] they can earn higher returns on capital in their core businesses and data center companies have building efficiency expertise and a cost advantage [Relation] cause [Effect] cloud companies favor outsourcing data centers",
    "gold": "[Cause]  they can earn higher returns on capital in their core businesses [Relation] enable [Effect] cloud companies favor outsourcing data centers",
    "valid": false,
    "tag": "substr_invalid"
  },
  {
    "input": "Due to a surge of sales during the pandemic, we forecast Dick's operating margin will jump to 7.8% in 2020, but we view the effect as temporary and do not anticipate margins will return to previous highs.",
    "output": "[Cause] a surge of sales during the pandemic [Relation] cause [Effect] Dick's operating margin will jump to 7.8% in 2020",
    "gold": "[Cause] o a surge of sales during the pandemic [Relation] cause [Effect] Dick's operating margin will jump to 7.8% in 2020",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "While Keurig machines can't brew espresso coffee, there are many Nespresso machines that can brew both espresso and regular drip coffee. This duality of functionality, along with an intensely competitive appliance market in general, structurally limits our confidence in Keurig's competitive positioning.",
    "output": "[Cause] While Keurig machines can't brew espresso coffee, there are many Nespresso machines that can brew both espresso and regular drip coffee [Relation] prevent [Effect] structurally limits our confidence in Keurig's competitive positioning",
    "gold": "[Cause] While Keurig machines can't brew espresso coffee, there are many Nespresso machines that can brew both espresso and regular drip coffee [Relation] cause [Effect] This duality of functionality, along with an intensely competitive appliance market in general, structurally limits our confidence in Keurig's competitive positioning",
    "valid": false,
    "tag": "substr_invalid"
  },
  {
    "input": "We also note that the hyperscale cloud vendors could penetrate the on-premises and private cloud markets, which could cause enterprises to bypass HPE's offerings.",
    "output": "[Cause] the hyperscale cloud vendors could penetrate the on-premises and private cloud markets [Relation] cause [Effect] enterprises to bypass HPE's offerings",
    "gold": "[Cause] he hyperscale cloud vendors could penetrate the on-premises and private cloud markets [Relation] cause [Effect] enterprises to bypass HPE's offerings",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "Aircraft carriers concentrate a large proportion of military force on a single platform and the United States only has 11 of these massive ships due to the immense cost of building and maintaining them.",
    "output": "[Cause] the immense cost of building and maintaining them [Relation] cause [Effect] the United States only has 11 of these massive ships",
    "gold": "[Cause] due to the immense cost of building and maintaining them. [Relation] enable [Effect] Aircraft carriers concentrate a large proportion of military force on a single platform and the United States only has 11 of these massive ships",
    "valid": false,
    "tag": "substr_invalid"
  },
  {
    "input": "We project modest growth in Twitter's user base, due to the established presence of larger social networks such as Facebook and Instagram and faster-growing ones such as Snapchat and Pinterest.",
    "output": "[Cause] the established presence of larger social networks such as Facebook and Instagram and faster-growing ones such as Snapchat and Pinterest [Relation] cause [Effect] modest growth in Twitter's user base",
    "gold": "[Cause] Facebook and Instagram and faster-growing ones such as Snapchat and Pinterest [Relation] cause [Effect]  project modest growth in Twitter's user base",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "Expeditors' customer base of thousands of shippers creates significant buying power. As a result, it can usually procure air and ocean capacity more efficiently and at lower rates than small and midsize shippers can secure on their own (directly with carriers).",
    "output": "[Cause] Expeditors' customer base of thousands of shippers creates significant buying power [Relation] cause [Effect] procure air and ocean capacity more efficiently and at lower rates than small and midsize shippers can secure on their own (directly with carriers)",
    "gold": "[Cause] Expeditors' customer base of thousands of shippers creates significant buying power [Relation] cause [Effect] it can usually procure air and ocean capacity more efficiently and at lower rates than small and midsize shippers can secure on their own (directly with carriers)",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "Our thoughts are that disaggregation may not become a widespread threat due to the optimization of purchasing paired software and hardware together, and that Cisco is adopting this trend to cover itself in case of a widespread industry shift.",
    "output": "[Cause] the optimization of purchasing paired software and hardware together [Relation] cause [Effect] disaggregation may not become a widespread threat",
    "gold": "[Cause]  the optimization of purchasing paired software and hardware together [Relation] cause [Effect] that disaggregation may not become a widespread threat",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "Waste Management's predictable recurring revenue streams and its strong competitive positioning allow the firm to generate strong and stable free cash flow.",
    "output": "[Cause] Waste Management's predictable recurring revenue streams and its strong competitive positioning [Relation] enable [Effect] the firm to generate strong and stable free cash flow",
    "gold": "[Cause] Waste Management's predictable recurring revenue streams and its strong competitive positioning [Relation] enable [Effect] generate strong and stable free cash flow",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "The company has added new products and features to the suite through organic development and bolt-on acquisitions to drive the most comprehensive portfolio of tools used in print, digital, and video content creation.",
    "output": "[Cause] The company has added new products and features to the suite through organic development and bolt-on acquisitions [Relation] enable [Effect] drive the most comprehensive portfolio of tools used in print, digital, and video content creation",
    "gold": "[Cause] The company has added new products and features to the suite through organic development and bolt-on acquisitions [Relation] cause [Effect] the most comprehensive portfolio of tools used in print, digital, and video content creation",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "As Micron operates in the highly competitive and cyclical memory space, we believe its long-term profitability will be somewhat volatile, though recent consolidation has helped mitigate the sharp swings Micron and its peers have experienced historically.",
    "output": "[Cause] Micron operates in the highly competitive and cyclical memory space [Relation] cause [Effect] its long-term profitability will be somewhat volatile",
    "gold": "[Cause] Micron operates in the highly competitive and cyclical memory space [Relation] cause [Effect] its long-term profitability will be somewhat volatile, though recent consolidation has helped mitigate the sharp swings Micron and its peers have experienced historically",
    "valid": false,
    "tag": "substr_invalid"
  },
  {
    "input": "We estimate consolidated operating margins will average 4.3% for the next few years as we expect the COVID-19 pandemic to pressure margins on the front end--ultimately picking up in 2021 and 2022.",
    "output": "[Cause] the COVID-19 pandemic to pressure margins on the front end--ultimately picking up in 2021 and 2022 [Relation] cause [Effect] consolidated operating margins will average 4.3% for the next few years",
    "gold": "[Cause] we expect the COVID-19 pandemic to pressure margins on the front end--ultimately picking up in 2021 and 2022 [Relation] cause [Effect] operating margins will average 4.3% for the next few years",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "Existing regulations prevent foreign competition, as non-Canadian residents may not own more than 25% of the shares of a bank unless approved by the government (preventing foreign takeover), and foreign banks can only operate in Canada under certain restrictions (preventing significant direct foreign competition).",
    "output": "[Cause] non-Canadian residents may not own more than 25% of the shares of a bank unless approved by the government [Relation] cause [Effect] Existing regulations prevent foreign competition",
    "gold": "[Cause] non-Canadian residents may not own more than 25% of the shares of a bank unless approved by the government (preventing foreign takeover), and foreign banks can only operate in Canada under certain restrictions (preventing significant direct foreign competition) [Relation] cause [Effect] Existing regulations prevent foreign competition",
    "valid": false,
    "tag": "substr_invalid"
  },
  {
    "input": "In the retail business, we expect mid-single-digit profit growth on average through 2020, as the company expands store count though small acquisitions and sells a greater proportion of proprietary and private-label products, which carry higher margins.",
    "output": "[Cause] the company expands store count though small acquisitions and sells a greater proportion of proprietary and private-label products [Relation] cause [Effect] mid-single-digit profit growth on average through 2020",
    "gold": "[Cause] the company expands store count though small acquisitions and sells a greater proportion of proprietary and private-label products, which carry higher margins [Relation] cause [Effect] we expect mid-single-digit profit growth on average through 2020",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "We expect the firm to maintain its market-leading position as it generates competitive organic growth, continues to make acquisitions, and increases focus on the faster-growing emerging and the overall digital ad markets.",
    "output": "[Cause] it generates competitive organic growth, continues to make acquisitions, and increases focus on the faster-growing emerging and the overall digital ad markets [Relation] enable [Effect] the firm to maintain its market-leading position",
    "gold": "[Cause]  it generates competitive organic growth, continues to make acquisitions, and increases focus on the faster-growing emerging and the overall digital ad markets [Relation] cause [Effect] We expect the firm to maintain its market-leading position",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "From a macro perspective, as global economic growth slows, exacerbated as a result of the spreading coronavirus, capturing the same allocation of discretionary dollars as in the past will likely be more difficult than in prior periods.",
    "output": "[Cause] global economic growth slows, exacerbated as a result of the spreading coronavirus [Relation] cause [Effect] capturing the same allocation of discretionary dollars as in the past will likely be more difficult than in prior periods",
    "gold": "[Cause] global economic growth slows [Relation] prevent [Effect] capturing the same allocation of discretionary dollars as in the past will likely be more difficult than in prior periods",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "The company experienced operating leverage and improved product mix in its defense business in recent years, which we think has structurally improved the company's margin profile.",
    "output": "[Cause] The company experienced operating leverage and improved product mix in its defense business in recent years [Relation] enable [Effect] structurally improved the company's margin profile",
    "gold": "[Cause] The company experienced operating leverage and improved product mix in its defense business in recent years [Relation] cause [Effect] improved the company's margin profile",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "In fact, a streamlined menu emphasizing fewer but more impactful products, daypart expansion (including a revamped coffee/breakfast platform, increased snacking items, and plant-based products like the Impossible Whopper), revamped value platform, and remodeled restaurants have reinvigorated the Burger King brand in recent years, driving improved franchise-level returns.",
    "output": "[Cause] daypart expansion [Relation] enable [Effect] reinvigorated the Burger King brand in recent years",
    "gold": "[Cause] a streamlined menu emphasizing fewer but more impactful products, daypart expansion (including a revamped coffee/breakfast platform, increased snacking items, and plant-based products like the Impossible Whopper), revamped value platform, and remodeled restaurants [Relation] cause [Effect]  reinvigorated the Burger King brand in recent years, driving improved franchise-level returns",
    "valid": false,
    "tag": "substr_invalid"
  },
  {
    "input": "Although a lower absolute figure than previous plans, this spending has become more productive as efficiency gains in the pre salt reservoirs shortened well construction times and reduced the number of wells needed to fill FPSO capacity.",
    "output": "[Cause] efficiency gains in the pre salt reservoirs shortened well construction times and reduced the number of wells needed to fill FPSO capacity [Relation] cause [Effect] this spending has become more productive",
    "gold": "[Cause] efficiency gains in the pre salt reservoirs shortened well construction times and reduced the number of wells needed to fill FPSO capacity [Relation] cause [Effect] spending has become more productive",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "Further, we posit the firm maintains a consistent long-term track record, which should ensure gross margins won't falter (after dipping to just 57% in fiscal 2011, significantly below its prior aim for gross margins in excess of 60%).",
    "output": "[Cause] the firm maintains a consistent long-term track record [Relation] enable [Effect] ensure gross margins won't falter",
    "gold": "[Cause]  we posit the firm maintains a consistent long-term track record [Relation] enable [Effect]  ensure gross margins won't falter",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "On a normalized basis excluding winter storm benefits, recontracting legacy assets will be a drag on earnings in 2021, in particular offsetting some of the growth in the natural gas pipeline segment.",
    "output": "[Cause] recontracting legacy assets [Relation] prevent [Effect] earnings in 2021",
    "gold": "[Cause] recontracting legacy assets [Relation] cause [Effect] a drag on earnings in 2021, in particular offsetting some of the growth in the natural gas pipeline segment",
    "valid": false,
    "tag": "substr_invalid"
  },
  {
    "input": "Monolithic Power's switching costs are magnified when one considers the small portion of an end product's overall cost made up by Monolithic's chips.",
    "output": "[Cause] the small portion of an end product's overall cost made up by Monolithic's chips [Relation] cause [Effect] Monolithic Power's switching costs are magnified",
    "gold": "[Cause] one considers the small portion of an end product's overall cost made up by Monolithic's chips [Relation] cause [Effect] Monolithic Power's switching costs are magnified",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "Lennox competes with well-established and capable competitors (Carrier, Trane Technologies, and Johnson Controls), and it must stay on the cutting edge of technology to meet future environmental and energy efficiency standards, win future bids, and maintain its brand image and dealer relationships.",
    "output": "[Cause] stay on the cutting edge of technology [Relation] enable [Effect] meet future environmental and energy efficiency standards, win future bids, and maintain its brand image and dealer relationships",
    "gold": "[Cause] it must stay on the cutting edge of technology [Relation] cause [Effect]  meet future environmental and energy efficiency standards, win future bids, and maintain its brand image and dealer relationships",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "We believe HD Supply's technological capabilities, including its e-commerce sales channel, integrated customer workflow solutions, and warehouse automation, drive distribution efficiencies that would be difficult for smaller competitors to replicate.",
    "output": "[Cause] HD Supply's technological capabilities, including its e-commerce sales channel, integrated customer workflow solutions, and warehouse automation [Relation] enable [Effect] distribution efficiencies",
    "gold": "[Cause] HD Supply's technological capabilities, including its e-commerce sales channel, integrated customer workflow solutions, and warehouse automation [Relation] cause [Effect] drive distribution efficiencies",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "We still think earnings per share can average 6% annual growth at its utilities during the next four years if Eversource executes its investment plan and receives regulatory support.",
    "output": "[Cause] Eversource executes its investment plan and receives regulatory support [Relation] enable [Effect] earnings per share can average 6% annual growth at its utilities during the next four years",
    "gold": "[Cause]  if Eversource executes its investment plan and receives regulatory support. [Relation] enable [Effect] earnings per share can average 6% annual growth at its utilities during the next four years",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "Nevertheless, given that TE's products are more basic--and thus far more removed from the national security spotlight--than semiconductors, and that it's domiciled in neutral Switzerland, we think the risk of tariffs or trade restrictions is muted.",
    "output": "[Cause] TE's products are more basic [Relation] cause [Effect] far more removed from the national security spotlight",
    "gold": "[Cause] TE's products are more basic [Relation] cause [Effect] far more removed from the national security spotlight--than semiconductors",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "We expect ASML to see material benefits from sales of its EUV lithography tools for its foundry customers' 5-nanometer process nodes.",
    "output": "[Cause] sales of its EUV lithography tools for its foundry customers' 5-nanometer process nodes [Relation] enable [Effect] ASML to see material benefits",
    "gold": "[Cause]  its EUV lithography tools for its foundry customers' 5-nanometer process nodes [Relation] enable [Effect] ASML to see material benefits from sales",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "Changing identity access providers can be terribly disruptive to security and networking teams, and we believe that Okta's approach to identity access management and user-based cybersecurity, including its expanding network of customers and applications, provide it with a sustainable market presence.",
    "output": "[Cause] Changing identity access providers [Relation] cause [Effect] disruptive to security and networking teams",
    "gold": "[Cause] Changing identity access providers [Relation] cause [Effect]  terribly disruptive to security and networking teams",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "Given the wide spread between the cost of trucking water (from $7 to $8 a barrel) versus pipelines ($2 to $3 per barrel), we believe there's potential for some attractive investment opportunities.",
    "output": "[Cause] the wide spread between the cost of trucking water (from $7 to $8 a barrel) versus pipelines ($2 to $3 per barrel) [Relation] cause [Effect] there's potential for some attractive investment opportunities",
    "gold": "[Cause] Given the wide spread between the cost of trucking water (from $7 to $8 a barrel) versus pipelines ($2 to $3 per barrel) [Relation] enable [Effect] we believe there's potential for some attractive investment opportunities",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "A building block on top of the Super Network, the Programmable Communications Cloud enables developers to embed voice, text, email, video, and other functionalities into business applications via easy-to-use APIs.",
    "output": "[Cause] the Programmable Communications Cloud [Relation] enable [Effect] developers to embed voice, text, email, video, and other functionalities into business applications via easy-to-use APIs",
    "gold": "[Cause] A building block on top of the Super Network, the Programmable Communications Cloud [Relation] enable [Effect] developers to embed voice, text, email, video, and other functionalities into business applications via easy-to-use APIs",
    "valid": false,
    "tag": "substr_invalid"
  },
  {
    "input": "As a result, Chubb and peers are experiencing a positive trend in underlying underwrting profitabiltiy, and we see potential for a truly hard pricing market.",
    "output": "[Cause] Chubb and peers are experiencing a positive trend in underlying underwrting profitabiltiy [Relation] cause [Effect] potential for a truly hard pricing market",
    "gold": "[Cause] Chubb and peers are experiencing a positive trend in underlying underwrting profitabiltiy [Relation] cause [Effect] we see potential for a truly hard pricing market",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "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] cause [Effect] We believe NICE benefits from switching costs on this front",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "The private label credit card market currently sees limited participation from major credit card issuers, with the notable exception of Citi, limiting the amount of competitive pressure that Alliance Data Systems has historically faced.",
    "output": "[Cause] The private label credit card market currently sees limited participation from major credit card issuers, with the notable exception of Citi [Relation] prevent [Effect] the amount of competitive pressure that Alliance Data Systems has historically faced",
    "gold": "[Cause] limited participation from major credit card issuers [Relation] prevent [Effect] limiting the amount of competitive pressure that Alliance Data Systems has historically faced",
    "valid": false,
    "tag": "substr_invalid"
  },
  {
    "input": "Regulation changes stipulating that all protein providers need to maintain minimum levels of quality (as measured by both 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 both consistency and bioactivity) [Relation] cause [Effect] customers being more trusting of lower priced protein providers",
    "gold": "[Cause]  protein providers need to maintain minimum levels of quality [Relation] cause [Effect] customers being more trusting of lower priced protein providers",
    "valid": false,
    "tag": "substr_invalid"
  },
  {
    "input": "Following a strong rebound of J&J's device business from the COVID-19 headwinds in early/mid 2020 as well as an increasingly well-positioned drug pipeline, we are increasing our fair value estimate to $147 from $141.",
    "output": "[Cause] Following a strong rebound of J&J's device business from the COVID-19 headwinds in early/mid 2020 as well as an increasingly well-positioned drug pipeline [Relation] cause [Effect] we are increasing our fair value estimate to $147 from $141",
    "gold": "[Cause] a strong rebound of J&J's device business from the COVID-19 headwinds in early/mid 2020 as well as an increasingly well-positioned drug pipeline [Relation] cause [Effect] we are increasing our fair value estimate to $147 from $141",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "Cigarette manufacturing is a scalable business model because of the homogeneity of the product, and there is an inverse correlation between volume and average operating cost per unit.",
    "output": "[Cause] the homogeneity of the product [Relation] cause [Effect] Cigarette manufacturing is a scalable business model",
    "gold": "[Cause] the homogeneity of the product, and there is an inverse correlation between volume and average operating cost per unit [Relation] enable [Effect] Cigarette manufacturing is a scalable business model",
    "valid": false,
    "tag": "substr_invalid"
  },
  {
    "input": "However, based on new user attraction/retention trends and off-platform payment growth, we believe 48% average annual top-line growth over the next five years is possible, with payments and other financial technology revenue outpacing marketplace revenue.",
    "output": "[Cause] new user attraction/retention trends and off-platform payment growth [Relation] cause [Effect] 48% average annual top-line growth over the next five years is possible, with payments and other financial technology revenue outpacing marketplace revenue",
    "gold": "[Cause]  based on new user attraction/retention trends and off-platform payment growth [Relation] enable [Effect] 48% average annual top-line growth over the next five years is possible",
    "valid": false,
    "tag": "substr_invalid"
  },
  {
    "input": "We believe Airbus's market position stems from the intangible assets and switching costs that Airbus and its predecessor companies constructed over decades of supplying aircraft and weapons to European and international governments.",
    "output": "[Cause] the intangible assets and switching costs that Airbus and its predecessor companies constructed over decades of supplying aircraft and weapons to European and international governments [Relation] cause [Effect] Airbus's market position",
    "gold": "[Cause] the intangible assets and switching costs that Airbus and its predecessor companies constructed over decades of supplying aircraft and weapons to European and international governments [Relation] cause [Effect]  Airbus's market position stems",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "By providing a quick way to check basic health factors while the person is already at a CVS retail store, the company aims to identify gaps in care, introduce therapies, and prevent patients from needing a more intensive and likely more costly intervention at an acute hospital.",
    "output": "[Cause] providing a quick way to check basic health factors while the person is already at a CVS retail store [Relation] enable [Effect] the company aims to identify gaps in care, introduce therapies, and prevent patients from needing a more intensive and likely more costly intervention at an acute hospital",
    "gold": "[Cause]  providing a quick way to check basic health factors [Relation] enable [Effect] the company aims to identify gaps in care, introduce therapies, and prevent patients from needing a more intensive and likely more costly intervention at an acute hospital",
    "valid": false,
    "tag": "substr_invalid"
  },
  {
    "input": "We believe that technical complexity makes this business difficult to replicate, and the high cost of failure ensures that contractors are likely to continue purchasing from incumbents.",
    "output": "[Cause] technical complexity [Relation] cause [Effect] this business difficult to replicate",
    "gold": "[Cause]  technical complexity [Relation] prevent [Effect] business difficult to replicate",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "We are raising our fair value estimate to $500 per share from $365 as we incorporate a stronger outlook for EUV adoption and update our EUR to USD exchange rate.",
    "output": "[Cause] we incorporate a stronger outlook for EUV adoption and update our EUR to USD exchange rate [Relation] cause [Effect] We are raising our fair value estimate to $500 per share from $365",
    "gold": "[Cause] incorporate a stronger outlook for EUV adoption and update our EUR to USD exchange rate [Relation] cause [Effect] raising our fair value estimate to $500 per share from $365",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "We model that gross margins will stay in the mid- to high-30% range as Nokia balances higher margin software with higher costing equipment.",
    "output": "[Cause] Nokia balances higher margin software with higher costing equipment [Relation] cause [Effect] gross margins will stay in the mid- to high-30% range",
    "gold": "[Cause] Nokia balances higher margin software with higher costing equipment [Relation] cause [Effect] We model that gross margins will stay in the mid- to high-30% range",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "We expect a high 70% decline in 2020 industry gaming revenue in Macao (mid-50% decline prior), as quarantine restrictions have remained in place longer than previously expected.",
    "output": "[Cause] quarantine restrictions have remained in place longer than previously expected [Relation] cause [Effect] a high 70% decline in 2020 industry gaming revenue in Macao (mid-50% decline prior)",
    "gold": "[Cause] quarantine restrictions have remained in place longer [Relation] cause [Effect]  a high 70% decline in 2020 industry gaming revenue in Macao",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "Further, the firm's acquisitive nature could be problematic if acquisition candidates are not available, if it has trouble digesting a tie-up, or if it pays an excessive premium for a target.",
    "output": "[Cause] acquisition candidates are not available, if it has trouble digesting a tie-up, or if it pays an excessive premium for a target [Relation] cause [Effect] the firm's acquisitive nature could be problematic",
    "gold": "[Cause] if acquisition candidates are not available, if it has trouble digesting a tie-up, or if it pays an excessive premium for a target [Relation] cause [Effect] the firm's acquisitive nature could be problematic",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "We like Santander's focus on retail and commercial banking, with the investment bank concentrating on the areas where Santander's presence, local balance sheet, and local expertise and relationships allow it to compete with the global bulge bracket investment banks.",
    "output": "[Cause] Santander's focus on retail and commercial banking, with the investment bank concentrating on the areas where Santander's presence, local balance sheet, and local expertise and relationships [Relation] enable [Effect] it to compete with the global bulge bracket investment banks",
    "gold": "[Cause]  Santander's focus on retail and commercial banking, with the investment bank concentrating on the areas where Santander's presence, local balance sheet, and local expertise and relationships [Relation] enable [Effect] allow it to compete with the global bulge bracket investment banks",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "The agent prevents known malware, uses machine learning and behavior algorithms to mitigate unknown threats, and sits below the operating system to provide firmware attack detection.",
    "output": "[Cause] The agent prevents known malware [Relation] cause [Effect] uses machine learning and behavior algorithms to mitigate unknown threats",
    "gold": "[Cause] The agent prevents known malware, uses machine learning and behavior algorithms [Relation] enable [Effect] mitigate unknown threats",
    "valid": false,
    "tag": "substr_invalid"
  },
  {
    "input": "The agent prevents known malware, uses machine learning and behavior algorithms to mitigate unknown threats, and sits below the operating system to provide firmware attack detection.",
    "output": "[Cause] sits below the operating system [Relation] enable [Effect] firmware attack detection",
    "gold": "[Cause] sits below the operating system [Relation] enable [Effect] provide firmware attack detection",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "Wildfire risks have become a major concern for all California utilities, but we think Edison's exposure to worst-case scenarios is far smaller than its northern neighbor, PG&E, because it serves an area of the state with less fire risk.",
    "output": "[Cause] it serves an area of the state with less fire risk [Relation] cause [Effect] Edison's exposure to worst-case scenarios is far smaller than its northern neighbor, PG&E",
    "gold": "[Cause] it serves an area of the state with less fire risk [Relation] cause [Effect]  Edison's exposure to worst-case scenarios is far smaller than its northern neighbor, PG&E, because it serves an area of the state with less fire risk",
    "valid": false,
    "tag": "substr_invalid"
  },
  {
    "input": "Looking ahead, we expect lower price might become the only differentiator among the players in this space, giving more leverage to companies that have access to more capital and that are benefiting more from brand awareness, such as Uber.",
    "output": "[Cause] lower price might become the only differentiator among the players in this space [Relation] enable [Effect] more leverage to companies that have access to more capital and that are benefiting more from brand awareness, such as Uber",
    "gold": "[Cause]  lower price [Relation] enable [Effect] more leverage to companies that have access to more capital and that are benefiting more from brand awareness, such as Uber",
    "valid": false,
    "tag": "substr_invalid"
  },
  {
    "input": "We also contend that Hershey maintains a cost edge, which should ensure it can fund investments to support its leading brand mix and retail relationships to a greater extent than new entrants with limited budgets, ultimately creating a barrier to entry.",
    "output": "[Cause] Hershey maintains a cost edge [Relation] cause [Effect] it can fund investments to support its leading brand mix and retail relationships to a greater extent than new entrants with limited budgets, ultimately creating a barrier to entry",
    "gold": "[Cause] maintains a cost edge [Relation] cause [Effect] ultimately creating a barrier to entry",
    "valid": false,
    "tag": "substr_invalid"
  },
  {
    "input": "Its extensive international shipping network is extraordinarily difficult and costly to duplicate and domestic/international e-commerce tailwinds should remain favorable for years to come (outside a major recession).",
    "output": "[Cause] Its extensive international shipping network is extraordinarily difficult and costly to duplicate [Relation] cause [Effect] domestic/international e-commerce tailwinds should remain favorable for years to come (outside a major recession)",
    "gold": "[Cause] extensive international shipping network [Relation] enable [Effect] domestic/international e-commerce tailwinds should remain favorable",
    "valid": false,
    "tag": "substr_invalid"
  },
  {
    "input": "To address potential petroleum product demand destruction, reduce carbon intensity and reinvest in growth, Valero has moved into the renewables segment via its 50% ownership of Diamond Green Diesel, or DGD.",
    "output": "[Cause] address potential petroleum product demand destruction, reduce carbon intensity and reinvest in growth [Relation] cause [Effect] Valero has moved into the renewables segment via its 50% ownership of Diamond Green Diesel, or DGD",
    "gold": "[Cause] address potential petroleum product demand destruction, reduce carbon intensity and reinvest in growth [Relation] cause [Effect] Valero has moved into the renewables segment",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "Fifth Third is large enough to be subject to the Fed's stress tests because it has more than $100 billion in assets, but it only has to go through the full process every two years.",
    "output": "[Cause] it has more than $100 billion in assets [Relation] cause [Effect] Fifth Third is large enough to be subject to the Fed's stress tests",
    "gold": "[Cause]  it has more than $100 billion in assets [Relation] cause [Effect] subject to the Fed's stress tests",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "Credit cards carry inherit product risk as they can trap consumers in a cycle of continuously paying high interest rates as they struggle to reduce the principal.",
    "output": "[Cause] they can trap consumers in a cycle of continuously paying high interest rates as they struggle to reduce the principal [Relation] cause [Effect] Credit cards carry inherit product risk",
    "gold": "[Cause] as they can trap consumers in a cycle of continuously paying high interest rates as they struggle to reduce the principal [Relation] cause [Effect] Credit cards carry inherit product risk",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "Cost savings is expected to be generated from digitalisation, resulting in automation, a decline in headcount from operations and technology, and a reduced office footprint.",
    "output": "[Cause] Cost savings is expected to be generated from digitalisation [Relation] cause [Effect] automation, a decline in headcount from operations and technology, and a reduced office footprint",
    "gold": "[Cause] Cost savings is expected to be generated from digitalisation [Relation] enable [Effect] resulting in automation, a decline in headcount from operations and technology, and a reduced office footprint",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "Along with its expected synergies between Vanadis and Euroimmun, we expect additional revenue streams to unfold as the firm expands its positioning in infectious diseases and liquid handling and extraction.",
    "output": "[Cause] the firm expands its positioning in infectious diseases and liquid handling and extraction [Relation] cause [Effect] additional revenue streams to unfold",
    "gold": "[Cause] the firm expands its positioning in infectious diseases and liquid handling and extraction [Relation] cause [Effect]  additional revenue streams",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "With the landscape rife with private entities, there is a dearth of readily available information for most of these companies.",
    "output": "[Cause] the landscape rife with private entities [Relation] cause [Effect] there is a dearth of readily available information for most of these companies",
    "gold": "[Cause] the landscape rife with private entities [Relation] cause [Effect] a dearth of readily available information for most of these companies",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "Surf Gate, which allows wake surfers to customize the shape of the boat's wake, has become so popular that even competitors such as Marine Product's Chaparral line license the technology for use in its boats.",
    "output": "[Cause] Surf Gate, which allows wake surfers to customize the shape of the boat's wake [Relation] cause [Effect] even competitors such as Marine Product's Chaparral line license the technology for use in its boats",
    "gold": "[Cause] Surf Gate, which allows wake surfers to customize the shape of the boat's wake, has become so popular [Relation] cause [Effect] competitors such as Marine Product's Chaparral line license the technology for use in its boats",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "Given that hydrocarbons require investment in existing and new fields to maintain global supply, we have a greater level of confidence in what Exxon's returns will be a decade from now as opposed to firms that are investing in lower-return, highly competitive areas such as renewable power generation.",
    "output": "[Cause] hydrocarbons require investment in existing and new fields to maintain global supply [Relation] cause [Effect] we have a greater level of confidence in what Exxon's returns will be a decade from now as opposed to firms that are investing in lower-return, highly competitive areas such as renewable power generation",
    "gold": "[Cause] hydrocarbons require investment in existing and new fields to maintain global supply [Relation] enable [Effect] we have a greater level of confidence in what Exxon's returns will be a decade from now as opposed to firms that are investing in lower-return",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "In addition, if Groupon were to target more national merchants and increase the number and types of products it sells directly to consumers, it would go head-to-head against Amazon, versus whom Groupon does not and will not have any competitive advantages, either on price or distribution.",
    "output": "[Cause] Groupon were to target more national merchants and increase the number and types of products it sells directly to consumers [Relation] cause [Effect] it would go head-to-head against Amazon, versus whom Groupon does not and will not have any competitive advantages, either on price or distribution",
    "gold": "[Cause] Groupon were to target more national merchants and increase the number and types of products it sells directly to consumers [Relation] cause [Effect]  it would go head-to-head against Amazon",
    "valid": false,
    "tag": "substr_invalid"
  },
  {
    "input": "Shorter hauls also offer drivers a higher quality of life (less time away from home), thus enhancing retention--a critical factor given the severely constrained driver pool.",
    "output": "[Cause] Shorter hauls also offer drivers a higher quality of life (less time away from home) [Relation] enable [Effect] enhancing retention",
    "gold": "[Cause] Shorter hauls [Relation] enable [Effect] enhancing retention",
    "valid": false,
    "tag": "substr_invalid"
  },
  {
    "input": "Rockwell has long touted the process automation opportunity, but we agree with most market observers who argue that Rockwell lacks the reputation it has in its discrete manufacturing offering given slower growth in the process space (and from a smaller sales base, to boot).",
    "output": "[Cause] given slower growth in the process space (and from a smaller sales base, to boot) [Relation] cause [Effect] Rockwell lacks the reputation it has in its discrete manufacturing offering",
    "gold": "[Cause] slower growth in the process space (and from a smaller sales base, to boot) [Relation] cause [Effect] Rockwell lacks the reputation it has in its discrete manufacturing offering",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "We have seen Google partake in this on the back of its Android mobile operating system's growing market share, helping it drive revenue growth and maintain its leadership in the space.",
    "output": "[Cause] Google partake in this on the back of its Android mobile operating system's growing market share [Relation] enable [Effect] driving revenue growth and maintain its leadership in the space",
    "gold": "[Cause]  Google partake in this [Relation] enable [Effect] revenue growth and maintain its leadership in the space",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "In an attempt to alleviate competitiveness in the consumer market, the company offers Norton and LifeLock bundled together as a complete solution for cybersecurity and identity protection.",
    "output": "[Cause] Norton and LifeLock bundled together as a complete solution for cybersecurity and identity protection [Relation] enable [Effect] alleviate competitiveness in the consumer market",
    "gold": "[Cause] offers Norton and LifeLock bundled together as a complete solution for cybersecurity and identity protection [Relation] enable [Effect] alleviate competitiveness in the consumer market",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "Fee income should see support from higher assets under management, recovery in credit card fees as travel resumes and the deal pipeline for the investment bank also looks good, which supports higher fees.",
    "output": "[Cause] travel resumes and the deal pipeline for the investment bank also looks good [Relation] enable [Effect] supports higher fees",
    "gold": "[Cause] see support from higher assets under management, recovery in credit card fees as travel resumes and the deal pipeline for the investment bank also looks good [Relation] cause [Effect] supports higher fees",
    "valid": false,
    "tag": "substr_invalid"
  },
  {
    "input": "In so doing, it started to benefit from economies of scale that contributed to lower unit production costs and widened the company's margins.",
    "output": "[Cause] economies of scale [Relation] enable [Effect] lower unit production costs and widened the company's margins",
    "gold": "[Cause] benefit from economies of scale [Relation] enable [Effect] lower unit production costs and widened the company's margins",
    "valid": false,
    "tag": "substr_invalid"
  },
  {
    "input": "That said, there is a chance for additional downside risk if China pulls back fixed asset investment even more than our expectations.",
    "output": "[Cause] China pulls back fixed asset investment even more than our expectations [Relation] cause [Effect] there is a chance for additional downside risk",
    "gold": "[Cause] China pulls back fixed asset investment even more than our expectations [Relation] cause [Effect]  additional downside risk",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "We model 17% average annual sales growth over the next five years, driven by international growth of Naglazyme, continuing market penetration for Vimizim and Brineura, the new launch of Palynziq, and potential launches of vosoritide and Roctavian.",
    "output": "[Cause] international growth of Naglazyme, continuing market penetration for Vimizim and Brineura, the new launch of Palynziq, and potential launches of vosoritide and Roctavian [Relation] cause [Effect] We model 17% average annual sales growth over the next five years",
    "gold": "[Cause] international growth of Naglazyme, continuing market penetration for Vimizim and Brineura, the new launch of Palynziq, and potential launches of vosoritide and Roctavian [Relation] enable [Effect]  17% average annual sales growth over the next five years",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "Our forecast is based on the business as currently constituted, but we expect the firm will continue acquiring smaller companies to drive security growth.",
    "output": "[Cause] the firm will continue acquiring smaller companies [Relation] enable [Effect] drive security growth",
    "gold": "[Cause]  the firm will continue acquiring smaller companies [Relation] enable [Effect] security growth",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "This gap in gross margin helps SiriusXM segment to generate operating margins in mid 30s versus negative operating margins for Spotify and Pandora and generate ROICs well above its cost of capital.",
    "output": "[Cause] This gap in gross margin [Relation] enable [Effect] SiriusXM segment to generate operating margins in mid 30s versus negative operating margins for Spotify and Pandora and generate ROICs well above its cost of capital",
    "gold": "[Cause] This gap in gross margin [Relation] enable [Effect] SiriusXM segment to generate operating margins in mid 30s",
    "valid": false,
    "tag": "substr_invalid"
  },
  {
    "input": "Over the five-year period since 2014, management has increasingly employed acquisitions as part of its capital allocation program, which makes it difficult to separate the horse from the jockey when analyzing ROIC data.",
    "output": "[Cause] management has increasingly employed acquisitions as part of its capital allocation program [Relation] cause [Effect] difficult to separate the horse from the jockey when analyzing ROIC data",
    "gold": "[Cause] Over the five-year period since 2014, management has increasingly employed acquisitions as part of its capital allocation program [Relation] cause [Effect] makes it difficult to separate the horse from the jockey when analyzing ROIC data",
    "valid": false,
    "tag": "substr_invalid"
  },
  {
    "input": "Paylocity focuses on providing payroll solutions for companies with 20-1,000 employees and hearty growth in the company's customer base has allowed Paylocity to generate healthy revenue growth.",
    "output": "[Cause] Paylocity focuses on providing payroll solutions for companies with 20-1,000 employees and hearty growth in the company's customer base [Relation] enable [Effect] Paylocity to generate healthy revenue growth",
    "gold": "[Cause] hearty growth in the company's customer base [Relation] enable [Effect] Paylocity to generate healthy revenue growth",
    "valid": false,
    "tag": "substr_invalid"
  },
  {
    "input": "We believe Windows has very slowly been bleeding market share with the rise of Apple and the introduction of some alternative PC operating systems.",
    "output": "[Cause] the rise of Apple and the introduction of some alternative PC operating systems [Relation] cause [Effect] Windows has very slowly been bleeding market share",
    "gold": "[Cause]  the rise of Apple and the introduction of some alternative PC operating systems [Relation] enable [Effect] Windows has very slowly been bleeding market share with",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "As part of this, we raised our near-term revenue forecasts on continued freight-demand strength and reduced our model's implied Stage II investment rate given Hunt's for-hire truckload operations are becoming more asset-light.",
    "output": "[Cause] Hunt's for-hire truckload operations are becoming more asset-light [Relation] cause [Effect] we raised our near-term revenue forecasts on continued freight-demand strength and reduced our model's implied Stage II investment rate",
    "gold": "[Cause]  Hunt's for-hire truckload operations are becoming more asset-light [Relation] enable [Effect] we raised our near-term revenue forecasts on continued freight-demand strength | reduced our model's implied Stage II investment rate",
    "valid": false,
    "tag": "substr_invalid"
  },
  {
    "input": "The robust app store helped foster iPhone adoption and grow Apple's user base, with applications ranging from productivity, social media, gaming, music, and so on.",
    "output": "[Cause] The robust app store [Relation] enable [Effect] foster iPhone adoption and grow Apple's user base",
    "gold": "[Cause] robust app store [Relation] enable [Effect] iPhone adoption and grow Apple's user base",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "We believe in-store services and part availability are barriers to DIY disruption, but a large consumer shift to digital sellers (like Amazon) could inject low-cost competition.",
    "output": "[Cause] a large consumer shift to digital sellers (like Amazon) [Relation] enable [Effect] inject low-cost competition",
    "gold": "[Cause] a large consumer shift to digital sellers [Relation] cause [Effect]  inject low-cost competition",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "For Spinraza (nusinersen), we assume sales begin to decline in 2020 as new patients and treated Spinraza patients could opt for either competing gene therapy (Novartis' Zolgensma) or small-molecule therapy (Roche/PTC's Evrysdi), and as fewer patients initiate therapy (the first year of therapy is twice as expensive).",
    "output": "[Cause] new patients and treated Spinraza patients could opt for either competing gene therapy (Novartis' Zolgensma) or small-molecule therapy (Roche/PTC's Evrysdi) [Relation] cause [Effect] sales begin to decline in 2020",
    "gold": "[Cause]  new patients and treated Spinraza patients could opt for either competing gene therapy [Relation] cause [Effect]  we assume sales begin to decline in 2020",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "FMC has 10 new crop chemical molecules (the active ingredient) under development, including multiple new modes of action. These new products should be particularly effective against insects, weeds, and fungi that have grown resistant to traditional crop chemicals.",
    "output": "[Cause] FMC has 10 new crop chemical molecules (the active ingredient) under development, including multiple new modes of action [Relation] enable [Effect] be particularly effective against insects, weeds, and fungi that have grown resistant to traditional crop chemicals",
    "gold": "[Cause] FMC has 10 new crop chemical molecules (the active ingredient) under development, including multiple new modes of action [Relation] enable [Effect] These new products should be particularly effective against insects, weeds, and fungi that have grown resistant to traditional crop chemicals",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "Re-emergence by legacy competitors could make it very difficult for GTT to grow the top line, as GTT would likely have to compete harder on price and would find it more difficult to grow market share, which is critical in an industry where the overall pie isn't getting bigger.",
    "output": "[Cause] GTT would likely have to compete harder on price and would find it more difficult to grow market share [Relation] cause [Effect] Re-emergence by legacy competitors could make it very difficult for GTT to grow the top line",
    "gold": "[Cause]  GTT would likely have to compete harder on price and would find it more difficult to grow market share [Relation] cause [Effect]  very difficult for GTT to grow the top line",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "Our expectation of Check Point continuing its strong subscription-based growth drives our five-year revenue compound annual growth rate of 3%.",
    "output": "[Cause] Our expectation of Check Point continuing its strong subscription-based growth [Relation] enable [Effect] our five-year revenue compound annual growth rate of 3%",
    "gold": "[Cause] Check Point continuing its strong subscription-based growth [Relation] cause [Effect] drives our five-year revenue compound annual growth rate of 3%",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "We are increasing our fair value estimate of Mettler-Toledo to $640 per share from $580 after considering the firm's resilient performance through the ongoing COVID-19 pandemic, and the combined effects of a reduced share count and the time value of money.",
    "output": "[Cause] considering the firm's resilient performance through the ongoing COVID-19 pandemic, and the combined effects of a reduced share count and the time value of money [Relation] cause [Effect] increasing our fair value estimate of Mettler-Toledo to $640 per share from $580",
    "gold": "[Cause] the firm's resilient performance through the ongoing COVID-19 pandemic, and the combined effects of a reduced share count and the time value of money [Relation] cause [Effect] We are increasing our fair value estimate of Mettler-Toledo to $640 per share from $580",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "We remain concerned about surging coronavirus cases so if new stay-at-home orders occur, we'd expect the stock to fall on the news.",
    "output": "[Cause] surging coronavirus cases [Relation] cause [Effect] new stay-at-home orders occur",
    "gold": "[Cause] We remain concerned about surging coronavirus cases [Relation] cause [Effect] if new stay-at-home orders occur, we'd expect the stock to fall on the news",
    "valid": false,
    "tag": "substr_invalid"
  },
  {
    "input": "Some governments have shown a preference for local payment networks, which could freeze Visa out of certain markets and impede the value it drives from its global network.",
    "output": "[Cause] Some governments have shown a preference for local payment networks [Relation] cause [Effect] freeze Visa out of certain markets",
    "gold": "[Cause] Some governments have shown a preference for local payment networks [Relation] prevent [Effect] Visa out of certain markets",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "Some governments have shown a preference for local payment networks, which could freeze Visa out of certain markets and impede the value it drives from its global network.",
    "output": "[Cause] Some governments have shown a preference for local payment networks [Relation] prevent [Effect] the value it drives from its global network",
    "gold": "[Cause] Some governments have shown a preference for local payment networks [Relation] cause [Effect]  impede the value it drives from its global network",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "Yet, a critical benefit of battery-electric powertrains is significantly reduced maintenance costs, as both major engine repairs and routine maintenance service are largely avoided.",
    "output": "[Cause] both major engine repairs and routine maintenance service are largely avoided [Relation] cause [Effect] a critical benefit of battery-electric powertrains is significantly reduced maintenance costs",
    "gold": "[Cause] both major engine repairs and routine maintenance service are largely avoided [Relation] prevent [Effect] maintenance costs",
    "valid": false,
    "tag": "substr_invalid"
  },
  {
    "input": "We expect sales of Herceptin, Rituxan, and Avastin to decline from roughly CHF 20 billion in 2019 to CHF 8 billion in 2024 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 8 billion in 2024",
    "gold": "[Cause] biosimilar competition [Relation] prevent [Effect] sales of Herceptin, Rituxan, and Avastin",
    "valid": false,
    "tag": "substr_invalid"
  },
  {
    "input": "Also, Glaxo's operating structure allows for cost-cutting following patent losses to reduce the margin pressure from lost high-margin drug sales.",
    "output": "[Cause] Glaxo's operating structure allows for cost-cutting following patent losses [Relation] enable [Effect] reduce the margin pressure from lost high-margin drug sales",
    "gold": "[Cause]  Glaxo's operating structure allows for cost-cutting following patent losses [Relation] enable [Effect] to reduce the margin pressure from lost high-margin drug sales",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "In addition, slower user growth could make higher monetization of users an increasingly difficult task as advertisers may allocate a bit more toward other platforms such as Snap, which has a faster-growing user base.",
    "output": "[Cause] advertisers may allocate a bit more toward other platforms such as Snap [Relation] cause [Effect] slower user growth could make higher monetization of users an increasingly difficult task",
    "gold": "[Cause] advertisers may allocate a bit more toward other platforms [Relation] cause [Effect] make higher monetization of users an increasingly difficult task",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "We think this differentiates the company from smaller competitors that only offer either equipment or consumables, as some customers value Lincoln Electric's one-stop-shop approach and comprehensive suite of welding solutions.",
    "output": "[Cause] some customers value Lincoln Electric's one-stop-shop approach and comprehensive suite of welding solutions [Relation] cause [Effect] differentiates the company from smaller competitors that only offer either equipment or consumables",
    "gold": "[Cause] customers value Lincoln Electric's one-stop-shop approach and comprehensive suite of welding solutions [Relation] enable [Effect] differentiates the company from smaller competitors that only offer either equipment or consumables",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "Finally, Hyatt and other large hotel brands require high amounts of human capital, which helps drive traveler experience and therefore is tied to brand intangible asset advantages found in the industry.",
    "output": "[Cause] Hyatt and other large hotel brands require high amounts of human capital [Relation] enable [Effect] helps drive traveler experience and therefore is tied to brand intangible asset advantages found in the industry",
    "gold": "[Cause]  Hyatt and other large hotel brands require high amounts of human capital, which helps drive traveler experience [Relation] cause [Effect]  is tied to brand intangible asset advantages found in the industry",
    "valid": false,
    "tag": "substr_invalid"
  },
  {
    "input": "We give LivaNova a high uncertainty rating, which reflects the firm's relatively limited product portfolio, relatively fewer resources to support the product pipeline, and our skeptical view of the efficacy of neuromodulation for refractory depression.",
    "output": "[Cause] the firm's relatively limited product portfolio, relatively fewer resources to support the product pipeline [Relation] cause [Effect] We give LivaNova a high uncertainty rating",
    "gold": "[Cause] the firm's relatively limited product portfolio [Relation] enable [Effect] We give LivaNova a high uncertainty rating",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "We give LivaNova a high uncertainty rating, which reflects the firm's relatively limited product portfolio, relatively fewer resources to support the product pipeline, and our skeptical view of the efficacy of neuromodulation for refractory depression.",
    "output": "[Cause] the firm's relatively limited product portfolio, relatively fewer resources to support the product pipeline [Relation] cause [Effect] We give LivaNova a high uncertainty rating",
    "gold": "[Cause] relatively fewer resources to support the product pipeline [Relation] enable [Effect] We give LivaNova a high uncertainty rating",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "Entities are increasingly moving workloads to public cloud environments and relying on SaaS applications, which could lower the demand for pure-play cybersecurity solutions if customers prefer options that are embedded into the resources used.",
    "output": "[Cause] Entities are increasingly moving workloads to public cloud environments and relying on SaaS applications [Relation] cause [Effect] lower the demand for pure-play cybersecurity solutions if customers prefer options that are embedded into the resources used",
    "gold": "[Cause] Entities are increasingly moving workloads to public cloud environments and relying on SaaS applications [Relation] cause [Effect]  lower the demand for pure-play cybersecurity solutions",
    "valid": false,
    "tag": "substr_invalid"
  },
  {
    "input": "At the same time, broadline distributors will likely continue to acquire their own value-added services, further encroaching on Avnet's territory.",
    "output": "[Cause] broadline distributors will likely continue to acquire their own value-added services [Relation] cause [Effect] further encroaching on Avnet's territory",
    "gold": "[Cause] broadline distributors will likely continue to acquire their own value-added services [Relation] enable [Effect] further encroaching",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "Still, we believe the cost structures of the company's two core operations compare favorably with those of most peers, due to Pepsi's ability to better leverage fixed costs and reduce variable costs through procurement advantages.",
    "output": "[Cause] Pepsi's ability to better leverage fixed costs and reduce variable costs through procurement advantages [Relation] cause [Effect] the cost structures of the company's two core operations compare favorably with those of most peers",
    "gold": "[Cause]  Pepsi's ability to better leverage fixed costs and reduce variable costs [Relation] cause [Effect]  the cost structures of the company's two core operations compare favorably with those of most peers",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "After 2021, we model low-single-digit growth in mobile ARPU, as the firm's convergent strategy success will be partially offset by competition in the lower end of the mobile market and and weak mobile trend.",
    "output": "[Cause] the firm's convergent strategy success will be partially offset by competition in the lower end of the mobile market and and weak mobile trend [Relation] cause [Effect] low-single-digit growth in mobile ARPU",
    "gold": "[Cause] as the firm's convergent strategy success will be partially offset by competition in the lower end of the mobile market and and weak mobile trend [Relation] cause [Effect] After 2021, we model low-single-digit growth in mobile ARPU",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "Overall, we believe Lennox's company-owned distribution model supports it brand reputation and drives improved product availability and service, which has helped the company gain market share in the last few years.",
    "output": "[Cause] Lennox's company-owned distribution model [Relation] enable [Effect] it brand reputation and drives improved product availability and service",
    "gold": "[Cause]  Lennox's company-owned distribution model [Relation] enable [Effect] it brand reputation | improved product availability and service",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "Overall, we believe Lennox's company-owned distribution model supports it brand reputation and drives improved product availability and service, which has helped the company gain market share in the last few years.",
    "output": "[Cause] Lennox's company-owned distribution model supports it brand reputation and drives improved product availability and service [Relation] enable [Effect] helped the company gain market share in the last few years",
    "gold": "[Cause]  Lennox's company-owned distribution model [Relation] cause [Effect] the company gain market share in the last few years",
    "valid": false,
    "tag": "substr_invalid"
  },
  {
    "input": "Even what might have been a smaller glitch could develop into a catastrophic system failure without proper maintenance and support.",
    "output": "[Cause] without proper maintenance and support [Relation] cause [Effect] develop into a catastrophic system failure",
    "gold": "[Cause] proper maintenance and support [Relation] prevent [Effect] system failure",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "We believe the ability to offer a full suite of services increases overall switching costs, especially for small banks and credit unions, which are more likely to depend on a single bank technology provider.",
    "output": "[Cause] the ability to offer a full suite of services [Relation] cause [Effect] overall switching costs",
    "gold": "[Cause] the ability to offer a full suite of services [Relation] cause [Effect]  increases overall switching costs, especially for small banks and credit unions, which are more likely to depend on a single bank technology provider",
    "valid": false,
    "tag": "substr_invalid"
  },
  {
    "input": "While Macerich's revenue is somewhat protected by long-term leases, we see retailer bankruptcies causing a further drop in occupancy and Macerich being forced to offer rent concessions to keep others afloat.",
    "output": "[Cause] retailer bankruptcies [Relation] cause [Effect] a further drop in occupancy",
    "gold": "[Cause] retailer bankruptcies [Relation] cause [Effect]  a further drop in occupancy and Macerich being forced to offer rent concessions to keep others afloat",
    "valid": false,
    "tag": "substr_invalid"
  },
  {
    "input": "While the bank started in Michigan and remains dominant in this market, Comerica has gradually expanded into California and Texas, which offer more growth potential.",
    "output": "[Cause] Comerica has gradually expanded into California and Texas [Relation] enable [Effect] more growth potential",
    "gold": "[Cause] Comerica has gradually expanded into California and Texas [Relation] cause [Effect] offer more growth potential",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "We model non-GAAP operating margins increasing from 43% in fiscal 2020 (actual) to 44% in fiscal 2025 driven by improving scale in the Digital Experience segment and general operating leverage.",
    "output": "[Cause] improving scale in the Digital Experience segment and general operating leverage [Relation] cause [Effect] non-GAAP operating margins increasing from 43% in fiscal 2020 (actual) to 44% in fiscal 2025",
    "gold": "[Cause] improving scale in the Digital Experience segment and general operating leverage [Relation] cause [Effect] We model non-GAAP operating margins increasing from 43% in fiscal 2020 (actual) to 44% in fiscal 2025",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "Assuming lockdowns don't materially recur, we look for truck-brokerage market conditions to see additional improvement in 2021, especially in terms of a strong late 2020/early 2021 contract bidding season (rate recovery).",
    "output": "[Cause] lockdowns don't materially recur [Relation] cause [Effect] truck-brokerage market conditions to see additional improvement in 2021",
    "gold": "[Cause] Assuming lockdowns don't materially recur [Relation] enable [Effect] we look for truck-brokerage market conditions to see additional improvement in 2021, especially in terms of a strong late 2020/early 2021 contract bidding season (rate recovery)",
    "valid": false,
    "tag": "substr_invalid"
  },
  {
    "input": "With the institutionalization of processes that were inefficient (including labor management, reset efforts, and inventory controls), profit improvement has already begun (with operating margin forecast to reach around 11% in 2020, from 9% in 2019).",
    "output": "[Cause] the institutionalization of processes that were inefficient [Relation] cause [Effect] profit improvement has already begun",
    "gold": "[Cause] With the institutionalization of processes that were inefficient (including labor management, reset efforts, and inventory controls) [Relation] enable [Effect] profit improvement has already begun (with operating margin forecast to reach around 11% in 2020, from 9% in 2019)",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "Given the limited land available to develop and the government's seeming preference to control growth of the region, we also think it is likely that there are not any meaningful new gaming concessions or table allocations presented at the time of renewal.",
    "output": "[Cause] the limited land available to develop and the government's seeming preference to control growth of the region [Relation] cause [Effect] there are not any meaningful new gaming concessions or table allocations presented at the time of renewal",
    "gold": "[Cause] the limited land available to develop and the government's seeming preference to control growth of the region [Relation] cause [Effect] we also think it is likely that there are not any meaningful new gaming concessions or table allocations presented at the time of renewal",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "For mining operations, material ESG risks include disagreements with local communities leading to mine disruptions, increased regulation of emissions from the mining process, and labor strikes.",
    "output": "[Cause] disagreements with local communities [Relation] cause [Effect] mine disruptions, increased regulation of emissions from the mining process, and labor strikes",
    "gold": "[Cause] material ESG risks include disagreements with local communities [Relation] cause [Effect] mine disruptions, increased regulation of emissions from the mining process, and labor strikes",
    "valid": false,
    "tag": "substr_invalid"
  },
  {
    "input": "Global plasma supply and fractionation capacity are limited, and Grifols' vertically integrated business gives it access to plasma collection centers and processing facilities.",
    "output": "[Cause] Grifols' vertically integrated business [Relation] enable [Effect] it access to plasma collection centers and processing facilities",
    "gold": "[Cause] Global plasma supply and fractionation capacity are limited, and Grifols' vertically integrated business [Relation] enable [Effect] gives it access to plasma collection centers and processing facilities",
    "valid": false,
    "tag": "substr_invalid"
  },
  {
    "input": "In our view, Zions has a desirable deposit base, but we believe any deposit cost advantage it has is more than offset by its weak fee income.",
    "output": "[Cause] its weak fee income [Relation] prevent [Effect] any deposit cost advantage it has",
    "gold": "[Cause]  its weak fee income [Relation] prevent [Effect]  deposit cost advantage",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "We model operating margins to expand into the low 20% range as NetApp balances its sales and development efforts with overall growth.",
    "output": "[Cause] NetApp balances its sales and development efforts with overall growth [Relation] cause [Effect] operating margins to expand into the low 20% range",
    "gold": "[Cause] NetApp balances its sales and development efforts with overall growth [Relation] cause [Effect] We model operating margins to expand into the low 20% range",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "We believe baseline demand will steadily rise for the firm's core service--providing temporary and permanent labor for healthcare providers--over an extended period.",
    "output": "[Cause] baseline demand will steadily rise for the firm's core service--providing temporary and permanent labor for healthcare providers--over an extended period [Relation] cause [Effect] baseline demand will steadily rise for the firm's core service",
    "gold": "[Cause] providing temporary and permanent labor for healthcare providers [Relation] cause [Effect] baseline demand will steadily rise for the firm's core service",
    "valid": false,
    "tag": "substr_invalid"
  },
  {
    "input": "Although bauxite is also a commodity, we expect bauxite margins to remain relatively stable, as China's bauxite imports are likely to increase materially in the coming years.",
    "output": "[Cause] China's bauxite imports are likely to increase materially in the coming years [Relation] cause [Effect] bauxite margins to remain relatively stable",
    "gold": "[Cause] China's bauxite imports are likely to increase materially in the coming years [Relation] cause [Effect] we expect bauxite margins to remain relatively stable",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "The firm's asset-light model provides the flexibility to match expenses with demand, but it also subjects Expeditors to variations in available carrier capacity.",
    "output": "[Cause] The firm's asset-light model [Relation] enable [Effect] provides the flexibility to match expenses with demand",
    "gold": "[Cause] asset-light model [Relation] enable [Effect] the flexibility to match expenses with demand",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "However, we believe that Swiss banks remain attractive to the world's elite for two main reasons: first, Swiss neutrality and second, the Swiss franc.",
    "output": "[Cause] Swiss neutrality and second, the Swiss franc [Relation] cause [Effect] Swiss banks remain attractive to the world's elite",
    "gold": "[Cause] first, Swiss neutrality and second, the Swiss franc [Relation] cause [Effect] Swiss banks remain attractive to the world's elite",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "Still unless regulation goes so far as to require Telus to remove all existing Huawei equipment, which we think is unlikely, we don't expect the cost of the potential ban to be too costly or impactful to Telus' network.",
    "output": "[Cause] regulation goes so far as to require Telus to remove all existing Huawei equipment [Relation] prevent [Effect] the cost of the potential ban to be too costly or impactful to Telus' network",
    "gold": "[Cause] regulation goes so far as to require Telus to remove all existing Huawei equipment [Relation] cause [Effect] don't expect the cost of the potential ban to be too costly or impactful to Telus' network",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "In our base case, we assume ConvaTec can improve its gross margin by 170 basis points to 54% by 2023 as more manufacturing is shifted over to the lower-cost geographies.",
    "output": "[Cause] more manufacturing is shifted over to the lower-cost geographies [Relation] enable [Effect] ConvaTec can improve its gross margin by 170 basis points to 54% by 2023",
    "gold": "[Cause]  more manufacturing is shifted over to the lower-cost geographies [Relation] cause [Effect] we assume ConvaTec can improve its gross margin by 170 basis points to 54% by 2023",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "The company is a merchant electric generator with stable, long-term power purchase agreements covering all of its geothermal output and virtually no variable fuel costs, and its contracts typically ensure a healthy return on capital for many years.",
    "output": "[Cause] stable, long-term power purchase agreements covering all of its geothermal output and virtually no variable fuel costs [Relation] enable [Effect] a healthy return on capital for many years",
    "gold": "[Cause]  stable, long-term power purchase agreements [Relation] cause [Effect] a healthy return on capital for many years",
    "valid": false,
    "tag": "substr_invalid"
  },
  {
    "input": "Given the lucrative nature of selling high-margin tools to professionals, manufacturers have long sought to displace Snap-on with premium tools sold through commercial distributors.",
    "output": "[Cause] the lucrative nature of selling high-margin tools to professionals [Relation] cause [Effect] manufacturers have long sought to displace Snap-on with premium tools sold through commercial distributors",
    "gold": "[Cause] Given the lucrative nature of selling high-margin tools to professionals [Relation] cause [Effect] manufacturers have long sought to displace Snap-on with premium tools sold through commercial distributors",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "In the U.S., categories like soda and juice drinks are in secular volume decline, and even as industry titans continue to extract value from these markets, National Beverage's brands are on the periphery with very narrow audiences.",
    "output": "[Cause] In the U.S., categories like soda and juice drinks are in secular volume decline [Relation] cause [Effect] industry titans continue to extract value from these markets, National Beverage's brands are on the periphery with very narrow audiences",
    "gold": "[Cause] In the U.S., categories like soda and juice drinks are in secular volume decline, and even as industry titans continue to extract value from these markets [Relation] cause [Effect] National Beverage's brands are on the periphery with very narrow audiences",
    "valid": false,
    "tag": "substr_invalid"
  },
  {
    "input": "Hostess has responded to consumer concerns by launching some products without artificial flavors, colors, and HFCS, but if these changes alter the taste of the goods, consumers may balk.",
    "output": "[Cause] these changes alter the taste of the goods [Relation] cause [Effect] consumers may balk",
    "gold": "[Cause] alter the taste of the goods [Relation] cause [Effect] consumers may balk",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "Our high uncertainty rating reflects Komatsu's high leverage to construction activity, infrastructure spending, economic activity, consumer spending, mining activity, and the cyclicality of commodity prices.",
    "output": "[Cause] Komatsu's high leverage to construction activity, infrastructure spending, economic activity, consumer spending, mining activity, and the cyclicality of commodity prices [Relation] cause [Effect] Our high uncertainty rating",
    "gold": "[Cause] Komatsu's high leverage to construction activity, infrastructure spending, economic activity, consumer spending, mining activity, and the cyclicality of commodity prices [Relation] cause [Effect] high uncertainty rating",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "More importantly, Roper's businesses tend to be in more oligopolistic, niche markets that have little risk of disruption given the small size of their total addressable markets and the importance of customer intimacy.",
    "output": "[Cause] the small size of their total addressable markets and the importance of customer intimacy [Relation] cause [Effect] Roper's businesses tend to be in more oligopolistic, niche markets that have little risk of disruption",
    "gold": "[Cause]  the small size of their total addressable markets and the importance of customer intimacy [Relation] cause [Effect] Roper's businesses tend to be in more oligopolistic, niche markets",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "We believe that Tencent will generate excess returns on capital over the next 20 years via various monetization sources, such as online gaming, subscriptions, advertising, and payment.",
    "output": "[Cause] various monetization sources [Relation] enable [Effect] Tencent will generate excess returns on capital over the next 20 years",
    "gold": "[Cause] various monetization sources, such as online gaming, subscriptions, advertising, and payment [Relation] enable [Effect] generate excess returns on capital over the next 20 years",
    "valid": false,
    "tag": "substr_invalid"
  },
  {
    "input": "Scale and deepening relationships should help O'Reilly curry favor with vendors and efficiently manage inventory, leading its payables/inventory ratio to average 111% over the next decade, approximating AutoZone's pre-pandemic marks.",
    "output": "[Cause] Scale and deepening relationships [Relation] enable [Effect] help O'Reilly curry favor with vendors and efficiently manage inventory",
    "gold": "[Cause] Scale and deepening relationships [Relation] enable [Effect] O'Reilly curry favor with vendors and efficiently manage inventory",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "Ball will face modest beverage can demand growth in its developed markets, North America and Europe, as a result of falling carbonated soft drink and mainstream beer volume, offset by a mix shift from bottles to cans among craft brewers.",
    "output": "[Cause] falling carbonated soft drink and mainstream beer volume, offset by a mix shift from bottles to cans among craft brewers [Relation] cause [Effect] Ball will face modest beverage can demand growth in its developed markets, North America and Europe",
    "gold": "[Cause]  falling carbonated soft drink and mainstream beer volume, offset by a mix shift from bottles to cans among craft brewers [Relation] cause [Effect] Ball will face modest beverage can demand growth in its developed markets",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "With the resurgence of COVID-19 cases in parts of the country, we slightly pull back our top and bottom line forecast for 2021 but maintain a favorable longer-term view on the company.",
    "output": "[Cause] the resurgence of COVID-19 cases in parts of the country [Relation] cause [Effect] we slightly pull back our top and bottom line forecast for 2021 but maintain a favorable longer-term view on the company",
    "gold": "[Cause] the resurgence of COVID-19 cases in parts of the country [Relation] cause [Effect] we slightly pull back our top and bottom line forecast for 2021",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "However, recent rate cases have allowed forward-looking estimates of capital expenditures and projected rate base, allowing Consolidated Edison Company of New York, Con Ed's largest subsidiary, to earn above its allowed returns.",
    "output": "[Cause] recent rate cases have allowed forward-looking estimates of capital expenditures and projected rate base [Relation] enable [Effect] Consolidated Edison Company of New York, Con Ed's largest subsidiary, to earn above its allowed returns",
    "gold": "[Cause]  recent rate cases have allowed forward-looking estimates of capital expenditures and projected rate base [Relation] cause [Effect] earn above its allowed returns",
    "valid": false,
    "tag": "substr_invalid"
  },
  {
    "input": "Although Perrigo's established relationship with mass retailers helps the company's competitive positioning, there are few consolidated retail chains pushing private labels in most other global OTC markets, limiting Perrigo's growth opportunities.",
    "output": "[Cause] there are few consolidated retail chains pushing private labels in most other global OTC markets [Relation] prevent [Effect] Perrigo's growth opportunities",
    "gold": "[Cause] there are few consolidated retail chains pushing private labels in most other global OTC markets [Relation] prevent [Effect] Perrigo's growth",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "CyrusOne believes it has a cost advantage over competitors that stems mostly from the type of personnel it employs and the company culture to continually find ways to be the low-cost builder in the industry and have more flexible and efficient data centers.",
    "output": "[Cause] the company culture [Relation] enable [Effect] continually find ways to be the low-cost builder in the industry and have more flexible and efficient data centers",
    "gold": "[Cause]  the type of personnel it employs and the company culture [Relation] enable [Effect] continually find ways to be the low-cost builder in the industry and have more flexible and efficient data centers",
    "valid": false,
    "tag": "substr_invalid"
  },
  {
    "input": "The Verbund concept amplifies the benefits of economies of scale from massive production facilities by clustering these plants together and linking them through a system of pipelines.",
    "output": "[Cause] clustering these plants together and linking them through a system of pipelines [Relation] enable [Effect] The Verbund concept amplifies the benefits of economies of scale from massive production facilities",
    "gold": "[Cause] clustering these plants together |  linking them through a system of pipelines [Relation] enable [Effect] amplifies the benefits",
    "valid": false,
    "tag": "substr_invalid"
  },
  {
    "input": "This will make Ecolab's water management systems that reduce a customer's water usage more valuable, as the systems will reduce customer operating expenses.",
    "output": "[Cause] the systems will reduce customer operating expenses [Relation] cause [Effect] Ecolab's water management systems that reduce a customer's water usage more valuable",
    "gold": "[Cause] the systems will reduce customer operating expenses [Relation] enable [Effect] This will make Ecolab's water management systems that reduce a customer's water usage more valuable",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "We are broadly assuming GDP-like growth in the defense business as we don't anticipate substantial growth in higher-margin international defense sales.",
    "output": "[Cause] we don't anticipate substantial growth in higher-margin international defense sales [Relation] cause [Effect] We are broadly assuming GDP-like growth in the defense business",
    "gold": "[Cause]  we don't anticipate substantial growth in higher-margin international defense sales [Relation] enable [Effect] GDP-like growth in the defense business",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "While Bayer's crop science business is well positioned, the challenges caused by COVID-19 are reducing demand for some crop science products.",
    "output": "[Cause] the challenges caused by COVID-19 [Relation] prevent [Effect] demand for some crop science products",
    "gold": "[Cause] challenges caused by COVID-19 [Relation] cause [Effect]  reducing demand for some crop science products",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "If interest rates rise without corresponding income growth, there is a risk that yield-searching capital will flow out of REITs, pressuring asset values and limiting capital alternatives for Aimco.",
    "output": "[Cause] interest rates rise without corresponding income growth [Relation] cause [Effect] yield-searching capital will flow out of REITs, pressuring asset values and limiting capital alternatives for Aimco",
    "gold": "[Cause] interest rates rise without corresponding income growth [Relation] enable [Effect]  a risk that yield-searching capital will flow out of REITs, pressuring asset values and limiting capital alternatives for Aimco",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "In our view, IAC has invested in areas within ANGI Homeservices that have resulted in basically a feedback loop--attracting more service professionals who have helped bring in more consumers who in turn have attracted more service professionals, and so on, thereby strengthening ANGI's network effect.",
    "output": "[Cause] IAC has invested in areas within ANGI Homeservices that have resulted in basically a feedback loop [Relation] enable [Effect] attracting more service professionals who have helped bring in more consumers who in turn have attracted more service professionals, and so on, thereby strengthening ANGI's network effect",
    "gold": "[Cause] a feedback loop [Relation] enable [Effect] strengthening ANGI's network effect",
    "valid": false,
    "tag": "substr_invalid"
  },
  {
    "input": "After the 2018 acquisition of Randgold, Barrick Gold holds a large portfolio of mines, with more than 10 mines individually producing 200,000 ounces or more.",
    "output": "[Cause] the 2018 acquisition of Randgold [Relation] cause [Effect] Barrick Gold holds a large portfolio of mines, with more than 10 mines individually producing 200,000 ounces or more",
    "gold": "[Cause] the 2018 acquisition of Randgold [Relation] cause [Effect] Barrick Gold holds a large portfolio of mines",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "Tesla has upside margin potential if it can reduce its battery cost, significantly exceed our delivery estimates, and have a high-margin storage and autonomous ride-hailing business.",
    "output": "[Cause] reduce its battery cost, significantly exceed our delivery estimates, and have a high-margin storage and autonomous ride-hailing business [Relation] enable [Effect] Tesla has upside margin potential",
    "gold": "[Cause] it can reduce its battery cost, significantly exceed our delivery estimates, and have a high-margin storage and autonomous ride-hailing business [Relation] enable [Effect] Tesla has upside margin potential",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "We rate Digital Realty as a high uncertainty stock primarily because the capital-heavy nature of its business minimizes its ability to be agile in the face of a market downturn.",
    "output": "[Cause] the capital-heavy nature of its business minimizes its ability to be agile in the face of a market downturn [Relation] cause [Effect] We rate Digital Realty as a high uncertainty stock",
    "gold": "[Cause] the capital-heavy nature of its business minimizes its ability to be agile in the face of a market downturn [Relation] cause [Effect] We rate Digital Realty as a high uncertainty stock primarily",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "In many cases, Viper acquires leases where most of the payments have already been committed to the extended family members of the original lease owner, reducing the net royalty to Viper.",
    "output": "[Cause] most of the payments have already been committed to the extended family members of the original lease owner [Relation] cause [Effect] reducing the net royalty to Viper",
    "gold": "[Cause] In many cases, Viper acquires leases where most of the payments have already been committed to the extended family members of the original lease owner [Relation] enable [Effect]  reducing the net royalty to Viper",
    "valid": false,
    "tag": "substr_invalid"
  },
  {
    "input": "The firm will use any excess capital generated from the S&L segment (like in 2019) to fund organic investments, reduce debt, and opportunistically purchase stock versus pursue unsustainable distribution increases.",
    "output": "[Cause] excess capital generated from the S&L segment (like in 2019) [Relation] enable [Effect] fund organic investments, reduce debt, and opportunistically purchase stock versus pursue unsustainable distribution increases",
    "gold": "[Cause] The firm will use any excess capital generated from the S&L segment (like in 2019) to fund organic investments, reduce debt, and opportunistically purchase stock [Relation] prevent [Effect] versus pursue unsustainable distribution increases",
    "valid": false,
    "tag": "substr_invalid"
  },
  {
    "input": "On the one hand, we generally believe that companies that trade at higher multiples face more severe consequences for risks that ultimately become reality.",
    "output": "[Cause] companies that trade at higher multiples face more severe consequences [Relation] cause [Effect] risks that ultimately become reality",
    "gold": "[Cause] companies that trade at higher multiples [Relation] cause [Effect] face more severe consequences for risks that ultimately become reality",
    "valid": false,
    "tag": "substr_invalid"
  },
  {
    "input": "Because Corning's sales double that of its closest competitor, AGC, it can spread its fixed costs over a larger volume, resulting in an enduring lower average cost per glass substrate.",
    "output": "[Cause] Corning's sales double that of its closest competitor, AGC [Relation] cause [Effect] it can spread its fixed costs over a larger volume",
    "gold": "[Cause] Corning's sales double that of its closest competitor [Relation] cause [Effect] it can spread its fixed costs over a larger volume",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "These labels may have the power to raise the royalties that Spotify owes on songs, especially if Spotify starts to become too powerful or popular.",
    "output": "[Cause] Spotify starts to become too powerful or popular [Relation] cause [Effect] These labels may have the power to raise the royalties that Spotify owes on songs",
    "gold": "[Cause]  if Spotify starts to become too powerful or popular [Relation] enable [Effect] These labels may have the power to raise the royalties that Spotify owes on songs",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "In the near term, we have client assets growing slowly after the recent strong run in the stock market and then normalized growth of around 6% thereafter. This drives about 7% growth in asset management revenue after accounting for client assets shifting to fee-based from commission-based charging arrangements and general fee compression.",
    "output": "[Cause] In the near term, we have client assets growing slowly after the recent strong run in the stock market and then normalized growth of around 6% thereafter [Relation] cause [Effect] drives about 7% growth in asset management revenue after accounting for client assets shifting to fee-based from commission-based charging arrangements and general fee compression",
    "gold": "[Cause] we have client assets growing slowly after the recent strong run in the stock market and then normalized growth of around 6% thereafter [Relation] cause [Effect] drives about 7% growth in asset management revenue after accounting for client assets shifting to fee-based from commission-based charging arrangements and general fee compression",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "So while we think Illumina's advantages are likely to lead to economic profitability for at least the next 10 years, we remain uncertain that those advantages will extend for the next 20 years, given the ongoing disruptive technology risk in this field.",
    "output": "[Cause] the ongoing disruptive technology risk in this field [Relation] cause [Effect] we remain uncertain that those advantages will extend for the next 20 years",
    "gold": "[Cause]  the ongoing disruptive technology risk in this field [Relation] cause [Effect]  remain uncertain that those advantages will extend for the next 20 years",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "We think Medtronic's diversified medical technology portfolio allows it to better weather occasional glitches in the development or approval process for any particular new device.",
    "output": "[Cause] Medtronic's diversified medical technology portfolio [Relation] enable [Effect] better weather occasional glitches in the development or approval process for any particular new device",
    "gold": "[Cause] We think Medtronic's diversified medical technology portfolio [Relation] enable [Effect] allows it to better weather occasional glitches in the development or approval process for any particular new device",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "This enables Advance to improve its inventory turnover despite high availability (subject to the constraints of a low-turn industry) by holding slow-moving items at distribution centers and hub stores serving many traditional locations in their vicinity.",
    "output": "[Cause] holding slow-moving items at distribution centers and hub stores serving many traditional locations in their vicinity [Relation] enable [Effect] Advance to improve its inventory turnover despite high availability (subject to the constraints of a low-turn industry)",
    "gold": "[Cause]  holding slow-moving items at distribution centers and hub stores serving many traditional locations in their vicinity [Relation] enable [Effect] Advance to improve its inventory turnover despite high availability",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "The relationships and customer experience feed on each other, with TJX's vendor relationships enabling a low-cost, high-value branded assortment that draws customers, traffic that adds to TJX's value to its suppliers.",
    "output": "[Cause] TJX's vendor relationships [Relation] enable [Effect] a low-cost, high-value branded assortment that draws customers, traffic that adds to TJX's value to its suppliers",
    "gold": "[Cause]  with TJX's vendor relationships [Relation] enable [Effect] a low-cost, high-value branded assortment that draws customers, traffic that adds to TJX's value to its suppliers.",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "We project $1 billion in dispositions per year over the next three years as the company looks to sell near the top of the market while acquiring a similar amount each year as the company looks to recycle lower-quality assets to fund the acquisition of higher-quality assets.",
    "output": "[Cause] the company looks to sell near the top of the market [Relation] cause [Effect] We project $1 billion in dispositions per year over the next three years",
    "gold": "[Cause] the company looks to sell near the top of the market [Relation] cause [Effect]  $1 billion in dispositions per year over the next three years",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "Activision is not as exposed to the mobile/tablet market as some of its competitors and may lose overall market and mind share to those firms as this market becomes more important.",
    "output": "[Cause] this market becomes more important [Relation] cause [Effect] may lose overall market and mind share to those firms",
    "gold": "[Cause] his market becomes more important [Relation] enable [Effect] lose overall market and mind share to those firms",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "We still expect industry gaming revenue in Macau to return to 2019 sales levels by 2022, as we expect pent-up demand to drive traffic.",
    "output": "[Cause] pent-up demand [Relation] cause [Effect] drive traffic",
    "gold": "[Cause] pent-up demand [Relation] enable [Effect]  to drive traffic",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "We still expect industry gaming revenue in Macau to return to 2019 sales levels by 2022, as we expect pent-up demand to drive traffic.",
    "output": "[Cause] pent-up demand [Relation] cause [Effect] industry gaming revenue in Macau to return to 2019 sales levels by 2022",
    "gold": "[Cause] pent-up demand to drive traffic [Relation] cause [Effect] industry gaming revenue in Macau to return to 2019 sales levels by 2022",
    "valid": false,
    "tag": "substr_invalid"
  },
  {
    "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. As a result, our model expects tie-ups every other year in the $100 million-$150 million price range, providing a volume bump of around 1,000 incremental units.",
    "output": "[Cause] 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 [Relation] cause [Effect] our model expects tie-ups every other year in the $100 million-$150 million price range, providing a volume bump of around 1,000 incremental units",
    "gold": "[Cause]  a strategy based on fit and the ability to raise shareholder value [Relation] cause [Effect] our model expects tie-ups every other year in the $100 million-$150 million price range, providing a volume bump of around 1,000 incremental units",
    "valid": false,
    "tag": "substr_invalid"
  },
  {
    "input": "That said, Canadian grain and potash shipments are providing a nice lift and volumes across most end markets are rebounding as lockdowns across Canada and the U.S.",
    "output": "[Cause] lockdowns across Canada and the U.S [Relation] cause [Effect] Canadian grain and potash shipments are providing a nice lift and volumes across most end markets are rebounding",
    "gold": "[Cause] lockdowns across Canada and the U.S [Relation] cause [Effect]  volumes across most end markets are rebounding",
    "valid": false,
    "tag": "substr_invalid"
  },
  {
    "input": "However, the threats posed by AMD in x86 CPUs, ARM-based CPUs developed by Intel's customers, Nvidia's first-mover advantage in artificial intelligence computing, and Intel's recent manufacturing struggles with its 10-nanometer process collectively lead to our high uncertainty rating for Intel.",
    "output": "[Cause] the threats posed by AMD in x86 CPUs, ARM-based CPUs developed by Intel's customers, Nvidia's first-mover advantage in artificial intelligence computing, and Intel's recent manufacturing struggles with its 10-nanometer process [Relation] cause [Effect] our high uncertainty rating for Intel",
    "gold": "[Cause] the threats posed by AMD in x86 CPUs, ARM-based CPUs developed by Intel's customers, Nvidia's first-mover advantage in artificial intelligence computing, and Intel's recent manufacturing struggles [Relation] cause [Effect]  our high uncertainty rating for Intel",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "We're anticipating that Huntington Ingalls' top line will slow materially in 2021 as production reaches capacity and further growth becomes difficult, and we expect a 2.3% compound annual revenue growth rate over our forecast period.",
    "output": "[Cause] production reaches capacity and further growth becomes difficult [Relation] cause [Effect] Huntington Ingalls' top line will slow materially in 2021",
    "gold": "[Cause] production reaches capacity and further growth becomes difficult [Relation] cause [Effect] We're anticipating that Huntington Ingalls' top line will slow materially in 2021",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "NextEra's Florida utility plans to invest aggressively to build out its solar portfolio in the state. This would reduce the utility's reliance on natural gas and nuclear generation, although both forms of generation will play a key role in grid reliability in the near term.",
    "output": "[Cause] NextEra's Florida utility plans to invest aggressively to build out its solar portfolio in the state [Relation] cause [Effect] reduce the utility's reliance on natural gas and nuclear generation, although both forms of generation will play a key role in grid reliability in the near term",
    "gold": "[Cause] NextEra's Florida utility plans to invest aggressively to build out its solar portfolio in the state [Relation] prevent [Effect]  the utility's reliance on natural gas and nuclear generation, although both forms of generation will play a key role in grid reliability in the near term",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "After accounting for the Finnish acquisitions and operating expense improvements, our forecast 2020 EBITDA margin reaches 38.1% from 37.4% in 2019.",
    "output": "[Cause] accounting for the Finnish acquisitions and operating expense improvements [Relation] cause [Effect] our forecast 2020 EBITDA margin reaches 38.1% from 37.4% in 2019",
    "gold": "[Cause] accounting for the Finnish acquisitions and operating expense improvements [Relation] cause [Effect] 2020 EBITDA margin reaches 38.1% from 37.4% in 2019",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "Intangible assets are evident in Neptune's ability to solve a customer pain points by making all its network meters backwards compatible with non-network meters, which according to management, gives Roper some pricing power.",
    "output": "[Cause] Intangible assets are evident in Neptune's ability to solve a customer pain points by making all its network meters backwards compatible with non-network meters [Relation] enable [Effect] gives Roper some pricing power",
    "gold": "[Cause] Intangible assets are evident in Neptune's ability to solve a customer pain points by making all its network meters backwards compatible with non-network meters [Relation] enable [Effect] Roper some pricing power",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "The rent, occupancy, and margin assumptions for each sector drive total company annual same-store NOI growth averaging 3.2% across our 10-year forecast.",
    "output": "[Cause] The rent, occupancy, and margin assumptions for each sector [Relation] enable [Effect] total company annual same-store NOI growth averaging 3.2% across our 10-year forecast",
    "gold": "[Cause] The rent, occupancy, and margin assumptions for each sector [Relation] cause [Effect]  total company annual same-store NOI growth averaging 3.2%",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "The most significant ESG risk the firm faces is human capital risk--that is, the risk that Grainger 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] The most significant ESG risk the firm faces is human capital risk [Relation] cause [Effect] lost market share",
    "gold": "[Cause] The most significant ESG risk the firm faces is human capital risk--that is, the risk that Grainger 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]  lead to lost market share",
    "valid": false,
    "tag": "substr_invalid"
  },
  {
    "input": "As a non-Australian based metallurgical coal producer, Teck has been able to export a portion of its production to China and attract a substantial premium to the prevailing Australian benchmark, currently nearly double. This has provided a benefit to realised and expected metallurgical coal prices that we do not expect Australian producers to garner.",
    "output": "[Cause] Teck has been able to export a portion of its production to China and attract a substantial premium to the prevailing Australian benchmark, currently nearly double [Relation] enable [Effect] provided a benefit to realised and expected metallurgical coal prices that we do not expect Australian producers to garner",
    "gold": "[Cause] As a non-Australian based metallurgical coal producer, Teck has been able to export a portion of its production to China and attract a substantial premium to the prevailing Australian benchmark, currently nearly double [Relation] cause [Effect] provided a benefit to realised and expected metallurgical coal prices that we do not expect Australian producers to garner",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "We don't think that investments to protect the brands will hinder cash flow potential, as cash flow rises from catalysts including strong film launches, new licences, and expense leverage.",
    "output": "[Cause] cash flow rises from catalysts including strong film launches, new licences, and expense leverage [Relation] cause [Effect] investments to protect the brands will hinder cash flow potential",
    "gold": "[Cause] cash flow rises from catalysts including strong film launches, new licences, and expense leverage [Relation] cause [Effect] We don't think that investments to protect the brands will hinder cash flow potential",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "Whether it's an accelerometer in a car, a tire pressure sensor in a semi truck, pressure sensors in anesthetics, or force and position sensors in an airplane, failure to constantly transmit accurate data can have disastrous consequences.",
    "output": "[Cause] failure to constantly transmit accurate data [Relation] cause [Effect] disastrous consequences",
    "gold": "[Cause] Whether it's an accelerometer in a car, a tire pressure sensor in a semi truck, pressure sensors in anesthetics, or force and position sensors in an airplane, failure to constantly transmit accurate data [Relation] cause [Effect]  have disastrous consequences",
    "valid": false,
    "tag": "substr_invalid"
  },
  {
    "input": "The firm has considerable pricing power for its data services as the lack of competition in many of its products means it is an exclusive source of data.",
    "output": "[Cause] the lack of competition in many of its products means it is an exclusive source of data [Relation] cause [Effect] The firm has considerable pricing power for its data services",
    "gold": "[Cause] its data services as the lack of competition in many of its products means it is an exclusive source of data. [Relation] enable [Effect] The firm has considerable pricing powe",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "This also serves a second function--as Twilio rolls out more use-case-specific solutions and increases enterprise penetration, its proportion of revenue coming from these products will increase, reducing the firm's reliance on offerings such as messaging, which comes with the burden of significant network carrier costs that weigh on margins.",
    "output": "[Cause] Twilio rolls out more use-case-specific solutions and increases enterprise penetration [Relation] cause [Effect] its proportion of revenue coming from these products will increase",
    "gold": "[Cause] Twilio rolls out more use-case-specific solutions and increases enterprise penetration [Relation] cause [Effect] proportion of revenue coming from these products will increase",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "As they typically represent a small fraction of total costs, customers are often willing to pay a premium and enter into long-term contracts with reputable distributors to ensure uninterrupted supply. As such, public industrial gas companies have historically earned returns in excess of their cost of capital, and we believe these lucrative profits will persist in the future.",
    "output": "[Cause] customers are often willing to pay a premium and enter into long-term contracts with reputable distributors to ensure uninterrupted supply [Relation] cause [Effect] public industrial gas companies have historically earned returns in excess of their cost of capital, and we believe these lucrative profits will persist in the future",
    "gold": "[Cause] As they typically represent a small fraction of total costs, customers are often willing to pay a premium and enter into long-term contracts with reputable distributors to ensure uninterrupted supply [Relation] cause [Effect] public industrial gas companies have historically earned returns in excess of their cost of capital, and we believe these lucrative profits will persist in the future",
    "valid": false,
    "tag": "substr_invalid"
  },
  {
    "input": "Our model also considers some adjusted EBITDA margin compression expectations due to COVID-19 as well as increased technology, logistics, product development, local services, and marketing investments the next several years.",
    "output": "[Cause] COVID-19 as well as increased technology, logistics, product development, local services, and marketing investments the next several years [Relation] cause [Effect] adjusted EBITDA margin compression expectations",
    "gold": "[Cause] COVID-19 as well as increased technology, logistics, product development, local services, and marketing investments the next several years [Relation] cause [Effect] some adjusted EBITDA margin compression expectations",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "Additionally, changing go-to-market dynamics, such as online commerce that encourages real-time price comparisons and obviates the extent of Pepsi's retail distribution advantage, allow for more nimble and aggressive competition.",
    "output": "[Cause] changing go-to-market dynamics, such as online commerce that encourages real-time price comparisons and obviates the extent of Pepsi's retail distribution advantage [Relation] enable [Effect] more nimble and aggressive competition",
    "gold": "[Cause] changing go-to-market dynamics [Relation] enable [Effect] more nimble and aggressive competition",
    "valid": false,
    "tag": "substr_invalid"
  },
  {
    "input": "For example, we believe Halliburton's profitability in key North American business lines like pressure pumping will peak in 2018 and decline thereafter owing to the steep competitive pressures in North American shale markets.",
    "output": "[Cause] the steep competitive pressures in North American shale markets [Relation] cause [Effect] Halliburton's profitability in key North American business lines like pressure pumping will peak in 2018 and decline thereafter",
    "gold": "[Cause]  the steep competitive pressures in North American shale markets [Relation] cause [Effect]  we believe Halliburton's profitability in key North American business lines like pressure pumping will peak in 2018 and decline thereafter",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "We believe SG&A expenses will deleverage modestly from 2020 levels (34.9%) on store closures and a more efficient supply chain.",
    "output": "[Cause] store closures and a more efficient supply chain [Relation] cause [Effect] SG&A expenses will deleverage modestly from 2020 levels (34.9%)",
    "gold": "[Cause] store closures and a more efficient supply chain [Relation] enable [Effect] SG&A expenses will deleverage modestly",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "Beyond those intangible assets, we think scale-related factors lead to cost advantages and negotiating power versus key payers that help Fresenius generate economic profits.",
    "output": "[Cause] scale-related factors [Relation] cause [Effect] cost advantages and negotiating power versus key payers that help Fresenius generate economic profits",
    "gold": "[Cause] Beyond those intangible assets, we think scale-related factors lead to cost advantages and negotiating power versus key payers [Relation] enable [Effect]  help Fresenius generate economic profits",
    "valid": false,
    "tag": "substr_invalid"
  },
  {
    "input": "Therefore, as supply levels begin to improve and demand moderates (as consumers eventually navigate beyond their homes as vaccines are more broadly distributed), this shouldn't serve as a lasting overhang on growth, in our view.",
    "output": "[Cause] supply levels begin to improve and demand moderates (as consumers eventually navigate beyond their homes as vaccines are more broadly distributed) [Relation] cause [Effect] this shouldn't serve as a lasting overhang on growth",
    "gold": "[Cause]  as supply levels begin to improve and demand moderates (as consumers eventually navigate beyond their homes as vaccines are more broadly distributed) [Relation] enable [Effect] this shouldn't serve as a lasting overhang on growth, in our view",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "Management's efforts to control costs and discipline around marketing efforts have allowed Vivo to post margin gains recently despite minimal revenue growth.",
    "output": "[Cause] Management's efforts to control costs and discipline around marketing efforts [Relation] enable [Effect] Vivo to post margin gains recently",
    "gold": "[Cause] Management's efforts to control costs and discipline around marketing efforts [Relation] enable [Effect] allowed Vivo to post margin gains recently",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "Here, Paychex is well positioned to offer services to handle the administrative requirements, providing some offset to declining revenue elsewhere.",
    "output": "[Cause] Paychex is well positioned to offer services to handle the administrative requirements [Relation] enable [Effect] providing some offset to declining revenue elsewhere",
    "gold": "[Cause] Paychex is well positioned to offer services to handle the administrative requirements [Relation] cause [Effect] some offset to declining revenue elsewhere",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "However, virtualization, Moore's law, and other advancements that allow servers greater efficiency could result in an environment where those increasing needs come to fruition but data centers are not the beneficiaries.",
    "output": "[Cause] virtualization, Moore's law, and other advancements that allow servers greater efficiency [Relation] cause [Effect] an environment where those increasing needs come to fruition but data centers are not the beneficiaries",
    "gold": "[Cause] virtualization, Moore's law, and other advancements that allow servers greater efficiency [Relation] cause [Effect] an environment where those increasing needs come to fruition",
    "valid": false,
    "tag": "substr_invalid"
  },
  {
    "input": "While organic growth has been somewhat elusive in recent years due to sluggish industrial production, we think Xylem is poised to benefit from long-term trends, including global population growth, water scarcity in developing countries, and the need to replace aging water infrastructure in developed countries.",
    "output": "[Cause] sluggish industrial production [Relation] cause [Effect] organic growth has been somewhat elusive in recent years",
    "gold": "[Cause] sluggish industrial production [Relation] cause [Effect] organic growth has been somewhat elusive",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "In light of persistent competition leading to higher customer acquisition costs, we think it is unlikely that Unilever's margin will go much higher, however, and 20% is also our steady state assumption.",
    "output": "[Cause] persistent competition leading to higher customer acquisition costs [Relation] cause [Effect] it is unlikely that Unilever's margin will go much higher",
    "gold": "[Cause] In light of persistent competition leading to higher customer acquisition costs [Relation] cause [Effect] we think it is unlikely that Unilever's margin will go much higher",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "With deal sizes growing larger, Thermo Fisher is increasingly facing a scenario where it deploys capital in a value-dilutive manner, particularly if interest rates increase.",
    "output": "[Cause] deal sizes growing larger [Relation] cause [Effect] Thermo Fisher is increasingly facing a scenario where it deploys capital in a value-dilutive manner",
    "gold": "[Cause] deal sizes growing larger [Relation] enable [Effect]  it deploys capital in a value-dilutive manner",
    "valid": false,
    "tag": "substr_invalid"
  },
  {
    "input": "Hanesbrands has reported uneven results over the past four years due to store closures, lower retail inventories, weakness in intimate apparel, and, in 2020, COVID-19.",
    "output": "[Cause] store closures, lower retail inventories, weakness in intimate apparel, and, in 2020, COVID-19 [Relation] cause [Effect] Hanesbrands has reported uneven results over the past four years",
    "gold": "[Cause] store closures, lower retail inventories, weakness in intimate apparel, and, in 2020, COVID-19 [Relation] cause [Effect] uneven results over the past four years",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "We believe that production increases are reasonable to expect because we anticipate fleet growth will be necessary to satisfy the emerging market's growing demand for air travel and because we expect developed market carriers will replace their aging fleet of 737 NG aircraft.",
    "output": "[Cause] we anticipate fleet growth will be necessary to satisfy the emerging market's growing demand for air travel and because we expect developed market carriers will replace their aging fleet of 737 NG aircraft [Relation] cause [Effect] production increases are reasonable to expect",
    "gold": "[Cause]  growth will be necessary to satisfy the emerging market's growing demand for air travel [Relation] enable [Effect]  production increases are reasonable to expect",
    "valid": false,
    "tag": "substr_invalid"
  },
  {
    "input": "Finally, like other automation counterparts, the Logix platform offers customers the opportunity to run analytics on the cloud, allowing for improved asset utilization as well as lower total cost of ownership.",
    "output": "[Cause] the Logix platform offers customers the opportunity to run analytics on the cloud [Relation] enable [Effect] improved asset utilization as well as lower total cost of ownership",
    "gold": "[Cause] Finally, like other automation counterparts, the Logix platform offers customers the opportunity to run analytics on the cloud [Relation] enable [Effect]  allowing for improved asset utilization as well as lower total cost of ownership",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "Strong digital engagement trends and advancement will continue to remain a key focus of the brand, especially with the closure of a plethora of brick-and-mortar studios, allowing WW to attract a wider total addressable market.",
    "output": "[Cause] Strong digital engagement trends and advancement will continue to remain a key focus of the brand, especially with the closure of a plethora of brick-and-mortar studios [Relation] enable [Effect] WW to attract a wider total addressable market",
    "gold": "[Cause] the closure of a plethora of brick-and-mortar studios [Relation] enable [Effect] allowing WW to attract a wider total addressable market",
    "valid": false,
    "tag": "substr_invalid"
  },
  {
    "input": "The modular construction of the boats allows the company to increase offerings without adding substantial cost to production, while the patents on the high-tech, high-margin innovations prevent imitation (and the firm has fervently protected its intellectual property in the past).",
    "output": "[Cause] the patents on the high-tech, high-margin innovations [Relation] prevent [Effect] imitation",
    "gold": "[Cause] the patents on the high-tech, high-margin innovations [Relation] prevent [Effect] imitation (and the firm has fervently protected its intellectual property in the past)",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "In our view, the firm's leading volumes allow it to reduce fixed costs per unit through operating leverage, and variable costs per unit through more favorable raw material procurement terms.",
    "output": "[Cause] the firm's leading volumes [Relation] enable [Effect] reduce fixed costs per unit through operating leverage, and variable costs per unit through more favorable raw material procurement terms",
    "gold": "[Cause] the firm's leading volumes [Relation] enable [Effect] it to reduce fixed costs per unit through operating leverage, and variable costs per unit through more favorable raw material procurement terms",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "All other methods of data gathering, such as Oil & Gas Equipment & Servicesseismic or the various wireline logging tools, only measure proxy variables and thus must be calibrated using Core Lab's analysis of cores.",
    "output": "[Cause] All other methods of data gathering, such as Oil & Gas Equipment & Servicesseismic or the various wireline logging tools, only measure proxy variables [Relation] cause [Effect] calibrated using Core Lab's analysis of cores",
    "gold": "[Cause]  measure proxy variables [Relation] cause [Effect] must be calibrated using Core Lab's analysis of cores",
    "valid": false,
    "tag": "substr_invalid"
  },
  {
    "input": "With ample resources to fuel expansion, we expect Costco will continue to return a meaningful amount of cash to shareholders using stock buybacks and a mix of regular and special dividends.",
    "output": "[Cause] ample resources to fuel expansion [Relation] enable [Effect] Costco will continue to return a meaningful amount of cash to shareholders using stock buybacks and a mix of regular and special dividends",
    "gold": "[Cause] With ample resources to fuel expansion [Relation] enable [Effect] we expect Costco will continue to return a meaningful amount of cash to shareholders using stock buybacks and a mix of regular and special dividends.",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "Equity Residential has repositioned its portfolio over the past decade to focus on owning and operating high-quality multifamily buildings in urban, coastal markets with demographics that allow the company to maintain high occupancies and drive strong rent growth.",
    "output": "[Cause] Equity Residential has repositioned its portfolio over the past decade to focus on owning and operating high-quality multifamily buildings in urban, coastal markets with demographics [Relation] enable [Effect] the company to maintain high occupancies and drive strong rent growth",
    "gold": "[Cause] coastal markets [Relation] enable [Effect] allow the company to maintain high occupancies and drive strong rent growth",
    "valid": false,
    "tag": "substr_invalid"
  },
  {
    "input": "CSPs typically multisource their hardware and exert pricing power over network equipment providers since a small quantity of suppliers vie for a limited number of contracts.",
    "output": "[Cause] a small quantity of suppliers vie for a limited number of contracts [Relation] cause [Effect] CSPs typically multisource their hardware and exert pricing power over network equipment providers",
    "gold": "[Cause] small quantity of suppliers vie for a limited number of contracts [Relation] cause [Effect] CSPs typically multisource their hardware and exert pricing power over network equipment providers",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "Thinning margins in corrugated packaging, which accounts for nearly 80% of PCA's sales, are likely to weigh on consolidated profit growth.",
    "output": "[Cause] Thinning margins in corrugated packaging [Relation] prevent [Effect] consolidated profit growth",
    "gold": "[Cause] Thinning margins in corrugated packaging [Relation] enable [Effect] weigh on consolidated profit growth",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "Still, we don't think Corning's end markets are at great risk of disruptive new entrants, given the massive capital intensity and research and development required.",
    "output": "[Cause] the massive capital intensity and research and development required [Relation] cause [Effect] we don't think Corning's end markets are at great risk of disruptive new entrants",
    "gold": "[Cause] given the massive capital intensity and research and development required [Relation] cause [Effect] Still, we don't think Corning's end markets are at great risk of disruptive new entrants",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "With management fees being expected to continue to be pressured by the growth of low-cost passive products, our near- to medium-term forecast for a stand-alone Waddell & Reed has revenue being flat on average annually during 2021-25.",
    "output": "[Cause] management fees being expected to continue to be pressured by the growth of low-cost passive products [Relation] cause [Effect] our near- to medium-term forecast for a stand-alone Waddell & Reed has revenue being flat on average annually during 2021-25",
    "gold": "[Cause] With management fees being expected to continue to be pressured by the growth of low-cost passive products [Relation] cause [Effect] a stand-alone Waddell & Reed has revenue being flat on average annually during 2021-25",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "While we do not believe the COVID-19 pandemic will materially alter Costco's long-term trajectory, it increases near-term uncertainty as customers flock to warehouses to stock up on essentials.",
    "output": "[Cause] customers flock to warehouses to stock up on essentials [Relation] cause [Effect] it increases near-term uncertainty",
    "gold": "[Cause] as customers flock to warehouses to stock up on essentials [Relation] cause [Effect] While we do not believe the COVID-19 pandemic will materially alter Costco's long-term trajectory, it increases near-term uncertainty",
    "valid": false,
    "tag": "substr_invalid"
  },
  {
    "input": "Therefore, continued deceleration in the Sales Cloud, or growth that does not materialize as expected in Service, Marketing, and Commerce Clouds, or the Salesforce Platform would likely have an adverse impact on the stock in our view.",
    "output": "[Cause] continued deceleration in the Sales Cloud, or growth that does not materialize as expected in Service, Marketing, and Commerce Clouds, or the Salesforce Platform [Relation] cause [Effect] have an adverse impact on the stock in our view",
    "gold": "[Cause] continued deceleration in the Sales Cloud, or growth that does not materialize as expected in Service, Marketing, and Commerce Clouds, or the Salesforce Platform [Relation] cause [Effect] have an adverse impact on the stock",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "This resiliency played out during the last economic recession (calendar 2008-09), as sales edged up at a low- to mid-single-digit average rate.",
    "output": "[Cause] sales edged up at a low- to mid-single-digit average rate [Relation] cause [Effect] This resiliency played out during the last economic recession",
    "gold": "[Cause] sales edged up at a low- to mid-single-digit average rate [Relation] cause [Effect] This resiliency played out during the last economic recession (calendar 2008-09)",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "Food consumption is outpacing population growth as wealthier, more educated societies become more urbanized. This shift has the twofold effect of reducing the available stock of farm labor, which drives mechanization, and producing a more affluent society that consumes more food with higher protein content.",
    "output": "[Cause] Food consumption is outpacing population growth as wealthier, more educated societies become more urbanized [Relation] cause [Effect] This shift has the twofold effect of reducing the available stock of farm labor, which drives mechanization, and producing a more affluent society that consumes more food with higher protein content",
    "gold": "[Cause] Food consumption is outpacing population growth as wealthier, more educated societies become more urbanized [Relation] cause [Effect]  reducing the available stock of farm labor, which drives mechanization, and producing a more affluent society that consumes more food with higher protein content",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "Despite this, we recognize consumer trends are constantly evolving, and Campbell will need to prove agile in its product innovation and marketing over a longer horizon to sustain its edge.",
    "output": "[Cause] Campbell will need to prove agile in its product innovation and marketing over a longer horizon [Relation] enable [Effect] sustain its edge",
    "gold": "[Cause] Campbell will need to prove agile in its product innovation and marketing [Relation] enable [Effect] sustain its edge",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "We expect there to be an unwinding of clearance activity and a release of duplicated IT costs, which have been part of the business disruption that affected the execution of the One Kingfisher strategy.",
    "output": "[Cause] an unwinding of clearance activity and a release of duplicated IT costs [Relation] cause [Effect] affected the execution of the One Kingfisher strategy",
    "gold": "[Cause] there to be an unwinding of clearance activity and a release of duplicated IT costs [Relation] cause [Effect] have been part of the business disruption that affected the execution of the One Kingfisher strategy",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "We expect Choice's intangible brand asset and switching cost advantage to remain intact, driven by new hotel brands, renovation of existing properties, and a sizable loyalty program.",
    "output": "[Cause] new hotel brands, renovation of existing properties, and a sizable loyalty program [Relation] enable [Effect] Choice's intangible brand asset and switching cost advantage to remain intact",
    "gold": "[Cause] driven by new hotel brands, renovation of existing properties, and a sizable loyalty program [Relation] enable [Effect]  Choice's intangible brand asset and switching cost advantage to remain intact",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "We then expect the company to deleverage its marketing expense in 2021, as Booking continues to invest in integrating experiences, alternative accommodations, flights, and emerging-market supply in Booking.com in the near term.",
    "output": "[Cause] Booking continues to invest in integrating experiences, alternative accommodations, flights, and emerging-market supply in Booking.com in the near term [Relation] cause [Effect] the company to deleverage its marketing expense in 2021",
    "gold": "[Cause] Booking continues to invest in integrating experiences, alternative accommodations, flights, and emerging-market supply in Booking.com in the near term [Relation] cause [Effect] We then expect the company to deleverage its marketing expense in 2021",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "We expect limited upside in pricing in the industrial gas sector due to competition for new contracts, especially in emerging markets, and on-site customers' option to choose in-house production.",
    "output": "[Cause] competition for new contracts, especially in emerging markets, and on-site customers' option to choose in-house production [Relation] cause [Effect] limited upside in pricing in the industrial gas sector",
    "gold": "[Cause] competition for new contracts [Relation] cause [Effect]  limited upside in pricing in the industrial gas sector",
    "valid": false,
    "tag": "substr_invalid"
  },
  {
    "input": "While these structural attributes have been big pluses for the firm, we believe BlackRock's (and, hence, CEO Larry Fink's) insistence on one common culture, focused on one common vision, operating on one common platform has also provided the firm with a leg up over its peers.",
    "output": "[Cause] operating on one common platform [Relation] enable [Effect] the firm with a leg up over its peers",
    "gold": "[Cause] BlackRock's (and, hence, CEO Larry Fink's) insistence on one common culture, focused on one common vision, operating on one common platform [Relation] cause [Effect] the firm with a leg up over its peers",
    "valid": false,
    "tag": "substr_invalid"
  },
  {
    "input": "The company's armored vehicle segment is not competing for the Bradley Fighting Vehicle replacement contract, which limits our revenue visibility for the subsegment to sustainment and modifications for the M1117 Armored Security Vehicle, which has been in service since 1999.",
    "output": "[Cause] The company's armored vehicle segment is not competing for the Bradley Fighting Vehicle replacement contract [Relation] prevent [Effect] our revenue visibility for the subsegment to sustainment and modifications for the M1117 Armored Security Vehicle, which has been in service since 1999",
    "gold": "[Cause]  the Bradley Fighting Vehicle replacement contract [Relation] prevent [Effect]  our revenue visibility for the subsegment to sustainment and modifications for the M1117 Armored Security Vehicle",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "Although there is not a major maturation of debt until 2024 when $4.4 billion is due, a prolonged economic downturn from COVID-19 or sustained drop in Caesars' competitive positioning could present challenges to meeting its debt obligations.",
    "output": "[Cause] a prolonged economic downturn from COVID-19 or sustained drop in Caesars' competitive positioning [Relation] cause [Effect] present challenges to meeting its debt obligations",
    "gold": "[Cause] a prolonged economic downturn from COVID-19 or sustained drop in Caesars' competitive positioning [Relation] prevent [Effect] meeting its debt obligations",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "Although there is not a major maturation of debt until 2024 when $4.4 billion is due, a prolonged economic downturn from COVID-19 or sustained drop in Caesars' competitive positioning could present challenges to meeting its debt obligations.",
    "output": "[Cause] a prolonged economic downturn from COVID-19 or sustained drop in Caesars' competitive positioning [Relation] cause [Effect] present challenges to meeting its debt obligations",
    "gold": "[Cause] a prolonged economic downturn from COVID-19 or sustained drop in Caesars' competitive positioning [Relation] enable [Effect]  challenges to meeting its debt obligations",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "While Telefonica's acquisition of E-Plus made it the largest German wireless operator by subscribers, Vodafone has a higher-quality wireless network.",
    "output": "[Cause] Telefonica's acquisition of E-Plus [Relation] enable [Effect] it the largest German wireless operator by subscribers",
    "gold": "[Cause]  Telefonica's acquisition of E-Plus [Relation] enable [Effect]  made it the largest German wireless operator by subscribers",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "We expect NBCU revenue will rebound 22% in 2021 after a 17% decline in 2020, thanks to the Summer Olympics, a rebound in theme park attendance, recovery in movie studio revenue, and growth at Peacock.",
    "output": "[Cause] the Summer Olympics, a rebound in theme park attendance, recovery in movie studio revenue, and growth at Peacock [Relation] cause [Effect] NBCU revenue will rebound 22% in 2021 after a 17% decline in 2020",
    "gold": "[Cause] he Summer Olympics, a rebound in theme park attendance, recovery in movie studio revenue, and growth at Peacock [Relation] cause [Effect] NBCU revenue will rebound 22% in 2021 after a 17% decline in 2020",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "Due to these massive switching costs, a potential competitor would have difficulty garnering customers even if they brought a competitive product to market.",
    "output": "[Cause] these massive switching costs [Relation] cause [Effect] a potential competitor would have difficulty garnering customers even if they brought a competitive product to market",
    "gold": "[Cause] these massive switching costs [Relation] cause [Effect]  a potential competitor would have difficulty garnering customers",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "Finally, due to de-facto government control of Eni, concerns remain that political and national interests hinder an efficient allocation of resources and termination of unprofitable projects, specifically in Italy.",
    "output": "[Cause] de-facto government control of Eni [Relation] cause [Effect] concerns remain that political and national interests hinder an efficient allocation of resources and termination of unprofitable projects, specifically in Italy",
    "gold": "[Cause] to de-facto government control of Eni [Relation] cause [Effect] political and national interests hinder an efficient allocation of resources and termination of unprofitable projects, specifically in Italy",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "Cognizant announced its departure from the content moderation business after news outlets recounted the conditions Cognizant employees endured as they sifted through extremely unsettling content from Facebook.",
    "output": "[Cause] they sifted through extremely unsettling content from Facebook [Relation] cause [Effect] Cognizant announced its departure from the content moderation business",
    "gold": "[Cause] news outlets recounted the conditions Cognizant employees endured as they sifted through extremely unsettling content from Facebook [Relation] cause [Effect] Cognizant announced its departure from the content moderation business",
    "valid": false,
    "tag": "substr_invalid"
  },
  {
    "input": "We expect growth to be fueled by the significant increase in members, increasing visit fees and cross-selling of multiple services, which should increase the stickiness of its offering.",
    "output": "[Cause] growth to be fueled by the significant increase in members, increasing visit fees and cross-selling of multiple services [Relation] cause [Effect] increase the stickiness of its offering",
    "gold": "[Cause] growth to be fueled by the significant increase in members [Relation] cause [Effect] increase the stickiness of its offering",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "This investment has the benefit of creating a cardholder base with relatively high switching costs, as consumers with large existing balances will face difficulties in getting approved at another firm.",
    "output": "[Cause] consumers with large existing balances will face difficulties in getting approved at another firm [Relation] cause [Effect] This investment has the benefit of creating a cardholder base with relatively high switching costs",
    "gold": "[Cause]  consumers with large existing balances will face difficulties in getting approved at another firm [Relation] cause [Effect]  creating a cardholder base with relatively high switching costs",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "With the likely exit of a number of inferior businesses, we anticipate Hannover is likely to experience a close to 25% rise in premium income.",
    "output": "[Cause] the likely exit of a number of inferior businesses [Relation] cause [Effect] Hannover is likely to experience a close to 25% rise in premium income",
    "gold": "[Cause]  a number of inferior businesses [Relation] cause [Effect]  Hannover is likely to experience a close to 25% rise in premium income",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "Volatile input costs can also weigh on profits, and if Campbell chooses to raise prices to offset these pressures, volume could be constrained, especially during economic periods where consumers are highly selective in their purchase decisions.",
    "output": "[Cause] Volatile input costs can also weigh on profits, and if Campbell chooses to raise prices to offset these pressures [Relation] cause [Effect] volume could be constrained, especially during economic periods where consumers are highly selective in their purchase decisions",
    "gold": "[Cause] raise prices to offset these pressures [Relation] prevent [Effect] volume",
    "valid": false,
    "tag": "substr_invalid"
  },
  {
    "input": "Internet Content & InformationWe believe that by creating and acquiring various online dating products that each serve different people in terms of demographics, location, and culture, Match Group has successfully created a network effect for its entire portfolio of services that is becoming more mainstream.",
    "output": "[Cause] creating and acquiring various online dating products that each serve different people in terms of demographics, location, and culture [Relation] enable [Effect] Match Group has successfully created a network effect for its entire portfolio of services that is becoming more mainstream",
    "gold": "[Cause] creating and acquiring various online dating products that each serve different people in terms of demographics, location, and culture [Relation] enable [Effect] created a network effect for its entire portfolio of services that is becoming more mainstream",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "Marsh & McLennan's largest cost component is employee compensation, which could lead to pressure on margins if labor conditions grew tight and any large-scale employee defections could damage the business.",
    "output": "[Cause] labor conditions grew tight and any large-scale employee defections could damage the business [Relation] cause [Effect] pressure on margins",
    "gold": "[Cause] if labor conditions grew tight and any large-scale employee defections could damage the business. [Relation] cause [Effect] Marsh & McLennan's largest cost component is employee compensation, which could lead to pressure on margins",
    "valid": false,
    "tag": "substr_invalid"
  },
  {
    "input": "We see substantial switching costs to the customer, as missile defense systems are arguably the most mission-critical part of a nation's defense infrastructure, and improperly functioning missile defense systems have the potential to directly cause civilian casualties.",
    "output": "[Cause] missile defense systems are arguably the most mission-critical part of a nation's defense infrastructure, and improperly functioning missile defense systems have the potential to directly cause civilian casualties [Relation] cause [Effect] substantial switching costs to the customer",
    "gold": "[Cause] missile defense systems are arguably the most mission-critical part of a nation's defense infrastructure [Relation] cause [Effect] substantial switching costs to the customer",
    "valid": false,
    "tag": "substr_invalid"
  },
  {
    "input": "Earlier in 2020, we lowered automotive equity income over our five-year forecast period by over 40% compared with our 2019 model due to management comments that a Chinese turnaround will take a few years.",
    "output": "[Cause] management comments that a Chinese turnaround will take a few years [Relation] cause [Effect] we lowered automotive equity income over our five-year forecast period by over 40% compared with our 2019 model",
    "gold": "[Cause]  management comments that a Chinese turnaround will take a few years [Relation] cause [Effect] Earlier in 2020, we lowered automotive equity income over our five-year forecast period by over 40% compared with our 2019 model",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "ROICs are also supported by strong capital allocation as well as the elimination of its incentive distribution rights in 2010, which lowered its cost of capital.",
    "output": "[Cause] strong capital allocation as well as the elimination of its incentive distribution rights in 2010 [Relation] enable [Effect] lowered its cost of capital",
    "gold": "[Cause] ROICs are also supported by strong capital allocation as well as the elimination of its incentive distribution rights in 2010 [Relation] cause [Effect] lowered its cost of capital",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "However, Hormel is the only protein producer that sells primarily through its own dedicated salesforce, as Tyson and Smithfield rely heavily on brokers.",
    "output": "[Cause] Tyson and Smithfield rely heavily on brokers [Relation] cause [Effect] Hormel is the only protein producer that sells primarily through its own dedicated salesforce",
    "gold": "[Cause] Tyson and Smithfield rely heavily on brokers [Relation] cause [Effect] Hormel is the only protein producer",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "This helped soften the blow of a weaker memory environment (Lam's total DRAM and NAND sales fell 35%), leading to a roughly even split between memory and logic/foundry sales for Lam in calendar 2019.",
    "output": "[Cause] This helped soften the blow of a weaker memory environment [Relation] cause [Effect] a roughly even split between memory and logic/foundry sales for Lam in calendar 2019",
    "gold": "[Cause] soften the blow of a weaker memory environment [Relation] cause [Effect]  a roughly even split between memory and logic/foundry sales for Lam in calendar 2019",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "We expect that United Airlines will participate in the recovery of business and international leisure travel after a vaccine for COVID-19 is well distributed.",
    "output": "[Cause] a vaccine for COVID-19 is well distributed [Relation] cause [Effect] United Airlines will participate in the recovery of business and international leisure travel",
    "gold": "[Cause] vaccine for COVID-19 is well distributed [Relation] cause [Effect] United Airlines will participate in the recovery of business and international leisure travel",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "The regional sports networks have commanded high affiliate fees, but distributors could refuse to pay these increasing costs or place the RSNs in a higher-price programming tier, which would diminish customer counts and thus hurt RSN revenue.",
    "output": "[Cause] distributors could refuse to pay these increasing costs or place the RSNs in a higher-price programming tier [Relation] cause [Effect] diminish customer counts and thus hurt RSN revenue",
    "gold": "[Cause] The regional sports networks have commanded high affiliate fees, but distributors could refuse to pay these increasing costs or place the RSNs in a higher-price programming tier [Relation] cause [Effect] hurt RSN revenue",
    "valid": false,
    "tag": "substr_invalid"
  },
  {
    "input": "To the extent that incrementally sufficient acreage isn't allocated to these rarer hop varieties, input cost inflation could constrain margin performance.",
    "output": "[Cause] incrementally sufficient acreage isn't allocated to these rarer hop varieties [Relation] cause [Effect] input cost inflation could constrain margin performance",
    "gold": "[Cause] incrementally sufficient acreage isn't allocated to these rarer hop varieties, input cost inflation [Relation] prevent [Effect] margin performance",
    "valid": false,
    "tag": "substr_invalid"
  },
  {
    "input": "A new client, for example, may go to IBM's GBS in search of an IT plan of attack which could lead to sales in all other parts of IBM's business: from using IBM IaaS, purchasing a new mainframe using IBM's financing capabilities, and even to using business intelligence software.",
    "output": "[Cause] A new client, for example, may go to IBM's GBS in search of an IT plan of attack [Relation] cause [Effect] sales in all other parts of IBM's business",
    "gold": "[Cause] A new client, for example, may go to IBM's GBS in search of an IT plan of attack [Relation] cause [Effect]  sales in all other parts of IBM's business: from using IBM IaaS, purchasing a new mainframe using IBM's financing capabilities, and even to using business intelligence software",
    "valid": false,
    "tag": "substr_invalid"
  },
  {
    "input": "Millicom's cable networks reach about a third of the population across its wireless footprint, but it plans to build to around 1 million new homes each year for the foreseeable future, tapping into pent-up demand for high-quality connectivity.",
    "output": "[Cause] tapping into pent-up demand for high-quality connectivity [Relation] cause [Effect] it plans to build to around 1 million new homes each year for the foreseeable future",
    "gold": "[Cause]  tapping into pent-up demand for high-quality connectivity [Relation] cause [Effect]  plans to build to around 1 million new homes each year for the foreseeable future",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "Prices are typically reset every two weeks, and depending on the magnitude of the inflation, it can take several weeks to fully pass the inflation through, which can lead to prolonged periods of margin compression.",
    "output": "[Cause] Prices are typically reset every two weeks, and depending on the magnitude of the inflation, it can take several weeks to fully pass the inflation through [Relation] cause [Effect] prolonged periods of margin compression",
    "gold": "[Cause] take several weeks to fully pass the inflation through [Relation] cause [Effect]  prolonged periods of margin compression",
    "valid": false,
    "tag": "substr_invalid"
  },
  {
    "input": "BorgWarner's ability to consistently innovate provides long-term pricing opportunities that, in conjunction with cost advantages derived from low-cost country locations, should support above-industry-average adjusted EBIT margins.",
    "output": "[Cause] BorgWarner's ability to consistently innovate [Relation] enable [Effect] long-term pricing opportunities",
    "gold": "[Cause] BorgWarner's ability to consistently innovate [Relation] enable [Effect] provides long-term pricing opportunities",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "We believe the strong brand equities of General Mills' and Kellogg's portfolios allow these brands to sell at a price premium, relative to the lower-tier offerings in the category including Post.",
    "output": "[Cause] the strong brand equities of General Mills' and Kellogg's portfolios [Relation] enable [Effect] these brands to sell at a price premium, relative to the lower-tier offerings in the category including Post",
    "gold": "[Cause] the strong brand equities of General Mills' and Kellogg's portfolios [Relation] enable [Effect] these brands to sell at a price premium",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "We expect operating margins in Eastman's chemical intermediates business to average around 10% as demand returns after the pandemic, partially offset by a lower spread between oil and natural gas.",
    "output": "[Cause] demand returns after the pandemic [Relation] cause [Effect] operating margins in Eastman's chemical intermediates business to average around 10%",
    "gold": "[Cause] demand returns after the pandemic, partially offset by a lower spread between oil and natural gas [Relation] cause [Effect] operating margins in Eastman's chemical intermediates business to average around 10%",
    "valid": false,
    "tag": "substr_invalid"
  },
  {
    "input": "Should the Western Digital be unable to successfully execute on its flash and SSD portfolio, or if it is unable to eke out improvements in HDD technology, it will be unlikely to generate profitable growth.",
    "output": "[Cause] the Western Digital be unable to successfully execute on its flash and SSD portfolio, or if it is unable to eke out improvements in HDD technology [Relation] cause [Effect] unlikely to generate profitable growth",
    "gold": "[Cause] Western Digital be unable to successfully execute on its flash and SSD portfolio, or if it is unable to eke out improvements in HDD technology [Relation] prevent [Effect] generate profitable growth",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "As such, we view Marathon's greatest competitive advantage, the ability to capitalize on a variety of discount crude streams, as weakened after the Andeavor acquisition.",
    "output": "[Cause] weakened after the Andeavor acquisition [Relation] cause [Effect] Marathon's greatest competitive advantage, the ability to capitalize on a variety of discount crude streams",
    "gold": "[Cause]  the Andeavor acquisition [Relation] prevent [Effect] the ability to capitalize on a variety of discount crude streams",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "We also think heavy vehicle electrification and renewable energy proliferation will lead to double-digit growth for the firm's sales into the industrial end market.",
    "output": "[Cause] heavy vehicle electrification and renewable energy proliferation [Relation] cause [Effect] double-digit growth for the firm's sales into the industrial end market",
    "gold": "[Cause] We also think heavy vehicle electrification and renewable energy proliferation [Relation] cause [Effect] double-digit growth for the firm's sales into the industrial end market",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "In 2015 and 2016, Barrick executed noncore asset sales, royalty streams, and other transactions to help drive leverage down to a more manageable level, raising more than $5 billion for debt reduction.",
    "output": "[Cause] In 2015 and 2016, Barrick executed noncore asset sales, royalty streams, and other transactions [Relation] enable [Effect] help drive leverage down to a more manageable level, raising more than $5 billion for debt reduction",
    "gold": "[Cause] Barrick executed noncore asset sales, royalty streams, and other transactions [Relation] enable [Effect]  drive leverage down to a more manageable level, raising more than $5 billion for debt reduction",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "That said, Jira can be integrated pretty smoothly with Azure DevOps, so a firm could use Jira at the developer level for its tools, and Azure DevOps for overall project management.",
    "output": "[Cause] Jira can be integrated pretty smoothly with Azure DevOps [Relation] enable [Effect] a firm could use Jira at the developer level for its tools, and Azure DevOps for overall project management",
    "gold": "[Cause] Jira can be integrated pretty smoothly with Azure DevOps [Relation] cause [Effect] a firm could use Jira at the developer level for its tools",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "UPS enjoys considerably lower unit and marginal costs than a potential new entrant because it processes millions of packages over a massive far-reaching delivery network that's marked by high fixed costs.",
    "output": "[Cause] it processes millions of packages over a massive far-reaching delivery network that's marked by high fixed costs [Relation] cause [Effect] UPS enjoys considerably lower unit and marginal costs than a potential new entrant",
    "gold": "[Cause] it processes millions of packages over a massive far-reaching delivery network [Relation] cause [Effect] UPS enjoys considerably lower unit and marginal costs than a potential new entrant",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "However, in the specialty products division, we believe that Church &amp; Dwight benefits from a small cost advantage stemming from its vertically integrated supply chain that allows the company a sourcing advantage for raw materials.",
    "output": "[Cause] Church &amp; Dwight benefits from a small cost advantage stemming from its vertically integrated supply chain [Relation] enable [Effect] the company a sourcing advantage for raw materials",
    "gold": "[Cause] in the specialty products division, we believe that Church &amp; Dwight benefits from a small cost advantage stemming from its vertically integrated supply chain [Relation] enable [Effect]  allows the company a sourcing advantage for raw materials",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "Although American Tower owns very little international land, those geographies pose less concern, because land is generally cheaper, and rents are directly passed on to carriers.",
    "output": "[Cause] land is generally cheaper, and rents are directly passed on to carriers [Relation] cause [Effect] Although American Tower owns very little international land, those geographies pose less concern",
    "gold": "[Cause] land is generally cheaper, and rents are directly passed on to carriers [Relation] cause [Effect] those geographies pose less concern",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "We forecast oil and gas output to grow at a 2.4% compound annual growth rate during our explicit forecast period, with rising gas production mitigating flat oil output.",
    "output": "[Cause] rising gas production mitigating flat oil output [Relation] cause [Effect] oil and gas output to grow at a 2.4% compound annual growth rate during our explicit forecast period",
    "gold": "[Cause]  rising gas production mitigating flat oil output [Relation] cause [Effect] oil and gas output to grow at a 2.4% compound annual growth rate",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "Intangible AssetsIn its markets in which it holds a commanding volume share, Ambev has relationships with its customers in both the on trade and off trade that allow it to react quickly to negative competitive events.",
    "output": "[Cause] Intangible AssetsIn its markets in which it holds a commanding volume share, Ambev has relationships with its customers in both the on trade and off trade [Relation] enable [Effect] allow it to react quickly to negative competitive events",
    "gold": "[Cause] Ambev has relationships with its customers in both the on trade and off trade [Relation] enable [Effect] react quickly to negative competitive events",
    "valid": false,
    "tag": "substr_invalid"
  },
  {
    "input": "On the wide-body side of the market, we anticipate much slower growth, as we expect improving technology will allow airlines to substitute narrow bodies for wide bodies for an increasing number of routes.",
    "output": "[Cause] improving technology [Relation] enable [Effect] airlines to substitute narrow bodies for wide bodies for an increasing number of routes",
    "gold": "[Cause] improving technology [Relation] cause [Effect] allow airlines to substitute narrow bodies for wide bodies for an increasing number of routes",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "Hormel holds the number-two spot in many other important categories, such as bacon, peanut butter, and chilled ready meals, which beefs up the consumer insights it is able to amass and share with its retail partners.",
    "output": "[Cause] Hormel holds the number-two spot in many other important categories, such as bacon, peanut butter, and chilled ready meals [Relation] enable [Effect] beefs up the consumer insights it is able to amass and share with its retail partners",
    "gold": "[Cause] Hormel holds the number-two spot in many other important categories [Relation] cause [Effect] beefs up the consumer insights it is able to amass and share with its retail partners",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "While we think the increasing popularity of yoga benefits Lululemon's brand given its close association with the practice, we acknowledge that it must invest to maintain this relationship due to intense competition.",
    "output": "[Cause] intense competition [Relation] cause [Effect] it must invest to maintain this relationship",
    "gold": "[Cause]  intense competition [Relation] cause [Effect] it must invest to maintain this relationship due to intense competition",
    "valid": false,
    "tag": "substr_invalid"
  },
  {
    "input": "That said, improvements to the Goderich mine should reduce unit costs over the next few years, which should drive meaningful salt segment operating earnings growth.",
    "output": "[Cause] improvements to the Goderich mine should reduce unit costs over the next few years [Relation] enable [Effect] meaningful salt segment operating earnings growth",
    "gold": "[Cause] reduce unit costs over the next few years [Relation] cause [Effect] drive meaningful salt segment operating earnings growth",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "Larger clients' cost-reduction steps have also forced WPP and the rest of the Big Five to further consolidate to create cost efficiencies over smaller ad agencies and minimize the impact of possibly lower prices offered by the clients.",
    "output": "[Cause] Larger clients' cost-reduction steps [Relation] cause [Effect] forced WPP and the rest of the Big Five to further consolidate to create cost efficiencies over smaller ad agencies and minimize the impact of possibly lower prices offered by the clients",
    "gold": "[Cause] Larger clients' cost-reduction steps [Relation] cause [Effect] WPP and the rest of the Big Five to further consolidate to create cost efficiencies over smaller ad agencies and minimize the impact of possibly lower prices offered by the clients",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "We forecast total operating expense to average 7.9% of total revenue over the next 10 years. As a result of our revenue and operating forecast, we project operating margins to reach 27.9% in 2030 from 22.6% in the prepandemic year of 2019.",
    "output": "[Cause] We forecast total operating expense to average 7.9% of total revenue over the next 10 years [Relation] cause [Effect] we project operating margins to reach 27.9% in 2030 from 22.6% in the prepandemic year of 2019",
    "gold": "[Cause] total operating expense to average 7.9% of total revenue over the next 10 years [Relation] cause [Effect]  operating margins to reach 27.9% in 2030 from 22.6% in the prepandemic year of 2019",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "However, given the reduction in capital, primarily in the Permian, growth will be tepid in the near term with flat volumes likely through 2021.",
    "output": "[Cause] the reduction in capital, primarily in the Permian [Relation] cause [Effect] growth will be tepid in the near term with flat volumes likely through 2021",
    "gold": "[Cause]  the reduction in capital [Relation] enable [Effect] growth will be tepid in the near term",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "CP has posted excellent margin improvement in recent years, especially in 2020, as it rightsized headcount and assets to demand levels.",
    "output": "[Cause] it rightsized headcount and assets to demand levels [Relation] cause [Effect] CP has posted excellent margin improvement in recent years, especially in 2020",
    "gold": "[Cause]  it rightsized headcount and assets to demand levels [Relation] cause [Effect] CP has posted excellent margin improvement in recent years",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "We model a return to growth as Brazil recovers from the economic impact of COVID-19 with loan growth averaging in the midsingle digits over the next five years.",
    "output": "[Cause] Brazil recovers from the economic impact of COVID-19 with loan growth averaging in the midsingle digits over the next five years [Relation] cause [Effect] We model a return to growth",
    "gold": "[Cause] Brazil recovers from the economic impact of COVID-19 [Relation] cause [Effect] a return to growth",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "The AcceleRide omnichannel platform should keep the firm competitive with new entrants to the online used-vehicle market such as Carvana but is also for new vehicles, service, and will buy vehicles from consumers.",
    "output": "[Cause] The AcceleRide omnichannel platform [Relation] enable [Effect] keep the firm competitive with new entrants to the online used-vehicle market such as Carvana but is also for new vehicles, service, and will buy vehicles from consumers",
    "gold": "[Cause] The AcceleRide omnichannel platform [Relation] enable [Effect] keep the firm competitive with new entrants to the online used-vehicle market",
    "valid": false,
    "tag": "substr_invalid"
  },
  {
    "input": "Nevertheless, the firm has meaningful scale advantages over the thousands of small craft breweries operating in the U.S., facilitating superior unit economics and stellar profitability that allows it to pivot its portfolio and go-to-market approach as necessary.",
    "output": "[Cause] the firm has meaningful scale advantages over the thousands of small craft breweries operating in the U.S., facilitating superior unit economics and stellar profitability [Relation] enable [Effect] pivot its portfolio and go-to-market approach as necessary",
    "gold": "[Cause] meaningful scale advantages over the thousands of small craft breweries operating in the U.S. [Relation] enable [Effect] facilitating superior unit economics and stellar profitability that allows it to pivot its portfolio and go-to-market approach as necessary",
    "valid": false,
    "tag": "substr_invalid"
  },
  {
    "input": "Over time, we believe the company will take on more life insurance customers as well since many of Guidewire's customers are multiline underwriters and offer commercial, personal, and life insurance policies.",
    "output": "[Cause] many of Guidewire's customers are multiline underwriters and offer commercial, personal, and life insurance policies [Relation] cause [Effect] the company will take on more life insurance customers as well",
    "gold": "[Cause]  many of Guidewire's customers are multiline underwriters and offer commercial, personal, and life insurance policies [Relation] cause [Effect]  the company will take on more life insurance customers",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "Like other LNG projects in Australia that were developed over the past decade, ConocoPhillips' APLNG facility struggled with cost inflation that ultimately resulted in impairment charges when oil prices fell.",
    "output": "[Cause] ConocoPhillips' APLNG facility struggled with cost inflation [Relation] cause [Effect] impairment charges when oil prices fell",
    "gold": "[Cause] ConocoPhillips' APLNG facility struggled with cost inflation [Relation] cause [Effect]  resulted in impairment charges when oil prices fell",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "Broader trucking industry issues such as limited driver availability, rising government regulation, and increasingly stringent truck emission standards are driving operating costs up for all carriers.",
    "output": "[Cause] Broader trucking industry issues such as limited driver availability, rising government regulation, and increasingly stringent truck emission standards [Relation] cause [Effect] driving operating costs up for all carriers",
    "gold": "[Cause] Broader trucking industry issues [Relation] cause [Effect] driving operating costs up for all carriers",
    "valid": false,
    "tag": "substr_invalid"
  },
  {
    "input": "Credit costs will likely increase as fiscal stimulus fades, but we do not expect this to materially threaten the company's balance sheet, which has only strengthened as the pandemic has dragged on.",
    "output": "[Cause] the pandemic has dragged on [Relation] cause [Effect] we do not expect this to materially threaten the company's balance sheet",
    "gold": "[Cause] the pandemic has dragged on [Relation] cause [Effect] we do not expect this to materially threaten the company's balance sheet, which has only strengthened",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "We do not anticipate digital rivals will upend the treasure-hunt experience, with memories of the pandemic eventually fading and vendors still looking to avoid the stigma of a visible discount presence to protect their full-price channel standing.",
    "output": "[Cause] vendors still looking to avoid the stigma of a visible discount presence to protect their full-price channel standing [Relation] cause [Effect] We do not anticipate digital rivals will upend the treasure-hunt experience",
    "gold": "[Cause]  with memories of the pandemic eventually fading and vendors still looking to avoid the stigma of a visible discount presence to protect their full-price channel standing [Relation] cause [Effect] digital rivals will upend the treasure-hunt experience",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "As the cloud theme has evolved it has become increasingly apparent that companies' IT environments will be hybrid-based for years to come.",
    "output": "[Cause] the cloud theme has evolved [Relation] cause [Effect] increasingly apparent that companies' IT environments will be hybrid-based for years to come",
    "gold": "[Cause]  the cloud theme has evolved [Relation] enable [Effect] companies' IT environments will be hybrid-based for years to come",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "Once a customer selects a specific taste, texture, or aroma solution, it is generally unwilling to switch suppliers on the basis of cost alone.",
    "output": "[Cause] Once a customer selects a specific taste, texture, or aroma solution [Relation] cause [Effect] it is generally unwilling to switch suppliers on the basis of cost alone",
    "gold": "[Cause]  a customer selects a specific taste, texture, or aroma solution [Relation] cause [Effect] it is generally unwilling to switch suppliers on the basis of cost alone",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "ICU's historical focus and status as the only large pure player has allowed it to focus on building out its consumables portfolio to include virtually all consumables and configurations.",
    "output": "[Cause] ICU's historical focus and status as the only large pure player [Relation] enable [Effect] it to focus on building out its consumables portfolio to include virtually all consumables and configurations",
    "gold": "[Cause] ICU's historical focus and status as the only large pure player [Relation] enable [Effect]  allowed it to focus on building out its consumables portfolio to include virtually all consumables and configurations.",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "We remain favorable about Stryker's longer-term prospects for revenue growth and profitability as procedure volume and healthcare utilization have demonstrated solid growth, and should continue to do so, this near-term pandemic situation notwithstanding.",
    "output": "[Cause] procedure volume and healthcare utilization have demonstrated solid growth, and should continue to do so [Relation] cause [Effect] We remain favorable about Stryker's longer-term prospects for revenue growth and profitability",
    "gold": "[Cause] procedure volume and healthcare utilization have demonstrated solid growth, and should continue to do so, this near-term pandemic situation notwithstanding [Relation] cause [Effect] remain favorable about Stryker's longer-term prospects for revenue growth and profitability",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "Indeed, if companies like Coca-Cola, PepsiCo, and Keurig Dr Pepper were to reduce their relative ad spending to National Beverage's historical averages, the absolute dollar amount would still dwarf anything the latter could feasibly deploy.",
    "output": "[Cause] companies like Coca-Cola, PepsiCo, and Keurig Dr Pepper were to reduce their relative ad spending to National Beverage's historical averages [Relation] cause [Effect] the absolute dollar amount would still dwarf anything the latter could feasibly deploy",
    "gold": "[Cause] companies like Coca-Cola, PepsiCo, and Keurig Dr Pepper were to reduce their relative ad spending to National Beverage's historical averages, the absolute dollar amount [Relation] enable [Effect] still dwarf anything the latter could feasibly deploy",
    "valid": false,
    "tag": "substr_invalid"
  },
  {
    "input": "During the next five years, we expect organic revenue growth of 5% compounded annually and margin improvement to help Centene increase earnings per share at 11% compounded annually.",
    "output": "[Cause] organic revenue growth of 5% compounded annually and margin improvement [Relation] enable [Effect] Centene increase earnings per share at 11% compounded annually",
    "gold": "[Cause] organic revenue growth of 5% compounded annually and margin improvement [Relation] cause [Effect] help Centene increase earnings per share at 11% compounded annually",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "During difficult economic periods, corporations and governments may choose to cut back or eliminate food-service programs altogether in order to preserve head count or other more necessary employee benefits.",
    "output": "[Cause] cut back or eliminate food-service programs altogether [Relation] enable [Effect] preserve head count or other more necessary employee benefits",
    "gold": "[Cause] During difficult economic periods, corporations and governments may choose to cut back or eliminate food-service programs altogether [Relation] enable [Effect] preserve head count or other more necessary employee benefits",
    "valid": false,
    "tag": "substr_invalid"
  },
  {
    "input": "However, technological advancement could result in an environment where those increasing needs come to fruition but data centers are not the beneficiaries.",
    "output": "[Cause] technological advancement [Relation] cause [Effect] an environment where those increasing needs come to fruition but data centers are not the beneficiaries",
    "gold": "[Cause] technological advancement [Relation] cause [Effect]  those increasing needs come to fruition but data centers are not the beneficiaries",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "That said, the company is at a lower risk of experiencing material financial impacts from ESG factors, due to its medium exposure to risks that are inherent to the industry, as well as its own operations, offset by the firm's strong management of its material ESG issues.",
    "output": "[Cause] its medium exposure to risks that are inherent to the industry, as well as its own operations, offset by the firm's strong management of its material ESG issues [Relation] cause [Effect] the company is at a lower risk of experiencing material financial impacts from ESG factors",
    "gold": "[Cause] its medium exposure to risks that are inherent to the industry, as well as its own operations [Relation] cause [Effect] the company is at a lower risk of experiencing material financial impacts from ESG factors",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "Because Fastenal's sales mix is increasingly skewing more toward large national accounts, on-site programs, and more price-competitive MRO products, the company's gross margins are likely to come under pressure.",
    "output": "[Cause] Fastenal's sales mix is increasingly skewing more toward large national accounts, on-site programs, and more price-competitive MRO products [Relation] cause [Effect] the company's gross margins are likely to come under pressure",
    "gold": "[Cause]  Fastenal's sales mix is increasingly skewing more toward large national accounts [Relation] cause [Effect] on-site programs, and more price-competitive MRO products, the company's gross margins are likely to come under pressure",
    "valid": false,
    "tag": "substr_invalid"
  },
  {
    "input": "Further, new low-cost mines coming on line in Saskatchewan (K+S) and Russia (EuroChem) will cause Mosaic's middling position on the cost curve to persist despite management's efforts to reduce costs.",
    "output": "[Cause] new low-cost mines coming on line in Saskatchewan (K+S) and Russia (EuroChem) [Relation] cause [Effect] Mosaic's middling position on the cost curve to persist",
    "gold": "[Cause] new low-cost mines coming on line in Saskatchewan (K+S) and Russia (EuroChem) [Relation] cause [Effect] cause Mosaic's middling position on the cost curve to persist",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "That said, freight demand has been rebounding nicely thus far in the second half and although macro risk lingers, we look for continued recovery in the quarters ahead as truckload capacity has tightnened materially, driving freight back to the rails while bolstering overall pricing.",
    "output": "[Cause] truckload capacity has tightnened materially, driving freight back to the rails while bolstering overall pricing [Relation] cause [Effect] freight demand has been rebounding nicely thus far in the second half and although macro risk lingers, we look for continued recovery in the quarters ahead",
    "gold": "[Cause]  truckload capacity has tightnened materially, driving freight back to the rails while bolstering overall pricing [Relation] enable [Effect] we look for continued recovery in the quarters ahead",
    "valid": false,
    "tag": "substr_invalid"
  },
  {
    "input": "While we believe Lennox's distribution model has aided in the firm's growth and improved profitability, it is difficult to quantify the direct financial impact.",
    "output": "[Cause] Lennox's distribution model [Relation] enable [Effect] aided in the firm's growth and improved profitability",
    "gold": "[Cause] Lennox's distribution model [Relation] cause [Effect] the firm's growth and improved profitability",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "We forecast operation and support costs as a percentage of revenue to reach 9% in 2030 versus 17% in the prepandemic year of 2019, as near-term trust and safety investments wane and automated customer service drives savings long term.",
    "output": "[Cause] near-term trust and safety investments wane and automated customer service drives savings long term [Relation] cause [Effect] We forecast operation and support costs as a percentage of revenue to reach 9% in 2030 versus 17% in the prepandemic year of 2019",
    "gold": "[Cause] near-term trust and safety investments wane and automated customer service drives savings long term [Relation] cause [Effect] operation and support costs as a percentage of revenue to reach 9% in 2030 versus 17% in the prepandemic year of 2019",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "Also, healthcare policy risks may plague health insurers like Cigna until affordable, universal coverage is achieved in the U.S., which is the key ESG risk facing this industry.",
    "output": "[Cause] healthcare policy risks may plague health insurers like Cigna until affordable, universal coverage is achieved in the U.S. [Relation] cause [Effect] the key ESG risk facing this industry",
    "gold": "[Cause] healthcare policy risks may plague health insurers like Cigna until affordable [Relation] enable [Effect] universal coverage is achieved in the U.S., which is the key ESG risk facing this industry.",
    "valid": false,
    "tag": "substr_invalid"
  },
  {
    "input": "The platform also provides predictive analytics and AI offerings that reduce issue resolution time, increase personalized services, and improve customer loyalty.",
    "output": "[Cause] The platform also provides predictive analytics and AI offerings [Relation] enable [Effect] reduce issue resolution time, increase personalized services, and improve customer loyalty",
    "gold": "[Cause] provides predictive analytics and AI offerings [Relation] enable [Effect]  reduce issue resolution time, increase personalized services, and improve customer loyalty.",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "We forecast operation and support costs as a percentage of revenue to reach 9% in 2029 versus 17% in 2019, as near-term trust and safety investments wane and automated customer service drives savings long term.",
    "output": "[Cause] near-term trust and safety investments wane and automated customer service drives savings long term [Relation] cause [Effect] We forecast operation and support costs as a percentage of revenue to reach 9% in 2029 versus 17% in 2019",
    "gold": "[Cause] near-term trust and safety investments wane and automated customer service drives savings long term [Relation] cause [Effect] operation and support costs as a percentage of revenue to reach 9% in 2029 versus 17% in 2019",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "Millicom has shown improvement in the country recently, gaining wireless share, but Colombia is set to become more competitive in 2021 with the entrance of Wom, an aggressive wireless competitor that has disrupted other markets around the world, including Chile.",
    "output": "[Cause] the entrance of Wom, an aggressive wireless competitor that has disrupted other markets around the world, including Chile [Relation] cause [Effect] Colombia is set to become more competitive in 2021",
    "gold": "[Cause] the entrance of Wom, an aggressive wireless competitor that has disrupted other markets around the world, including Chile [Relation] cause [Effect] become more competitive in 2021",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "The increased penetration of outsourcing since the economic downturn of 2008-09 gives us confidence that the biopharma industry is more dependent on CROs now than in the past.",
    "output": "[Cause] The increased penetration of outsourcing since the economic downturn of 2008-09 [Relation] enable [Effect] gives us confidence that the biopharma industry is more dependent on CROs now than in the past",
    "gold": "[Cause] The increased penetration of outsourcing since the economic downturn [Relation] enable [Effect] the biopharma industry is more dependent on CROs now than in the past",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "Low natural gas prices and increased Environmental Protection Agency regulations have put a material portion of the domestic utility coal franchise at risk of disappearing, and export coal demand is likely to see near term declines on sluggish demand for met coal linked to soft steel demand overseas.",
    "output": "[Cause] Low natural gas prices and increased Environmental Protection Agency regulations [Relation] cause [Effect] put a material portion of the domestic utility coal franchise at risk of disappearing",
    "gold": "[Cause] Low natural gas prices and increased Environmental Protection Agency regulations [Relation] prevent [Effect] a material portion of the domestic utility coal franchise",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "Low natural gas prices and increased Environmental Protection Agency regulations have put a material portion of the domestic utility coal franchise at risk of disappearing, and export coal demand is likely to see near term declines on sluggish demand for met coal linked to soft steel demand overseas.",
    "output": "[Cause] sluggish demand for met coal linked to soft steel demand overseas [Relation] cause [Effect] export coal demand is likely to see near term declines",
    "gold": "[Cause]  sluggish demand for met coal [Relation] prevent [Effect] export coal demand",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "Given the critical functions these machines perform, their high cost of failure, and a doctor's familiarity of use, hospitals loathe switching providers for a less expensive alternative.",
    "output": "[Cause] Given the critical functions these machines perform, their high cost of failure, and a doctor's familiarity of use [Relation] cause [Effect] hospitals loathe switching providers for a less expensive alternative",
    "gold": "[Cause] the critical functions these machines perform, their high cost of failure, and a doctor's familiarity of use [Relation] prevent [Effect] switching providers for a less expensive alternative",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "As the firm's user base strengthens, we expect fewer discount offerings, particularly to potential premium subscribers. For this reason, we expect premium ARPU to increase at a 2% 10-year CAGR to EUR 5.25 by 2030, from EUR 4.26 in 2020.",
    "output": "[Cause] the firm's user base strengthens, we expect fewer discount offerings, particularly to potential premium subscribers [Relation] cause [Effect] premium ARPU to increase at a 2% 10-year CAGR to EUR 5.25 by 2030, from EUR 4.26 in 2020",
    "gold": "[Cause] fewer discount offerings, particularly to potential premium subscribers [Relation] cause [Effect] premium ARPU to increase at a 2% 10-year CAGR to EUR 5.25 by 2030, from EUR 4.26 in 2020",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "Internet Content & InformationIn our view, IAC has invested in areas within ANGI Homeservices that have resulted in basically a feedback loop--attracting more service professionals who have helped bring in more consumers who in turn have attracted more service professionals, and so on, thereby strengthening ANGI's network effect.",
    "output": "[Cause] IAC has invested in areas within ANGI Homeservices [Relation] cause [Effect] a feedback loop--attracting more service professionals who have helped bring in more consumers who in turn have attracted more service professionals, and so on, thereby strengthening ANGI's network effect",
    "gold": "[Cause]  IAC has invested in areas within ANGI Homeservices [Relation] cause [Effect] attracting more service professionals",
    "valid": false,
    "tag": "substr_invalid"
  },
  {
    "input": "We expect this to provide management with the leverage to increase affiliate fees as the current carriage agreements continue to expire.",
    "output": "[Cause] the current carriage agreements continue to expire [Relation] cause [Effect] provide management with the leverage to increase affiliate fees",
    "gold": "[Cause] the current carriage agreements continue to expire [Relation] cause [Effect] We expect this to provide management with the leverage to increase affiliate fees",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "In these industries, Qorvo appears to be profiting from longer product life cycles and steadier pricing due to fewer volume discounts.",
    "output": "[Cause] fewer volume discounts [Relation] cause [Effect] Qorvo appears to be profiting from longer product life cycles and steadier pricing",
    "gold": "[Cause] fewer volume discounts [Relation] cause [Effect] longer product life cycles and steadier pricing",
    "valid": false,
    "tag": "substr_invalid"
  },
  {
    "input": "Also, once a drug's key patents expire, generic manufacturers often try to mimic the same production methods as the branded manufacturer to reduce product variability, and that adoption by generic manufacturers can create an even longer benefit period for Waters on a specific molecule.",
    "output": "[Cause] adoption by generic manufacturers [Relation] enable [Effect] create an even longer benefit period for Waters on a specific molecule",
    "gold": "[Cause] adoption by generic manufacturers [Relation] enable [Effect] an even longer benefit period for Waters on a specific molecule",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "In addition, Verizon's relatively straightforward corporate history and consistently strong financial position have enabled it to deploy its network in a highly coordinated manner over the past 15 years, making it more efficient on average than its rivals.",
    "output": "[Cause] Verizon's relatively straightforward corporate history and consistently strong financial position [Relation] enable [Effect] it to deploy its network in a highly coordinated manner over the past 15 years, making it more efficient on average than its rivals",
    "gold": "[Cause] Verizon's relatively straightforward corporate history and consistently strong financial position have enabled it to deploy its network in a highly coordinated manner over the past 15 years [Relation] cause [Effect] making it more efficient on average than its rivals",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "As the company offers a wider set of related and best-in-class solutions, we believe it becomes more deeply entrenched in its customers as they adopt multiple clouds.",
    "output": "[Cause] the company offers a wider set of related and best-in-class solutions [Relation] cause [Effect] it becomes more deeply entrenched in its customers as they adopt multiple clouds",
    "gold": "[Cause] offers a wider set of related and best-in-class solutions [Relation] cause [Effect]  becomes more deeply entrenched",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "We're modeling 2021 adjusted net operating margin (EBIT/net revenue, including stock comp and amortization) improvement to 11.6% from a depressed 7.5% thanks to strong net revenue growth and ongoing productivity gains from rising back-office automation.",
    "output": "[Cause] strong net revenue growth and ongoing productivity gains from rising back-office automation [Relation] cause [Effect] 2021 adjusted net operating margin (EBIT/net revenue, including stock comp and amortization) improvement to 11.6% from a depressed 7.5%",
    "gold": "[Cause] strong net revenue growth and ongoing productivity gains from rising back-office automation [Relation] enable [Effect] We're modeling 2021 adjusted net operating margin (EBIT/net revenue, including stock comp and amortization) improvement to 11.6% from a depressed 7.5%",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "We saw EDU's margin improvement in fiscal first-quarter 2021, given that we expect no more discounts will be provided to the students as China restore their normal business practice post-COVID-19.",
    "output": "[Cause] China restore their normal business practice post-COVID-19 [Relation] cause [Effect] no more discounts will be provided to the students",
    "gold": "[Cause] China restore their normal business practice post-COVID-19 [Relation] cause [Effect] we expect no more discounts will be provided to the students",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "For Hain to gain a competitive edge through established retail relationships, we believe it would have to have market-leading positions in categories that represent a material portion of retailer revenue or in categories that represent high growth or high margins for the retailers.",
    "output": "[Cause] it would have to have market-leading positions in categories that represent a material portion of retailer revenue or in categories that represent high growth or high margins for the retailers [Relation] enable [Effect] Hain to gain a competitive edge through established retail relationships",
    "gold": "[Cause] have market-leading positions in categories |  represent high growth or high margins for the retailers. [Relation] cause [Effect]  gain a competitive edge through established retail relationships",
    "valid": false,
    "tag": "substr_invalid"
  },
  {
    "input": "This is a network effect throughout Match Group's entire portfolio and not just one product, driven by timely marketing and upselling to users of Match Group's different offerings.",
    "output": "[Cause] driven by timely marketing and upselling to users of Match Group's different offerings [Relation] cause [Effect] This is a network effect throughout Match Group's entire portfolio and not just one product",
    "gold": "[Cause] timely marketing and upselling to users of Match Group's different offerings [Relation] enable [Effect] a network effect throughout Match Group's entire portfolio and not just one product",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "We do not include unannounced acquisitions or divestitures in our forecast given their uncertain timing and nature.",
    "output": "[Cause] their uncertain timing and nature [Relation] cause [Effect] We do not include unannounced acquisitions or divestitures in our forecast",
    "gold": "[Cause] their uncertain timing and nature [Relation] cause [Effect]  do not include unannounced acquisitions or divestitures in our forecast",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "Due to the nature of CGI's contracts (many of which are long-term), revenue recognition is delayed as the company uses the percentage-of-completion method, which is measured by labor costs/hours to measure progress to completion.",
    "output": "[Cause] the nature of CGI's contracts (many of which are long-term) [Relation] cause [Effect] revenue recognition is delayed as the company uses the percentage-of-completion method, which is measured by labor costs/hours to measure progress to completion",
    "gold": "[Cause] the nature of CGI's contracts [Relation] cause [Effect] revenue recognition is delayed as the company uses the percentage-of-completion method",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "Brand Intangible Assets: Potentially offsetting the challenge of generating economic profit from regulation intangibles, we think that the creation of brand intangibles would help cannabis companies pass the increased cost to consumers, thus protecting their own economic profit.",
    "output": "[Cause] Brand Intangible Assets [Relation] prevent [Effect] the challenge of generating economic profit from regulation intangibles",
    "gold": "[Cause] Brand Intangible Assets [Relation] enable [Effect] Potentially offsetting the challenge of generating economic profit from regulation intangibles",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "Brand Intangible Assets: Potentially offsetting the challenge of generating economic profit from regulation intangibles, we think that the creation of brand intangibles would help cannabis companies pass the increased cost to consumers, thus protecting their own economic profit.",
    "output": "[Cause] the creation of brand intangibles [Relation] enable [Effect] cannabis companies pass the increased cost to consumers",
    "gold": "[Cause] the creation of brand intangibles [Relation] enable [Effect] help cannabis companies pass the increased cost to consumers",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "The pandemic accelerated Moderna's evolution into a commercial-stage biotech, and we expect that the firm's ramp-up in manufacturing and clinical know-how will pave the way for faster timelines for additional programs.",
    "output": "[Cause] The pandemic accelerated Moderna's evolution into a commercial-stage biotech [Relation] cause [Effect] the firm's ramp-up in manufacturing and clinical know-how will pave the way for faster timelines for additional programs",
    "gold": "[Cause] The pandemic accelerated Moderna's evolution into a commercial-stage biotech [Relation] cause [Effect] we expect that the firm's ramp-up in manufacturing and clinical know-how will pave the way for faster timelines for additional programs",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "Kroger's grocery stores are often paired with fuel stations and a pharmacy, both of which we believe add recurring customer traffic and further embed the company's stores into shoppers' daily routines.",
    "output": "[Cause] Kroger's grocery stores are often paired with fuel stations and a pharmacy [Relation] enable [Effect] add recurring customer traffic and further embed the company's stores into shoppers' daily routines",
    "gold": "[Cause] Kroger's grocery stores are often paired with fuel stations and a pharmacy [Relation] cause [Effect] both of which we believe add recurring customer traffic and further embed the company's stores into shoppers' daily routines",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "Additionally, Teva's first-to-file pipeline and manufacturing capabilities for more complex products help the company differentiate from the more heavily commoditized aspects of the industry.",
    "output": "[Cause] Teva's first-to-file pipeline and manufacturing capabilities for more complex products [Relation] enable [Effect] the company differentiate from the more heavily commoditized aspects of the industry",
    "gold": "[Cause] Teva's first-to-file pipeline and manufacturing capabilities for more complex products [Relation] enable [Effect] help the company differentiate from the more heavily commoditized aspects of the industry",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "We expect prudent cost-control measures, combined with the pace of revenue growth, to expand GAAP operating margin beyond break-even in 2023 versus the 14% loss in 2020 (non-GAAP operating margin increasing beyond 20% versus 8% in 2020).",
    "output": "[Cause] prudent cost-control measures, combined with the pace of revenue growth [Relation] enable [Effect] expand GAAP operating margin beyond break-even in 2023 versus the 14% loss in 2020 (non-GAAP operating margin increasing beyond 20% versus 8% in 2020)",
    "gold": "[Cause] prudent cost-control measures, combined with the pace of revenue growth [Relation] enable [Effect] expand GAAP operating margin",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "These shortfalls should begin to affect price negotiations in the next couple years, since utilities tend to secure supplies a few years before actual use.",
    "output": "[Cause] utilities tend to secure supplies a few years before actual use [Relation] cause [Effect] These shortfalls should begin to affect price negotiations in the next couple years",
    "gold": "[Cause]  since utilities tend to secure supplies a few years before actual use [Relation] cause [Effect] These shortfalls should begin to affect price negotiations in the next couple years",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "As a result of the acquisition of the legacy Caesars business by Eldorado (closed July 2020), we estimate Caesars holds more than a 10% revenue share of the domestic casino gaming market; this represents around 100% of the company's total EBITDA.",
    "output": "[Cause] the acquisition of the legacy Caesars business by Eldorado (closed July 2020) [Relation] cause [Effect] Caesars holds more than a 10% revenue share of the domestic casino gaming market",
    "gold": "[Cause]  the acquisition of the legacy Caesars business by Eldorado [Relation] cause [Effect] Caesars holds more than a 10% revenue share of the domestic casino gaming market",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "Single filters typically cost less than $0.50, which we believe makes it less likely that Apple and its competitors will prioritize cost over performance when selecting filters.",
    "output": "[Cause] Single filters typically cost less than $0.50 [Relation] cause [Effect] less likely that Apple and its competitors will prioritize cost over performance when selecting filters",
    "gold": "[Cause] Single filters typically cost less than $0.50 [Relation] cause [Effect] prioritize cost over performance when selecting filters",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "STMicro had some struggles in years past, regularly failing to earn robust profitability due to investments in money-losing digital chip businesses and share loss in other chip products, among other stumbling blocks.",
    "output": "[Cause] investments in money-losing digital chip businesses and share loss in other chip products, among other stumbling blocks [Relation] cause [Effect] STMicro had some struggles in years past, regularly failing to earn robust profitability",
    "gold": "[Cause]  investments in money-losing digital chip businesses and share loss in other chip products [Relation] prevent [Effect] failing to earn robust profitability",
    "valid": false,
    "tag": "substr_invalid"
  },
  {
    "input": "We expect the impact from TI and lingering COVID-19 effects to weigh on fiscal 2021 revenue as we model another sales decline of 7%.",
    "output": "[Cause] we model another sales decline of 7% [Relation] cause [Effect] the impact from TI and lingering COVID-19 effects to weigh on fiscal 2021 revenue",
    "gold": "[Cause] we model another sales decline of 7% [Relation] cause [Effect] We expect the impact from TI and lingering COVID-19 effects to weigh on fiscal 2021 revenue",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "We anticipate consolidated operating margins will expand to 13.5% in the long term, from 9% in 2019, due largely to slightly higher prices and lower expenses.",
    "output": "[Cause] slightly higher prices and lower expenses [Relation] cause [Effect] consolidated operating margins will expand to 13.5% in the long term, from 9% in 2019",
    "gold": "[Cause] largely to slightly higher prices and lower expenses [Relation] enable [Effect] consolidated operating margins will expand to 13.5% in the long term, from 9% in 2019",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "In a similar manner to the company's hardware products, the mission-critical nature of these solutions, the impacts of needed down-time to implement a competing solution, along with training costs for personnel, would make it difficult for a customer to switch to a competing offering.",
    "output": "[Cause] the mission-critical nature of these solutions, the impacts of needed down-time to implement a competing solution, along with training costs for personnel [Relation] cause [Effect] make it difficult for a customer to switch to a competing offering",
    "gold": "[Cause] the mission-critical nature of these solutions, the impacts of needed down-time to implement a competing solution, along with training costs for personnel [Relation] cause [Effect] difficult for a customer to switch to a competing offering",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "Twitter and its advertising clients utilize the interest graph to insert targeted and more relevant display and video native ads in each user's Twitter timeline, possibly generating higher returns on investment for advertisers.",
    "output": "[Cause] insert targeted and more relevant display and video native ads in each user's Twitter timeline [Relation] enable [Effect] generating higher returns on investment for advertisers",
    "gold": "[Cause] Twitter and its advertising clients utilize the interest graph to insert targeted and more relevant display and video native ads in each user's Twitter timeline [Relation] enable [Effect] generating higher returns on investment for advertisers",
    "valid": false,
    "tag": "substr_invalid"
  },
  {
    "input": "The Charter acquisition led to depressed returns on invested capital including goodwill, which declined Specialty Industrial Machineryto the midsingle digits in recent years.",
    "output": "[Cause] The Charter acquisition [Relation] cause [Effect] depressed returns on invested capital including goodwill, which declined Specialty Industrial Machineryto the midsingle digits in recent years",
    "gold": "[Cause] The Charter acquisition led to depressed returns on invested capital including goodwill [Relation] cause [Effect] which declined Specialty Industrial Machineryto the midsingle digits in recent years",
    "valid": false,
    "tag": "substr_invalid"
  },
  {
    "input": "Although these segments haven't seen growth as consistent as that of the pet business, they generally offer fatter margins and we anticipate many years of growth ahead as rising incomes in emerging markets feed an appetite for animal protein.",
    "output": "[Cause] rising incomes in emerging markets feed an appetite for animal protein [Relation] cause [Effect] many years of growth ahead",
    "gold": "[Cause]  rising incomes in emerging markets feed an appetite for animal protein [Relation] cause [Effect]  they generally offer fatter margins and we anticipate many years of growth ahead",
    "valid": false,
    "tag": "substr_invalid"
  },
  {
    "input": "Similarly, as a firm that supplies products to ensure the smooth and efficient operation of global supply chains, trade and tariff talks represent a continual threat (as well as an opportunity).",
    "output": "[Cause] a firm that supplies products to ensure the smooth and efficient operation of global supply chains [Relation] cause [Effect] trade and tariff talks represent a continual threat (as well as an opportunity)",
    "gold": "[Cause] supplies products to ensure the smooth and efficient operation of global supply chains [Relation] cause [Effect] trade and tariff talks represent a continual threat",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "With the rise of the importance of more focused marketing and return on investment (ROI) for advertisers, Weibo has started to catch up.",
    "output": "[Cause] the rise of the importance of more focused marketing and return on investment (ROI) for advertisers [Relation] cause [Effect] Weibo has started to catch up",
    "gold": "[Cause] With the rise of the importance of more focused marketing and return on investment (ROI) for advertisers [Relation] cause [Effect] Weibo has started to catch up",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "Researchers tend to focus on the same disease or even the same gene for their entire careers, which makes it less likely that clients would have an opportunity to shift model suppliers simply due to a new project.",
    "output": "[Cause] Researchers tend to focus on the same disease or even the same gene for their entire careers [Relation] cause [Effect] less likely that clients would have an opportunity to shift model suppliers simply due to a new project",
    "gold": "[Cause] Researchers tend to focus on the same disease or even the same gene for their entire careers [Relation] cause [Effect] it less likely that clients would have an opportunity to shift model suppliers simply due to a new project",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "The technical requirements and complexity to satisfy defense contracts create a high barrier to entry, making it difficult for new entrants to enter the segment.",
    "output": "[Cause] The technical requirements and complexity to satisfy defense contracts [Relation] cause [Effect] a high barrier to entry",
    "gold": "[Cause] The technical requirements and complexity to satisfy defense contracts [Relation] cause [Effect]  create a high barrier to entry",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "The technical requirements and complexity to satisfy defense contracts create a high barrier to entry, making it difficult for new entrants to enter the segment.",
    "output": "[Cause] The technical requirements and complexity to satisfy defense contracts create a high barrier to entry [Relation] cause [Effect] difficult for new entrants to enter the segment",
    "gold": "[Cause]  create a high barrier to entry [Relation] cause [Effect]  making it difficult for new entrants to enter the segment",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "As Workday's core addressable market continues to expand and Workday finds adoption of its new products to be strong, the company is poised for continued robust top-line growth, in our view, and strengthening switching costs.",
    "output": "[Cause] Workday's core addressable market continues to expand and Workday finds adoption of its new products to be strong [Relation] enable [Effect] the company is poised for continued robust top-line growth",
    "gold": "[Cause]  adoption of its new products to be strong [Relation] cause [Effect]  the company is poised for continued robust top-line growth, in our view, and strengthening switching costs",
    "valid": false,
    "tag": "substr_invalid"
  },
  {
    "input": "Morgan Stanley and UBS have left the protocol for broker recruiting, and this could stymie firms like Raymond James from recruiting their advisors.",
    "output": "[Cause] Morgan Stanley and UBS have left the protocol for broker recruiting [Relation] cause [Effect] stymie firms like Raymond James from recruiting their advisors",
    "gold": "[Cause] Morgan Stanley and UBS have left the protocol for broker recruiting [Relation] prevent [Effect] firms like Raymond James from recruiting their advisors",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "Scale matters in route-based businesses (in this case, collection through disposal) because it provides greater utilization and leverage over a vast cost base (costs linked to landfill ownership, collection equipment, transfer facilities, and so on).",
    "output": "[Cause] it provides greater utilization and leverage over a vast cost base [Relation] cause [Effect] Scale matters in route-based businesses (in this case, collection through disposal)",
    "gold": "[Cause] it provides greater utilization and leverage over a vast cost base (costs linked to landfill ownership, collection equipment, transfer facilities, and so on) [Relation] cause [Effect] Scale matters in route-based businesses",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "Uniformity in the process and machinery to convert pulp into containerboard components results in a flat cost curve regionally, making it hard for anybody to sustain a cost advantage.",
    "output": "[Cause] Uniformity in the process and machinery to convert pulp into containerboard components results in a flat cost curve regionally [Relation] cause [Effect] it hard for anybody to sustain a cost advantage",
    "gold": "[Cause] a flat cost curve regionally [Relation] prevent [Effect] anybody to sustain a cost advantage",
    "valid": false,
    "tag": "substr_invalid"
  },
  {
    "input": "We think this is important because as technology plays an increasing role in the industrial Internet of Things race, having workers trained and comfortable with that technology becomes increasingly critical. Consequently, this allows for reduction in both training and maintenance expenses, and makes it easier to communicate across the different cells of a manufacturing facility.",
    "output": "[Cause] technology plays an increasing role in the industrial Internet of Things race, having workers trained and comfortable with that technology becomes increasingly critical [Relation] cause [Effect] this allows for reduction in both training and maintenance expenses, and makes it easier to communicate across the different cells of a manufacturing facility",
    "gold": "[Cause] this is important because as technology plays an increasing role in the industrial Internet of Things race, having workers trained and comfortable with that technology becomes increasingly critical [Relation] cause [Effect] this allows for reduction in both training and maintenance expenses, and makes it easier to communicate across the different cells of a manufacturing facility",
    "valid": false,
    "tag": "substr_invalid"
  },
  {
    "input": "While valuation is high relative to peers, we would argue deservedly so given the company's strong market position and superior growth prospects, we acknowledge that any execution misstep or issue that arises during quarterly earnings updates is likely to have a magnified impact on the shares.",
    "output": "[Cause] the company's strong market position and superior growth prospects [Relation] cause [Effect] we acknowledge that any execution misstep or issue that arises during quarterly earnings updates is likely to have a magnified impact on the shares",
    "gold": "[Cause]  the company's strong market position and superior growth prospect [Relation] cause [Effect] we acknowledge that any execution misstep or issue that arises during quarterly earnings updates is likely to have a magnified impact on the shares",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "As a result of this high dependence on top customers, Synopsys cannot exercise a high degree of pricing power and risk losing business to competitors.",
    "output": "[Cause] this high dependence on top customers [Relation] cause [Effect] Synopsys cannot exercise a high degree of pricing power and risk losing business to competitors",
    "gold": "[Cause] As a result of this high dependence on top customers [Relation] cause [Effect] Synopsys cannot exercise a high degree of pricing power and risk losing business to competitors",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "While we expect the consumer cybersecurity market to remain highly competitive, NortonLifeLock is combining antivirus and identity protection into a holistic offering to provide a unique competitive advantage within consumer safety.",
    "output": "[Cause] NortonLifeLock is combining antivirus and identity protection into a holistic offering [Relation] enable [Effect] provide a unique competitive advantage within consumer safety",
    "gold": "[Cause] NortonLifeLock is combining antivirus and identity protection into a holistic [Relation] enable [Effect] provide a unique competitive advantage within consumer safety",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "The long-term goal is for vehicles that share a platform to have 70%-80% common parts. This efficiency will increase the risk of a major recall, but we think it's necessary to keep pace with competitors.",
    "output": "[Cause] The long-term goal is for vehicles that share a platform to have 70%-80% common parts [Relation] cause [Effect] increase the risk of a major recall",
    "gold": "[Cause] The long-term goal is for vehicles that share a platform to have 70%-80% common parts [Relation] cause [Effect]  increase the risk of a major recall, but we think it's necessary to keep pace with competitors",
    "valid": false,
    "tag": "substr_invalid"
  },
  {
    "input": "Although we expect employment growth in the near term to be challenged, we expect job growth to start picking up in 2021.",
    "output": "[Cause] employment growth in the near term to be challenged [Relation] cause [Effect] job growth to start picking up in 2021",
    "gold": "[Cause] we expect employment growth in the near term to be challenged [Relation] enable [Effect] we expect job growth to start picking up in 2021",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "We note that from 2014 to 2016, ROIC including goodwill fell nearly 4 points as the price of oil fell precipitously in those intervening years.",
    "output": "[Cause] the price of oil fell precipitously in those intervening years [Relation] cause [Effect] ROIC including goodwill fell nearly 4 points",
    "gold": "[Cause] the price of oil fell precipitously in those intervening years [Relation] cause [Effect] from 2014 to 2016, ROIC including goodwill fell nearly 4 points",
    "valid": false,
    "tag": "substr_invalid"
  },
  {
    "input": "We anticipate mix shift to higher-margin products such as UroLift and Manta will drive higher gross margin in the coming years.",
    "output": "[Cause] mix shift to higher-margin products such as UroLift and Manta [Relation] enable [Effect] higher gross margin in the coming years",
    "gold": "[Cause] mix shift to higher-margin products such as UroLift and Manta [Relation] cause [Effect] drive higher gross margin in the coming years",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "We think the increased importance of direct to consumer sales allowed Ralph Lauren better control of pricing and its brand.",
    "output": "[Cause] the increased importance of direct to consumer sales [Relation] enable [Effect] Ralph Lauren better control of pricing and its brand",
    "gold": "[Cause] We think the increased importance of direct to consumer sales [Relation] enable [Effect] allowed Ralph Lauren better control of pricing and its brand",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "The firm's fiber network penetrates deeply into residential areas, providing an opportunity to either build a wireless network or partner closely with an existing carrier.",
    "output": "[Cause] The firm's fiber network penetrates deeply into residential areas [Relation] enable [Effect] providing an opportunity to either build a wireless network or partner closely with an existing carrier",
    "gold": "[Cause] The firm's fiber network penetrates deeply into residential areas [Relation] enable [Effect]  either build a wireless network or partner closely with an existing carrier",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "It has been improving its technology such as an AI-assisted chat box function to reduce staff costs and boost efficiency, which will help boost margin.",
    "output": "[Cause] improving its technology [Relation] enable [Effect] reduce staff costs and boost efficiency",
    "gold": "[Cause] It has been improving its technology such as an AI-assisted chat box function [Relation] enable [Effect]  reduce staff costs and boost efficiency",
    "valid": false,
    "tag": "substr_invalid"
  },
  {
    "input": "This spurred CMS' plan for $7 billion of investment in 2014-18 and $12 billion plan for the next five years, all accretive to earnings and shareholder value.",
    "output": "[Cause] This spurred CMS' plan for $7 billion of investment in 2014-18 and $12 billion plan for the next five years [Relation] enable [Effect] all accretive to earnings and shareholder value",
    "gold": "[Cause]  CMS' plan for $7 billion of investment in 2014-18 and $12 billion plan for the next five years [Relation] enable [Effect] accretive to earnings and shareholder value",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "A wide variety of wireless spectrum frequencies (roughly 50 bands) and RF filters are required for each of these bands to precisely process wireless signals in LTE networks.",
    "output": "[Cause] A wide variety of wireless spectrum frequencies (roughly 50 bands) and RF filters are required for each of these bands [Relation] enable [Effect] precisely process wireless signals in LTE networks",
    "gold": "[Cause] A wide variety of wireless spectrum frequencies (roughly 50 bands) and RF filters are required [Relation] enable [Effect] precisely process wireless signals",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "The increase is from lowering our weighted average cost of capital by 30 basis points to 10.0% due to lowering our cost of debt to match our model's suggested credit risk rating.",
    "output": "[Cause] lowering our cost of debt to match our model's suggested credit risk rating [Relation] cause [Effect] The increase is from lowering our weighted average cost of capital by 30 basis points to 10.0%",
    "gold": "[Cause] lowering our cost of debt [Relation] cause [Effect] lowering our weighted average cost of capital",
    "valid": false,
    "tag": "substr_invalid"
  },
  {
    "input": "We think SBA will have more opportunity to build and buy towers in international markets, as carriers more fully develop their geographic coverage areas and move to 4G.",
    "output": "[Cause] carriers more fully develop their geographic coverage areas and move to 4G [Relation] cause [Effect] SBA will have more opportunity to build and buy towers in international markets",
    "gold": "[Cause] carriers more fully develop their geographic coverage areas and move to 4G [Relation] enable [Effect] We think SBA will have more opportunity to build and buy towers in international markets",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "We expect that the 737 MAX will receive an airworthiness directive by the fourth quarter of 2020, which would provide Spirit with a large revenue runway from Boeing's sizable backlog.",
    "output": "[Cause] the 737 MAX will receive an airworthiness directive by the fourth quarter of 2020 [Relation] enable [Effect] provide Spirit with a large revenue runway from Boeing's sizable backlog",
    "gold": "[Cause] the 737 MAX will receive an airworthiness directive by the fourth quarter of 2020 [Relation] enable [Effect] Spirit with a large revenue runway from Boeing's sizable backlog",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "In our view, these various customer verticals, with assorted collaborative efforts, could make Juniper's product strategy and selling efforts misaligned with customer requirements.",
    "output": "[Cause] these various customer verticals, with assorted collaborative efforts [Relation] cause [Effect] Juniper's product strategy and selling efforts misaligned with customer requirements",
    "gold": "[Cause] various customer verticals [Relation] cause [Effect] make Juniper's product strategy and selling efforts misaligned with customer requirements",
    "valid": false,
    "tag": "substr_invalid"
  },
  {
    "input": "In our view, these various customer verticals, with assorted collaborative efforts, could make Juniper's product strategy and selling efforts misaligned with customer requirements.",
    "output": "[Cause] these various customer verticals, with assorted collaborative efforts [Relation] cause [Effect] Juniper's product strategy and selling efforts misaligned with customer requirements",
    "gold": "[Cause] assorted collaborative efforts [Relation] cause [Effect] make Juniper's product strategy and selling efforts misaligned with customer requirements",
    "valid": false,
    "tag": "substr_invalid"
  },
  {
    "input": "Furthermore, we think additional emissions regulation by government authorities will likely be introduced gradually over the next decade. This will give Cummins time to continue evolving the sustainability of its products and reducing its impact on the environment.",
    "output": "[Cause] additional emissions regulation by government authorities will likely be introduced gradually over the next decade [Relation] enable [Effect] Cummins time to continue evolving the sustainability of its products and reducing its impact on the environment",
    "gold": "[Cause] additional emissions regulation by government authorities will likely be introduced gradually over the next decade [Relation] enable [Effect] give Cummins time to continue evolving the sustainability of its products and reducing its impact on the environment",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "Given the recent consolidation in the space, we expect smaller competitors will struggle to disrupt Cushman &amp; Wakefield's market-leading position, which it shares with rivals CBRE and Jones Lang LaSalle, or JLL.",
    "output": "[Cause] the recent consolidation in the space [Relation] cause [Effect] smaller competitors will struggle to disrupt Cushman &amp; Wakefield's market-leading position",
    "gold": "[Cause] the recent consolidation in the space [Relation] cause [Effect] we expect smaller competitors will struggle to disrupt Cushman &amp; Wakefield's market-leading position, which it shares with rivals CBRE and Jones Lang LaSalle, or JLL",
    "valid": false,
    "tag": "substr_invalid"
  },
  {
    "input": "This unlocks Polaris ability to continue to serially acquire strategic businesses (with opportunities likely in the boat segment and parts and accessories segment), which could help stimulate incremental demand.",
    "output": "[Cause] This unlocks Polaris ability to continue to serially acquire strategic businesses (with opportunities likely in the boat segment and parts and accessories segment) [Relation] enable [Effect] stimulate incremental demand",
    "gold": "[Cause] Polaris ability to continue to serially acquire strategic businesses [Relation] cause [Effect] stimulate incremental demand",
    "valid": false,
    "tag": "substr_invalid"
  },
  {
    "input": "We think capital expenditures will be roughly $3 billion at midcycle, about a billion less than the trailing five-year average, due to the airline having completed its fleet renewal.",
    "output": "[Cause] the airline having completed its fleet renewal [Relation] cause [Effect] capital expenditures will be roughly $3 billion at midcycle, about a billion less than the trailing five-year average",
    "gold": "[Cause] the airline having completed its fleet renewal [Relation] cause [Effect] about a billion less than the trailing five-year average",
    "valid": false,
    "tag": "substr_invalid"
  },
  {
    "input": "We believe Invesco should be able to keep operating margins at a slightly higher level than it has historically (in a 25%-28% range longer term) but that the pressure of fee compression and industry competition will weigh on results in the long run.",
    "output": "[Cause] the pressure of fee compression and industry competition [Relation] prevent [Effect] results in the long run",
    "gold": "[Cause] the pressure of fee compression and industry competition [Relation] cause [Effect] weigh on results in the long run",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "The dealer knows the vehicle, and comparison-shopping for repair work is very time-consuming because the customer has to bring the vehicle to each shop to get a quote.",
    "output": "[Cause] the customer has to bring the vehicle to each shop to get a quote [Relation] cause [Effect] comparison-shopping for repair work is very time-consuming",
    "gold": "[Cause] the customer has to bring the vehicle to each shop to get a quote [Relation] cause [Effect]  the vehicle, and comparison-shopping for repair work is very time-consuming",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "Large global CROs, such as Syneos, 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 Syneos, have developed regulatory expertise and proprietary data [Relation] enable [Effect] drugs to reach the market faster",
    "gold": "[Cause] Large global CROs [Relation] enable [Effect] produce the best trial designs and enroll patients into trials quickly and efficiently, which allows drugs to reach the market faster",
    "valid": false,
    "tag": "substr_invalid"
  },
  {
    "input": "In academic and professional learning (36% of fiscal 2020 revenue), we see continued but moderating declines in publishing (temporarily exacerbated by the COVID-19 outbreak forcing some classes online) offsetting growth in courseware, corporate learning, test preparation, and other more advantaged businesses.",
    "output": "[Cause] continued but moderating declines in publishing [Relation] prevent [Effect] growth in courseware, corporate learning, test preparation, and other more advantaged businesses",
    "gold": "[Cause] continued but moderating declines in publishing [Relation] cause [Effect] offsetting growth in courseware, corporate learning, test preparation, and other more advantaged businesses",
    "valid": true,
    "tag": "substr_valid"
  },
  {
    "input": "TC Energy's profitability is not directly tied to commodity prices, because pipeline transportation costs are not tied to the price of natural gas and crude oil.",
    "output": "[Cause] pipeline transportation costs are not tied to the price of natural gas and crude oil [Relation] cause [Effect] TC Energy's profitability is not directly tied to commodity prices",
    "gold": "[Cause] pipeline transportation costs are not tied to the price of natural gas and crude oil [Relation] cause [Effect] TC Energy's profitability is not directly tied to commodity prices",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We are keeping our fair value estimate for Danaher at $160 per share after raising it in January 2021 to reflect recently generated cash flows and our higher near-term outlook primarily for its tools used to diagnose and develop products to treat COVID-19.",
    "output": "[Cause] recently generated cash flows and our higher near-term outlook primarily for its tools used to diagnose and develop products to treat COVID-19 [Relation] cause [Effect] We are keeping our fair value estimate for Danaher at $160 per share after raising it in January 2021",
    "gold": "[Cause] recently generated cash flows and our higher near-term outlook primarily for its tools used to diagnose and develop products to treat COVID-19 [Relation] cause [Effect] We are keeping our fair value estimate for Danaher at $160 per share after raising it in January 2021",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We believe Musk will be involved with Tesla for the rest of his life but if a sudden departure occurred, we see Tesla's stock at risk for a severe decline.",
    "output": "[Cause] a sudden departure occurred [Relation] cause [Effect] Tesla's stock at risk for a severe decline",
    "gold": "[Cause]  a sudden departure occurred [Relation] cause [Effect] Tesla's stock at risk for a severe decline",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "With governments on national, state, and local levels reeling from budget problems and emergency expenses from COVID-19, the emergence of cannabis as a legal product has come to be viewed as a funding panacea.",
    "output": "[Cause] COVID-19 [Relation] cause [Effect] budget problems and emergency expenses",
    "gold": "[Cause] governments on national, state, and local levels reeling [Relation] cause [Effect] the emergence of cannabis as a legal product has come to be viewed as a funding panacea",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "With governments on national, state, and local levels reeling from budget problems and emergency expenses from COVID-19, the emergence of cannabis as a legal product has come to be viewed as a funding panacea.",
    "output": "[Cause] the emergence of cannabis as a legal product [Relation] cause [Effect] viewed as a funding panacea",
    "gold": "[Cause] budget problems and emergency expenses from COVID-19 [Relation] cause [Effect] governments on national, state, and local levels reeling",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "As its larger rivals (such as Royal Dutch Shell, BP, and Exxon) are vertically integrated, Valvoline does not enjoy the same degree of control over base oil supply (though low crude oil prices have mitigated the near-term disadvantage).",
    "output": "[Cause] its larger rivals (such as Royal Dutch Shell, BP, and Exxon) are vertically integrated [Relation] cause [Effect] Valvoline does not enjoy the same degree of control over base oil supply",
    "gold": "[Cause] its larger rivals (such as Royal Dutch Shell, BP, and Exxon) are vertically integrated [Relation] cause [Effect] Valvoline does not enjoy the same degree of control over base oil supply",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Although the economic impact from the COVID-19 pandemic will pressure earnings in 2020 due in large part to NiSource's high share of commercial and industrial customers, we expect a rebound in average annual EPS growth exceeding 7% from 2021 to 2024 and strong dividend growth averaging about 6% annually.",
    "output": "[Cause] NiSource's high share of commercial and industrial customers [Relation] cause [Effect] the economic impact from the COVID-19 pandemic will pressure earnings in 2020",
    "gold": "[Cause] NiSource's high share of commercial and industrial customers [Relation] cause [Effect] the economic impact from the COVID-19 pandemic will pressure earnings in 2020",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "As licenses for these facilities are given by state and local officials, if ethylene oxide becomes a priority for state officials, Teleflex could face supply disruptions.",
    "output": "[Cause] licenses for these facilities are given by state and local officials [Relation] cause [Effect] Teleflex could face supply disruptions",
    "gold": "[Cause]  licenses for these facilities are given by state and local officials |  ethylene oxide becomes a priority for state officials [Relation] cause [Effect] Teleflex could face supply disruptions",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Additionally, properties located in desirable submarkets with easy access to transportation, are near business districts, provide food and entertainment options, and have low crime statistics see higher demand that can translate to higher rents and higher growth.",
    "output": "[Cause] properties located in desirable submarkets with easy access to transportation, are near business districts, provide food and entertainment options, and have low crime statistics [Relation] cause [Effect] higher demand",
    "gold": "[Cause] low crime statistics see higher demand [Relation] cause [Effect] higher rents and higher growth",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Because AMC's cable network business depends on advertising for about 35% of its revenue, the company could be vulnerable to a general slowdown in the economy or weak programming that reduces its viewership.",
    "output": "[Cause] AMC's cable network business depends on advertising for about 35% of its revenue [Relation] cause [Effect] the company could be vulnerable to a general slowdown in the economy or weak programming that reduces its viewership",
    "gold": "[Cause] AMC's cable network business depends on advertising for about 35% of its revenue [Relation] cause [Effect] the company could be vulnerable to a general slowdown in the economy or weak programming that reduces its viewership",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The commodity products ADM moves around the world are readily available from competitors, and the company has little pricing power over the products it buys and sells, making for slim margins.",
    "output": "[Cause] The commodity products ADM moves around the world are readily available from competitors, and the company has little pricing power over the products it buys and sells [Relation] cause [Effect] slim margins",
    "gold": "[Cause] The commodity products ADM moves around the world are readily available from competitors, and the company has little pricing power over the products it buys and sells [Relation] cause [Effect] slim margins",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Echo's robust technology infrastructure, coupled with its vast reservoir of market/transaction data, enhances its internal pricing decisions and improves customer connectivity and reporting.",
    "output": "[Cause] Echo's robust technology infrastructure, coupled with its vast reservoir of market/transaction data [Relation] enable [Effect] enhances its internal pricing decisions and improves customer connectivity and reporting",
    "gold": "[Cause] Echo's robust technology infrastructure, coupled with its vast reservoir of market/transaction data [Relation] enable [Effect] enhances its internal pricing decisions and improves customer connectivity and reporting",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Slowing computing-related revenue forced AMD to reduce its reliance on PCs for growth and focus on utilizing its CPU and GPU technology in embedded and semicustom processor applications, such as game consoles.",
    "output": "[Cause] Slowing computing-related revenue [Relation] cause [Effect] AMD to reduce its reliance on PCs for growth and focus on utilizing its CPU and GPU technology in embedded and semicustom processor applications, such as game consoles",
    "gold": "[Cause] Slowing computing-related revenue [Relation] cause [Effect] AMD to reduce its reliance on PCs for growth and focus on utilizing its CPU and GPU technology in embedded and semicustom processor applications, such as game consoles",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "CarMax's revenue has increased at a compound annual rate of about 11% since fiscal 2000 because of the success of customer-friendly sales practices and use of information technology and the firm targets a 12% annual rate for fiscal 2021 to fiscal 2026.",
    "output": "[Cause] the success of customer-friendly sales practices and use of information technology [Relation] cause [Effect] CarMax's revenue has increased at a compound annual rate of about 11% since fiscal 2000",
    "gold": "[Cause] the success of customer-friendly sales practices and use of information technology [Relation] cause [Effect] CarMax's revenue has increased at a compound annual rate of about 11% since fiscal 2000",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "For example, consumer sales dropped to 26% of total revenue in 2019 from 32% in 2018, due in part to weak demand for a gaming console the firm supplies products for.",
    "output": "[Cause] weak demand for a gaming console the firm supplies products for [Relation] cause [Effect] consumer sales dropped to 26% of total revenue in 2019 from 32% in 2018",
    "gold": "[Cause] weak demand for a gaming console the firm supplies products for [Relation] cause [Effect] consumer sales dropped to 26% of total revenue in 2019 from 32% in 2018",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The firm's gross margin is set to stabilize as Harley refocuses its efforts on more profitable markets, and our base case assumes that it stabilizes around 32% in 2029, helped by a more measured approach to entering new markets.",
    "output": "[Cause] Harley refocuses its efforts on more profitable markets [Relation] cause [Effect] The firm's gross margin is set to stabilize",
    "gold": "[Cause] Harley refocuses its efforts on more profitable markets [Relation] cause [Effect] The firm's gross margin is set to stabilize",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "While the loan book is largely repriced to lower rates, there could be some pressure in credit margins if competition increases in the first half.",
    "output": "[Cause] competition increases in the first half [Relation] cause [Effect] there could be some pressure in credit margins",
    "gold": "[Cause] competition increases in the first half [Relation] cause [Effect] there could be some pressure in credit margins",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "General Mills' products sell at a price premium to most of its competitors, which we think provides further evidence of its brand strength.",
    "output": "[Cause] General Mills' products sell at a price premium to most of its competitors [Relation] enable [Effect] further evidence of its brand strength",
    "gold": "[Cause] General Mills' products sell at a price premium to most of its competitors [Relation] enable [Effect] further evidence of its brand strength",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Because index data is critical to stakeholders that benchmark to MSCI, its index subscriptions have strong retention and pricing power.",
    "output": "[Cause] index data is critical to stakeholders that benchmark to MSCI [Relation] cause [Effect] its index subscriptions have strong retention and pricing power",
    "gold": "[Cause]  index data is critical to stakeholders that benchmark to MSCI [Relation] cause [Effect] its index subscriptions have strong retention and pricing power",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We do not believe it has the power to negotiate lower prices from these producers as there are many competitors who buy clothing in larger volumes than Urban Outfitters.",
    "output": "[Cause] there are many competitors who buy clothing in larger volumes than Urban Outfitters [Relation] cause [Effect] We do not believe it has the power to negotiate lower prices from these producers",
    "gold": "[Cause] there are many competitors who buy clothing in larger volumes than Urban Outfitters [Relation] cause [Effect] We do not believe it has the power to negotiate lower prices from these producers",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Given the ongoing demand for content, we believe content creation is not a zero-sum game, as high-quality content will always find an outlet.",
    "output": "[Cause] the ongoing demand for content [Relation] cause [Effect] content creation is not a zero-sum game",
    "gold": "[Cause]  the ongoing demand for content [Relation] cause [Effect] content creation is not a zero-sum game",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Given the ongoing demand for content, we believe content creation is not a zero-sum game, as high-quality content will always find an outlet.",
    "output": "[Cause] high-quality content will always find an outlet [Relation] cause [Effect] content creation is not a zero-sum game",
    "gold": "[Cause] high-quality content will always find an outlet [Relation] cause [Effect] content creation is not a zero-sum game",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Deere's products help farmers save on farming input costs, limit machine maintenance and repair costs, ultimately leading to a lower total cost of ownership.",
    "output": "[Cause] Deere's products help farmers save on farming input costs, limit machine maintenance and repair costs [Relation] cause [Effect] a lower total cost of ownership",
    "gold": "[Cause] Deere's products help farmers save on farming input costs, limit machine maintenance and repair costs [Relation] enable [Effect] a lower total cost of ownership",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In what we view as a differentiator up to this point, Snap also allows its users to partake in advertising, as users can customize their pictures with Lenses sponsored by different brands.",
    "output": "[Cause] users can customize their pictures with Lenses sponsored by different brands [Relation] cause [Effect] Snap also allows its users to partake in advertising",
    "gold": "[Cause]  users can customize their pictures with Lenses sponsored by different brands [Relation] enable [Effect] Snap also allows its users to partake in advertising",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The utility must maintain political and regulatory support for infrastructure replacement, clean energy, energy efficiency, and other network upgrades to increase earnings.",
    "output": "[Cause] maintain political and regulatory support for infrastructure replacement, clean energy, energy efficiency, and other network upgrades [Relation] enable [Effect] increase earnings",
    "gold": "[Cause] maintain political and regulatory support for infrastructure replacement, clean energy, energy efficiency, and other network upgrades [Relation] enable [Effect]  increase earnings",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Operating margins should rise as Advance cuts costs and after near-term conditions normalize, rebounding from 8% in 2018-19 and approaching 12% long term.",
    "output": "[Cause] Advance cuts costs and after near-term conditions normalize [Relation] cause [Effect] Operating margins should rise",
    "gold": "[Cause] Advance cuts costs and after near-term conditions normalize [Relation] enable [Effect] Operating margins should rise",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Over the past decade, the HDD market has experienced rapid consolidation, with the number of players falling from 10 to three as others have exited because of an inability to meet the rising investments to keep pace with higher-capacity HDDs and the shift to SSDs.",
    "output": "[Cause] an inability to meet the rising investments to keep pace with higher-capacity HDDs and the shift to SSDs [Relation] cause [Effect] the number of players falling from 10 to three",
    "gold": "[Cause] an inability to meet the rising investments to keep pace with higher-capacity HDDs and the shift to SSDs [Relation] cause [Effect]  others have exited",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Over the past decade, the HDD market has experienced rapid consolidation, with the number of players falling from 10 to three as others have exited because of an inability to meet the rising investments to keep pace with higher-capacity HDDs and the shift to SSDs.",
    "output": "[Cause] an inability to meet the rising investments to keep pace with higher-capacity HDDs and the shift to SSDs [Relation] cause [Effect] the number of players falling from 10 to three",
    "gold": "[Cause]  others have exited [Relation] cause [Effect] the number of players falling from 10 to three",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Our base-case fair value estimate is based on our projection that the overall streaming revenue for the recorded music industry will grow 22% annually from 2019 until 2025.  As a result of our industry projection, we expect streaming revenue for the recorded music segment to expand by 18.5% on average from fiscal 2021 to fiscal 2025.",
    "output": "[Cause] Our base-case fair value estimate is based on our projection that the overall streaming revenue for the recorded music industry will grow 22% annually from 2019 until 2025 [Relation] cause [Effect] streaming revenue for the recorded music segment to expand by 18.5% on average from fiscal 2021 to fiscal 2025",
    "gold": "[Cause] Our base-case fair value estimate is based on our projection that the overall streaming revenue for the recorded music industry will grow 22% annually from 2019 until 2025 [Relation] cause [Effect] streaming revenue for the recorded music segment to expand by 18.5% on average from fiscal 2021 to fiscal 2025",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In a four-player Italian mobile market, new rational entrants are not economically incentivized to enter due to low market growth, low price levels and existing incumbents with established operations.",
    "output": "[Cause] low market growth, low price levels and existing incumbents with established operations [Relation] cause [Effect] new rational entrants are not economically incentivized to enter",
    "gold": "[Cause]  low market growth, low price levels and existing incumbents with established operations [Relation] cause [Effect] new rational entrants are not economically incentivized to enter",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The majority of CRH's sales are from developed markets and thus enjoy greater protection against new entrants than competitors with a greater emerging-market presence.",
    "output": "[Cause] The majority of CRH's sales are from developed markets [Relation] enable [Effect] enjoy greater protection against new entrants than competitors with a greater emerging-market presence",
    "gold": "[Cause] The majority of CRH's sales are from developed markets [Relation] cause [Effect] enjoy greater protection against new entrants than competitors with a greater emerging-market presence",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We are raising our fair value estimate for Crane to $107 from $98 following the firm's aerospace & electronics investor conference on May 26.",
    "output": "[Cause] the firm's aerospace & electronics investor conference on May 26 [Relation] cause [Effect] We are raising our fair value estimate for Crane to $107 from $98",
    "gold": "[Cause]  the firm's aerospace & electronics investor conference on May 26 [Relation] cause [Effect] We are raising our fair value estimate for Crane to $107 from $98",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Whereas the relative complexity involved in developing a facility had served as a deterrent, an increased focus on supply chains due to the rise of e-commerce and the coronavirus outbreak has eroded this prior source of hesitation.",
    "output": "[Cause] the rise of e-commerce and the coronavirus outbreak [Relation] cause [Effect] an increased focus on supply chains",
    "gold": "[Cause] the rise of e-commerce and the coronavirus outbreak [Relation] cause [Effect] an increased focus on supply chains",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "While the concentration of high-quality tenants across Simon's portfolio can provide an experience for consumers that is hard for other retailers to replicate, there is significant uncertainty about the future of sales growth even from this segment stemming from the coronavirus.",
    "output": "[Cause] the concentration of high-quality tenants across Simon's portfolio [Relation] enable [Effect] provide an experience for consumers that is hard for other retailers to replicate",
    "gold": "[Cause]  the concentration of high-quality tenants across Simon's portfolio [Relation] cause [Effect] provide an experience for consumers that is hard for other retailers to replicate",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We'd be hard-pressed to identify a strong area of organic growth for the firm, given the middling economics of the basins and regions it serves.",
    "output": "[Cause] the middling economics of the basins and regions it serves [Relation] cause [Effect] We'd be hard-pressed to identify a strong area of organic growth for the firm",
    "gold": "[Cause]  the middling economics of the basins and regions it serves [Relation] cause [Effect] We'd be hard-pressed to identify a strong area of organic growth for the firm",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Nonetheless, we think that total revenue generated by ERP customers will grow by about 50% as more and more cloud customers should increase the lifetime value they offer to SAP.",
    "output": "[Cause] more and more cloud customers should increase the lifetime value they offer to SAP [Relation] cause [Effect] total revenue generated by ERP customers will grow by about 50%",
    "gold": "[Cause]  more and more cloud customers should increase the lifetime value they offer to SAP [Relation] enable [Effect] total revenue generated by ERP customers will grow by about 50%",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "After acquiring Kepware in 2016, the Thingworx platform is able to communicate with an estimated 70% of hardware without customized coding from system integrators via the Kepware server, with only Software AG comparing in the extent of connectivity.",
    "output": "[Cause] acquiring Kepware in 2016 [Relation] enable [Effect] the Thingworx platform is able to communicate with an estimated 70% of hardware without customized coding from system integrators via the Kepware server",
    "gold": "[Cause] acquiring Kepware in 2016 [Relation] enable [Effect] the Thingworx platform is able to communicate with an estimated 70% of hardware without customized coding from system integrators via the Kepware server",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "On balance, the advent of the cloud has been good for data center businesses, as the number of firms reducing their own data center needs has been much more than offset by those that increasingly move off-site for interconnection with cloud service providers for their hybrid cloud needs.",
    "output": "[Cause] the number of firms reducing their own data center needs has been much more than offset by those that increasingly move off-site for interconnection with cloud service providers for their hybrid cloud needs [Relation] cause [Effect] the advent of the cloud has been good for data center businesses",
    "gold": "[Cause] the number of firms reducing their own data center needs has been much more than offset by those that increasingly move off-site for interconnection with cloud service providers for their hybrid cloud needs [Relation] cause [Effect] the advent of the cloud has been good for data center businesses",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Defective equipment or components from ABB's automation or electrical portfolio could lead to product recalls; however, we would not expect any specific recalls to be material across the group financials as the product portfolio is diverse, and we believe the company has internal controls to minimize recall risk.",
    "output": "[Cause] the product portfolio is diverse, and we believe the company has internal controls to minimize recall risk [Relation] cause [Effect] Defective equipment or components from ABB's automation or electrical portfolio could lead to product recalls",
    "gold": "[Cause] Defective equipment or components from ABB's automation or electrical portfolio [Relation] cause [Effect] product recalls",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "In developed markets, replicating Booking's leading network in Europe is proving costly and time consuming for key competitors, given around 60% of all hotels in the region are small boutique establishments.",
    "output": "[Cause] around 60% of all hotels in the region are small boutique establishments [Relation] cause [Effect] replicating Booking's leading network in Europe is proving costly and time consuming for key competitors",
    "gold": "[Cause] around 60% of all hotels in the region are small boutique establishments [Relation] cause [Effect] replicating Booking's leading network in Europe is proving costly and time consuming for key competitors",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "With the firm's restructuring and bolt-on acquisition plans mostly complete, we believe it is unlikely that investors will face large risks of overpayment and integration in the future.",
    "output": "[Cause] the firm's restructuring and bolt-on acquisition plans mostly complete [Relation] cause [Effect] it is unlikely that investors will face large risks of overpayment and integration in the future",
    "gold": "[Cause] the firm's restructuring and bolt-on acquisition plans mostly complete [Relation] cause [Effect] it is unlikely that investors will face large risks of overpayment and integration in the future",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Sinopec does benefit at home from its leadership position in downstream operations, but a lack of pricing power persists with petrol product pricing determined by the government.",
    "output": "[Cause] a lack of pricing power persists with petrol product pricing determined by the government [Relation] cause [Effect] Sinopec does benefit at home from its leadership position in downstream operations",
    "gold": "[Cause] petrol product pricing determined by the government [Relation] cause [Effect] a lack of pricing power",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Finally, the Callcredit acquisition was large and marks a break from the bolt-on acquisitions the company has historically completed, which raises operational and integration risk.",
    "output": "[Cause] the Callcredit acquisition was large and marks a break from the bolt-on acquisitions the company has historically completed [Relation] cause [Effect] raises operational and integration risk",
    "gold": "[Cause] the Callcredit acquisition was large and marks a break from the bolt-on acquisitions the company has historically completed [Relation] cause [Effect]  raises operational and integration risk",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Landstar's strong technology infrastructure, coupled with its vast reservoir of market data, also enhances its internal pricing decisions and improves customer connectivity and reporting.",
    "output": "[Cause] Landstar's strong technology infrastructure, coupled with its vast reservoir of market data [Relation] enable [Effect] enhances its internal pricing decisions and improves customer connectivity and reporting",
    "gold": "[Cause] Landstar's strong technology infrastructure, coupled with its vast reservoir of market data [Relation] cause [Effect]  enhances its internal pricing decisions and improves customer connectivity and reporting",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Another risk that concern us is that payroll providers are handling increasing amounts of sensitive data that could be compromised in a cyberattack.",
    "output": "[Cause] payroll providers are handling increasing amounts of sensitive data [Relation] cause [Effect] could be compromised in a cyberattack",
    "gold": "[Cause] payroll providers are handling increasing amounts of sensitive data that could be compromised in a cyberattack [Relation] cause [Effect] Another risk",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "While we think that some concerts will be able to be rescheduled, many events may not be able to find new dates given the already crowded schedule.",
    "output": "[Cause] the already crowded schedule [Relation] cause [Effect] many events may not be able to find new dates",
    "gold": "[Cause] the already crowded schedule [Relation] cause [Effect] many events may not be able to find new dates",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "BNP Paribas has consistently been gaining market share in investment banking and we anticipate this to continue as a number of its European peers are still looking to scale back their trading operations.",
    "output": "[Cause] a number of its European peers are still looking to scale back their trading operations [Relation] cause [Effect] BNP Paribas has consistently been gaining market share in investment banking and we anticipate this to continue",
    "gold": "[Cause]  a number of its European peers are still looking to scale back their trading operations [Relation] cause [Effect] BNP Paribas has consistently been gaining market share in investment banking and we anticipate this to continue",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We also have confidence that this level of earnings growth will continue beyond the next five years given the investment and acquisition opportunities in the water utilities industry.",
    "output": "[Cause] the investment and acquisition opportunities in the water utilities industry [Relation] cause [Effect] We also have confidence that this level of earnings growth will continue beyond the next five years",
    "gold": "[Cause]  the investment and acquisition opportunities in the water utilities industry [Relation] cause [Effect] We also have confidence that this level of earnings growth will continue beyond the next five years",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "While housing starts alone should increase demand for gardening products, we see some secular trends that will offset the growth.",
    "output": "[Cause] housing starts alone [Relation] cause [Effect] increase demand for gardening products",
    "gold": "[Cause]  housing starts alone [Relation] enable [Effect] increase demand for gardening products",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We think a very high cost of equity and high cost of debt are reasonable for this airline, given American's material financial leverage and cyclicality.",
    "output": "[Cause] American's material financial leverage and cyclicality [Relation] cause [Effect] a very high cost of equity and high cost of debt are reasonable for this airline",
    "gold": "[Cause] American's material financial leverage and cyclicality [Relation] cause [Effect] a very high cost of equity and high cost of debt are reasonable for this airline",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Large global CROs like PPD have developed regulatory expertise and proprietary data that help them produce the best trial designs and enroll patients into trials quickly and efficiently, allowing Drug Manufacturers - Specialty & Genericdrugs to get to market faster.",
    "output": "[Cause] Large global CROs like PPD have developed regulatory expertise and proprietary data [Relation] enable [Effect] Drug Manufacturers - Specialty & Genericdrugs to get to market faster",
    "gold": "[Cause]  developed regulatory expertise and proprietary data [Relation] enable [Effect]  help them produce the best trial designs and enroll patients into trials quickly and efficiently",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "At $2.80/mcf, North American gas is not some of the cheapest gas on the global cost curve, meaning that without the contracts in place, Cheniere would struggle.",
    "output": "[Cause] North American gas is not some of the cheapest gas on the global cost curve [Relation] cause [Effect] Cheniere would struggle",
    "gold": "[Cause] without the contracts in place [Relation] cause [Effect]  Cheniere would struggle",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Switching costs are at play because Balchem's gases account for a fraction of its customers' cost structure, but a reliable supply is critical to their production processes.",
    "output": "[Cause] Balchem's gases account for a fraction of its customers' cost structure [Relation] cause [Effect] Switching costs are at play",
    "gold": "[Cause]  Balchem's gases account for a fraction of its customers' cost structure [Relation] cause [Effect] Switching costs are at play",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Our long-term forecast assumes roughly 4% annual top-line growth through 2025, but we forecast sales growth to average 5% over the next couple of years as Ingredion's volumes recover from the COVID-19-related slowdown.",
    "output": "[Cause] Ingredion's volumes recover from the COVID-19-related slowdown [Relation] cause [Effect] sales growth to average 5% over the next couple of years",
    "gold": "[Cause] Ingredion's volumes recover from the COVID-19-related slowdown [Relation] cause [Effect]  sales growth to average 5% over the next couple of years",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Although most dealerships are good businesses, we think the large publicly traded dealers are best positioned for growth since they can be the most flexible in changing brand mix.",
    "output": "[Cause] they can be the most flexible in changing brand mix [Relation] cause [Effect] the large publicly traded dealers are best positioned for growth",
    "gold": "[Cause] they can be the most flexible in changing brand mix [Relation] cause [Effect] the large publicly traded dealers are best positioned for growth",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We expect sales and marketing expenses to grow appreciably over our explicit forecast as the firm faces entrenched competitors, but to lag sales growth as it further penetrates its addressable market.",
    "output": "[Cause] the firm faces entrenched competitors [Relation] cause [Effect] sales and marketing expenses to grow appreciably over our explicit forecast",
    "gold": "[Cause] the firm faces entrenched competitors [Relation] cause [Effect] sales and marketing expenses to grow appreciably over our explicit forecast",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We expect sales and marketing expenses to grow appreciably over our explicit forecast as the firm faces entrenched competitors, but to lag sales growth as it further penetrates its addressable market.",
    "output": "[Cause] the firm faces entrenched competitors [Relation] cause [Effect] sales and marketing expenses to grow appreciably over our explicit forecast",
    "gold": "[Cause] it further penetrates its addressable market [Relation] prevent [Effect] sales growth",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "For instance, Neva, an attended RPA product, monitors agents' desktop activities, identifies repetitive processes which can be automated, and frees up agents from routine tasks so they can focus on the most important activity- servicing the customer.",
    "output": "[Cause] Neva, an attended RPA product [Relation] enable [Effect] monitors agents' desktop activities",
    "gold": "[Cause] an attended RPA product, monitors agents' desktop activities, identifies repetitive processes which can be automated, [Relation] cause [Effect]  frees up agents from routine tasks",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Given significant barriers to entry and high switching costs, market share has remained stable in the orthopedic implant space, and we view Colfax's competitive advantage in the reconstructive segment as durable.",
    "output": "[Cause] significant barriers to entry and high switching costs [Relation] cause [Effect] market share has remained stable in the orthopedic implant space",
    "gold": "[Cause]  significant barriers to entry and high switching costs, market share has remained stable in the orthopedic implant space [Relation] enable [Effect] Colfax's competitive advantage in the reconstructive segment as durable",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "That said, the lines between the company's clouds are at times blurry, as similar features can be found in multiple clouds.",
    "output": "[Cause] similar features can be found in multiple clouds [Relation] cause [Effect] the lines between the company's clouds are at times blurry",
    "gold": "[Cause] similar features can be found in multiple clouds [Relation] cause [Effect]  the lines between the company's clouds are at times blurry",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "CBRE's preeminent competitive position derives in large part from its lengthy track record of effective and ethical service, which has bolstered its reputation.",
    "output": "[Cause] its lengthy track record of effective and ethical service [Relation] enable [Effect] CBRE's preeminent competitive position",
    "gold": "[Cause] its lengthy track record of effective and ethical service [Relation] cause [Effect] CBRE's preeminent competitive position",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "CBRE's preeminent competitive position derives in large part from its lengthy track record of effective and ethical service, which has bolstered its reputation.",
    "output": "[Cause] its lengthy track record of effective and ethical service [Relation] enable [Effect] CBRE's preeminent competitive position",
    "gold": "[Cause] its lengthy track record of effective and ethical service [Relation] cause [Effect] bolstered its reputation",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Additionally, part of the workforce is covered by collective agreements, which could result in work stoppages if work agreements cannot be reached.",
    "output": "[Cause] work agreements cannot be reached [Relation] cause [Effect] work stoppages",
    "gold": "[Cause]  part of the workforce is covered by collective agreements [Relation] cause [Effect]  result in work stoppages if work agreements cannot be reached",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Being omnipresent across most customer channels and product lines has cemented the firm's position as a go-to reliable supplier, likely garnering it greater wallet share going forward.",
    "output": "[Cause] Being omnipresent across most customer channels and product lines [Relation] enable [Effect] garnering it greater wallet share going forward",
    "gold": "[Cause] Being omnipresent across most customer channels and product lines [Relation] cause [Effect] garnering it greater wallet share going forward",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We think investors are familiar with transitions such as this, as a variety of software companies have completed this process, with a number still moving along the transition path.",
    "output": "[Cause] a variety of software companies have completed this process, with a number still moving along the transition path [Relation] cause [Effect] investors are familiar with transitions such as this",
    "gold": "[Cause] a variety of software companies have completed this process, with a number still moving along the transition path [Relation] cause [Effect] investors are familiar with transitions such as this",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The close proximity between production and end customers (construction and public works customers as well as producers of ready-mix concrete) results in cheaper transportation costs and minimizes the threat of distant competitors.",
    "output": "[Cause] The close proximity between production and end customers (construction and public works customers as well as producers of ready-mix concrete) [Relation] cause [Effect] cheaper transportation costs and minimizes the threat of distant competitors",
    "gold": "[Cause] The close proximity between production and end customers (construction and public works customers as well as producers of ready-mix concrete) [Relation] cause [Effect] cheaper transportation costs and minimizes the threat of distant competitors",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "More importantly, the replication efforts might be futile because no other heavy equipment company has the completeness of its product line to fully support a branch.",
    "output": "[Cause] no other heavy equipment company has the completeness of its product line to fully support a branch [Relation] cause [Effect] the replication efforts might be futile",
    "gold": "[Cause] no other heavy equipment company has the completeness of its product line to fully support a branch [Relation] cause [Effect]  the replication efforts might be futile",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "But since the FAST Act relied on one-time funding rather than an increase in the gas tax, the risk to highway funding remains, the risk has returned as the FAST Act nears expiration.",
    "output": "[Cause] the FAST Act relied on one-time funding rather than an increase in the gas tax [Relation] cause [Effect] the risk to highway funding remains",
    "gold": "[Cause] the FAST Act relied on one-time funding rather than an increase in the gas tax [Relation] cause [Effect] the risk to highway funding remains",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "But since the FAST Act relied on one-time funding rather than an increase in the gas tax, the risk to highway funding remains, the risk has returned as the FAST Act nears expiration.",
    "output": "[Cause] the FAST Act nears expiration [Relation] cause [Effect] the risk to highway funding remains",
    "gold": "[Cause] the FAST Act nears expiration [Relation] cause [Effect] the risk has returned",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Additionally, IFF has announced a merger with DuPont's nutrition and biosciences business, a transformative deal that would more than double its enterprise value.",
    "output": "[Cause] IFF has announced a merger with DuPont's nutrition and biosciences business [Relation] enable [Effect] more than double its enterprise value",
    "gold": "[Cause] IFF has announced a merger with DuPont's nutrition and biosciences business [Relation] enable [Effect] more than double its enterprise value",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Amazon is now serving local markets by providing same-day delivery for its Amazon Prime members in certain regions, while Google continues to utilize user data to provide more targeted and possibly more effective ads and ad placements for local businesses.",
    "output": "[Cause] providing same-day delivery for its Amazon Prime members in certain regions [Relation] enable [Effect] Amazon is now serving local markets",
    "gold": "[Cause] providing same-day delivery for its Amazon Prime members in certain regions [Relation] cause [Effect] Amazon is now serving local markets",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Many of Steris' products, such as washers and sterilizers, are designed for specific medical devices, and reliability is a key concern for customers because of the high cost that can arise when reprocessing fails.",
    "output": "[Cause] the high cost that can arise when reprocessing fails [Relation] cause [Effect] reliability is a key concern for customers",
    "gold": "[Cause] the high cost that can arise when reprocessing fails [Relation] cause [Effect] reliability is a key concern for customers",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Any lapse in technological innovation in the segments in which Lam competes could result in failure to defend key positions in customers' process flows.",
    "output": "[Cause] Any lapse in technological innovation in the segments in which Lam competes [Relation] cause [Effect] failure to defend key positions in customers' process flows",
    "gold": "[Cause] Any lapse in technological innovation in the segments in which Lam competes [Relation] cause [Effect] failure to defend key positions in customers' process flows",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "South America recovered in 2020 following a difficult year in 2019, where sales contracted 16% because of a bad Argentine economy, we anticipate revenue in the region will increase by 18% in 2021.",
    "output": "[Cause] a bad Argentine economy [Relation] cause [Effect] sales contracted 16%",
    "gold": "[Cause] a bad Argentine economy [Relation] cause [Effect] anticipate revenue in the region will increase",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Smucker's organic sales were down in three of the past five years, but stepped-up brand investments (and a renewed focus on the ROI of those investments) should gradually improve Smucker's underlying sale trajectory, improving long-term organic growth to 2% in 2023 and beyond.",
    "output": "[Cause] stepped-up brand investments (and a renewed focus on the ROI of those investments) [Relation] enable [Effect] gradually improve Smucker's underlying sale trajectory, improving long-term organic growth to 2% in 2023 and beyond",
    "gold": "[Cause] stepped-up brand investments (and a renewed focus on the ROI of those investments) [Relation] cause [Effect]  gradually improve Smucker's underlying sale trajectory, improving long-term organic growth to 2% in 2023 and beyond",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "On a standalone basis, we expect AMD to achieve a top-line compound annual growth rate of 19% through 2025 (consistent with management's guidance), including 39% growth in 2020 due to new product growth and the expectation of strong share gains against Intel.",
    "output": "[Cause] new product growth and the expectation of strong share gains against Intel [Relation] cause [Effect] AMD to achieve a top-line compound annual growth rate of 19% through 2025 (consistent with management's guidance), including 39% growth in 2020",
    "gold": "[Cause]  new product growth and the expectation of strong share gains against Intel [Relation] cause [Effect] we expect AMD to achieve a top-line compound annual growth rate of 19% through 2025",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Returns on invested capital, historically north of 20%, are likely to bottom out over the next couple of years due to generic pressure on Tecfidera sales and biosimialr pressure on Rituxan.",
    "output": "[Cause] generic pressure on Tecfidera sales and biosimialr pressure on Rituxan [Relation] cause [Effect] Returns on invested capital, historically north of 20%, are likely to bottom out over the next couple of years",
    "gold": "[Cause] generic pressure on Tecfidera sales and biosimialr pressure on Rituxan [Relation] cause [Effect] Returns on invested capital, historically north of 20%, are likely to bottom out over the next couple of years",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We believe the breadth of its geographic focus combined with exposure to local governments as end markets creates a moderate risk that future incidences of corruption occur.",
    "output": "[Cause] the breadth of its geographic focus combined with exposure to local governments as end markets [Relation] cause [Effect] a moderate risk that future incidences of corruption occur",
    "gold": "[Cause] as end markets creates a moderate risk that future incidences of corruption occur [Relation] cause [Effect] We believe the breadth of its geographic focus combined with exposure to local governments",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "As a result, considering that switching vendors would require a significant amount of time to master a different set of instruments and develop a relationship with a new sales representative, surgeons often remain loyal to their preferred vendor and sales rep for over a decade.",
    "output": "[Cause] switching vendors would require a significant amount of time to master a different set of instruments and develop a relationship with a new sales representative [Relation] cause [Effect] surgeons often remain loyal to their preferred vendor and sales rep for over a decade",
    "gold": "[Cause]  switching vendors would require a significant amount of time to master a different set of instruments and develop a relationship with a new sales representative [Relation] cause [Effect] surgeons often remain loyal to their preferred vendor and sales rep for over a decade",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "As WeChat or mobile QQ become the go-to platforms because they possess a sizable Internet Content & Informationamount of miniprograms, existing miniprogram developers also benefit from the overall increase in traffic.",
    "output": "[Cause] they possess a sizable Internet Content & Informationamount of miniprograms [Relation] cause [Effect] WeChat or mobile QQ become the go-to platforms",
    "gold": "[Cause] WeChat or mobile QQ become the go-to platforms [Relation] cause [Effect] they possess a sizable Internet Content & Informationamount of miniprograms, existing miniprogram developers also benefit from the overall increase in traffic",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "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% prior to the pandemic outbreak in 2019.",
    "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% prior to the pandemic outbreak in 2019",
    "gold": "[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% prior to the pandemic outbreak in 2019",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Like its off-price peers, Burlington emphasizes its store experience in marketing rather than the brands on offer, allowing it to opportunistically source items from a variety of vendors rather than face customers' expectations that certain labels be offered consistently.",
    "output": "[Cause] Burlington emphasizes its store experience in marketing rather than the brands on offer [Relation] enable [Effect] it to opportunistically source items from a variety of vendors rather than face customers' expectations that certain labels be offered consistently",
    "gold": "[Cause] Burlington emphasizes its store experience in marketing rather than the brands on offer [Relation] enable [Effect] allowing it to opportunistically source items from a variety of vendors",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We expect Vertex to maintain its dominant position in cystic fibrosis, given the strong efficacy of its therapies, lengthy patents, and lack of competition, while developing pipeline candidates in other rare indications to spur growth.",
    "output": "[Cause] the strong efficacy of its therapies, lengthy patents, and lack of competition, while developing pipeline candidates in other rare indications to spur growth [Relation] cause [Effect] Vertex to maintain its dominant position in cystic fibrosis",
    "gold": "[Cause]  given the strong efficacy of its therapies, lengthy patents, and lack of competition [Relation] cause [Effect]  Vertex to maintain its dominant position in cystic fibrosis",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Though management missteps have stymied performance in the past, the confluence of better execution and benefits inherent to its integrated business model has allowed Pepsi to reaccelerate profitable growth, and we see plenty of room to run.",
    "output": "[Cause] the confluence of better execution and benefits inherent to its integrated business model [Relation] enable [Effect] Pepsi to reaccelerate profitable growth",
    "gold": "[Cause] the confluence of better execution and benefits inherent to its integrated business model [Relation] cause [Effect] Pepsi to reaccelerate profitable growth",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Improvements to the linker, drug, antibody, and antigen selection have allowed for a wider therapeutic window for ADCs that makes the class more viable to work with than previous generations.",
    "output": "[Cause] Improvements to the linker, drug, antibody, and antigen selection [Relation] enable [Effect] a wider therapeutic window for ADCs",
    "gold": "[Cause] Improvements to the linker, drug, antibody, and antigen selection [Relation] enable [Effect]  a wider therapeutic window for ADCs",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Improvements to the linker, drug, antibody, and antigen selection have allowed for a wider therapeutic window for ADCs that makes the class more viable to work with than previous generations.",
    "output": "[Cause] Improvements to the linker, drug, antibody, and antigen selection [Relation] enable [Effect] the class more viable to work with than previous generations",
    "gold": "[Cause]  a wider therapeutic window for ADCs [Relation] enable [Effect]  the class more viable to work with than previous generations",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We're also giving Fastenal credit for tighter operating expense control, which caused our forecast five-year average operating margin to increase 30 basis points to 20.6%.",
    "output": "[Cause] We're also giving Fastenal credit for tighter operating expense control [Relation] cause [Effect] our forecast five-year average operating margin to increase 30 basis points to 20.6%",
    "gold": "[Cause] We're also giving Fastenal credit for tighter operating expense control [Relation] cause [Effect]  our forecast five-year average operating margin to increase 30 basis points to 20.6%",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We believe the firm is likely to generate excess returns for the next decade, but this is largely a function of a rising connectivity tide raising all boats; we expect Marvell will struggle to get out of Broadcom's and Intel's wake.",
    "output": "[Cause] a rising connectivity tide raising all boats [Relation] cause [Effect] the firm is likely to generate excess returns for the next decade",
    "gold": "[Cause] a rising connectivity tide raising all boats [Relation] cause [Effect] the firm is likely to generate excess returns for the next decade",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In particular, the emergence of containerized sand delivery systems has obviated much of Halliburton's advantage, which Halliburton acknowledged when it decided to begin partnering with U.S.",
    "output": "[Cause] the emergence of containerized sand delivery systems [Relation] prevent [Effect] much of Halliburton's advantage",
    "gold": "[Cause]  the emergence of containerized sand delivery systems [Relation] prevent [Effect] much of Halliburton's advantage",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We think top-line growth will slow materially from the exceptional growth of 2018-20, averaging 2.1% from 2021 to 2025, due to slowing inorganic growth and the IT services divestiture.",
    "output": "[Cause] slowing inorganic growth and the IT services divestiture [Relation] cause [Effect] top-line growth will slow materially from the exceptional growth of 2018-20, averaging 2.1% from 2021 to 2025",
    "gold": "[Cause] slowing inorganic growth and the IT services divestiture [Relation] cause [Effect] top-line growth will slow materially from the exceptional growth of 2018-20, averaging 2.1% from 2021 to 2025",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "While Garmin has built a robust set of proprietary functions to make use of third-party mapping data under one streamlined user experience, we believe it lacks intangible assets in its auto sector due to the replicability of its products.",
    "output": "[Cause] the replicability of its products [Relation] cause [Effect] it lacks intangible assets in its auto sector",
    "gold": "[Cause] the replicability of its products [Relation] cause [Effect] it lacks intangible assets in its auto sector",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The whole process of changing a critical supplier like BorgWarner might cost an OEM as little as a few million dollars to several hundred million dollars, depending on the size and scope of the components or systems replaced.",
    "output": "[Cause] The whole process of changing a critical supplier like BorgWarner [Relation] cause [Effect] cost an OEM as little as a few million dollars to several hundred million dollars, depending on the size and scope of the components or systems replaced",
    "gold": "[Cause] The whole process of changing a critical supplier like BorgWarner [Relation] cause [Effect] cost an OEM as little as a few million dollars to several hundred million dollars, depending on the size and scope of the components or systems replaced",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The company recently announced that it will expand acetic acid production capacity at Clear Lake by roughly 50% while closing higher-cost production capacity in Asia, which should benefit segment margins thanks to lower average unit production costs.",
    "output": "[Cause] lower average unit production costs [Relation] cause [Effect] benefit segment margins",
    "gold": "[Cause] lower average unit production costs [Relation] cause [Effect] benefit segment margins",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The company recently announced that it will expand acetic acid production capacity at Clear Lake by roughly 50% while closing higher-cost production capacity in Asia, which should benefit segment margins thanks to lower average unit production costs.",
    "output": "[Cause] lower average unit production costs [Relation] cause [Effect] benefit segment margins",
    "gold": "[Cause]  it will expand acetic acid production capacity at Clear Lake by roughly 50% while closing higher-cost production capacity in Asia [Relation] cause [Effect] benefit segment margins",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "First, we have raised our sales growth rate between 2019-24 so that our 2024 sales forecast moves to $7.5 billion from $7.2 billion prior. This helps account for the growth opportunity in B2B (which the firm estimates could reach $1 billion over the next five years).",
    "output": "[Cause] we have raised our sales growth rate between 2019-24 so that our 2024 sales forecast moves to $7.5 billion from $7.2 billion prior [Relation] enable [Effect] account for the growth opportunity in B2B (which the firm estimates could reach $1 billion over the next five years)",
    "gold": "[Cause] we have raised our sales growth rate between 2019-24 so that our 2024 sales forecast moves to $7.5 billion from $7.2 billion prior [Relation] enable [Effect]  account for the growth opportunity in B2B (which the firm estimates could reach $1 billion over the next five years)",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We expect fiber use to continue growing substantially given constantly increasing data consumption across wired and wireless networks, and we think Uniti can capitalize in its niche.",
    "output": "[Cause] constantly increasing data consumption across wired and wireless networks [Relation] cause [Effect] fiber use to continue growing substantially",
    "gold": "[Cause] constantly increasing data consumption across wired and wireless networks [Relation] cause [Effect]  fiber use to continue growing substantially",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We expect fiber use to continue growing substantially given constantly increasing data consumption across wired and wireless networks, and we think Uniti can capitalize in its niche.",
    "output": "[Cause] constantly increasing data consumption across wired and wireless networks [Relation] cause [Effect] fiber use to continue growing substantially",
    "gold": "[Cause]  fiber use to continue growing substantially [Relation] cause [Effect] we think Uniti can capitalize in its niche",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "There could be a significant impact on customer health if Alcon's products have quality issues, which makes product governance an important ESG consideration.",
    "output": "[Cause] Alcon's products have quality issues [Relation] cause [Effect] There could be a significant impact on customer health",
    "gold": "[Cause] Alcon's products have quality issues [Relation] cause [Effect] product governance an important ESG consideration",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "While the current macroenvironment has not led to a spike in commodity prices, global light vehicle production as well as consumer demand have been severely curtailed, potentially prolonging Veoneer's ramp to profitability.",
    "output": "[Cause] global light vehicle production as well as consumer demand have been severely curtailed [Relation] cause [Effect] prolonging Veoneer's ramp to profitability",
    "gold": "[Cause]  global light vehicle production as well as consumer demand have been severely curtailed [Relation] cause [Effect]  prolonging Veoneer's ramp to profitability",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We contend that Kroger's ability to leverage distribution costs, investments in omnichannel offerings, and supply chain capabilities should allow it to continue to outperform its pure-play rivals.",
    "output": "[Cause] Kroger's ability to leverage distribution costs, investments in omnichannel offerings, and supply chain capabilities [Relation] enable [Effect] continue to outperform its pure-play rivals",
    "gold": "[Cause] contend that Kroger's ability to leverage distribution costs [Relation] cause [Effect]  continue to outperform its pure-play rivals",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Private label is meaningful among the consumable, usable, and edible products the company sells and includes key products that customers use on a regular basis--making those end users become repeat customers--like pet food, seasonal products, livestock feed, and pest control.",
    "output": "[Cause] Private label is meaningful among the consumable, usable, and edible products the company sells and includes key products that customers use on a regular basis [Relation] enable [Effect] those end users become repeat customers--like pet food, seasonal products, livestock feed, and pest control",
    "gold": "[Cause] Private label [Relation] enable [Effect] -making those end users become repeat customers",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "The Medicare for All scenario debated in the Democratic primaries called for the elimination of the private insurance industry, which would have threatened most 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 most 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 most of the company's operations",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "If customers are content with their optometrist and receive coverage for their eye exams, they are unlikely to switch to contacts for a different manufacturer, as, according to the Information Technology and Innovation Institute, most optometrists primarily prescribe one manufacturer's contacts and prescriptions are brand specific.",
    "output": "[Cause] customers are content with their optometrist and receive coverage for their eye exams [Relation] cause [Effect] unlikely to switch to contacts for a different manufacturer",
    "gold": "[Cause] as, according to the Information Technology and Innovation Institute, most optometrists primarily prescribe one manufacturer's contacts and prescriptions are brand specific [Relation] cause [Effect] If customers are content with their optometrist and receive coverage for their eye exams, they are unlikely to switch to contacts for a different manufacturer",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We forecast Sandvik's machining segment to grow 12% in 2021 benefiting from a cyclical recovery in industrial manufacturing but remaining below 2019 levels, with demand for Sandvik's mining equipment and services to continue the positive sales momentum it experienced in 2020, where we forecast double-digit sales growth for 2021.",
    "output": "[Cause] Sandvik's mining equipment and services to continue the positive sales momentum it experienced in 2020 [Relation] enable [Effect] double-digit sales growth for 2021",
    "gold": "[Cause] a cyclical recovery in industrial manufacturing [Relation] cause [Effect] Sandvik's machining segment to grow 12% in 2021",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Labor has been another core focus of the management team in recent years, with efforts to reallocate workers to service rather than stocking hours and restructuring its workforce to increase productivity--something the prior management team had struggled to execute successfully.",
    "output": "[Cause] Labor has been another core focus of the management team in recent years, with efforts to reallocate workers to service rather than stocking hours and restructuring its workforce to increase productivity [Relation] cause [Effect] the prior management team had struggled to execute successfully",
    "gold": "[Cause]  reallocate workers to service rather than stocking hours and restructuring its workforce [Relation] enable [Effect]  increase productivity",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Our profitability outlook assumes that intense price competition persists, and therefore we think the 13.8% average adjusted operating margins the company achieved between 2011 and 2015 are a thing of the past.",
    "output": "[Cause] intense price competition persists [Relation] cause [Effect] the 13.8% average adjusted operating margins the company achieved between 2011 and 2015 are a thing of the past",
    "gold": "[Cause]  intense price competition persists [Relation] cause [Effect]  the 13.8% average adjusted operating margins the company achieved between 2011 and 2015 are a thing of the past",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Spending on the fifth generation of wireless communication infrastructure should provide Nokia with brief tailwinds; however, we expect stout industry competitors to hinder its ability to consistently produce durable excess economic returns.",
    "output": "[Cause] Spending on the fifth generation of wireless communication infrastructure [Relation] enable [Effect] provide Nokia with brief tailwinds",
    "gold": "[Cause] Spending on the fifth generation of wireless communication infrastructure should provide Nokia with brief tailwinds [Relation] cause [Effect]  stout industry competitors to hinder its ability to consistently produce durable excess economic returns",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We think that there will be a lag in attendees' willingness to amass in large groups in enclosed space so attendance will lower than capacity in certain markets into 2022.",
    "output": "[Cause] there will be a lag in attendees' willingness to amass in large groups in enclosed space [Relation] cause [Effect] attendance will lower than capacity in certain markets into 2022",
    "gold": "[Cause]  there will be a lag in attendees' willingness to amass in large groups in enclosed space [Relation] cause [Effect] attendance will lower than capacity in certain markets into 2022",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "For Las Vegas we have maintained our 2020 sales forecast of a 65% decline, as we expect the recovery to be a slow pace.",
    "output": "[Cause] we expect the recovery to be a slow pace [Relation] cause [Effect] For Las Vegas we have maintained our 2020 sales forecast of a 65% decline",
    "gold": "[Cause] expect the recovery to be a slow pace. [Relation] cause [Effect]  maintained our 2020 sales forecast of a 65% decline",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "According to foreign policy experts, the threat of a crude fissile nuclear bomb in the hands of terrorists is admittedly low given the technical difficulty with manufacturing such a device, as well as difficulty gathering enough weapons-grade uranium or plutonium.",
    "output": "[Cause] the technical difficulty with manufacturing such a device, as well as difficulty gathering enough weapons-grade uranium or plutonium [Relation] cause [Effect] the threat of a crude fissile nuclear bomb in the hands of terrorists is admittedly low",
    "gold": "[Cause] the technical difficulty with manufacturing such a device, as well as difficulty gathering enough weapons-grade uranium or plutonium [Relation] cause [Effect] the threat of a crude fissile nuclear bomb in the hands of terrorists is admittedly low",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Paychex's business has been challenged as small businesses lay off employees and the company realizes lower yields on cash balances.",
    "output": "[Cause] small businesses lay off employees and the company realizes lower yields on cash balances [Relation] cause [Effect] Paychex's business has been challenged",
    "gold": "[Cause] small businesses lay off employees and the company realizes lower yields on cash balances [Relation] cause [Effect] Paychex's business has been challenged",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Roughly half of ICE's revenue is recurring, reducing the company's reliance on exchange fees, a positive given the amount of competition facing its equity trading business.",
    "output": "[Cause] Roughly half of ICE's revenue is recurring [Relation] cause [Effect] reducing the company's reliance on exchange fees",
    "gold": "[Cause] a positive given the amount of competition facing its equity trading business [Relation] cause [Effect] Roughly half of ICE's revenue is recurring, reducing the company's reliance on exchange fees",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "The specialty sweeteners and starches business in the carbohydrate solutions segment as well as the specialty ingredients products in the nutrition segment deliver higher margins, likely due to intangible assets and switching costs.",
    "output": "[Cause] intangible assets and switching costs [Relation] cause [Effect] The specialty sweeteners and starches business in the carbohydrate solutions segment as well as the specialty ingredients products in the nutrition segment deliver higher margins",
    "gold": "[Cause] intangible assets and switching costs [Relation] cause [Effect] The specialty sweeteners and starches business in the carbohydrate solutions segment as well as the specialty ingredients products in the nutrition segment deliver higher margins",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The Delaware Basin offers the best development economics in Devon's portfolio, and will be the primary growth engine for the company going forward.",
    "output": "[Cause] The Delaware Basin offers the best development economics in Devon's portfolio [Relation] enable [Effect] be the primary growth engine for the company going forward",
    "gold": "[Cause] The Delaware Basin offers the best development economics in Devon's portfolio [Relation] enable [Effect] the primary growth engine for the company going forward.",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Over time, we expect revenue and profits to decrease in this segment as these products roll off the firm's financial statements.",
    "output": "[Cause] these products roll off the firm's financial statements [Relation] cause [Effect] revenue and profits to decrease in this segment",
    "gold": "[Cause] these products roll off the firm's financial statements [Relation] cause [Effect]  revenue and profits to decrease in this segment",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Synergies stemming from the 2017 Level 3 Communications merger, a move away from less-profitable revenue, and the increase in buildings on the its own network can drive margin expansion.",
    "output": "[Cause] Synergies stemming from the 2017 Level 3 Communications merger, a move away from less-profitable revenue, and the increase in buildings on the its own network [Relation] enable [Effect] drive margin expansion",
    "gold": "[Cause] Synergies stemming from the 2017 Level 3 Communications merger, a move away from less-profitable revenue, and the increase in buildings on the its own network [Relation] enable [Effect] drive margin expansion",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Due to the risks a software switch entails in mission-critical functions, we think there's much inertia in remaining a Catia shop.",
    "output": "[Cause] the risks a software switch entails in mission-critical functions [Relation] cause [Effect] there's much inertia in remaining a Catia shop",
    "gold": "[Cause] the risks a software switch entails in mission-critical functions [Relation] cause [Effect]  there's much inertia in remaining a Catia shop",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "A key benefit of Coupa's platform is that the company does not charge businesses and suppliers on a transaction-by-transaction basis, allowing a vast portion of purchasing activity to take place without penalizing users.",
    "output": "[Cause] the company does not charge businesses and suppliers on a transaction-by-transaction basis [Relation] enable [Effect] a vast portion of purchasing activity to take place without penalizing users",
    "gold": "[Cause] the company does not charge businesses and suppliers on a transaction-by-transaction basis [Relation] enable [Effect] a vast portion of purchasing activity to take place without penalizing users",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Still, we don't see this drop to be very dramatic, as we still expect the company to report healthy revenue growth over the next several years, with a five-year compound annual growth rate of 13%.",
    "output": "[Cause] we still expect the company to report healthy revenue growth over the next several years, with a five-year compound annual growth rate of 13% [Relation] cause [Effect] we don't see this drop to be very dramatic",
    "gold": "[Cause] we still expect the company to report healthy revenue growth over the next several years, with a five-year compound annual growth rate of 13% [Relation] cause [Effect] we don't see this drop to be very dramatic",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We also expect TIM will continue investing in the fixed-line business, driving annual revenue growth in the segment of about 10% annually.",
    "output": "[Cause] TIM will continue investing in the fixed-line business [Relation] enable [Effect] annual revenue growth in the segment of about 10% annually",
    "gold": "[Cause]  TIM will continue investing in the fixed-line business [Relation] enable [Effect] annual revenue growth in the segment of about 10% annually",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We project average annual revenue growth in the low double digits over our 10-year forecast, driven by the firm's aggressive data center development and expansion into new markets.",
    "output": "[Cause] the firm's aggressive data center development and expansion into new markets [Relation] cause [Effect] average annual revenue growth in the low double digits over our 10-year forecast",
    "gold": "[Cause]  the firm's aggressive data center development and expansion into new markets [Relation] enable [Effect]  average annual revenue growth in the low double digits over our 10-year forecast",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The social networking elements inside Tencent games, which result from Weixin's and QQ's strong network effect, are the key factor in its success.",
    "output": "[Cause] The social networking elements inside Tencent games [Relation] enable [Effect] its success",
    "gold": "[Cause] Weixin's and QQ's strong network effect [Relation] enable [Effect] The social networking elements inside Tencent games",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "But then again, Garmin's 7% share shows that some customers are willing to endure such lack of capabilities for more focus on fitness functions.",
    "output": "[Cause] Garmin's 7% share [Relation] cause [Effect] some customers are willing to endure such lack of capabilities for more focus on fitness functions",
    "gold": "[Cause] some customers are willing to endure such lack of capabilities [Relation] enable [Effect] more focus on fitness functions",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Operating margins should rise as Advance cuts costs and after near-term conditions normalize, rebounding from 8% in 2018-20 and reaching 12% long term.",
    "output": "[Cause] Advance cuts costs and after near-term conditions normalize [Relation] cause [Effect] Operating margins should rise",
    "gold": "[Cause] Advance cuts costs and after near-term conditions normalize [Relation] enable [Effect] Operating margins should rise",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "But Edison now has most of its financing in place to execute its large growth plan, which ultimately will drive earnings and dividend growth.",
    "output": "[Cause] Edison now has most of its financing in place to execute its large growth plan [Relation] enable [Effect] earnings and dividend growth",
    "gold": "[Cause] Edison now has most of its financing in place to execute its large growth plan [Relation] enable [Effect] earnings and dividend growth",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "However, management's strong focus on prudent inventory management and capital stewardship has resulted in improved ROICs and cash flow generation.",
    "output": "[Cause] management's strong focus on prudent inventory management and capital stewardship [Relation] cause [Effect] improved ROICs and cash flow generation",
    "gold": "[Cause] management's strong focus on prudent inventory management and capital stewardship [Relation] cause [Effect] improved ROICs and cash flow generation",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Our fair value estimate of $28 per share is first driven by our expectations for global oil and gas exploration and development expenditures.",
    "output": "[Cause] our expectations for global oil and gas exploration and development expenditures [Relation] cause [Effect] Our fair value estimate of $28 per share",
    "gold": "[Cause] our expectations for global oil and gas exploration and development expenditures [Relation] cause [Effect] Our fair value estimate of $28 per share",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Finally, like many of its software peers, Blackbaud is ramping its investment in sales and marketing, notwithstanding a near term hiring freeze, to capitalize on its wider and stronger portfolio and the variety of growth drivers it represents.",
    "output": "[Cause] Blackbaud is ramping its investment in sales and marketing [Relation] enable [Effect] capitalize on its wider and stronger portfolio and the variety of growth drivers it represents",
    "gold": "[Cause] hiring freeze [Relation] cause [Effect] capitalize on its wider and stronger portfolio and the variety of growth drivers it represents",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "While patent losses on anemia drug Exjade and cancer drug Afinitor will weigh on near-term growth, a strong portfolio of drugs along with a robust pipeline should ensure steady long-term growth.",
    "output": "[Cause] a strong portfolio of drugs along with a robust pipeline [Relation] enable [Effect] steady long-term growth",
    "gold": "[Cause] a strong portfolio of drugs along with a robust pipeline [Relation] cause [Effect] steady long-term growth",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In the past year, gold prices rose to more than $1,900 per ounce as investment demand has strengthened during the COVID-19 pandemic.",
    "output": "[Cause] investment demand has strengthened during the COVID-19 pandemic [Relation] cause [Effect] gold prices rose to more than $1,900 per ounce",
    "gold": "[Cause] investment demand has strengthened during the COVID-19 pandemic [Relation] cause [Effect] gold prices rose to more than $1,900 per ounce",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Working capital vigilance and scale should lift Advance's payables to inventory ratio to around 90% long term, from 77% in 2019.",
    "output": "[Cause] Working capital vigilance and scale [Relation] enable [Effect] lift Advance's payables to inventory ratio to around 90% long term, from 77% in 2019",
    "gold": "[Cause] from 77% [Relation] enable [Effect] to inventory ratio to around 90% long term",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "On top of that, we believe AH's premium pricing has been accompanied by more expensive operations (versus no-frills competitors) in an effort to differentiate its broad offering and enrich the costumer experience.",
    "output": "[Cause] AH's premium pricing has been accompanied by more expensive operations [Relation] enable [Effect] differentiate its broad offering and enrich the costumer experience",
    "gold": "[Cause] more expensive operations [Relation] cause [Effect] AH's premium pricing",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Infineon is closely tied to the health of the automotive industry, and weakness in this end market could spell trouble for the firm.",
    "output": "[Cause] weakness in this end market [Relation] cause [Effect] spell trouble for the firm",
    "gold": "[Cause]  weakness in this end market [Relation] cause [Effect] spell trouble for the firm",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Wealth Management has been a focus for FactSet in recent years as FactSet has been able to take its research content and repackage it for financial advisors.",
    "output": "[Cause] FactSet has been able to take its research content and repackage it for financial advisors [Relation] cause [Effect] Wealth Management has been a focus for FactSet in recent years",
    "gold": "[Cause]  FactSet has been able to take its research content and repackage it for financial advisors [Relation] cause [Effect] Wealth Management has been a focus for FactSet in recent years",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We think regulatory risk relating to Canada potentially banning Huawei equipment in 5G networks is now largely past, as Telus chose Nokia and Ericsson as 5G network partners.",
    "output": "[Cause] Telus chose Nokia and Ericsson as 5G network partners [Relation] cause [Effect] regulatory risk relating to Canada potentially banning Huawei equipment in 5G networks is now largely past",
    "gold": "[Cause] Telus chose Nokia and Ericsson as 5G network partners [Relation] cause [Effect] regulatory risk relating to Canada potentially banning Huawei equipment in 5G networks is now largely past",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The new CEO unveiled a five-year strategic plan that will concentrate investments both geographically and on emerging categories that are likely to become the largest profit pools in the future.",
    "output": "[Cause] The new CEO unveiled a five-year strategic plan [Relation] enable [Effect] concentrate investments both geographically and on emerging categories that are likely to become the largest profit pools in the future",
    "gold": "[Cause] a five-year strategic plan that will concentrate investments both geographically and on emerging categories [Relation] enable [Effect] become the largest profit pools in the future",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We believe General Mills possesses a competitive edge stemming from its strong brand equity, preferred status with its retail partners, which allows the firm to secure valuable shelf space, and cost advantage.",
    "output": "[Cause] its strong brand equity, preferred status with its retail partners [Relation] enable [Effect] General Mills possesses a competitive edge",
    "gold": "[Cause] General Mills possesses a competitive edge stemming from its strong brand equity, preferred status with its retail partner [Relation] enable [Effect] the firm to secure valuable shelf space, and cost advantage",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We believe General Mills possesses a competitive edge stemming from its strong brand equity, preferred status with its retail partners, which allows the firm to secure valuable shelf space, and cost advantage.",
    "output": "[Cause] General Mills possesses a competitive edge stemming from its strong brand equity, preferred status with its retail partners [Relation] enable [Effect] the firm to secure valuable shelf space, and cost advantage",
    "gold": "[Cause] its strong brand equity [Relation] enable [Effect] General Mills possesses a competitive edge",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "In our opinion, Paragard is well positioned to benefit from secular trends toward increased adoption of IUDs in the U.S.",
    "output": "[Cause] secular trends toward increased adoption of IUDs in the U.S [Relation] enable [Effect] Paragard is well positioned to benefit",
    "gold": "[Cause] secular trends toward increased adoption of IUDs in the U.S [Relation] cause [Effect] Paragard is well positioned to benefit",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Cenovus' oil sands assets are best in class when it comes to supply costs, which should enable cash flow generation at lower prices than peers.",
    "output": "[Cause] Cenovus' oil sands assets are best in class when it comes to supply costs [Relation] enable [Effect] cash flow generation at lower prices than peers",
    "gold": "[Cause] Cenovus' oil sands assets are best in class when it comes to supply costs [Relation] enable [Effect] cash flow generation at lower prices than peers",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Unlike rivals, Kroger manufactures around 40% of its own brand grocery offerings, allowing it to elevate quality while containing production costs.",
    "output": "[Cause] Kroger manufactures around 40% of its own brand grocery offerings [Relation] enable [Effect] elevate quality while containing production costs",
    "gold": "[Cause] Kroger manufactures around 40% of its own brand grocery offerings [Relation] enable [Effect]  elevate quality while containing production costs",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The risk from carbon emissions is most likely to materialize through a carbon tax, which increases the price of end products to consumers, reducing demand over time and threatening Shell's hydrocarbon business.",
    "output": "[Cause] a carbon tax [Relation] cause [Effect] The risk from carbon emissions is most likely to materialize",
    "gold": "[Cause] a carbon tax [Relation] cause [Effect] increases the price of end products to consumers, reducing demand over time and threatening Shell's hydrocarbon business",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "The risk from carbon emissions is most likely to materialize through a carbon tax, which increases the price of end products to consumers, reducing demand over time and threatening Shell's hydrocarbon business.",
    "output": "[Cause] a carbon tax [Relation] cause [Effect] increases the price of end products to consumers, reducing demand over time and threatening Shell's hydrocarbon business",
    "gold": "[Cause] a carbon tax [Relation] cause [Effect] The risk from carbon emissions",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "This increase was primarily due to our increased conviction that the cabinets business can sustain a higher level of profitability throughout the business cycle thanks to management's market repositioning and restructuring efforts.",
    "output": "[Cause] management's market repositioning and restructuring efforts [Relation] enable [Effect] the cabinets business can sustain a higher level of profitability throughout the business cycle",
    "gold": "[Cause] management's market repositioning and restructuring efforts [Relation] cause [Effect]  the cabinets business can sustain a higher level of profitability throughout the business cycle",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In Avery's LGM business, we expect margins to come under pressure in the long run, falling gradually toward 13% 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 13%",
    "gold": "[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 13%",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "ON Semiconductor is well placed to benefit from the content growth in the automotive market and the increasingly complex power and connectivity needs of the industrial, data center, and communications infrastructure markets.",
    "output": "[Cause] the content growth in the automotive market and the increasingly complex power and connectivity needs of the industrial, data center, and communications infrastructure markets [Relation] enable [Effect] ON Semiconductor is well placed to benefit",
    "gold": "[Cause] ON Semiconductor is well placed [Relation] enable [Effect] the content growth in the automotive market and the increasingly complex power and connectivity needs of the industrial, data center, and communications infrastructure markets",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "In fact, we suspect that absent government intervention, the rational number of competitors on the continent would be two, via additional consolidation.",
    "output": "[Cause] absent government intervention [Relation] cause [Effect] the rational number of competitors on the continent would be two, via additional consolidation",
    "gold": "[Cause] additional consolidation [Relation] cause [Effect] the rational number of competitors on the continent would be two",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Aside from strength in developed markets, the firm faces brighter growth prospects in emerging markets, where the growth of middle-class families has spurred demand for pediatric and adult nutrition products.",
    "output": "[Cause] the growth of middle-class families has spurred demand for pediatric and adult nutrition products [Relation] cause [Effect] the firm faces brighter growth prospects in emerging markets",
    "gold": "[Cause] the growth of middle-class families has spurred demand for pediatric and adult nutrition products [Relation] cause [Effect]  the firm faces brighter growth prospects in emerging markets",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "As such, builders are largely reluctant to substitute Hardie products for an equivalent, given the additional effort and time required to use a less familiar product.",
    "output": "[Cause] the additional effort and time required to use a less familiar product [Relation] cause [Effect] builders are largely reluctant to substitute Hardie products for an equivalent",
    "gold": "[Cause]  the additional effort and time required to use a less familiar product [Relation] cause [Effect] builders are largely reluctant to substitute Hardie products for an equivalent",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We believe the strength of the Coach brand has made it one of the largest luxury handbag companies in the world in terms of units and revenue.",
    "output": "[Cause] the strength of the Coach brand [Relation] enable [Effect] it one of the largest luxury handbag companies in the world in terms of units and revenue",
    "gold": "[Cause] the strength of the Coach brand [Relation] cause [Effect] it one of the largest luxury handbag companies in the world in terms of units and revenue",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Given the pressure that low interest rates are having on net interest income and money market fee waivers, we expect management to continue to focus on expense control.",
    "output": "[Cause] the pressure that low interest rates are having on net interest income and money market fee waivers [Relation] cause [Effect] management to continue to focus on expense control",
    "gold": "[Cause]  the pressure that low interest rates are having on net interest income and money market fee waivers [Relation] cause [Effect] management to continue to focus on expense control",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The company's access to customer channels is unparalleled; the legacy Fisher catalog dominates the marketplace, as its next-largest competitor, VWR International, is significantly smaller.",
    "output": "[Cause] its next-largest competitor, VWR International, is significantly smaller [Relation] cause [Effect] The company's access to customer channels is unparalleled; the legacy Fisher catalog dominates the marketplace",
    "gold": "[Cause] The company's access to customer channels is unparalleled [Relation] cause [Effect] the legacy Fisher catalog dominates the marketplace",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Due to capital intensity, especially in heavy truck operations, we expect highly unfavorable operating leverage resulting from COVID-19 factory closures.",
    "output": "[Cause] capital intensity, especially in heavy truck operations [Relation] cause [Effect] highly unfavorable operating leverage resulting from COVID-19 factory closures",
    "gold": "[Cause]  highly unfavorable operating leverage [Relation] cause [Effect] COVID-19 factory closures",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "All of HollyFrontier's refineries are in the midcontinent, ensuring it 405 mb/d of capacity to process either discount light or heavy crude, while it enjoys a discount, given their proximity to the source of production.",
    "output": "[Cause] All of HollyFrontier's refineries are in the midcontinent [Relation] enable [Effect] it 405 mb/d of capacity to process either discount light or heavy crude, while it enjoys a discount, given their proximity to the source of production",
    "gold": "[Cause] given their proximity to the source of production [Relation] cause [Effect] it enjoys a discount",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Over the past decade, the firm was slow to respond to consumers' growing preference for Greek yogurt, and Yoplait lost significant share.",
    "output": "[Cause] the firm was slow to respond to consumers' growing preference for Greek yogurt [Relation] cause [Effect] Yoplait lost significant share",
    "gold": "[Cause]  slow to respond to consumers' growing preference [Relation] cause [Effect]  lost significant share.",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Given the firm has historically produced one third of its top line growth inorganically, any slowdown in M&A could slow growth prospects.",
    "output": "[Cause] the firm has historically produced one third of its top line growth inorganically [Relation] cause [Effect] any slowdown in M&A could slow growth prospects",
    "gold": "[Cause] the firm has historically produced one third of its top line growth inorganically [Relation] cause [Effect] any slowdown in M&A could slow growth prospects",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Intesa's insurance business is well integrated with the banking operation, and we believe it adds switching costs, as it increases Intesa's cross-selling of products to clients, making it harder for them to move to another institution that may not offer the same product range.",
    "output": "[Cause] it increases Intesa's cross-selling of products to clients, making it harder for them to move to another institution that may not offer the same product range [Relation] cause [Effect] Intesa's insurance business is well integrated with the banking operation, and we believe it adds switching costs",
    "gold": "[Cause] Intesa's insurance business is well integrated with the banking operation, and we believe it adds switching costs, as it increases Intesa's cross-selling of products to clients [Relation] enable [Effect] it increases Intesa's cross-selling of products to clients",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Winnebago's towable share is only about 10%, up from about 1% before Grand Design, so we see a long growth runway if it can keep chipping into Thor's and Forest River's 82% combined share.",
    "output": "[Cause] Winnebago's towable share is only about 10%, up from about 1% before Grand Design [Relation] cause [Effect] a long growth runway if it can keep chipping into Thor's and Forest River's 82% combined share",
    "gold": "[Cause] it can keep chipping into Thor's and Forest River's 82% combined share [Relation] enable [Effect] we see a long growth runway",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "This example illustrates the key problem with breaking into aircraft manufacturing: If a competitor goes through the arduous process of developing an aircraft, potential customers face massive switching costs and are thus quite conservative in their purchasing habits.",
    "output": "[Cause] a competitor goes through the arduous process of developing an aircraft [Relation] cause [Effect] potential customers face massive switching costs",
    "gold": "[Cause] a competitor goes through the arduous process of developing an aircraft [Relation] enable [Effect] potential customers face massive switching costs",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The company's heavy investment in technology and marketing has enabled it to use online bank accounts to build an asset and deposit base that is national in scope while maintaining a limited branch network.",
    "output": "[Cause] The company's heavy investment in technology and marketing [Relation] enable [Effect] it to use online bank accounts to build an asset and deposit base that is national in scope while maintaining a limited branch network",
    "gold": "[Cause] The company's heavy investment in technology and marketing [Relation] enable [Effect] it to use online bank accounts to build an asset and deposit base that is national in scope while maintaining a limited branch network",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Aside from the apparent bargaining power of customers, from a Porter's Five Forces perspective, we believe IP suffers from inherently weak bargaining power with its own suppliers, given that suppliers haven't historically been held financially accountable for delivery delays.",
    "output": "[Cause] suppliers haven't historically been held financially accountable for delivery delays [Relation] cause [Effect] IP suffers from inherently weak bargaining power with its own suppliers",
    "gold": "[Cause] suppliers haven't historically been held financially accountable for delivery delays [Relation] cause [Effect] IP suffers from inherently weak bargaining power with its own suppliers",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Although Furnishings, Fixtures & Appliancescheaper options exist, the potential savings is not nearly enough for homebuilders to risk impairing their reputation and incurring replacement costs on low-quality, malfunctioning hardware.",
    "output": "[Cause] Furnishings, Fixtures & Appliancescheaper options exist [Relation] cause [Effect] the potential savings is not nearly enough for homebuilders to risk impairing their reputation and incurring replacement costs on low-quality, malfunctioning hardware",
    "gold": "[Cause] impairing their reputation and incurring replacement costs on low-quality, malfunctioning hardware [Relation] prevent [Effect] homebuilders to risk",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We expect Advance to post 4% full-year growth (after 2% expansion through the first nine months of 2020), with the addition of DieHard boosting winter sales as DIY remains strong as the pandemic wears on.",
    "output": "[Cause] DIY remains strong as the pandemic wears on [Relation] cause [Effect] the addition of DieHard boosting winter sales",
    "gold": "[Cause] the addition of DieHard boosting winter sales as DIY remains strong as the pandemic wears on [Relation] enable [Effect] Advance to post 4% full-year growth (after 2% expansion through the first nine months of 2020)",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Family control can raise succession issues, but we also feel if the family wanted an outsider to be CEO that president Jeff Dyke, 53, could handle the job well.",
    "output": "[Cause] the family wanted an outsider to be CEO [Relation] cause [Effect] raise succession issues",
    "gold": "[Cause] Family control [Relation] cause [Effect] raise succession issues",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Family control can raise succession issues, but we also feel if the family wanted an outsider to be CEO that president Jeff Dyke, 53, could handle the job well.",
    "output": "[Cause] the family wanted an outsider to be CEO [Relation] enable [Effect] president Jeff Dyke, 53, could handle the job well",
    "gold": "[Cause] the family wanted an outsider to be CEO [Relation] cause [Effect] president Jeff Dyke, 53, could handle the job well",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "If Bath & Body becomes a stand-alone business, long-term operating margins could reach a high-teens rate, as segment economics are crimped by a rising shift to the e-commerce channel and the attendant shipping costs.",
    "output": "[Cause] segment economics are crimped by a rising shift to the e-commerce channel and the attendant shipping costs [Relation] cause [Effect] long-term operating margins could reach a high-teens rate",
    "gold": "[Cause] Bath & Body becomes a stand-alone business [Relation] enable [Effect] long-term operating margins could reach a high-teens rate",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "If Bath & Body becomes a stand-alone business, long-term operating margins could reach a high-teens rate, as segment economics are crimped by a rising shift to the e-commerce channel and the attendant shipping costs.",
    "output": "[Cause] segment economics are crimped by a rising shift to the e-commerce channel and the attendant shipping costs [Relation] cause [Effect] long-term operating margins could reach a high-teens rate",
    "gold": "[Cause] a rising shift to the e-commerce channel and the attendant shipping costs [Relation] cause [Effect] segment economics are crimped",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Though crude prices fell dramatically due to economic slowdown related to the pandemic, prices could further rebound with the resumption of economic activity.",
    "output": "[Cause] economic slowdown related to the pandemic [Relation] cause [Effect] crude prices fell dramatically",
    "gold": "[Cause] economic slowdown related to the pandemic [Relation] cause [Effect] crude prices fell dramatically",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Our cost of equity assumption is in line with the rate of return we expect investors will demand reflecting Ormat's lower sensitivity to the economic cycle and lower degree of operating leverage.",
    "output": "[Cause] Ormat's lower sensitivity to the economic cycle and lower degree of operating leverage [Relation] cause [Effect] Our cost of equity assumption is in line with the rate of return we expect investors will demand",
    "gold": "[Cause] Ormat's lower sensitivity to the economic cycle and lower degree of operating leverage [Relation] cause [Effect] Our cost of equity assumption is in line with the rate of return we expect investors will demand",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Over time, the product set of bank technology companies has widened significantly, as technology has come to play a greater role in banking operations.",
    "output": "[Cause] technology has come to play a greater role in banking operations [Relation] cause [Effect] the product set of bank technology companies has widened significantly",
    "gold": "[Cause] technology has come to play a greater role in banking operations [Relation] cause [Effect] the product set of bank technology companies has widened significantly",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We think these users are drawn to the brand in the first place because of its perception as the industry standard in rugged wearables and handhelds.",
    "output": "[Cause] its perception as the industry standard in rugged wearables and handhelds [Relation] cause [Effect] these users are drawn to the brand in the first place",
    "gold": "[Cause] its perception as the industry standard in rugged wearables and handhelds [Relation] cause [Effect] these users are drawn to the brand in the first place",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Schnitzer's margins are less susceptible to volatile swings, given that the scrap purchasing and selling prices tend to move in tandem.",
    "output": "[Cause] the scrap purchasing and selling prices tend to move in tandem [Relation] cause [Effect] Schnitzer's margins are less susceptible to volatile swings",
    "gold": "[Cause] the scrap purchasing and selling prices tend to move in tandem [Relation] cause [Effect] Schnitzer's margins are less susceptible to volatile swings",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Pricing pressure has also increased in fixed-line broadband in certain high-value areas as China Mobile has increased its focus in that market.",
    "output": "[Cause] China Mobile has increased its focus in that market [Relation] cause [Effect] Pricing pressure has also increased in fixed-line broadband in certain high-value areas",
    "gold": "[Cause] Pricing pressure has also increased in fixed-line broadband in certain high-value areas [Relation] cause [Effect] China Mobile has increased its focus in that market",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Splunk offers a suite of products linked to its Data-to-Everything platform that ensures smooth business operations and generates data analytics and insights.",
    "output": "[Cause] Splunk offers a suite of products linked to its Data-to-Everything platform [Relation] enable [Effect] ensures smooth business operations and generates data analytics and insights",
    "gold": "[Cause] Splunk offers a suite of products linked to its Data-to-Everything platform [Relation] enable [Effect] ensures smooth business operations and generates data analytics and insights",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The TNT integration made headway in the firm's fiscal 2020, and we expect efforts to gradually bear fruit in Europe as FedEx fully integrates all of its ground and express assets there.",
    "output": "[Cause] FedEx fully integrates all of its ground and express assets there [Relation] cause [Effect] efforts to gradually bear fruit in Europe",
    "gold": "[Cause] FedEx fully integrates all of its ground and express assets there [Relation] cause [Effect]  efforts to gradually bear fruit in Europe",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We believe that Palo Alto shrewdly sees that increased data and traffic will refine its machine learning tools, which will increase the accuracy and speed to segregate threats from safe traffic.",
    "output": "[Cause] increased data and traffic will refine its machine learning tools [Relation] enable [Effect] increase the accuracy and speed to segregate threats from safe traffic",
    "gold": "[Cause]  increased data and traffic will refine its machine learning tools [Relation] enable [Effect]  increase the accuracy and speed to segregate threats from safe traffic",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "While Welltower is in sectors that use a triple-net lease structure that can have long contracts with annual rent increases, there are precedents that show these contracts are renegotiated if the underlying tenant operations are under pressure.",
    "output": "[Cause] the underlying tenant operations are under pressure [Relation] cause [Effect] these contracts are renegotiated",
    "gold": "[Cause] the underlying tenant operations are under pressure [Relation] cause [Effect] these contracts are renegotiated",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "PG&E's inability to access capital markets at reasonable prices due to wildfire-related legal, regulatory, and political concerns led to the company's bankruptcy in January 2019.",
    "output": "[Cause] wildfire-related legal, regulatory, and political concerns [Relation] cause [Effect] PG&E's inability to access capital markets at reasonable prices",
    "gold": "[Cause] wildfire-related legal, regulatory, and political concerns [Relation] prevent [Effect] PG&E's inability to access capital markets at reasonable prices",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "PG&E's inability to access capital markets at reasonable prices due to wildfire-related legal, regulatory, and political concerns led to the company's bankruptcy in January 2019.",
    "output": "[Cause] wildfire-related legal, regulatory, and political concerns [Relation] cause [Effect] the company's bankruptcy in January 2019",
    "gold": "[Cause] PG&E's inability to access capital markets at reasonable prices [Relation] cause [Effect] the company's bankruptcy in January 2019",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Once the practice has installed the base equipment and trained its vet techs on it, practices are more likely to stick with Idexx than to switch to another brand.",
    "output": "[Cause] the practice has installed the base equipment and trained its vet techs on it [Relation] cause [Effect] practices are more likely to stick with Idexx than to switch to another brand",
    "gold": "[Cause]  the practice has installed the base equipment and trained its vet techs on it [Relation] cause [Effect] practices are more likely to stick with Idexx than to switch to another brand",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "However, the firm's robust operating margins speak to a different iteration of intangibles; one where the resonance of its brands allows it to achieve similar consumer adoption with a structurally leaner operational infrastructure (primarily in terms of its salesforce and marketing budget).",
    "output": "[Cause] the resonance of its brands [Relation] enable [Effect] achieve similar consumer adoption with a structurally leaner operational infrastructure",
    "gold": "[Cause] a different iteration of intangibles [Relation] enable [Effect] the firm's robust operating margins",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "However, the firm's robust operating margins speak to a different iteration of intangibles; one where the resonance of its brands allows it to achieve similar consumer adoption with a structurally leaner operational infrastructure (primarily in terms of its salesforce and marketing budget).",
    "output": "[Cause] the resonance of its brands [Relation] enable [Effect] achieve similar consumer adoption with a structurally leaner operational infrastructure",
    "gold": "[Cause] resonance of its brands [Relation] enable [Effect] similar consumer adoption with a structurally leaner operational infrastructure (primarily in terms of its salesforce and marketing budget)",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "But demand has persisted despite the pandemic, and innovation should continue to drive sales, particularly in the marine segment where BRP has launched Project Ghost (altering placement of outboard engines) and Project M (reaching entry-level pontoon consumers), offerings we think will be differentiated from existing products.",
    "output": "[Cause] innovation [Relation] enable [Effect] drive sales",
    "gold": "[Cause] innovation should continue to drive sales [Relation] cause [Effect] offerings we think will be differentiated from existing products",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "With nearly 30% of loans outstanding held abroad, the bank is in a unique position to benefit from Latin American emerging-market growth.",
    "output": "[Cause] nearly 30% of loans outstanding held abroad [Relation] enable [Effect] the bank is in a unique position to benefit from Latin American emerging-market growth",
    "gold": "[Cause] nearly 30% of loans outstanding held abroad [Relation] cause [Effect] the bank is in a unique position to benefit from Latin American emerging-market growth",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We believe risk stemming from environmental, social, and governance concerns is manageable, as the factors with most materiality (higher cost of wages and turnover, as well as higher energy costs) still provide low risk to economic profits.",
    "output": "[Cause] the factors with most materiality (higher cost of wages and turnover, as well as higher energy costs) still provide low risk to economic profits [Relation] cause [Effect] risk stemming from environmental, social, and governance concerns is manageable",
    "gold": "[Cause] the factors with most materiality (higher cost of wages and turnover, as well as higher energy costs) still provide low risk to economic profits [Relation] cause [Effect] risk stemming from environmental, social, and governance concerns is manageable",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Intangibles--including the firm's extensive testing menu, intellectual property, technological expertise, and established relationships with governments and hospitals--increase the barriers of entry into the space, while the razor-and-blade model of the newborn screening business makes customers hesitant to switch providers.",
    "output": "[Cause] Intangibles--including the firm's extensive testing menu, intellectual property, technological expertise, and established relationships with governments and hospitals [Relation] cause [Effect] increase the barriers of entry into the space",
    "gold": "[Cause] Intangibles--including the firm's extensive testing menu, intellectual property, technological expertise, and established relationships with governments and hospitals [Relation] cause [Effect] increase the barriers of entry into the space",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Intangibles--including the firm's extensive testing menu, intellectual property, technological expertise, and established relationships with governments and hospitals--increase the barriers of entry into the space, while the razor-and-blade model of the newborn screening business makes customers hesitant to switch providers.",
    "output": "[Cause] the razor-and-blade model of the newborn screening business [Relation] cause [Effect] customers hesitant to switch providers",
    "gold": "[Cause] the razor-and-blade model of the newborn screening business [Relation] cause [Effect] customers hesitant to switch providers",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Nevertheless, when supply expands too much and prices fall, it leaves the firm vulnerable to economic losses, and we don't think Western is able to sustain economic profits over the course of the cycle.",
    "output": "[Cause] supply expands too much and prices fall [Relation] cause [Effect] the firm vulnerable to economic losses",
    "gold": "[Cause] supply expands too much and prices fall [Relation] cause [Effect] the firm vulnerable to economic losses",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Around 96% of its transactions are tied to a loyalty card, leaving Kroger with more than 60 million households' worth of behavioral information and data that extends back years.",
    "output": "[Cause] Around 96% of its transactions are tied to a loyalty card [Relation] cause [Effect] Kroger with more than 60 million households' worth of behavioral information and data that extends back years",
    "gold": "[Cause] Around 96% of its transactions are tied to a loyalty card [Relation] cause [Effect]  Kroger with more than 60 million households' worth of behavioral information and data that extends back years",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We expect operating margins to improve significantly from 18% in 2019 on a pro forma basis to 25% by 2024. This improvement comes mainly from the company's recent restructuring efforts, cost synergies from the Willis Towers Watson merger and from lower purchase amortization expense over time.",
    "output": "[Cause] the company's recent restructuring efforts, cost synergies from the Willis Towers Watson merger and from lower purchase amortization expense over time [Relation] cause [Effect] operating margins to improve significantly from 18% in 2019 on a pro forma basis to 25% by 2024",
    "gold": "[Cause] the company's recent restructuring efforts, cost synergies from the Willis Towers Watson merger and from lower purchase amortization expense over time [Relation] cause [Effect] operating margins to improve significantly from 18% in 2019 on a pro forma basis to 25% by 2024",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Lastly, we 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.",
    "output": "[Cause] the increasing awareness of the importance of software security in chips and applications [Relation] enable [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] enable [Effect] propel mid- to high teens growth for Synopsys' newer software integrity segment",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We think that Imax box office finally surpasses the 2019 levels in 2022 as consumers return to theaters and the firm's footprint continues to grow.",
    "output": "[Cause] consumers return to theaters and the firm's footprint continues to grow [Relation] cause [Effect] Imax box office finally surpasses the 2019 levels in 2022",
    "gold": "[Cause] consumers return to theaters and the firm's footprint continues to grow [Relation] cause [Effect] Imax box office finally surpasses the 2019 levels in 2022",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "After the Andeavor acquisition, Marathon Petroleum holds a larger, more geographically diverse portfolio with high-complexity facilities in the midcontinent, West Coast, and Gulf Coast.",
    "output": "[Cause] the Andeavor acquisition [Relation] cause [Effect] Marathon Petroleum holds a larger, more geographically diverse portfolio with high-complexity facilities in the midcontinent, West Coast, and Gulf Coast",
    "gold": "[Cause] the Andeavor acquisition [Relation] enable [Effect] Marathon Petroleum holds a larger, more geographically diverse portfolio with high-complexity facilities in the midcontinent, West Coast, and Gulf Coast",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We still see consolidated comp growth in the mid single digits as a realistic goal over the next five years through new menu innovations, digital/drive-thru/delivery efforts, and inflationary price increases.",
    "output": "[Cause] new menu innovations, digital/drive-thru/delivery efforts, and inflationary price increases [Relation] enable [Effect] consolidated comp growth in the mid single digits as a realistic goal over the next five years",
    "gold": "[Cause]  a realistic goal over the next five years through new menu innovations, digital/drive-thru/delivery efforts, and inflationary price increases [Relation] cause [Effect] We still see consolidated comp growth in the mid single digits",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "In addition to the reputational threat, these issues could force climate-conscious consumers away from fossil fuels in greater numbers, resulting in long-term demand erosion.",
    "output": "[Cause] climate-conscious consumers away from fossil fuels in greater numbers [Relation] cause [Effect] long-term demand erosion",
    "gold": "[Cause]  these issues [Relation] cause [Effect] climate-conscious consumers away from fossil fuels in greater numbers | long-term demand erosion | the reputational threat",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Other P2P firms can charge businesses based on purchase order size and frequency, and take a cut of the price paid to the supplier as well. As a result, businesses tend to control a smaller amount of spending within the P2P platform and miss out on some of the possible cost savings, while suppliers do not reap full profits from the sale of their products.",
    "output": "[Cause] Other P2P firms can charge businesses based on purchase order size and frequency, and take a cut of the price paid to the supplier as well [Relation] cause [Effect] businesses tend to control a smaller amount of spending within the P2P platform and miss out on some of the possible cost savings, while suppliers do not reap full profits from the sale of their products",
    "gold": "[Cause] Other P2P firms can charge businesses based on purchase order size and frequency, and take a cut of the price paid to the supplier as well [Relation] cause [Effect] businesses tend to control a smaller amount of spending within the P2P platform and miss out on some of the possible cost savings, while suppliers do not reap full profits from the sale of their products",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Small modifications to the fermentation process or hop composition can result in a variety of distinct tastes, which makes differentiation less difficult than in other industries.",
    "output": "[Cause] Small modifications to the fermentation process or hop composition [Relation] cause [Effect] a variety of distinct tastes",
    "gold": "[Cause] Small modifications to the fermentation process or hop composition can result in a variety of distinct tastes [Relation] enable [Effect] makes differentiation less difficult than in other industries",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Tyson's 0.6% is much lower than peers because the company only advertises for the 35% of its portfolio that is branded.",
    "output": "[Cause] the company only advertises for the 35% of its portfolio that is branded [Relation] cause [Effect] Tyson's 0.6% is much lower than peers",
    "gold": "[Cause]  the company only advertises for the 35% of its portfolio that is branded [Relation] cause [Effect] Tyson's 0.6% is much lower than peers",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Pentair's third-quarter sales and adjusted EPS both meaningfully surpassed our expectations thanks to strong double-digit revenue growth in consumer solutions.",
    "output": "[Cause] strong double-digit revenue growth in consumer solutions [Relation] cause [Effect] Pentair's third-quarter sales and adjusted EPS both meaningfully surpassed our expectations",
    "gold": "[Cause]  strong double-digit revenue growth in consumer solutions [Relation] cause [Effect] Pentair's third-quarter sales and adjusted EPS both meaningfully surpassed our expectations",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "This should support 6.5% annual earnings per share growth following the earnings decline in 2020 due to the abandonment of the Atlantic Coast Pipeline and the sale of most of the assets in the gas transmission and storage segment.",
    "output": "[Cause] the abandonment of the Atlantic Coast Pipeline and the sale of most of the assets in the gas transmission and storage segment [Relation] cause [Effect] support 6.5% annual earnings per share growth following the earnings decline in 2020",
    "gold": "[Cause]  the earnings decline in 2020 [Relation] cause [Effect] This should support 6.5% annual earnings per share growth",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Although the company's 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] the company's international presence [Relation] cause [Effect] new growth opportunities, diversifies revenue, and damps cyclicality",
    "gold": "[Cause] the company's international presence provides new growth opportunities, diversifies revenue, and damps cyclicality [Relation] enable [Effect] it also exposes the company to foreign currency, economic, and other risks",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Over the longer term, we expect features such as the development of predictive algorithms and integration with continuous glucose monitors to support growth in the user base.",
    "output": "[Cause] features such as the development of predictive algorithms and integration with continuous glucose monitors [Relation] enable [Effect] support growth in the user base",
    "gold": "[Cause] Over the longer term, we expect features such as the development of predictive algorithms and integration [Relation] enable [Effect] with continuous glucose monitors to support growth in the user base",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Cost pressures in the livestock and poultry production industries may translate into heightened competition and less negotiating leverage for Idexx.",
    "output": "[Cause] Cost pressures in the livestock and poultry production industries [Relation] cause [Effect] heightened competition and less negotiating leverage for Idexx",
    "gold": "[Cause] Cost pressures in the livestock and poultry production industries [Relation] cause [Effect] heightened competition and less negotiating leverage for Idexx",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Even without new major acquisitions, revenue growth for Nexstar will be lumpy moving forward because of the even-year impact of elections and Olympic games on ad revenue growth.",
    "output": "[Cause] the even-year impact of elections and Olympic games on ad revenue growth [Relation] cause [Effect] revenue growth for Nexstar will be lumpy moving forward",
    "gold": "[Cause] the even-year impact of elections and Olympic games on ad revenue growth [Relation] cause [Effect]  revenue growth for Nexstar will be lumpy moving forward",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "With the company being in its rapid growth stage, these metrics do not showcase the margin expansion we expect throughout the 2020s.",
    "output": "[Cause] the company being in its rapid growth stage [Relation] cause [Effect] these metrics do not showcase the margin expansion we expect throughout the 2020s",
    "gold": "[Cause] the company being in its rapid growth stage [Relation] cause [Effect] these metrics do not showcase the margin expansion we expect throughout the 2020s",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Critically, we're anticipating 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] Boeing commercial's operating margin to a midteens level",
    "gold": "[Cause] volume increases in the high-margin 737 MAX [Relation] enable [Effect] Boeing commercial's operating margin to a midteens level",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The firm's gross margin is set to stabilize thanks to refocused efforts on more profitable markets, and our base case assumes that it stabilizes around 30% in 2030, helped by a more measured approach to entering new products and markets.",
    "output": "[Cause] refocused efforts on more profitable markets [Relation] enable [Effect] The firm's gross margin is set to stabilize",
    "gold": "[Cause] refocused efforts on more profitable markets [Relation] cause [Effect] The firm's gross margin is set to stabilize",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Because of the firm's focus on early cancer screening and the significant upfront investment required to bring these tests to market, we are not yet convinced that Guardant has sustainable competitive advantages that are more likely than not to last 10 years.",
    "output": "[Cause] the firm's focus on early cancer screening and the significant upfront investment required to bring these tests to market [Relation] cause [Effect] we are not yet convinced that Guardant has sustainable competitive advantages that are more likely than not to last 10 years",
    "gold": "[Cause] the firm's focus on early cancer screening and the significant upfront investment required to bring these tests to market [Relation] cause [Effect] we are not yet convinced that Guardant has sustainable competitive advantages that are more likely than not to last 10 years",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "SQM has a cost advantage in lithium production due to its lucrative brine assets in the Salar de Atacama in Chile.",
    "output": "[Cause] its lucrative brine assets in the Salar de Atacama in Chile [Relation] cause [Effect] SQM has a cost advantage in lithium production",
    "gold": "[Cause] its lucrative brine assets in the Salar de Atacama in Chile [Relation] cause [Effect] SQM has a cost advantage in lithium production",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We expect a 2021 coronavirus vaccine will spur a recovery in away-from-home dining, resulting in 14% and 9% bumps in organic sales in 2021 and 2022, respectively.",
    "output": "[Cause] a 2021 coronavirus vaccine [Relation] cause [Effect] spur a recovery in away-from-home dining",
    "gold": "[Cause] We expect a 2021 coronavirus vaccine will spur a recovery in away-from-home dining [Relation] cause [Effect]  resulting in 14% and 9% bumps in organic sales in 2021 and 2022, respectively",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Overall, managed-care plans help states lower the cost and risk associated with serving its Medicaid population, which is why a state would choose to outsource at least part of its Medicaid program to a company like Centene.",
    "output": "[Cause] managed-care plans help states lower the cost and risk associated with serving its Medicaid population [Relation] cause [Effect] a state would choose to outsource at least part of its Medicaid program to a company like Centene",
    "gold": "[Cause]  managed-care plans help states lower the cost and risk associated with serving its Medicaid population [Relation] cause [Effect]  a state would choose to outsource at least part of its Medicaid program to a company like Centene",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Cigna's acquisition of Express Scripts, a top-tier PBM now called Evernorth, should be instrumental in reaching its cost trend goal, and we view the PBM as competitively advantaged in its own right with cost advantages and switching costs present in this business.",
    "output": "[Cause] Cigna's acquisition of Express Scripts, a top-tier PBM now called Evernorth [Relation] enable [Effect] reaching its cost trend goal",
    "gold": "[Cause] the PBM as competitively advantaged in its own right with cost advantages and switching costs present in this business [Relation] cause [Effect]  instrumental in reaching its cost trend goal",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We think cloud expansion and growth in edge applications will spur enough demand for these higher-margin drives in the short term to offset declines in consumer-level HDDs as they get replaced by faster flash-based solid state drives, or SSDs.",
    "output": "[Cause] cloud expansion and growth in edge applications [Relation] cause [Effect] spur enough demand for these higher-margin drives in the short term",
    "gold": "[Cause] cloud expansion and growth in edge applications [Relation] cause [Effect] spur enough demand for these higher-margin drives in the short term",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We think cloud expansion and growth in edge applications will spur enough demand for these higher-margin drives in the short term to offset declines in consumer-level HDDs as they get replaced by faster flash-based solid state drives, or SSDs.",
    "output": "[Cause] they get replaced by faster flash-based solid state drives, or SSDs [Relation] cause [Effect] offset declines in consumer-level HDDs",
    "gold": "[Cause] spur enough demand for these higher-margin drives in the short term [Relation] enable [Effect] offset declines in consumer-level HDDs",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We think cloud expansion and growth in edge applications will spur enough demand for these higher-margin drives in the short term to offset declines in consumer-level HDDs as they get replaced by faster flash-based solid state drives, or SSDs.",
    "output": "[Cause] they get replaced by faster flash-based solid state drives, or SSDs [Relation] cause [Effect] offset declines in consumer-level HDDs",
    "gold": "[Cause] they get replaced by faster flash-based solid state drives, or SSDs [Relation] enable [Effect] offset declines in consumer-level HDDs",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The outbreak of the novel coronavirus and subsequent lockdown will drive the bank's strategy in the near to medium term, reversing a previous mix shift toward individual lending and sending provisioning costs sharply higher.",
    "output": "[Cause] The outbreak of the novel coronavirus and subsequent lockdown [Relation] cause [Effect] drive the bank's strategy in the near to medium term, reversing a previous mix shift toward individual lending and sending provisioning costs sharply higher",
    "gold": "[Cause] The outbreak of the novel coronavirus and subsequent lockdown [Relation] cause [Effect] drive the bank's strategy in the near to medium term, reversing a previous mix shift toward individual lending and sending provisioning costs sharply higher",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "ADS' partnership base is weighted toward brick-and-mortar retailers that are under tremendous pressure from the shift toward online shopping. As a result of this pressure, many of ADS' partners have already gone bankrupt and it is uncertain how many will fully recover from the COVID-19 pandemic.",
    "output": "[Cause] ADS' partnership base is weighted toward brick-and-mortar retailers that are under tremendous pressure from the shift toward online shopping [Relation] cause [Effect] many of ADS' partners have already gone bankrupt and it is uncertain how many will fully recover from the COVID-19 pandemic",
    "gold": "[Cause] ADS' partnership base is weighted toward brick-and-mortar retailers that are under tremendous pressure from the shift toward online shopping [Relation] cause [Effect]  many of ADS' partners have already gone bankrupt and it is uncertain how many will fully recover from the COVID-19 pandemic",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The more critical the function and the more touch points across an organization a software vendor has, the higher the switching costs.",
    "output": "[Cause] The more critical the function and the more touch points across an organization a software vendor has [Relation] cause [Effect] the higher the switching costs",
    "gold": "[Cause] The more critical the function and the more touch points across an organization a software vendor has [Relation] cause [Effect] the higher the switching costs",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We believe the elimination of unprofitable SKUs and unproductive promotional spending, the mix shift to higher-margin products, and productivity cost savings will help boost consolidated gross margins to 28% over the long term, up from the 23% reported in fiscal 2020.",
    "output": "[Cause] the elimination of unprofitable SKUs and unproductive promotional spending, the mix shift to higher-margin products, and productivity cost savings [Relation] enable [Effect] boost consolidated gross margins to 28% over the long term, up from the 23% reported in fiscal 2020",
    "gold": "[Cause] the elimination of unprofitable SKUs and unproductive promotional spending, the mix shift to higher-margin products, and productivity cost savings [Relation] enable [Effect] boost consolidated gross margins to 28% over the long term, up from the 23% reported in fiscal 2020",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We expect recent trends in per capita consumption to continue in Asia-Pacific, leading to revenue growth between 4% and 5% and modestly improved margins beyond 2020.",
    "output": "[Cause] recent trends in per capita consumption to continue in Asia-Pacific [Relation] cause [Effect] revenue growth between 4% and 5% and modestly improved margins beyond 2020",
    "gold": "[Cause] recent trends in per capita consumption to continue in Asia-Pacific [Relation] cause [Effect]  revenue growth between 4% and 5% and modestly improved margins beyond 2020",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The firm's international operations also have a slightly higher barrier to entry than its domestic business, given the costs and expertise required to deal with the multitude of different regulatory environments, the foreign exchange risk, and the marketing of investment products to many different cultures around the globe.",
    "output": "[Cause] the costs and expertise required to deal with the multitude of different regulatory environments, the foreign exchange risk, and the marketing of investment products to many different cultures around the globe [Relation] cause [Effect] The firm's international operations also have a slightly higher barrier to entry than its domestic business",
    "gold": "[Cause]  the costs and expertise required to deal with the multitude of different regulatory environments, the foreign exchange risk, and the marketing of investment products to many different cultures around the globe [Relation] cause [Effect] The firm's international operations also have a slightly higher barrier to entry than its domestic business",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Furthermore, we think the power and scale of AT&amp;T and Verizon will likely keep Lumen from making major share gains, and technological advances that makes data transportation more efficient leave us questioning how much the total pie will grow.",
    "output": "[Cause] the power and scale of AT&amp;T and Verizon [Relation] prevent [Effect] making major share gains",
    "gold": "[Cause] technological advances [Relation] cause [Effect] questioning how much the total pie will grow",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Eni might be able to leverage its experience gained from offshore oil and gas developments to carve out a cost advantage in offshore wind, but that remains to be seen as it will likely remain a relatively small player that lacks the scale for a cost advantage.",
    "output": "[Cause] it will likely remain a relatively small player that lacks the scale for a cost advantage [Relation] cause [Effect] Eni might be able to leverage its experience gained from offshore oil and gas developments to carve out a cost advantage in offshore wind",
    "gold": "[Cause] Eni might be able to leverage its experience gained from offshore oil and gas developments [Relation] cause [Effect] carve out a cost advantage in offshore wind",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Eni might be able to leverage its experience gained from offshore oil and gas developments to carve out a cost advantage in offshore wind, but that remains to be seen as it will likely remain a relatively small player that lacks the scale for a cost advantage.",
    "output": "[Cause] it will likely remain a relatively small player that lacks the scale for a cost advantage [Relation] cause [Effect] Eni might be able to leverage its experience gained from offshore oil and gas developments to carve out a cost advantage in offshore wind",
    "gold": "[Cause] it will likely remain a relatively small player that lacks the scale for a cost advantage [Relation] cause [Effect]  that remains to be seen",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "The shift to BEVs is in the early stages today, but as adoption increases, we think add-on products like charging stations will help Paccar win a larger share of fleet owners' wallet share.",
    "output": "[Cause] add-on products like charging stations [Relation] enable [Effect] Paccar win a larger share of fleet owners' wallet share",
    "gold": "[Cause] adoption increases [Relation] cause [Effect] we think add-on products like charging stations will help Paccar win a larger share of fleet owners' wallet share",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Price/mix has deteriorated in several food, household, and personal-care categories in recent years, amid greater competition from the hard discounters' private-label lines and lower barriers to entry in the e-commerce channel.",
    "output": "[Cause] greater competition from the hard discounters' private-label lines and lower barriers to entry in the e-commerce channel [Relation] cause [Effect] Price/mix has deteriorated in several food, household, and personal-care categories in recent years",
    "gold": "[Cause] greater competition from the hard discounters' private-label lines and lower barriers to entry in the e-commerce channel [Relation] cause [Effect] Price/mix has deteriorated in several food, household, and personal-care categories in recent years",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In order to develop more advanced products and/or reach superior economies of scale, these smaller competitors occasionally establish joint ventures or purchase even smaller peers to gain the required technical knowledge or add capacity.",
    "output": "[Cause] develop more advanced products and/or reach superior economies of scale [Relation] cause [Effect] these smaller competitors occasionally establish joint ventures or purchase even smaller peers",
    "gold": "[Cause] develop more advanced products and/or reach superior economies of scale [Relation] cause [Effect] these smaller competitors occasionally establish joint ventures or purchase even smaller peers",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In order to develop more advanced products and/or reach superior economies of scale, these smaller competitors occasionally establish joint ventures or purchase even smaller peers to gain the required technical knowledge or add capacity.",
    "output": "[Cause] gain the required technical knowledge or add capacity [Relation] cause [Effect] these smaller competitors occasionally establish joint ventures or purchase even smaller peers",
    "gold": "[Cause] these smaller competitors occasionally establish joint ventures or purchase even smaller peers [Relation] enable [Effect] gain the required technical knowledge or add capacity",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "This is problematic because retail and commercial banking mostly does not scale well across borders, as typically a separate local balance sheet and significant investment in a local workforce are required.",
    "output": "[Cause] retail and commercial banking mostly does not scale well across borders [Relation] cause [Effect] This is problematic",
    "gold": "[Cause]  retail and commercial banking mostly does not scale well across borders [Relation] cause [Effect] This is problematic",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "This is problematic because retail and commercial banking mostly does not scale well across borders, as typically a separate local balance sheet and significant investment in a local workforce are required.",
    "output": "[Cause] retail and commercial banking mostly does not scale well across borders [Relation] cause [Effect] This is problematic",
    "gold": "[Cause] typically a separate local balance sheet and significant investment in a local workforce are required [Relation] cause [Effect] This is problematic",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Regulations limit the amount of each product that can be transported at one time, meaning that Balchem must deliver small batches with high frequency, a practice that management refers to as milk runs.",
    "output": "[Cause] Regulations limit the amount of each product that can be transported at one time [Relation] cause [Effect] Balchem must deliver small batches with high frequency",
    "gold": "[Cause] Regulations limit the amount of each product that can be transported at one time [Relation] cause [Effect] Balchem must deliver small batches with high frequency",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "That said, shipment activity and sell rates to shippers have rebounded dramatically off pandemic lows thanks to robust retailer restocking and better economic conditions, which have tightened TL capacity and lifted spot opportunities for truck brokers.",
    "output": "[Cause] robust retailer restocking and better economic conditions [Relation] cause [Effect] shipment activity and sell rates to shippers have rebounded dramatically off pandemic lows",
    "gold": "[Cause]  robust retailer restocking and better economic conditions [Relation] cause [Effect] shipment activity and sell rates to shippers have rebounded dramatically off pandemic lows",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "That said, shipment activity and sell rates to shippers have rebounded dramatically off pandemic lows thanks to robust retailer restocking and better economic conditions, which have tightened TL capacity and lifted spot opportunities for truck brokers.",
    "output": "[Cause] robust retailer restocking and better economic conditions [Relation] enable [Effect] shipment activity and sell rates to shippers have rebounded dramatically off pandemic lows",
    "gold": "[Cause]  robust retailer restocking and better economic conditions [Relation] cause [Effect] have tightened TL capacity and lifted spot opportunities for truck brokers",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We have long argued that customers look to product brands rather than the store marquee when making purchasing decisions; however, by emphasizing the treasure-hunt experience over a specific, steady roster of labels, Ross avoids this handicap.",
    "output": "[Cause] emphasizing the treasure-hunt experience over a specific, steady roster of labels [Relation] prevent [Effect] Ross avoids this handicap",
    "gold": "[Cause]  emphasizing the treasure-hunt experience over a specific, steady roster of labels [Relation] enable [Effect]  Ross avoids this handicap",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We think that Fluor's experience with complex megaprojects has created customer switching costs and intangible assets that helped the firm generate impressive ROICs, averaging roughly 25% from 2006 to 2015.",
    "output": "[Cause] Fluor's experience with complex megaprojects [Relation] cause [Effect] created customer switching costs and intangible assets",
    "gold": "[Cause] customer switching costs and intangible assets [Relation] enable [Effect]  helped the firm generate impressive ROICs",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We think that Fluor's experience with complex megaprojects has created customer switching costs and intangible assets that helped the firm generate impressive ROICs, averaging roughly 25% from 2006 to 2015.",
    "output": "[Cause] created customer switching costs and intangible assets [Relation] enable [Effect] helped the firm generate impressive ROICs, averaging roughly 25% from 2006 to 2015",
    "gold": "[Cause] Fluor's experience with complex megaprojects [Relation] enable [Effect] created customer switching costs and intangible assets",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "In exchange for its service territory monopoly, state and federal regulators set returns at levels that aim to minimize customer costs while offering fair returns for capital providers.",
    "output": "[Cause] state and federal regulators set returns at levels [Relation] enable [Effect] minimize customer costs while offering fair returns for capital providers",
    "gold": "[Cause] In exchange for its service territory monopoly [Relation] cause [Effect] state and federal regulators set returns at levels that aim to minimize customer costs while offering fair returns for capital providers",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Ormat's exposure to emerging markets where lower-heat geothermal resources are abundant supports cash flow growth and could provide significant upside to our growth projections.",
    "output": "[Cause] Ormat's exposure to emerging markets where lower-heat geothermal resources are abundant supports cash flow growth [Relation] enable [Effect] provide significant upside to our growth projections",
    "gold": "[Cause] Ormat's exposure to emerging markets where lower-heat geothermal resources are abundant [Relation] enable [Effect] cash flow growth | significant upside to our growth projections",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Since gas typically represents only a fraction of total costs, customers are often willing to pay a premium and enter into long-term contracts with reputable distributors to ensure uninterrupted supply.",
    "output": "[Cause] gas typically represents only a fraction of total costs [Relation] cause [Effect] customers are often willing to pay a premium and enter into long-term contracts with reputable distributors",
    "gold": "[Cause] gas typically represents only a fraction of total costs [Relation] cause [Effect] customers are often willing to pay a premium and enter into long-term contracts with reputable distributors",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Since gas typically represents only a fraction of total costs, customers are often willing to pay a premium and enter into long-term contracts with reputable distributors to ensure uninterrupted supply.",
    "output": "[Cause] customers are often willing to pay a premium and enter into long-term contracts with reputable distributors [Relation] enable [Effect] ensure uninterrupted supply",
    "gold": "[Cause] customers are often willing to pay a premium and enter into long-term contracts with reputable distributors [Relation] enable [Effect] ensure uninterrupted supply",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Chinese steel demand is the main source of uncertainty for iron ore prices as it's the world's largest consumer of iron ore, accounting for about 70% of traded iron ore demand.",
    "output": "[Cause] it's the world's largest consumer of iron ore, accounting for about 70% of traded iron ore demand [Relation] cause [Effect] Chinese steel demand is the main source of uncertainty for iron ore prices",
    "gold": "[Cause] it's the world's largest consumer of iron ore, accounting for about 70% of traded iron ore demand [Relation] enable [Effect] Chinese steel demand is the main source of uncertainty for iron ore prices",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Focused entry into the OTA market from Google, Facebook, Alibaba, Amazon, and others could double the current handful of players that have dominant scale, leading to a meaningful impact on profitability.",
    "output": "[Cause] Focused entry into the OTA market from Google, Facebook, Alibaba, Amazon, and others [Relation] cause [Effect] a meaningful impact on profitability",
    "gold": "[Cause] the current handful of players that have dominant scale [Relation] cause [Effect]  a meaningful impact on profitability",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Fiscal 2020 was a challenging year for the firm, as gaming revenue fell due to a cryptocurrency mining-related hangover and excess channel inventories, but we anticipate sales growth of over 50% in fiscal 2021, thanks to the Mellanox acquisition.",
    "output": "[Cause] a cryptocurrency mining-related hangover and excess channel inventories [Relation] cause [Effect] Fiscal 2020 was a challenging year for the firm",
    "gold": "[Cause] gaming revenue fell [Relation] cause [Effect] Fiscal 2020 was a challenging year for the firm",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Fiscal 2020 was a challenging year for the firm, as gaming revenue fell due to a cryptocurrency mining-related hangover and excess channel inventories, but we anticipate sales growth of over 50% in fiscal 2021, thanks to the Mellanox acquisition.",
    "output": "[Cause] the Mellanox acquisition [Relation] cause [Effect] sales growth of over 50% in fiscal 2021",
    "gold": "[Cause]  a cryptocurrency mining-related hangover and excess channel inventories [Relation] cause [Effect] gaming revenue fell",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Fiscal 2020 was a challenging year for the firm, as gaming revenue fell due to a cryptocurrency mining-related hangover and excess channel inventories, but we anticipate sales growth of over 50% in fiscal 2021, thanks to the Mellanox acquisition.",
    "output": "[Cause] the Mellanox acquisition [Relation] cause [Effect] sales growth of over 50% in fiscal 2021",
    "gold": "[Cause]  the Mellanox acquisition [Relation] enable [Effect]  sales growth of over 50% in fiscal 2021",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "While results will likely remain volatile, we expect Vivo will prosper as Brazilians continue to adopt wireless and fixed-line data services.",
    "output": "[Cause] Brazilians continue to adopt wireless and fixed-line data services [Relation] cause [Effect] Vivo will prosper",
    "gold": "[Cause] Brazilians continue to adopt wireless and fixed-line data services [Relation] enable [Effect] Vivo will prosper",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Given the sensitive nature of consumers' data, data getting into the wrong hands can lead to adverse consequences for the credit bureaus.",
    "output": "[Cause] the sensitive nature of consumers' data [Relation] cause [Effect] data getting into the wrong hands can lead to adverse consequences for the credit bureaus",
    "gold": "[Cause] data getting into the wrong hands [Relation] cause [Effect] adverse consequences for the credit bureaus",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We think Ulta will continue to gain share in prestige beauty as vendors and consumers view it as a destination for prestige products.",
    "output": "[Cause] vendors and consumers view it as a destination for prestige products [Relation] cause [Effect] Ulta will continue to gain share in prestige beauty",
    "gold": "[Cause] vendors and consumers view it as a destination for prestige products [Relation] cause [Effect] Ulta will continue to gain share in prestige beauty",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We also assume the Colombian wireless business struggles in 2022 as new entrant Wom ramps up efforts to win share.",
    "output": "[Cause] new entrant Wom ramps up efforts to win share [Relation] cause [Effect] the Colombian wireless business struggles in 2022",
    "gold": "[Cause] new entrant Wom ramps up efforts to win share [Relation] cause [Effect] the Colombian wireless business struggles in 2022",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "While low costs stemming from favorable geology and a good mine plan should remain fairly steady, low costs from byproduct metals rely on silver, zinc, and copper prices, exposing the company to additional volatility.",
    "output": "[Cause] low costs from byproduct metals rely on silver, zinc, and copper prices [Relation] cause [Effect] exposing the company to additional volatility",
    "gold": "[Cause] low costs from byproduct metals rely on silver, zinc, and copper prices [Relation] cause [Effect] exposing the company to additional volatility",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Second, once Twilio software is integrated, switching over to a new platform would give rise to business disruption and operational risk, potentially leading to a loss of customers.",
    "output": "[Cause] Twilio software is integrated [Relation] cause [Effect] switching over to a new platform would give rise to business disruption and operational risk, potentially leading to a loss of customers",
    "gold": "[Cause] Twilio software is integrated, switching over to a new platform would give rise to business disruption and operational risk [Relation] cause [Effect] potentially leading to a loss of customers.",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We think fee income develops a bank's cost advantage and switching costs because relative customer acquisition costs are decreased, and customers do not need to develop relationships with competing banks.",
    "output": "[Cause] relative customer acquisition costs are decreased, and customers do not need to develop relationships with competing banks [Relation] cause [Effect] fee income develops a bank's cost advantage and switching costs",
    "gold": "[Cause] relative customer acquisition costs are decreased, and customers do not need to develop relationships with competing banks [Relation] cause [Effect] fee income develops a bank's cost advantage and switching costs",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Mutable tastes, the proliferation of alternative distribution channels, and inherent demand variability due to unpredictable external factors (such as the weather), should leave room for off-price retailers to source products attractively, capitalizing on their vendor relationships and ability to offer favorable terms.",
    "output": "[Cause] unpredictable external factors (such as the weather) [Relation] cause [Effect] inherent demand variability",
    "gold": "[Cause] Mutable tastes, the proliferation of alternative distribution channels, and inherent demand variability due to unpredictable external factors (such as the weather) [Relation] cause [Effect]  leave room for off-price retailers to source products attractively, capitalizing on their vendor relationships and ability to offer favorable terms",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Dish will be smaller than Sprint was, but we assume it is able to constrain operating costs thanks to its new network and a focus on narrow geographies and market niches.",
    "output": "[Cause] its new network and a focus on narrow geographies and market niches [Relation] enable [Effect] constrain operating costs",
    "gold": "[Cause] its new network and a focus on narrow geographies and market niches [Relation] enable [Effect]  constrain operating costs",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Also, our unit growth forecast is supported by a favorable position with the growing next-generation traveler, driven by new brand launches.",
    "output": "[Cause] a favorable position with the growing next-generation traveler, driven by new brand launches [Relation] enable [Effect] our unit growth forecast",
    "gold": "[Cause] driven by new brand launches [Relation] enable [Effect]  the growing next-generation traveler",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Third, integration risk with acquisitions (which we don't see as a near-term risk given liquidity constraints) could disrupt management's focus and profits.",
    "output": "[Cause] integration risk with acquisitions [Relation] cause [Effect] disrupt management's focus and profits",
    "gold": "[Cause]  liquidity constraints) could disrupt management's focus and profits [Relation] cause [Effect] integration risk with acquisitions (which we don't see as a near-term risk",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "The operating leverage and cyclicality inherent in BHP, as a result of exposure to fluctuating commodity prices, are the key earnings drivers.",
    "output": "[Cause] exposure to fluctuating commodity prices [Relation] cause [Effect] The operating leverage and cyclicality inherent in BHP",
    "gold": "[Cause] exposure to fluctuating commodity prices [Relation] cause [Effect] The operating leverage and cyclicality inherent in BHP",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Switching to a variable-speed pump can cut electricity consumption by over 50%, and the savings can allow customers to recoup their up-front investment within the first two to three years of ownership.",
    "output": "[Cause] Switching to a variable-speed pump [Relation] enable [Effect] cut electricity consumption by over 50%",
    "gold": "[Cause] the savings [Relation] cause [Effect] allow customers to recoup their up-front investment within the first two to three years of ownership",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Further, the company has an increased opportunity to assist with the evolving reimbursement policies, but we do view risk in the ability to stem the loss of certain more commoditized services with the push for increased interoperability between all electronic medical records and uncertainty in future reimbursement trends.",
    "output": "[Cause] the push for increased interoperability between all electronic medical records and uncertainty in future reimbursement trends [Relation] cause [Effect] risk in the ability to stem the loss of certain more commoditized services",
    "gold": "[Cause] we do view risk in the ability to stem the loss of certain more commoditized services with the push for increased interoperability between all electronic medical records and uncertainty in future reimbursement trends [Relation] enable [Effect]  the company has an increased opportunity to assist with the evolving reimbursement policies",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Many of BHP's assets are located close to key Asian markets, particularly iron ore and metallurgical coal, which provides a modest freight cost advantage relative to peers.",
    "output": "[Cause] Many of BHP's assets are located close to key Asian markets, particularly iron ore and metallurgical coal [Relation] enable [Effect] provides a modest freight cost advantage relative to peers",
    "gold": "[Cause] Many of BHP's assets are located close to key Asian markets, particularly iron ore and metallurgical coal [Relation] cause [Effect]  provides a modest freight cost advantage relative to peers",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In our explicit five-year forecast, we expect Accenture interactive and intelligent platform services to propel Accenture's growth as the company shifts to increase its exposure to consulting sales, compared with more commoditized outsourcing sales.",
    "output": "[Cause] Accenture interactive and intelligent platform services [Relation] enable [Effect] Accenture's growth as the company shifts to increase its exposure to consulting sales, compared with more commoditized outsourcing sales",
    "gold": "[Cause]  the company shifts to increase its exposure to consulting sales, compared with more commoditized outsourcing sales [Relation] cause [Effect] we expect Accenture interactive and intelligent platform services to propel Accenture's growth",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "These strengths have helped Home Depot deliver adjusted average returns on invested capital, including goodwill, of 31% 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, including goodwill, of 31% during the past five years",
    "gold": "[Cause] operational excellence at its core namesake business [Relation] enable [Effect] Home Depot deliver adjusted average returns on invested capital, including goodwill, of 31% during the past five years",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In 2021, we model a 22% revenue lift and around operating margin expansion to 17% (as robust BBW throughput continues to provide leverage).",
    "output": "[Cause] robust BBW throughput continues to provide leverage [Relation] cause [Effect] we model a 22% revenue lift and around operating margin expansion to 17%",
    "gold": "[Cause] robust BBW throughput continues to provide leverage [Relation] cause [Effect] we model a 22% revenue lift and around operating margin expansion to 17%",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Most of Syneos' CRO business comes from the most lucrative area of the CRO market: long, complex trials that require hundreds if not thousands of patients across the globe and thus have ample room for missteps.",
    "output": "[Cause] the most lucrative area of the CRO market [Relation] cause [Effect] Most of Syneos' CRO business comes from the most lucrative area of the CRO market",
    "gold": "[Cause] Most of Syneos' CRO business comes from the most lucrative area of the CRO market: long, complex trials that require hundreds if not thousands of patients across the globe [Relation] cause [Effect] ample room for missteps",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Most of Syneos' CRO business comes from the most lucrative area of the CRO market: long, complex trials that require hundreds if not thousands of patients across the globe and thus have ample room for missteps.",
    "output": "[Cause] require hundreds if not thousands of patients across the globe [Relation] cause [Effect] have ample room for missteps",
    "gold": "[Cause] long, complex trials [Relation] cause [Effect] require hundreds if not thousands of patients across the globe",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Fee-for-service plans often provide less oversight and few incentives for the end users to control health-related expenditures, which can lead to higher spending per member than in managed-care plans.",
    "output": "[Cause] Fee-for-service plans often provide less oversight and few incentives for the end users to control health-related expenditures [Relation] cause [Effect] higher spending per member than in managed-care plans",
    "gold": "[Cause] Fee-for-service plans often provide less oversight and few incentives for the end users to control health-related expenditures [Relation] cause [Effect] higher spending per member than in managed-care plans",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Furthermore, the category is shrinking as a percentage of overall grocery spending, which we believe also serves to lower the importance of the category for retailers.",
    "output": "[Cause] the category is shrinking as a percentage of overall grocery spending [Relation] cause [Effect] lower the importance of the category for retailers",
    "gold": "[Cause] the category is shrinking as a percentage of overall grocery spending [Relation] cause [Effect] lower the importance of the category for retailers",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Volatility in raw material prices and weaker steel demand in South Korea, China, Japan, and the rest of Asia are the main risks to Posco, as around 90% of its revenue is derived from these regions.",
    "output": "[Cause] around 90% of its revenue is derived from these regions [Relation] cause [Effect] Volatility in raw material prices and weaker steel demand in South Korea, China, Japan, and the rest of Asia are the main risks to Posco",
    "gold": "[Cause] around 90% of its revenue is derived from these regions [Relation] cause [Effect] Volatility in raw material prices and weaker steel demand in South Korea, China, Japan, and the rest of Asia are the main risks to Posco",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Instead, the company will improve the quality of its assets and reposition them in their markets through continual redevelopment and also selectively invest in development projects.",
    "output": "[Cause] selectively invest in development projects [Relation] enable [Effect] improve the quality of its assets and reposition them in their markets",
    "gold": "[Cause] continual redevelopment [Relation] enable [Effect] reposition them in their markets",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Instead, the company will improve the quality of its assets and reposition them in their markets through continual redevelopment and also selectively invest in development projects.",
    "output": "[Cause] selectively invest in development projects [Relation] enable [Effect] improve the quality of its assets and reposition them in their markets",
    "gold": "[Cause] continual redevelopment [Relation] cause [Effect]  selectively invest in development projects",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "For fiscal 2021, we expect organic sales growth of 1.0%, as solid first-half growth from consumers' continued turn homeward is largely offset by second-half declines, given difficult comparisons with last year's pantry stocking.",
    "output": "[Cause] solid first-half growth from consumers' continued turn homeward is largely offset by second-half declines, given difficult comparisons with last year's pantry stocking [Relation] cause [Effect] organic sales growth of 1.0%",
    "gold": "[Cause] solid first-half growth from consumers' continued turn homeward is largely offset by second-half declines, given difficult comparisons with last year's pantry stocking [Relation] cause [Effect] organic sales growth of 1.0%",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Going forward, we believe the firm's drive to ramp 10-nm and 7-nm (likely in 2022) will pressure gross margins by a few hundred basis points.",
    "output": "[Cause] the firm's drive to ramp 10-nm and 7-nm (likely in 2022) [Relation] cause [Effect] pressure gross margins by a few hundred basis points",
    "gold": "[Cause]  the firm's drive to ramp 10-nm and 7-nm (likely in 2022) [Relation] cause [Effect] pressure gross margins by a few hundred basis points",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Fourth-quarter performance should be marred by renewed closures (about 470 locations, mostly in Europe, were closed as of Nov.",
    "output": "[Cause] renewed closures [Relation] prevent [Effect] Fourth-quarter performance",
    "gold": "[Cause] renewed closures [Relation] cause [Effect] marred",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Without a studio, we expect the firm will be squeezed by outside studios that will pass through increased production costs.",
    "output": "[Cause] Without a studio [Relation] cause [Effect] the firm will be squeezed by outside studios",
    "gold": "[Cause] Without a studio [Relation] enable [Effect] the firm will be squeezed by outside studios",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We expect it to survive the crisis and 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 (expected fiscal 2030 return of 17%) [Relation] cause [Effect] it to survive the crisis and eventually boost returns",
    "gold": "[Cause]  it optimizes its stores and assortment [Relation] enable [Effect] We expect it to survive the crisis and eventually boost returns",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "In our view, the vast creation of data plus the increased use of software-as-a-service applications and cloud-based ecosystems will continuously drive up the quantity and complexity of cyberthreats.",
    "output": "[Cause] the vast creation of data plus the increased use of software-as-a-service applications and cloud-based ecosystems [Relation] cause [Effect] drive up the quantity and complexity of cyberthreats",
    "gold": "[Cause]  the vast creation of data plus the increased use of software-as-a-service applications and cloud-based ecosystems [Relation] cause [Effect]  drive up the quantity and complexity of cyberthreats",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "New Jersey's historically constructive regulation allows NJR to support a high payout ratio and dividend growth in line with the utility's earnings growth.",
    "output": "[Cause] New Jersey's historically constructive regulation [Relation] enable [Effect] NJR to support a high payout ratio and dividend growth in line with the utility's earnings growth",
    "gold": "[Cause] New Jersey's historically constructive regulation [Relation] enable [Effect] NJR to support a high payout ratio and dividend growth in line with the utility's earnings growth",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "As electric vehicles age and prices fall, the economic motivations that drive motorists to attempt to repair their cars and trucks outside the more expensive dealer channel should emerge (though DIY fixes should become increasingly daunting, benefiting third-party repair facilities and necessitating O'Reilly's strong dual-market presence).",
    "output": "[Cause] electric vehicles age and prices fall [Relation] cause [Effect] the economic motivations that drive motorists to attempt to repair their cars and trucks outside the more expensive dealer channel should emerge",
    "gold": "[Cause] electric vehicles age and prices fall [Relation] enable [Effect] the economic motivations that drive motorists to attempt to repair their cars and trucks outside the more expensive dealer channel should emerge",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Additionally, Abbott has already begun efforts to improve productivity and efficiency, as it streamlines distribution channels and builds new facilities in lower-cost locations like China and India.",
    "output": "[Cause] it streamlines distribution channels and builds new facilities in lower-cost locations like China and India [Relation] cause [Effect] Abbott has already begun efforts to improve productivity and efficiency",
    "gold": "[Cause] it streamlines distribution channels and builds new facilities in lower-cost locations like China and India [Relation] enable [Effect] Abbott has already begun efforts to improve productivity and efficiency",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "And with its production (particuarly for consumer tissue) occuring in regions where water is a scarce resource, Kimberly may also be challenged by impediments to its production process over time.",
    "output": "[Cause] its production (particuarly for consumer tissue) occurring in regions where water is a scarce resource [Relation] cause [Effect] Kimberly may also be challenged by impediments to its production process over time",
    "gold": "[Cause] its production (particuarly for consumer tissue) occuring in regions where water is a scarce resource [Relation] cause [Effect] Kimberly may also be challenged by impediments to its production process over time",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "However, the price discrepancy between HDD and SSD tech has been narrowing quickly as flash technology advances, and we think SSDs now present an overall better value proposition for consumer devices than HDDs.",
    "output": "[Cause] flash technology advances [Relation] cause [Effect] the price discrepancy between HDD and SSD tech has been narrowing quickly",
    "gold": "[Cause] flash technology advances [Relation] enable [Effect] the price discrepancy between HDD and SSD tech has been narrowing quickly",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We forecast operating margins of 19% in 2021, an increase of 220 basis points, as a rebound in manufacturing and mining activity drive operating leverage, which is combined with the realization of cost savings implemented in 2020.",
    "output": "[Cause] a rebound in manufacturing and mining activity drive operating leverage [Relation] cause [Effect] operating margins of 19% in 2021, an increase of 220 basis points",
    "gold": "[Cause]  a rebound in manufacturing and mining activity drive operating leverage [Relation] enable [Effect]  operating margins of 19% in 2021, an increase of 220 basis points",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Further, because Boeing owns the intellectual property behind much of its aerostructures, the knowledge of how to make these products could theoretically be moved to a new supplier under.",
    "output": "[Cause] Boeing owns the intellectual property behind much of its aerostructures [Relation] cause [Effect] the knowledge of how to make these products could theoretically be moved to a new supplier under",
    "gold": "[Cause]  Boeing owns the intellectual property behind much of its aerostructures [Relation] cause [Effect] the knowledge of how to make these products could theoretically be moved to a new supplier under",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We forecast that it will recover to above the WACC level by 2023 after COVID-19 and as its higher-margin international businesses gain scale.",
    "output": "[Cause] its higher-margin international businesses gain scale [Relation] cause [Effect] it will recover to above the WACC level by 2023 after COVID-19",
    "gold": "[Cause] its higher-margin international businesses gain scale [Relation] enable [Effect]  it will recover to above the WACC level by 2023 after COVID-19",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Additionally, the firm's expertise with mRNA has readily lent itself to the development of vaccine candidates for COVID-19, garnering investor enthusiasm as the world awaits a viable vaccine.",
    "output": "[Cause] the world awaits a viable vaccine [Relation] cause [Effect] garnering investor enthusiasm",
    "gold": "[Cause] mRNA has readily lent itself [Relation] enable [Effect] the development of vaccine candidates for COVID-19",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Advance augments its relationships through its technician and shop owner training programs and technology solutions, which we believe deepen the firm's engagement with professional clients and strengthen its brand equity.",
    "output": "[Cause] Advance augments its relationships through its technician and shop owner training programs and technology solutions [Relation] enable [Effect] deepen the firm's engagement with professional clients and strengthen its brand equity",
    "gold": "[Cause] Advance augments its relationships through its technician and shop owner training programs and technology solutions [Relation] enable [Effect]  deepen the firm's engagement with professional clients and strengthen its brand equity",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The firm pioneered and continues to dominate an enclave of the coffee segment with superior pricing power, owing partly to the convenience that it affords as well as Keurig's brand equity.",
    "output": "[Cause] the convenience that it affords as well as Keurig's brand equity [Relation] cause [Effect] The firm pioneered and continues to dominate an enclave of the coffee segment with superior pricing power",
    "gold": "[Cause] the convenience that it affords as well as Keurig's brand equity [Relation] cause [Effect] The firm pioneered and continues to dominate an enclave of the coffee segment with superior pricing power",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The company's competitive position was bolstered several years ago with the discovery of significant oil and gas resources under a salt layer (presalt) in existing offshore concessions.",
    "output": "[Cause] the discovery of significant oil and gas resources under a salt layer (presalt) in existing offshore concessions [Relation] enable [Effect] The company's competitive position was bolstered several years ago",
    "gold": "[Cause]  the discovery of significant oil and gas resources under a salt layer (presalt) in existing offshore concessions [Relation] enable [Effect] The company's competitive position was bolstered several years ago",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We believe the firm may eventually seek to divest at least the residential portion of lighting as competitors like GE, Philips, Eaton, Cree, and others have done or are planning to do in the near future.",
    "output": "[Cause] competitors like GE, Philips, Eaton, Cree, and others have done or are planning to do in the near future [Relation] cause [Effect] the firm may eventually seek to divest at least the residential portion of lighting",
    "gold": "[Cause]  competitors like GE, Philips, Eaton, Cree, and others have done or are planning to do in the near future [Relation] cause [Effect] the firm may eventually seek to divest at least the residential portion of lighting",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Increased competitive pressures drove higher R&amp;D and marketing efforts as operating margin declined to 48% in 2018 versus 56% in 2012.",
    "output": "[Cause] Increased competitive pressures [Relation] cause [Effect] higher R&amp;D and marketing efforts as operating margin declined to 48% in 2018 versus 56% in 2012",
    "gold": "[Cause] operating margin declined to 48% in 2018 versus 56% in 2012 [Relation] cause [Effect] Increased competitive pressures drove higher R&amp;D and marketing efforts",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "This is due to very heavy investment spending and softer demand from sluggish global trade and soft industrial end markets (factors both firms have in common).",
    "output": "[Cause] very heavy investment spending and softer demand from sluggish global trade and soft industrial end markets [Relation] cause [Effect] This",
    "gold": "[Cause]  sluggish global trade and soft industrial end markets (factors both firms have in common) [Relation] cause [Effect] softer demand",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "With improved understanding of biomarkers and new diagnostic and genetic testing, inclusion criteria for trial participants continues to become more complex.",
    "output": "[Cause] improved understanding of biomarkers and new diagnostic and genetic testing [Relation] cause [Effect] inclusion criteria for trial participants continues to become more complex",
    "gold": "[Cause] improved understanding of biomarkers and new diagnostic and genetic testing [Relation] cause [Effect] inclusion criteria for trial participants continues to become more complex",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "As the firm plans to further invest in research and development and content creation, in addition to data security, we see the average operating margin during the next five years lower than the previous three years.",
    "output": "[Cause] the firm plans to further invest in research and development and content creation, in addition to data security [Relation] cause [Effect] the average operating margin during the next five years lower than the previous three years",
    "gold": "[Cause] As the firm plans to further invest in research and development and content creation [Relation] cause [Effect] in addition to data security, we see the average operating margin during the next five years lower than the previous three years",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Longer aging is perceived to beget superior quality, smoother taste, or the like, leading to higher marginal benefit derived from consumption in the eyes of the buyer, and consequently greater pricing power for the seller.",
    "output": "[Cause] Longer aging is perceived to beget superior quality, smoother taste, or the like [Relation] cause [Effect] higher marginal benefit derived from consumption in the eyes of the buyer, and consequently greater pricing power for the seller",
    "gold": "[Cause] Longer aging is perceived to beget superior quality, smoother taste, or the like [Relation] cause [Effect] higher marginal benefit derived from consumption in the eyes of the buyer, and consequently greater pricing power for the seller",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We believe vibration, noise, and safety concerns should propel sales of absorption and damping solutions as well as coupling components.",
    "output": "[Cause] vibration, noise, and safety concerns [Relation] cause [Effect] propel sales of absorption and damping solutions as well as coupling components",
    "gold": "[Cause] vibration, noise, and safety concerns [Relation] cause [Effect] propel sales of absorption and damping solutions as well as coupling components",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "As the company's commercial aerospace and defense businesses operate starkly different business models, we believe the best way to analyze the company is by end market.",
    "output": "[Cause] the company's commercial aerospace and defense businesses operate starkly different business models [Relation] cause [Effect] the best way to analyze the company is by end market",
    "gold": "[Cause] the company's commercial aerospace and defense businesses operate starkly different business models [Relation] cause [Effect] the best way to analyze the company is by end market",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Given slowing revenue growth and likely decreases in retention as small businesses go bankrupt, we do anticipate margins will contract modestly in fiscal 2021.",
    "output": "[Cause] slowing revenue growth and likely decreases in retention as small businesses go bankrupt [Relation] cause [Effect] margins will contract modestly in fiscal 2021",
    "gold": "[Cause] slowing revenue growth and likely decreases in retention as small businesses go bankrupt [Relation] enable [Effect]  margins will contract modestly in fiscal 2021",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Within our base scenario, we expect revenue to grow at a compound annual growth rate of 25% through fiscal 2026. This growth will be a result of increased usage of Splunk's products by existing customers, as well as an increase in new customers (we expect a 13% CAGR over the next five years).",
    "output": "[Cause] increased usage of Splunk's products by existing customers, as well as an increase in new customers [Relation] cause [Effect] revenue to grow at a compound annual growth rate of 25% through fiscal 2026",
    "gold": "[Cause] Within our base scenario, we expect revenue to grow at a compound annual growth rate of 25% through fiscal 2026 [Relation] cause [Effect] increased usage of Splunk's products by existing customers, as well as an increase in new customers (we expect a 13% CAGR over the next five years)",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "If proposed dual eligible legislation is ever passed, Novo will face mandatory price cuts on its high-margin products for these patients, as they make the transition from Medicare Part D to Medicaid.",
    "output": "[Cause] they make the transition from Medicare Part D to Medicaid [Relation] cause [Effect] If proposed dual eligible legislation is ever passed, Novo will face mandatory price cuts on its high-margin products for these patients",
    "gold": "[Cause] make the transition from Medicare Part D to Medicaid. [Relation] cause [Effect] mandatory price cuts on its high-margin products for these patients",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Overall, we project a five-year average annual revenue growth rate of 3%, largely driven by steady gains with consumer products and vaccines along with new product launches offsetting deteriorating pricing for the company's top drug Lantus.",
    "output": "[Cause] steady gains with consumer products and vaccines along with new product launches offsetting deteriorating pricing for the company's top drug Lantus [Relation] cause [Effect] a five-year average annual revenue growth rate of 3%",
    "gold": "[Cause] steady gains with consumer products and vaccines along with new product launches offsetting deteriorating pricing for the company's top drug Lantus [Relation] enable [Effect]  a five-year average annual revenue growth rate of 3%",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Similar to rigs, the frac spread market remains oversupplied, lending significant power to buyers, which we expect will present significant pricing pressure on pressure pumpers for the foreseeable future.",
    "output": "[Cause] the frac spread market remains oversupplied [Relation] cause [Effect] lending significant power to buyers",
    "gold": "[Cause] Similar to rigs, the frac spread market remains oversupplied, lending significant power to buyers [Relation] enable [Effect] we expect will present significant pricing pressure on pressure pumpers for the foreseeable future",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Celanese also faces the risk of lower demand for its products if its end markets experience a slowdown.",
    "output": "[Cause] its end markets experience a slowdown [Relation] cause [Effect] Celanese also faces the risk of lower demand for its products",
    "gold": "[Cause]  its end markets experience a slowdown [Relation] enable [Effect] Celanese also faces the risk of lower demand for its products",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "As patents expire and bugs develop resistance to current products, seeds with new traits and new chemical formulations must be developed.",
    "output": "[Cause] patents expire and bugs develop resistance to current products [Relation] cause [Effect] seeds with new traits and new chemical formulations must be developed",
    "gold": "[Cause] patents expire and bugs develop resistance to current products [Relation] cause [Effect] seeds with new traits and new chemical formulations must be developed",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Encouragingly, we don't believe its recent investments will burden the business with excess capacity over a longer horizon, as we think Clorox is building capacity to meet 75%-85% of its demand outlook over a three- to four-quarter time frame.",
    "output": "[Cause] Clorox is building capacity to meet 75%-85% of its demand outlook over a three- to four-quarter time frame [Relation] cause [Effect] we don't believe its recent investments will burden the business with excess capacity over a longer horizon",
    "gold": "[Cause]  its recent investments [Relation] prevent [Effect]  burden the business with excess capacity over a longer horizon",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Over the next few quarters, we expect increased demand, raw material inflation, and factors related to the coronavirus will likely result in higher costs, particularly related to safety, logistics, maintenance, and labor.",
    "output": "[Cause] increased demand, raw material inflation, and factors related to the coronavirus [Relation] cause [Effect] higher costs, particularly related to safety, logistics, maintenance, and labor",
    "gold": "[Cause]  increased demand, raw material inflation, and factors related to the coronavirus [Relation] cause [Effect] higher costs, particularly related to safety, logistics, maintenance, and labor",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "For this reason, having higher-quality proteins with greater bioactivity in combination with lot-to-lot consistency leads to repeat business, and has allowed Bio-Techne to maintain protein market share in the 30%-40% range, despite higher pricing.",
    "output": "[Cause] having higher-quality proteins with greater bioactivity in combination with lot-to-lot consistency [Relation] cause [Effect] repeat business",
    "gold": "[Cause]  having higher-quality proteins with greater bioactivity in combination with lot-to-lot consistency [Relation] cause [Effect] repeat business",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "For this reason, having higher-quality proteins with greater bioactivity in combination with lot-to-lot consistency leads to repeat business, and has allowed Bio-Techne to maintain protein market share in the 30%-40% range, despite higher pricing.",
    "output": "[Cause] having higher-quality proteins with greater bioactivity in combination with lot-to-lot consistency [Relation] cause [Effect] repeat business",
    "gold": "[Cause]  having higher-quality proteins with greater bioactivity in combination with lot-to-lot consistency [Relation] enable [Effect] allowed Bio-Techne to maintain protein market share in the 30%-40% range, despite higher pricing",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "After reviewing fourth-quarter results, we raise our fair value estimate to $184 per share from $181, about half of the increase due to the time value of money and half due to Honeywell smashing sales estimates during the quarter (which we think bodes well for an eventual recovery).",
    "output": "[Cause] Honeywell smashing sales estimates during the quarter [Relation] cause [Effect] we raise our fair value estimate to $184 per share from $181",
    "gold": "[Cause] Honeywell [Relation] cause [Effect] bodes well for an eventual recovery",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "These revenue streams also make it difficult for new competitors to enter the equity exchange market, since they will be forced to compete on price against ICE without these alternative revenue sources.",
    "output": "[Cause] they will be forced to compete on price against ICE without these alternative revenue sources [Relation] cause [Effect] These revenue streams also make it difficult for new competitors to enter the equity exchange market",
    "gold": "[Cause] they will be forced to compete on price against ICE without these alternative revenue sources [Relation] enable [Effect] These revenue streams also make it difficult for new competitors to enter the equity exchange market",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The CEPG tries to limit its list of suppliers to large multinational players with operations across TCCC's territories, making sure it can eke out as many concessions as possible from each vendor (though some specialized sweetener variants can only be purchased locally).",
    "output": "[Cause] The CEPG tries to limit its list of suppliers to large multinational players with operations across TCCC's territories [Relation] enable [Effect] it can eke out as many concessions as possible from each vendor",
    "gold": "[Cause] The CEPG tries to limit its list of suppliers to large multinational players with operations across TCCC's territories [Relation] enable [Effect]  it can eke out as many concessions as possible from each vendor",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In addition, federal regulators approve new transmission lines only if there is a demonstrated need for new capacity, protecting the incumbent's efficient scale advantage.",
    "output": "[Cause] federal regulators approve new transmission lines only if there is a demonstrated need for new capacity [Relation] enable [Effect] protecting the incumbent's efficient scale advantage",
    "gold": "[Cause] there is a demonstrated need for new capacity [Relation] enable [Effect] federal regulators approve new transmission lines",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "The stickiness of the equipment itself also generates recurring revenue on the service side, as customers are often reliant on Mettler to perform repair service and tend to be unwilling to risk service from an unproven third-party vendor.",
    "output": "[Cause] customers are often reliant on Mettler to perform repair service [Relation] cause [Effect] The stickiness of the equipment itself also generates recurring revenue on the service side",
    "gold": "[Cause] customers are often reliant on Mettler to perform repair service [Relation] cause [Effect] The stickiness of the equipment itself also generates recurring revenue on the service side",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Yet NXP's prospects are also bright within its industrial and 'Internet of Things' segment, thanks to its legacy strength in MCUs and embedded processors, along with its development of newer 'crossover' MCUs, which combine some of the benefits of each.",
    "output": "[Cause] its legacy strength in MCUs and embedded processors, along with its development of newer 'crossover' MCUs [Relation] cause [Effect] NXP's prospects are also bright within its industrial and 'Internet of Things' segment",
    "gold": "[Cause] its legacy strength in MCUs and embedded processors, along with its development of newer 'crossover' MCUs [Relation] cause [Effect] NXP's prospects are also bright within its industrial and 'Internet of Things' segment",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The smartphone facilitates the rise of additional private-label closed-loop payment networks, making it easier for consumers to use a retailer's preferred form of payment incentivized by rewards and sidestep the expensive discount rates of American Express and other providers.",
    "output": "[Cause] The smartphone facilitates the rise of additional private-label closed-loop payment networks [Relation] enable [Effect] easier for consumers to use a retailer's preferred form of payment incentivized by rewards",
    "gold": "[Cause] The smartphone [Relation] enable [Effect] the rise of additional private-label closed-loop payment networks",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Because lawncare and gardening are recreational activities, and the result (an attractive lawn) becomes a status symbol, many consumers are willing to pay a premium for a product they perceive to be more effective.",
    "output": "[Cause] lawncare and gardening are recreational activities, and the result (an attractive lawn) becomes a status symbol [Relation] cause [Effect] many consumers are willing to pay a premium for a product they perceive to be more effective",
    "gold": "[Cause] lawncare and gardening are recreational activities [Relation] cause [Effect] an attractive lawn | becomes a status symbol, many consumers are willing to pay a premium for a product they perceive to be more effective",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Similarly, if old corrugated container prices continue to fall, the relative cost position of manufacturers with a higher recycled mix would improve.",
    "output": "[Cause] old corrugated container prices continue to fall [Relation] cause [Effect] the relative cost position of manufacturers with a higher recycled mix would improve",
    "gold": "[Cause] old corrugated container prices continue to fall [Relation] cause [Effect] the relative cost position of manufacturers with a higher recycled mix would improve",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Since VeriSign has over 23 years of uninterrupted service and virtually its entire business hinges on adequate Internet infrastructure and security, we think the risk of a severe failure is low.",
    "output": "[Cause] VeriSign has over 23 years of uninterrupted service and virtually its entire business hinges on adequate Internet infrastructure and security [Relation] cause [Effect] the risk of a severe failure is low",
    "gold": "[Cause] VeriSign has over 23 years of uninterrupted service and virtually its entire business hinges on adequate Internet infrastructure and security [Relation] enable [Effect] the risk of a severe failure is low",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Thereafter, we expect flattish salt volumes as rising consumer and industrial demand offsets a long, slow decline in typical deicing salt demand due to the effects of climate change.",
    "output": "[Cause] rising consumer and industrial demand offsets a long, slow decline in typical deicing salt demand [Relation] cause [Effect] flattish salt volumes",
    "gold": "[Cause] rising consumer and industrial demand offsets a long, slow decline in typical deicing salt demand [Relation] cause [Effect] flattish salt volumes",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Thereafter, we expect flattish salt volumes as rising consumer and industrial demand offsets a long, slow decline in typical deicing salt demand due to the effects of climate change.",
    "output": "[Cause] rising consumer and industrial demand offsets a long, slow decline in typical deicing salt demand [Relation] cause [Effect] flattish salt volumes",
    "gold": "[Cause] the effects of climate change [Relation] cause [Effect] a long, slow decline in typical deicing salt demand",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We believe that CrowdStrike is a land-and-expand case, whereby elevated upfront costs to establish itself in the marketplace will provide significant operating margin leverage as its top-line year-over-year growth abates.",
    "output": "[Cause] its top-line year-over-year growth abates [Relation] cause [Effect] elevated upfront costs to establish itself in the marketplace will provide significant operating margin leverage",
    "gold": "[Cause]  elevated upfront costs to establish itself in the marketplace will provide significant operating margin leverage as its top-line year-over-year growth abates [Relation] cause [Effect] We believe that CrowdStrike is a land-and-expand case",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We rate Natwest's uncertainty as very high as a result of potential worse-than-expected EU withdrawal outcomes as well as a prolonged recovery from coronavirus-induced impacts to the economy.",
    "output": "[Cause] potential worse-than-expected EU withdrawal outcomes as well as a prolonged recovery from coronavirus-induced impacts to the economy [Relation] cause [Effect] We rate Natwest's uncertainty as very high",
    "gold": "[Cause] potential worse-than-expected EU withdrawal outcomes as well as a prolonged recovery from coronavirus-induced impacts to the economy [Relation] cause [Effect] We rate Natwest's uncertainty as very high",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Although its e-commerce is growing, Ulta is primarily a physical retailer and we anticipate a steep sales decline in 2020.",
    "output": "[Cause] Ulta is primarily a physical retailer [Relation] cause [Effect] a steep sales decline in 2020",
    "gold": "[Cause] Ulta is primarily a physical retailer [Relation] cause [Effect] a steep sales decline in 2020",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We forecast Nordstrom will reduce its capital expenditures to about $385 million in 2020, down from an elevated $935 million in 2019, to conserve cash.",
    "output": "[Cause] Nordstrom will reduce its capital expenditures to about $385 million in 2020, down from an elevated $935 million in 2019 [Relation] enable [Effect] conserve cash",
    "gold": "[Cause] conserve cash [Relation] cause [Effect] We forecast Nordstrom will reduce its capital expenditures to about $385 million in 2020, down from an elevated $935 million in 2019",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Dropbox has engaged in viral freemium marketing to attract free users to the platform before targeted marketing within the application attempt to upgrade users to paid membership.",
    "output": "[Cause] targeted marketing within the application attempt to upgrade users to paid membership [Relation] cause [Effect] Dropbox has engaged in viral freemium marketing",
    "gold": "[Cause] Dropbox has engaged in viral freemium marketing [Relation] enable [Effect] attract free users to the platform",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Dropbox has engaged in viral freemium marketing to attract free users to the platform before targeted marketing within the application attempt to upgrade users to paid membership.",
    "output": "[Cause] targeted marketing within the application attempt to upgrade users to paid membership [Relation] cause [Effect] attract free users to the platform",
    "gold": "[Cause] targeted marketing within the application attemp [Relation] enable [Effect] upgrade users to paid membership",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "To help elevate its brand perception, it has combined its online and in-store inventory management with its new \"\"\"\"omni-always\"\"\"\" initiative in the hopes of capturing more e-commerce business and avoiding the long restock times and uneven inventories that previously plagued the firm.",
    "output": "[Cause] it has combined its online and in-store inventory management with its new \"\"\"\"omni-always\"\"\"\" initiative [Relation] enable [Effect] help elevate its brand perception",
    "gold": "[Cause] it has combined its online and in-store inventory management with its new \"\"\"\"omni-always\"\"\"\" initiative [Relation] cause [Effect] help elevate its brand perception",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "To help elevate its brand perception, it has combined its online and in-store inventory management with its new \"\"\"\"omni-always\"\"\"\" initiative in the hopes of capturing more e-commerce business and avoiding the long restock times and uneven inventories that previously plagued the firm.",
    "output": "[Cause] it has combined its online and in-store inventory management with its new \"\"\"\"omni-always\"\"\" initiative [Relation] enable [Effect] capturing more e-commerce business and avoiding the long restock times and uneven inventories that previously plagued the firm",
    "gold": "[Cause] it has combined its online and in-store inventory management with its new \"\"\"\"omni-always\"\"\"\" initiative [Relation] cause [Effect] capturing more e-commerce business and avoiding the long restock times and uneven inventories that previously plagued the firm",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Considering the global nature of the largest consumer packaged goods, apparel, home d茅cor, and other product manufacturers, all of Walmart's units contribute to a meaningful cost advantage over its rivals as the firm is an essential point of distribution.",
    "output": "[Cause] the firm is an essential point of distribution [Relation] cause [Effect] all of Walmart's units contribute to a meaningful cost advantage over its rivals",
    "gold": "[Cause]  the firm is an essential point of distribution [Relation] cause [Effect] all of Walmart's units contribute to a meaningful cost advantage over its rivals",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "As workflow automation proliferated within the IT function, other areas of the enterprise became increasingly interested in process automation as well as a way to improve productivity and user experience.",
    "output": "[Cause] workflow automation proliferated within the IT function [Relation] cause [Effect] other areas of the enterprise became increasingly interested in process automation as well as a way to improve productivity and user experience",
    "gold": "[Cause] workflow automation proliferated within the IT function [Relation] enable [Effect] other areas of the enterprise became increasingly interested in process automation as well as a way to improve productivity and user experience",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The overarching assumption relating to reduced-risk products in our base-case valuation is that iQOS continues to increase its share of PMI's volume mix and that this is margin dilutive.",
    "output": "[Cause] iQOS continues to increase its share of PMI's volume mix [Relation] cause [Effect] margin dilutive",
    "gold": "[Cause]  iQOS continues to increase its share of PMI's volume mix [Relation] cause [Effect] margin dilutive",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Stuart Weitzman operates in the competitive category of women's shoes and has operational and design issues that may depress margins.",
    "output": "[Cause] Stuart Weitzman operates in the competitive category of women's shoes and has operational and design issues [Relation] cause [Effect] depress margins",
    "gold": "[Cause] Stuart Weitzman operates in the competitive category of women's shoes and has operational and design issues [Relation] cause [Effect] depress margins",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "As demand resumes longer term, we think pricing could grow at a low-single-digit clip (averaging around 3% between 2023-29) as willingness to socially gather resumes.",
    "output": "[Cause] willingness to socially gather resumes [Relation] cause [Effect] pricing could grow at a low-single-digit clip (averaging around 3% between 2023 and 29)",
    "gold": "[Cause] willingness to socially gather resumes [Relation] enable [Effect] pricing could grow at a low-single-digit clip (averaging around 3% between 2023-29)",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Local brands are also proving to be a more meaningful threat abroad, given these players possess a solid pulse of the preferences of in-market consumers.",
    "output": "[Cause] these players possess a solid pulse of the preferences of in-market consumers [Relation] cause [Effect] Local brands are also proving to be a more meaningful threat abroad",
    "gold": "[Cause] these players possess a solid pulse of the preferences of in-market consumers [Relation] cause [Effect] Local brands are also proving to be a more meaningful threat abroad",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We suspect that this will benefit Honeywell by allowing it to stay a step ahead of its competitors through enhanced visibility over its installed base.",
    "output": "[Cause] enhanced visibility over its installed base [Relation] enable [Effect] stay a step ahead of its competitors",
    "gold": "[Cause] allowing it to stay a step ahead of its competitors [Relation] cause [Effect] this will benefit Honeywell",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Unless the pandemic takes a sharp negative turn, the long-term secular tailwind appears to be reasserting itself and the worst seem to be past the industry.",
    "output": "[Cause] the pandemic takes a sharp negative turn [Relation] cause [Effect] the long-term secular tailwind appears to be reasserting itself and the worst seem to be past the industry",
    "gold": "[Cause]  the pandemic takes a sharp negative turn [Relation] prevent [Effect]  the long-term secular tailwind appears to be reasserting itself and the worst seem to be past the industry",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In line with demographic trends, most of the company's membership growth will probably come from its fully insured business, particularly the fast-growing Medicare Advantage business, which can have an amplified effect on revenue growth.",
    "output": "[Cause] its fully insured business [Relation] cause [Effect] most of the company's membership growth",
    "gold": "[Cause] the fast-growing Medicare Advantage business [Relation] cause [Effect] have an amplified effect on revenue growth",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We also count on Lumen to be able to use the sizable net operating loss carryforwards, or NOLs, it has, which should meaningfully enhance cash flow the next several years.",
    "output": "[Cause] Lumen to be able to use the sizable net operating loss carryforwards, or NOLs, it has [Relation] enable [Effect] meaningfully enhance cash flow the next several years",
    "gold": "[Cause] We also count on Lumen to be able to use the sizable net operating loss carryforwards, or NOLs [Relation] enable [Effect]  meaningfully enhance cash flow the next several years",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Through its integrated gas segment, Shell holds the largest LNG portfolio among peers with 70 mtpa in LNG sales volumes in 2020 including 33 mtpa of its own production.",
    "output": "[Cause] its integrated gas segment [Relation] enable [Effect] Shell holds the largest LNG portfolio among peers with 70 mtpa in LNG sales volumes in 2020 including 33 mtpa of its own production",
    "gold": "[Cause]  its integrated gas segment [Relation] cause [Effect] Shell holds the largest LNG portfolio among peers with 70 mtpa in LNG sales volumes in 2020 including 33 mtpa of its own production",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The closure of an anchor usually means less traffic for a mall and many in line tenants opting out of their leases, which further exacerbates the situation.",
    "output": "[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] further exacerbates the situation",
    "gold": "[Cause] The closure of an anchor | The closure of an anchor [Relation] cause [Effect]  less traffic for a mall and many in line tenants opting out of their leases",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We believe that Chipotle's ESG risk remains muted on the product side, due to the firm's commitment to ethical supply chain sourcing, and see labor relations as the firm's largest ESG concern going forward.",
    "output": "[Cause] the firm's commitment to ethical supply chain sourcing, and see labor relations as the firm's largest ESG concern going forward [Relation] cause [Effect] Chipotle's ESG risk remains muted on the product side",
    "gold": "[Cause]  Chipotle's ESG risk remains muted on the product side [Relation] cause [Effect] the firm's commitment to ethical supply chain sourcing, and see labor relations as the firm's largest ESG concern going forward",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "And MT's wealth of competitive advantages position it strongly in the transition toward electric vehicles on the original equipment side, even as the aftermarket will be a slow, but long-term headwind on the aftermarket side.",
    "output": "[Cause] MT's wealth of competitive advantages [Relation] enable [Effect] it strongly in the transition toward electric vehicles on the original equipment side",
    "gold": "[Cause] MT's wealth of competitive advantages [Relation] enable [Effect]  it strongly in the transition toward electric vehicles on the original equipment side",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Thereafter, we expect adjusted operating margin to rebound to over 14% as the firm's stranded cost headwinds related to the spin-off ease and its mix of service revenue increases.",
    "output": "[Cause] the firm's stranded cost headwinds related to the spin-off ease and its mix of service revenue increases [Relation] cause [Effect] adjusted operating margin to rebound to over 14%",
    "gold": "[Cause] the firm's stranded cost headwinds related to the spin-off ease and its mix of service revenue increases [Relation] enable [Effect] adjusted operating margin to rebound to over 14%",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "As a result, we believe that centralized purchasing allows the firm to take advantage of volume discounts on everything from Mastrena espresso machines to commoditized staples like milk, eggs, syrups, and pastry items, which are subsequently distributed across the company-operated and licensed footprint.",
    "output": "[Cause] centralized purchasing [Relation] enable [Effect] the firm to take advantage of volume discounts on everything from Mastrena espresso machines to commoditized staples like milk, eggs, syrups, and pastry items, which are subsequently distributed across the company-operated and licensed footprint",
    "gold": "[Cause] we believe that centralized purchasing allows the firm to take advantage of volume discounts on everything from Mastrena espresso machines to commoditized staples like milk, eggs, syrups, and pastry items [Relation] enable [Effect] are subsequently distributed across the company-operated and licensed footprint.",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We still think Honeywell has enough runway to drive down fixed costs and improve segment (non-GAAP) operating margins by about 300 basis points from 2020 to 2023, particularly as its portfolio's mix moves toward increased software offerings.",
    "output": "[Cause] its portfolio's mix moves toward increased software offerings [Relation] cause [Effect] We still think Honeywell has enough runway to drive down fixed costs and improve segment (non-GAAP) operating margins by about 300 basis points from 2020 to 2023",
    "gold": "[Cause] enough runway [Relation] prevent [Effect]  fixed costs",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "A 5% decrease in mortality rates would lead to a 13-percentage-point decrease in Aviva's Solvency II ratio because of the longer term of payouts in Aviva's annuity business.",
    "output": "[Cause] the longer term of payouts in Aviva's annuity business [Relation] cause [Effect] A 5% decrease in mortality rates would lead to a 13-percentage-point decrease in Aviva's Solvency II ratio",
    "gold": "[Cause] A 5% decrease in mortality rates [Relation] enable [Effect] a 13-percentage-point decrease in Aviva's Solvency II ratio",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Over 10% of its asset base will earn guaranteed 12.7% returns on equity for the next 30 years through its Power the Future investments, which is helping to reduce regulatory risk.",
    "output": "[Cause] Over 10% of its asset base will earn guaranteed 12.7% returns on equity for the next 30 years through its Power the Future investments [Relation] enable [Effect] reduce regulatory risk",
    "gold": "[Cause] Over 10% of its asset base will earn guaranteed 12.7% returns on equity for the next 30 years through its Power the Future investments [Relation] enable [Effect] reduce regulatory risk",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "More trading volume generally leads to better liquidity, which allows buyers and sellers to enter and exit their positions with less impact on the price of the asset, reducing implicit trading costs.",
    "output": "[Cause] More trading volume [Relation] cause [Effect] better liquidity",
    "gold": "[Cause] More trading volume [Relation] cause [Effect] better liquidity",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "More trading volume generally leads to better liquidity, which allows buyers and sellers to enter and exit their positions with less impact on the price of the asset, reducing implicit trading costs.",
    "output": "[Cause] buyers and sellers to enter and exit their positions with less impact on the price of the asset [Relation] enable [Effect] reducing implicit trading costs",
    "gold": "[Cause] better liquidity [Relation] cause [Effect] allows buyers and sellers to enter and exit their positions with less impact on the price of the asset",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "The lack of a strong SSD portfolio--weaker than competitor Western Digital's--has meant Seagate must make further inroads into enterprise products to offset declines in the PC market.",
    "output": "[Cause] The lack of a strong SSD portfolio--weaker than competitor Western Digital's [Relation] cause [Effect] Seagate must make further inroads into enterprise products to offset declines in the PC market",
    "gold": "[Cause] The lack of a strong SSD portfolio--weaker than competitor Western Digital's [Relation] cause [Effect]  Seagate must make further inroads into enterprise products to offset declines in the PC market",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Despite the lower-quality business mix, we expect returns on invested capital to remain well ahead of Magellan's cost of capital because of the minimal reinvestment needs of the refined product business.",
    "output": "[Cause] the minimal reinvestment needs of the refined product business [Relation] cause [Effect] returns on invested capital to remain well ahead of Magellan's cost of capital",
    "gold": "[Cause] the minimal reinvestment needs of the refined product business [Relation] cause [Effect] returns on invested capital to remain well ahead of Magellan's cost of capital",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Danone has been forced to adapt its products (primarily by fortifying Actimel and Activia with vitamins in some markets) and its marketing (by removing health claims) in response to the European Union's prohibition on marketing probiotics' alleged health benefits in 2007.",
    "output": "[Cause] the European Union's prohibition on marketing probiotics' alleged health benefits in 2007 [Relation] cause [Effect] Danone has been forced to adapt its products (primarily by fortifying Actimel and Activia with vitamins in some markets) and its marketing (by removing health claims)",
    "gold": "[Cause] Danone has been forced to adapt its products (primarily by fortifying Actimel and Activia with vitamins in some markets) and its marketing [Relation] cause [Effect] the European Union's prohibition on marketing probiotics' alleged health benefits in 2007",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "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. As such, Hanes' operating margins in innerwear are typically in the low-20s, which is higher than the operating margins of some higher-priced branded apparel.",
    "output": "[Cause] 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 [Relation] cause [Effect] Hanes' operating margins in innerwear are typically in the low-20s, which is higher than the operating margins of some higher-priced branded apparel",
    "gold": "[Cause] 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 [Relation] cause [Effect] Hanes' operating margins in innerwear are typically in the low-20s, which is higher than the operating margins of some higher-priced branded apparel",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Hexcel also needs to constantly have excess capacity relative to Boeing and Airbus production rates to protect its sole-source producer status.",
    "output": "[Cause] Hexcel also needs to constantly have excess capacity relative to Boeing and Airbus production rates [Relation] enable [Effect] protect its sole-source producer status",
    "gold": "[Cause] Hexcel also needs to constantly have excess capacity relative to Boeing and Airbus production rates [Relation] enable [Effect]  protect its sole-source producer status",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In the long term, we assume a return to midcycle margins, specifically in the midcontinent, as a result of planned pipeline capacity.",
    "output": "[Cause] planned pipeline capacity [Relation] cause [Effect] a return to midcycle margins, specifically in the midcontinent",
    "gold": "[Cause] planned pipeline capacity [Relation] enable [Effect] a return to midcycle margins, specifically in the midcontinent",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "As a result, Imperial's efforts have been focused on solvent-based technology, which we expect to significantly improve the economics associated with the company's Aspen and Grand Rapids oil sands projects.",
    "output": "[Cause] Imperial's efforts have been focused on solvent-based technology [Relation] cause [Effect] significantly improve the economics associated with the company's Aspen and Grand Rapids oil sands projects",
    "gold": "[Cause] Imperial's efforts have been focused on solvent-based technology [Relation] cause [Effect] significantly improve the economics associated with the company's Aspen and Grand Rapids oil sands projects",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Part failure is tied to usage and age, and replacements for failed components provided 49% of AutoZone's fiscal 2020 revenue.",
    "output": "[Cause] Part failure is tied to usage and age [Relation] cause [Effect] replacements for failed components provided 49% of AutoZone's fiscal 2020 revenue",
    "gold": "[Cause] usage and age [Relation] cause [Effect] Part failure",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "In October 2020, we increased our uncertainty rating for Illumina to very high from high, primarily because of the pending acquisition of Grail that substantially widened the potential valuation scenarios for Illumina.",
    "output": "[Cause] the pending acquisition of Grail [Relation] cause [Effect] substantially widened the potential valuation scenarios for Illumina",
    "gold": "[Cause] the pending acquisition of Grail [Relation] cause [Effect] we increased our uncertainty rating for Illumina to very high from high",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "In October 2020, we increased our uncertainty rating for Illumina to very high from high, primarily because of the pending acquisition of Grail that substantially widened the potential valuation scenarios for Illumina.",
    "output": "[Cause] the pending acquisition of Grail [Relation] cause [Effect] substantially widened the potential valuation scenarios for Illumina",
    "gold": "[Cause] we increased our uncertainty rating for Illumina to very high from high [Relation] enable [Effect] widened the potential valuation scenarios for Illumina",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We believe, though, that Ralph Lauren has cleaned up the inventory of Polo shirts enough that their prices have firmed in both full- and off-price channels.",
    "output": "[Cause] Ralph Lauren has cleaned up the inventory of Polo shirts [Relation] cause [Effect] their prices have firmed in both full- and off-price channels",
    "gold": "[Cause] Lauren has cleaned up the inventory of Polo shirts enough [Relation] enable [Effect] their prices have firmed in both full- and off-price channels",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "While breadth in product and services can be advantageous with regard to cross-selling--commercial activities that bolster content per vehicle and market penetration--we see only limited evidence that Magna's diversified strategy has benefited investors in the form of higher margins and returns on invested capital.",
    "output": "[Cause] breadth in product and services can be advantageous with regard to cross-selling--commercial activities that bolster content per vehicle and market penetration [Relation] cause [Effect] Magna's diversified strategy has benefited investors in the form of higher margins and returns on invested capital",
    "gold": "[Cause] breadth in product and services can be advantageous with regard to cross-selling--commercial activities [Relation] cause [Effect] bolster content per vehicle and market penetration",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Indeed, there has been consistent market speculation that the Government could merge the smallest two firms, China Telecom and China Unicom, in order to reduce the entire industry spend on 5G network rollout.",
    "output": "[Cause] the Government could merge the smallest two firms, China Telecom and China Unicom [Relation] enable [Effect] reduce the entire industry spend on 5G network rollout",
    "gold": "[Cause] the Government could merge the smallest two firms, China Telecom and China Unicom [Relation] cause [Effect] reduce the entire industry spend on 5G network rollout",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Pre-pandemic traffic trends reinforce the strategy's recent success, with transaction count growth driving overall like-for-like sales (2.6% comparable transaction growth against 3.9% same-store sales growth, on average, since fiscal 2012).",
    "output": "[Cause] transaction count growth driving overall like-for-like sales [Relation] cause [Effect] Pre-pandemic traffic trends reinforce the strategy's recent success",
    "gold": "[Cause] Pre-pandemic traffic trends reinforce the strategy's recent success [Relation] enable [Effect] with transaction count growth driving overall like-for-like sales",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Grubhub has developed a sustainable network effect by pairing consumers with restaurants, but the market is now crowded with many other players.",
    "output": "[Cause] pairing consumers with restaurants [Relation] enable [Effect] Grubhub has developed a sustainable network effect",
    "gold": "[Cause]  pairing consumers with restaurants [Relation] enable [Effect] Grubhub has developed a sustainable network effect",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The COVID-19 pandemic has posed challenges that affects healthcare systems and clinical trial work; however, we believe Icon adapted well and seems to have rebounded from client disruptions, reporting strong new business wins.",
    "output": "[Cause] The COVID-19 pandemic has posed challenges that affects healthcare systems and clinical trial work [Relation] cause [Effect] Icon adapted well and seems to have rebounded from client disruptions, reporting strong new business wins",
    "gold": "[Cause] The COVID-19 pandemic [Relation] cause [Effect]  challenges that affects healthcare systems and clinical trial work",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "VF does not have a history of developing its own brands, so its ability to find deals is a risk.",
    "output": "[Cause] VF does not have a history of developing its own brands [Relation] cause [Effect] its ability to find deals is a risk",
    "gold": "[Cause] VF does not have a history of developing its own brands [Relation] cause [Effect] its ability to find deals is a risk",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We believe the most significant risk Conagra faces is evolving consumer nutritional preferences, namely the trend away from processed fare toward fresh, natural selections.",
    "output": "[Cause] evolving consumer nutritional preferences [Relation] cause [Effect] the most significant risk Conagra faces",
    "gold": "[Cause] evolving consumer nutritional preferences [Relation] cause [Effect] the most significant risk Conagra faces",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "As competitors invest more in machine learning, analytics, and automated response technology, the need for FireEye services could be affected if less human interaction is required to control threat defense and response.",
    "output": "[Cause] competitors invest more in machine learning, analytics, and automated response technology [Relation] cause [Effect] the need for FireEye services could be affected",
    "gold": "[Cause] competitors invest more in machine learning, analytics, and automated response technology [Relation] cause [Effect] the need for FireEye services could be affected",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "As competitors invest more in machine learning, analytics, and automated response technology, the need for FireEye services could be affected if less human interaction is required to control threat defense and response.",
    "output": "[Cause] less human interaction is required to control threat defense and response [Relation] cause [Effect] the need for FireEye services could be affected",
    "gold": "[Cause] less human interaction is required to control threat defense and response [Relation] cause [Effect] the need for FireEye services could be affected",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The continued pressure on drug pricing pose a risk to the company and include deflation in generic drug prices, increased generic mix, slower growth in the pharmacy pipeline, lower spending on hepatitis C and opioids.",
    "output": "[Cause] The continued pressure on drug pricing [Relation] cause [Effect] a risk to the company",
    "gold": "[Cause] The continued pressure on drug pricing [Relation] cause [Effect] a risk to the company",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Barriers to entry are very low for hotels in major metropolitan areas as cities encourage economic development that revitalizes an area and brings tourism dollars and taxable income.",
    "output": "[Cause] cities encourage economic development that revitalizes an area and brings tourism dollars and taxable income [Relation] cause [Effect] Barriers to entry are very low for hotels in major metropolitan areas",
    "gold": "[Cause]  cities encourage economic development that revitalizes an area and brings tourism dollars and taxable income [Relation] cause [Effect] Barriers to entry are very low for hotels in major metropolitan areas",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Nevertheless, we think Cushman & Wakefield is poised to experience long-term growth as it continues to benefit from a buoyant real estate services industry and takes share from smaller, more fragmented competitors.",
    "output": "[Cause] it continues to benefit from a buoyant real estate services industry and takes share from smaller, more fragmented competitors [Relation] cause [Effect] Cushman & Wakefield is poised to experience long-term growth",
    "gold": "[Cause]  it continues to benefit from a buoyant real estate services industry and takes share from smaller, more fragmented competitors [Relation] cause [Effect]  Cushman & Wakefield is poised to experience long-term growth",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "With more paid and unpaid users, we believe Match Group could attract more ad dollars, given the growing number of young and millennial users, which is why we model 14% average annual growth in indirect revenue after the pandemic through 2024.",
    "output": "[Cause] Match Group could attract more ad dollars [Relation] cause [Effect] we model 14% average annual growth in indirect revenue after the pandemic through 2024",
    "gold": "[Cause] the growing number of young and millennial users [Relation] cause [Effect]  we model 14% average annual growth in indirect revenue after the pandemic through 2024",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Still, as the firm continues to suffer negative effects on its sales and earnings from COVID-19 (after a sales decline of 17% in 2020), we do not expect Ulta to return to 2019's sales and operating margin until 2022.",
    "output": "[Cause] the firm continues to suffer negative effects on its sales and earnings from COVID-19 (after a sales decline of 17% in 2020) [Relation] cause [Effect] we do not expect Ulta to return to 2019's sales and operating margin until 2022",
    "gold": "[Cause] the firm continues to suffer negative effects on its sales and earnings from COVID-19 (after a sales decline of 17% in 2020) [Relation] cause [Effect] we do not expect Ulta to return to 2019's sales and operating margin until 2022",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We do think bipartisan support for improved infrastructure should help bring improved funding down the road and reduces long-term uncertainty.",
    "output": "[Cause] bipartisan support for improved infrastructure [Relation] enable [Effect] bring improved funding down the road and reduces long-term uncertainty",
    "gold": "[Cause] bipartisan support for improved infrastructure [Relation] enable [Effect] bring improved funding down the road and reduces long-term uncertainty",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We also project elevated noninterest income growth of 4%-5% over the medium term as the bank's Houston expansion bears some fruit. This leads us to expect a terminal return on tangible equity of 13% for our forecast period, compared with the cost of equity of 9%.",
    "output": "[Cause] elevated noninterest income growth of 4%-5% over the medium term as the bank's Houston expansion bears some fruit [Relation] cause [Effect] a terminal return on tangible equity of 13% for our forecast period, compared with the cost of equity of 9%",
    "gold": "[Cause]  elevated noninterest income growth of 4%-5% over the medium term as the bank's Houston expansion bears some fruit [Relation] cause [Effect] a terminal return on tangible equity of 13% for our forecast period, compared with the cost of equity of 9%",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We expect content investments will pressure margins over the next several years, though, challenging Comcast's ability to meet its goal of doubling Sky EBITDA.",
    "output": "[Cause] content investments [Relation] cause [Effect] pressure margins over the next several years",
    "gold": "[Cause] content investments will pressure margins over the next several years [Relation] cause [Effect] challenging Comcast's ability to meet its goal of doubling Sky EBITDA",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Operating margins have been under pressure with the deceleration of pharmaceutical drug growth due to slower branded drug inflation, shifting mix favoring generic drugs with lower price points, slower introduction of blockbuster drugs, and increasing consolidation and negotiating leverage of its customers, including retail pharmacies and providers.",
    "output": "[Cause] slower branded drug inflation, shifting mix favoring generic drugs with lower price points, slower introduction of blockbuster drugs, and increasing consolidation and negotiating leverage of its customers, including retail pharmacies and providers [Relation] cause [Effect] Operating margins have been under pressure with the deceleration of pharmaceutical drug growth",
    "gold": "[Cause] the deceleration of pharmaceutical drug growth [Relation] enable [Effect] Operating margins have been under pressure",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Based on the average volatility of cash flows from LabCorp's underlying diagnostics business, we rate the firm's uncertainty as medium.",
    "output": "[Cause] the average volatility of cash flows from LabCorp's underlying diagnostics business [Relation] cause [Effect] we rate the firm's uncertainty as medium",
    "gold": "[Cause] the average volatility of cash flows from LabCorp's underlying diagnostics business [Relation] cause [Effect] we rate the firm's uncertainty as medium",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "With little direct competition in patch pumps, Insulet has been able to convert more users to its innovative, tubeless insulin pump.",
    "output": "[Cause] little direct competition in patch pumps [Relation] enable [Effect] Insulet has been able to convert more users to its innovative, tubeless insulin pump",
    "gold": "[Cause]  little direct competition in patch pumps [Relation] cause [Effect] Insulet has been able to convert more users to its innovative, tubeless insulin pump",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We believe Hain does not benefit from a cost advantage, as its large number of brands, categories, and channels has not produced a scale advantage.",
    "output": "[Cause] its large number of brands, categories, and channels has not produced a scale advantage [Relation] cause [Effect] Hain does not benefit from a cost advantage",
    "gold": "[Cause] its large number of brands, categories, and channels has not produced a scale advantage [Relation] cause [Effect]  Hain does not benefit from a cost advantage",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Droughts are typically not a problem, as potatoes are irrigated, but excessive rainfall, extreme temperatures, or disease can stunt potato growth and lead to deformities such as cracks or discoloration/greening.",
    "output": "[Cause] excessive rainfall, extreme temperatures, or disease [Relation] cause [Effect] stunt potato growth and lead to deformities such as cracks or discoloration/greening",
    "gold": "[Cause] excessive rainfall, extreme temperatures, or disease [Relation] cause [Effect] stunt potato growth and lead to deformities such as cracks or discoloration/greening",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "As CrowdStrike matures, the company may fail to reach intended margin targets by not prudently reducing expenditures as a sales percentage.",
    "output": "[Cause] CrowdStrike matures [Relation] cause [Effect] the company may fail to reach intended margin targets by not prudently reducing expenditures as a sales percentage",
    "gold": "[Cause]  CrowdStrike matures [Relation] cause [Effect]  the company may fail to reach intended margin targets by not prudently reducing expenditures as a sales percentage",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "It also comes with the possible risk of a new supplier providing a faulty product, which is especially risky proposition when potentially replacing an NXP product due to its safety-focused portfolio. Thus, once a company's product has been designed in, it is likely to remain in for the duration of the design life cycle.",
    "output": "[Cause] It also comes with the possible risk of a new supplier providing a faulty product, which is especially risky proposition when potentially replacing an NXP product due to its safety-focused portfolio [Relation] cause [Effect] once a company's product has been designed in, it is likely to remain in for the duration of the design life cycle",
    "gold": "[Cause] It also comes with the possible risk of a new supplier providing a faulty product, which is especially risky proposition when potentially replacing an NXP product due to its safety-focused portfolio [Relation] cause [Effect]  once a company's product has been designed in, it is likely to remain in for the duration of the design life cycle",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Unfavorable weather could place upward pressure on input prices for products such as dairy, coffee beans, meat, wheat, soybean, and sugar.",
    "output": "[Cause] Unfavorable weather [Relation] cause [Effect] upward pressure on input prices for products such as dairy, coffee beans, meat, wheat, soybean, and sugar",
    "gold": "[Cause] Unfavorable weather [Relation] cause [Effect] upward pressure on input prices for products such as dairy, coffee beans, meat, wheat, soybean, and sugar",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "However, over time, improved gross margin results from strong private-label penetration and better operating expense leverage from scale gains could lead to operating margins that rise marginally every year, leading to 10% long-term metrics, in line with the 10% captured in 2020.",
    "output": "[Cause] scale gains [Relation] cause [Effect] operating margins that rise marginally every year, leading to 10% long-term metrics",
    "gold": "[Cause]  scale gains [Relation] enable [Effect]  better operating expense leverage",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "However, over time, improved gross margin results from strong private-label penetration and better operating expense leverage from scale gains could lead to operating margins that rise marginally every year, leading to 10% long-term metrics, in line with the 10% captured in 2020.",
    "output": "[Cause] scale gains [Relation] cause [Effect] operating margins that rise marginally every year",
    "gold": "[Cause] improved gross margin [Relation] cause [Effect] operating margins that rise marginally every year",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "The company's exchange revenue is based on the volume of trading that occurs on its exchange, which in turn is heavily influenced by the amount of trading that is occurring across the entire market.",
    "output": "[Cause] the volume of trading that occurs on its exchange [Relation] cause [Effect] The company's exchange revenue",
    "gold": "[Cause] the volume of trading that occurs on its exchange [Relation] enable [Effect] The company's exchange revenue",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The company's exchange revenue is based on the volume of trading that occurs on its exchange, which in turn is heavily influenced by the amount of trading that is occurring across the entire market.",
    "output": "[Cause] the amount of trading that is occurring across the entire market [Relation] cause [Effect] The company's exchange revenue",
    "gold": "[Cause] the amount of trading that is occurring across the entire market [Relation] enable [Effect] The company's exchange revenue",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "With no on-premises controllers necessary, the Falcon platform dynamically scales based on endpoint demand and gives CrowdStrike a wider customer audience without requiring particular products per client size.",
    "output": "[Cause] no on-premises controllers necessary [Relation] cause [Effect] the Falcon platform dynamically scales based on endpoint demand and gives CrowdStrike a wider customer audience without requiring particular products per client size",
    "gold": "[Cause]  no on-premises controllers necessary [Relation] cause [Effect]  the Falcon platform dynamically scales based on endpoint demand and gives CrowdStrike a wider customer audience without requiring particular products per client size",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We believe sales will continue to moderate over the remainder of 2021, with parents already settled in the work-from-home routine and children comfortable in their remote learning workspaces.",
    "output": "[Cause] parents already settled in the work-from-home routine and children comfortable in their remote learning workspaces [Relation] cause [Effect] sales will continue to moderate over the remainder of 2021",
    "gold": "[Cause] parents already settled in the work-from-home routine and children comfortable in their remote learning workspaces [Relation] cause [Effect] sales will continue to moderate over the remainder of 2021",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "However, Windstream already filed for bankruptcy and its lease with Uniti has already been litigated, so further risk stemming from the same issue should be less likely.",
    "output": "[Cause] Windstream already filed for bankruptcy and its lease with Uniti has already been litigated [Relation] cause [Effect] further risk stemming from the same issue should be less likely",
    "gold": "[Cause] Windstream already filed for bankruptcy and its lease with Uniti has already been litigated [Relation] cause [Effect] further risk stemming from the same issue should be less likely",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We expect the parts segment to increase sales by a compound annual rate of roughly 5% in our forecast, largely due to our assumption that some MX engines designed in response to the 2010 EPA standards have entered the overhaul stage of their lifecycle.",
    "output": "[Cause] our assumption that some MX engines designed in response to the 2010 EPA standards have entered the overhaul stage of their lifecycle [Relation] cause [Effect] the parts segment to increase sales by a compound annual rate of roughly 5% in our forecast",
    "gold": "[Cause] our assumption [Relation] cause [Effect] We expect the parts segment to increase sales by a compound annual rate of roughly 5%",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Given the relative unpopularity of large technology firms like Google and Apple, we expect that copyright law with respect to music will continue to rule in favor rightsholders and artists.",
    "output": "[Cause] the relative unpopularity of large technology firms like Google and Apple [Relation] cause [Effect] copyright law with respect to music will continue to rule in favor rightsholders and artists",
    "gold": "[Cause] the relative unpopularity of large technology firms like Google and Apple [Relation] cause [Effect] copyright law with respect to music will continue to rule in favor rightsholders and artists",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In this vein, it opted to delay some previously slated launches (including its lineup of plant-based meat alternatives) to maintain service levels to its retail partners in light of high demand, which we view as prudent.",
    "output": "[Cause] high demand [Relation] cause [Effect] it opted to delay some previously slated launches (including its lineup of plant-based meat alternatives) to maintain service levels to its retail partners",
    "gold": "[Cause]  delay some previously slated launches [Relation] enable [Effect]  maintain service levels to its retail partners in light of high demand",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "The company's scale enables its expansion approach, as Five Below has the capital to enter markets in size, which it wisely uses to open several stores on its first day in a market to immediately leverage advertising and distribution costs.",
    "output": "[Cause] Five Below has the capital to enter markets in size [Relation] enable [Effect] The company's scale enables its expansion approach",
    "gold": "[Cause] The company's scale [Relation] enable [Effect]  its expansion approach",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Intel and AMD are the primary licensees of x86 and owners of x86 intellectual property, as they have a cross-licensing agreement that covers the x86 patent portfolio and would be terminated if either firm was acquired or had a change of control.",
    "output": "[Cause] they have a cross-licensing agreement that covers the x86 patent portfolio [Relation] cause [Effect] Intel and AMD are the primary licensees of x86 and owners of x86 intellectual property",
    "gold": "[Cause]  they have a cross-licensing agreement that covers the x86 patent portfolio [Relation] cause [Effect] Intel and AMD are the primary licensees of x86 and owners of x86 intellectual property",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "For fiscal 2023-25, we forecast the content segment will return to its fiscal 2019 levels and beyond due to the strong slate of Marvel movies and the growth in TV, subscription VOD, and other outlets as Disney+ ramps up.",
    "output": "[Cause] the strong slate of Marvel movies and the growth in TV, subscription VOD, and other outlets as Disney+ ramps up [Relation] cause [Effect] the content segment will return to its fiscal 2019 levels and beyond",
    "gold": "[Cause] the strong slate of Marvel movies and the growth in TV, subscription VOD, and other outlets as Disney+ ramps up [Relation] cause [Effect] the content segment will return to its fiscal 2019 levels and beyond",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We project adjusted EBITDA margin to expand by about five percentage points between 2019 and 2024, as the same technological factor that leads to deflationary pricing reduces Cogent's network costs.",
    "output": "[Cause] the same technological factor that leads to deflationary pricing reduces Cogent's network costs [Relation] cause [Effect] adjusted EBITDA margin to expand by about five percentage points between 2019 and 2024",
    "gold": "[Cause]  technological factor that leads to deflationary pricing [Relation] cause [Effect] reduces Cogent's network costs",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Like competitor Arrow Electronics, Avnet has a broad range of components and provides various value-added services to help customers develop new products, improve time to market, and reduce Electronics & Computer Distributioninefficiencies.",
    "output": "[Cause] Avnet has a broad range of components and provides various value-added services [Relation] enable [Effect] help customers develop new products, improve time to market, and reduce Electronics & Computer Distributioninefficiencies",
    "gold": "[Cause] Avnet has a broad range of components and provides various value-added services [Relation] enable [Effect] help customers develop new products, improve time to market, and reduce Electronics & Computer Distributioninefficiencies",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Reflecting relatively strong fourth-quarter sales (4% revenue growth; flat comparable store sales), we are lifting our valuation of Burlington to $201 per share (29 times forecast fiscal 2021 earnings) from $183.",
    "output": "[Cause] relatively strong fourth-quarter sales [Relation] cause [Effect] we are lifting our valuation of Burlington to $201 per share (29 times forecast fiscal 2021 earnings) from $183",
    "gold": "[Cause] strong fourth-quarter sales (4% revenue growth; flat comparable store sales) [Relation] cause [Effect] we are lifting our valuation of Burlington to $201 per share (29 times forecast fiscal 2021 earnings) from $183",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Although the migration of wealth to urban centers has been a boon to SL Green, these dynamics can reverse and have a large effect on the company's fortunes.",
    "output": "[Cause] these dynamics can reverse [Relation] cause [Effect] have a large effect on the company's fortunes",
    "gold": "[Cause]  the migration of wealth to urban centers [Relation] enable [Effect] have a large effect on the company's fortunes",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Visa's position as the leading network makes it something of a tollbooth business, and the company is relatively agnostic to the smaller shifts within electronic payments, since it earns fees regardless of whether payment is credit, debit, or mobile.",
    "output": "[Cause] Visa's position as the leading network [Relation] enable [Effect] it something of a tollbooth business",
    "gold": "[Cause] it earns fees regardless of whether payment is credit, debit, or mobile [Relation] cause [Effect] the company is relatively agnostic to the smaller shifts within electronic payments",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Visa's position as the leading network makes it something of a tollbooth business, and the company is relatively agnostic to the smaller shifts within electronic payments, since it earns fees regardless of whether payment is credit, debit, or mobile.",
    "output": "[Cause] it earns fees regardless of whether payment is credit, debit, or mobile [Relation] cause [Effect] the company is relatively agnostic to the smaller shifts within electronic payments",
    "gold": "[Cause] Visa's position as the leading network [Relation] enable [Effect] something of a tollbooth business",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "AT&amp;T has built FTTH to 14 million customer locations throughout its territory, but this represents only about 25% of the total and this effort is primarily the result of regulatory conditions placed on the DirecTV acquisition.",
    "output": "[Cause] regulatory conditions placed on the DirecTV acquisition [Relation] cause [Effect] AT&amp;T has built FTTH to 14 million customer locations throughout its territory",
    "gold": "[Cause] regulatory conditions placed on the DirecTV acquisition [Relation] cause [Effect] AT&amp;T has built FTTH to 14 million customer locations throughout its territory",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "While Capital One's funding costs are disadvantaged in our view, we think that operationally the bank has some cost advantages, helping it reach a mid- to low-50s efficiency ratio.",
    "output": "[Cause] operationally the bank has some cost advantages [Relation] enable [Effect] reaching a mid- to low-50s efficiency ratio",
    "gold": "[Cause]  Capital One's funding costs [Relation] enable [Effect] operationally the bank has some cost advantages, helping it reach a mid- to low-50s efficiency ratio",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "With growing EV adoption and increased sales of Internet of things technologies, Celanese is well positioned for outsize engineered materials' volume growth over the next several years.",
    "output": "[Cause] growing EV adoption and increased sales of Internet of things technologies [Relation] enable [Effect] Celanese is well positioned for outsize engineered materials' volume growth over the next several years",
    "gold": "[Cause] growing EV adoption and increased sales of Internet of things technologies [Relation] cause [Effect] Celanese is well positioned for outsize engineered materials' volume growth over the next several years",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We believe this divestiture, as well as the original Refinitiv carve-out, has created significant value for Thomson Reuters shareholders, as it lowered the company's overall risk level, reduced the incremental investment required to maintain the business and distanced the company from its less advantaged businesses.",
    "output": "[Cause] it lowered the company's overall risk level, reduced the incremental investment required to maintain the business and distanced the company from its less advantaged businesses [Relation] cause [Effect] this divestiture, as well as the original Refinitiv carve-out, has created significant value for Thomson Reuters shareholders",
    "gold": "[Cause]  it lowered the company's overall risk level, reduced the incremental investment required to maintain the business and distanced the company from its less advantaged businesses [Relation] cause [Effect] this divestiture, as well as the original Refinitiv carve-out, has created significant value for Thomson Reuters shareholders",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Fire protection offers opportunities for increased revenue without significant added cost, while direct uniform sales provides stickier revenue streams through longer product upgrade cycles.",
    "output": "[Cause] Fire protection [Relation] enable [Effect] opportunities for increased revenue without significant added cost",
    "gold": "[Cause] Fire protection [Relation] cause [Effect] opportunities for increased revenue without significant added cost",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Fire protection offers opportunities for increased revenue without significant added cost, while direct uniform sales provides stickier revenue streams through longer product upgrade cycles.",
    "output": "[Cause] longer product upgrade cycles [Relation] enable [Effect] stickier revenue streams",
    "gold": "[Cause] direct uniform sales [Relation] enable [Effect] stickier revenue streams",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We believe this complexity in 4G today and 5G tomorrow enables firms like Skyworks to benefit from its integration capabilities, packing more and more content into its devices.",
    "output": "[Cause] this complexity in 4G today and 5G tomorrow [Relation] enable [Effect] firms like Skyworks to benefit from its integration capabilities, packing more and more content into its devices",
    "gold": "[Cause]  this complexity in 4G today and 5G tomorrow [Relation] enable [Effect] firms like Skyworks to benefit from its integration capabilities, packing more and more content into its devices",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Process node isn't everything, as Nvidia's 2019 gaming GPUs remained on TSMC's 12-nm process as opposed to the foundry's 7-nm process, but still performed better than AMD's offerings in most benchmarks.",
    "output": "[Cause] Nvidia's 2019 gaming GPUs remained on TSMC's 12-nm process as opposed to the foundry's 7-nm process [Relation] cause [Effect] Process node isn't everything",
    "gold": "[Cause] still performed better than AMD's offerings in most benchmarks [Relation] cause [Effect] Process node isn't everything",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We expect Neogen will continue to face headwinds through 2021 because of reduced volumes and price volatility during the ongoing pandemic.",
    "output": "[Cause] reduced volumes and price volatility during the ongoing pandemic [Relation] cause [Effect] Neogen will continue to face headwinds through 2021",
    "gold": "[Cause]  reduced volumes and price volatility during the ongoing pandemic [Relation] cause [Effect] Neogen will continue to face headwinds through 2021",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The value of Tencent's network rises as more customers use Weixin and mobile QQ, and as usage per customer increases.",
    "output": "[Cause] more customers use Weixin and mobile QQ [Relation] cause [Effect] The value of Tencent's network rises",
    "gold": "[Cause]  usage per customer increases [Relation] enable [Effect] The value of Tencent's network rises",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "The value of Tencent's network rises as more customers use Weixin and mobile QQ, and as usage per customer increases.",
    "output": "[Cause] more customers use Weixin and mobile QQ [Relation] cause [Effect] The value of Tencent's network rises",
    "gold": "[Cause]  more customers use Weixin and mobile QQ [Relation] enable [Effect] The value of Tencent's network rises",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We expect that the firm will continue to use concerts as the 'flywheel' that drives the higher margin ticketing and sponsorship and advertising segments, along with onsite spending by fans.",
    "output": "[Cause] the 'flywheel' that drives the higher margin ticketing and sponsorship and advertising segments, along with onsite spending by fans [Relation] cause [Effect] the firm will continue to use concerts",
    "gold": "[Cause] that the firm will continue to use concerts as the 'flywheel' [Relation] enable [Effect] the higher margin ticketing and sponsorship and advertising segments, along with onsite spending by fans",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "These logistics create inelasticity of demand, which creates pricing power for the dealer and is a source of excellent profit in good times and bad.",
    "output": "[Cause] These logistics create inelasticity of demand [Relation] cause [Effect] creates pricing power for the dealer and is a source of excellent profit in good times and bad",
    "gold": "[Cause] These logistics create inelasticity of demand [Relation] cause [Effect] creates pricing power for the dealer and is a source of excellent profit in good times and bad",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We also expect MercadoLibre to convert a higher portion of Internet users into lifetime customers, aided by continued investments in technology upgrades, mobile innovations, increased shipping capabilities, and brand awareness marketing.",
    "output": "[Cause] continued investments in technology upgrades, mobile innovations, increased shipping capabilities, and brand awareness marketing [Relation] enable [Effect] MercadoLibre to convert a higher portion of Internet users into lifetime customers",
    "gold": "[Cause]  technology upgrades, mobile innovations, increased shipping capabilities, and brand awareness marketing. [Relation] cause [Effect] convert a higher portion of Internet users into lifetime customers,",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "BCE also awaiting a regulatory decision on whether the big wireless carriers will be required to wholesale network capacity to smaller carriers without their own networks, which would increase competition.",
    "output": "[Cause] the big wireless carriers will be required to wholesale network capacity to smaller carriers without their own networks [Relation] cause [Effect] increase competition",
    "gold": "[Cause] the big wireless carriers will be required to wholesale network capacity to smaller carriers without their own networks [Relation] cause [Effect]  increase competition",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We assume around a 1% per year decrease in operating earnings for SK Telecom from 2019 onward, with government pressure on pricing offsetting the positive of the threat of a new entrant having been taken off the table.",
    "output": "[Cause] government pressure on pricing [Relation] prevent [Effect] the positive of the threat of a new entrant having been taken off the table",
    "gold": "[Cause] government pressure on pricing offsetting the positive of the threat of a new entrant having been taken off the table [Relation] cause [Effect]  around a 1% per year decrease in operating earnings for SK Telecom from 2019 onward",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "First Solar's technology still has a slight edge on the silicon competition, but silicon technology is catching up as more investment flows into the industry.",
    "output": "[Cause] more investment flows into the industry [Relation] cause [Effect] silicon technology is catching up",
    "gold": "[Cause] more investment flows into the industry [Relation] enable [Effect] silicon technology is catching up",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We have increased our 2021 revenue growth estimate to 55% from 36%, as ad spending bounced back faster from the pandemic than we had expected.",
    "output": "[Cause] ad spending bounced back faster from the pandemic than we had expected [Relation] cause [Effect] We have increased our 2021 revenue growth estimate to 55% from 36%",
    "gold": "[Cause] ad spending bounced back faster from the pandemic than we had expected [Relation] cause [Effect] We have increased our 2021 revenue growth estimate to 55% from 36%",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "These processing services are focused on administrative accuracy with relatively low fee rates. As a result, there are no material customer concentration issues and no one customer represents more than 4% of revenue.",
    "output": "[Cause] These processing services are focused on administrative accuracy with relatively low fee rates [Relation] cause [Effect] there are no material customer concentration issues and no one customer represents more than 4% of revenue",
    "gold": "[Cause] These processing services are focused on administrative accuracy with relatively low fee rates [Relation] cause [Effect] there are no material customer concentration issues and no one customer represents more than 4% of revenue",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Challenges to Economic Profit:First, given that the cannabis industry remains in the growth stage, we think that years of significant investment will be necessary to support robust growth for the industry.",
    "output": "[Cause] the cannabis industry remains in the growth stage [Relation] cause [Effect] years of significant investment will be necessary",
    "gold": "[Cause] the cannabis industry remains in the growth stage [Relation] cause [Effect] years of significant investment will be necessary",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Challenges to Economic Profit:First, given that the cannabis industry remains in the growth stage, we think that years of significant investment will be necessary to support robust growth for the industry.",
    "output": "[Cause] years of significant investment [Relation] enable [Effect] robust growth for the industry",
    "gold": "[Cause] support robust growth for the industry [Relation] cause [Effect] years of significant investment will be necessary",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Hanes has suffered disruptions from store closures by wholesale partners (such as Sears and Kmart) in the U.S., and this issue will likely impact sales, especially as the virus puts many retailers into distress.",
    "output": "[Cause] the virus puts many retailers into distress [Relation] cause [Effect] this issue will likely impact sales",
    "gold": "[Cause] Hanes has suffered disruptions from store closures [Relation] cause [Effect] impact sales",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "However, these advantages are predicated on the immense forecast volume of Apple's products, and we surmise these advantages would evaporate if Apple's device production were to diminish.",
    "output": "[Cause] the immense forecast volume of Apple's products [Relation] cause [Effect] these advantages would evaporate if Apple's device production were to diminish",
    "gold": "[Cause] Apple's device production were to diminish [Relation] cause [Effect] these advantages would evaporate",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Furthermore, registry programs, like ''The One,''and loyalty plans, such as ''The Key,'' could further enhance transaction cadence of existing customers and marketing efficiency as the firm better understands its customers' desires.",
    "output": "[Cause] the firm better understands its customers' desires [Relation] enable [Effect] registry programs, like ''The One,''and loyalty plans, such as ''The Key,'' could further enhance transaction cadence of existing customers and marketing efficiency",
    "gold": "[Cause] registry programs, like ''The One,''and loyalty plans, such as ''The Key,'' [Relation] enable [Effect] r enhance transaction cadence of existing customers and marketing efficiency",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Once the cap is removed, it will once again be able to grow the balance sheet and return to some form of offense instead of constantly being on defense.",
    "output": "[Cause] the cap is removed [Relation] enable [Effect] grow the balance sheet and return to some form of offense instead of constantly being on defense",
    "gold": "[Cause] the cap is removed [Relation] cause [Effect] grow the balance sheet and return to some form of offense instead of constantly being on defense",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "While this unit accounts for less than 40% of total revenue, attractive profitability means it drives 70% of consolidated operating income.",
    "output": "[Cause] attractive profitability [Relation] enable [Effect] it drives 70% of consolidated operating income",
    "gold": "[Cause] attractive profitability [Relation] cause [Effect]  it drives 70% of consolidated operating income",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "By the summer, dry-van freight demand soared, capacity tightened, spot opportunities abounded, and rates surged on a massive uptick in retailer restocking rooted in a big shift in U.S.",
    "output": "[Cause] a massive uptick in retailer restocking rooted in a big shift in U.S [Relation] cause [Effect] dry-van freight demand soared, capacity tightened, spot opportunities abounded, and rates surged",
    "gold": "[Cause] dry-van freight demand soared, capacity tightened, spot opportunities abounded, and rates surged on a massive uptick in retailer restocking [Relation] enable [Effect] a big shift in U.S.",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "The rapid growth of e-commerce should support economic profit longer term, but it's not a certainty and is the key reason for our high uncertainty rating.",
    "output": "[Cause] The rapid growth of e-commerce [Relation] enable [Effect] economic profit longer term",
    "gold": "[Cause] The rapid growth of e-commerce [Relation] cause [Effect] our high uncertainty rating",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Since the IPO, HD Supply's management team has kept a steadfast focus on repairing the balance sheet, and the company has significantly reduced its debt load.",
    "output": "[Cause] HD Supply's management team has kept a steadfast focus on repairing the balance sheet [Relation] enable [Effect] the company has significantly reduced its debt load",
    "gold": "[Cause] HD Supply's management team has kept a steadfast focus on repairing the balance sheet [Relation] enable [Effect]  the company has significantly reduced its debt load",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We think margin could take a step back in 2022 because of more-normal levels of operating costs and reduced operating leverage, but we still think West can reasonably achieve average annual margin expansion of 100 basis points.",
    "output": "[Cause] more-normal levels of operating costs and reduced operating leverage [Relation] cause [Effect] margin could take a step back in 2022",
    "gold": "[Cause] more-normal levels of operating costs and reduced operating leverage [Relation] enable [Effect]  margin could take a step back in 2022",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "An expected rise in interest rates could hamper industry revenue growth, however, we don't see this as a near-term risk.",
    "output": "[Cause] An expected rise in interest rates [Relation] prevent [Effect] industry revenue growth",
    "gold": "[Cause] An expected rise in interest rates [Relation] prevent [Effect] industry revenue growth",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Annual contractual price reductions are an industry norm, so Veoneer has to aggressively employ kaizen, kanban, Six Sigma, and other lean manufacturing practices to advance cost savings.",
    "output": "[Cause] Annual contractual price reductions are an industry norm [Relation] cause [Effect] Veoneer has to aggressively employ kaizen, kanban, Six Sigma, and other lean manufacturing practices to advance cost savings",
    "gold": "[Cause] Annual contractual price reductions are an industry norm [Relation] cause [Effect] Veoneer has to aggressively employ kaizen, kanban, Six Sigma, and other lean manufacturing practices to advance cost savings",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Further, rampant inflation in both vanilla and garlic prices (which had been up high-double- to even triple-digit rates) also ate into the firm's profits in the past.",
    "output": "[Cause] rampant inflation in both vanilla and garlic prices [Relation] cause [Effect] ate into the firm's profits in the past",
    "gold": "[Cause]  rampant inflation in both vanilla and garlic prices [Relation] cause [Effect] ate into the firm's profits in the past",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We believe the top line will be driven by secular tailwinds, most prominently health- and wellness-aligned sentiments, in the firm's functional beverage categories.",
    "output": "[Cause] secular tailwinds [Relation] cause [Effect] the top line",
    "gold": "[Cause] prominently health- and wellness-aligned sentiments, in the firm's functional beverage categories [Relation] enable [Effect]  top line",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Xcel's growth could hit the top end of management's 5%-7% average annual growth target if the company gains regulatory approval for new projects in 2022 and beyond.",
    "output": "[Cause] the company gains regulatory approval for new projects in 2022 and beyond [Relation] enable [Effect] Xcel's growth could hit the top end of management's 5%-7% average annual growth target",
    "gold": "[Cause] the company gains regulatory approval for new projects in 2022 and beyond [Relation] cause [Effect] Xcel's growth could hit the top end of management's 5%-7% average annual growth target",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Furthermore, analog chips tend to make up only a small portion of a product's bill of materials, so purchasing decisions tend to be based on performance rather than price, helping Maxim and its peers retain pricing power.",
    "output": "[Cause] analog chips tend to make up only a small portion of a product's bill of materials [Relation] cause [Effect] purchasing decisions tend to be based on performance rather than price",
    "gold": "[Cause] analog chips tend to make up only a small portion of a product's bill of materials [Relation] cause [Effect] purchasing decisions tend to be based on performance rather than price",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Furthermore, analog chips tend to make up only a small portion of a product's bill of materials, so purchasing decisions tend to be based on performance rather than price, helping Maxim and its peers retain pricing power.",
    "output": "[Cause] purchasing decisions tend to be based on performance rather than price [Relation] enable [Effect] Maxim and its peers retain pricing power",
    "gold": "[Cause] purchasing decisions tend to be based on performance rather than price [Relation] enable [Effect] Maxim and its peers retain pricing power",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We also expect it can avoid bringing assets back on a 1-for-1 basis as demand recovers, driving positive operating leverage.",
    "output": "[Cause] demand recovers, driving positive operating leverage [Relation] cause [Effect] it can avoid bringing assets back on a 1-for-1 basis",
    "gold": "[Cause]  it can avoid bringing assets back on a 1-for-1 basis as demand recovers [Relation] enable [Effect] driving positive operating leverage",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We don't expect industry Macao gaming revenue to return to 2019 sales levels until early 2022 (unchanged), as we expect pent-up demand to drive traffic.",
    "output": "[Cause] pent-up demand to drive traffic [Relation] cause [Effect] We don't expect industry Macao gaming revenue to return to 2019 sales levels until early 2022 (unchanged)",
    "gold": "[Cause] pent-up demand [Relation] enable [Effect] drive traffic",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We forecast total operating expense to average 7.9% of total revenue over the next 10 years. As a result of our revenue and operating forecast, we project operating margins to reach 28% in 2030 from 22.6% in the prepandemic year of 2019.",
    "output": "[Cause] We forecast total operating expense to average 7.9% of total revenue over the next 10 years [Relation] cause [Effect] we project operating margins to reach 28% in 2030 from 22.6% in the prepandemic year of 2019",
    "gold": "[Cause] operating margins to reach 28% in 2030 from 22.6% in the prepandemic year of 2019 [Relation] cause [Effect]  total operating expense to average 7.9% of total revenue over the next 10 years",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Thus, the company is vulnerable to large cancellations and pipeline reprioritizations since it can be challenging to immediately repurpose capacity for new projects.",
    "output": "[Cause] it can be challenging to immediately repurpose capacity for new projects [Relation] cause [Effect] the company is vulnerable to large cancellations and pipeline reprioritizations",
    "gold": "[Cause]  it can be challenging to immediately repurpose capacity for new projects [Relation] cause [Effect]  the company is vulnerable to large cancellations and pipeline reprioritizations",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "This is slightly higher than gross revenue growth, as we expect rising customer contract rates to allow gross profit per load (and gross margin) to catch up with surging cost of hire rooted in extremely constrained capacity.",
    "output": "[Cause] rising customer contract rates [Relation] enable [Effect] gross profit per load (and gross margin) to catch up with surging cost of hire rooted in extremely constrained capacity",
    "gold": "[Cause] we expect rising customer contract rates to allow gross profit per load (and gross margin) to catch up with surging cost of hire [Relation] cause [Effect] This is slightly higher than gross revenue growth",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "The company's franchises have a dedicated user base, providing Activision with the leverage to push more of its games via direct digital channels thus bypassing retailers, generating higher gross margins and improving returns on invested capital.",
    "output": "[Cause] The company's franchises have a dedicated user base [Relation] enable [Effect] providing Activision with the leverage to push more of its games via direct digital channels",
    "gold": "[Cause] a dedicated user base [Relation] enable [Effect] higher gross margins",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "With switching costs negligible, Dollar General faces competition from a range of retailers, with digital sellers' increasing reach into less densely populated areas adding pressure to what had been a more protected store network.",
    "output": "[Cause] switching costs negligible [Relation] cause [Effect] Dollar General faces competition from a range of retailers",
    "gold": "[Cause] switching costs negligible [Relation] cause [Effect] Dollar General faces competition from a range of retailers",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "With switching costs negligible, Dollar General faces competition from a range of retailers, with digital sellers' increasing reach into less densely populated areas adding pressure to what had been a more protected store network.",
    "output": "[Cause] digital sellers' increasing reach into less densely populated areas [Relation] cause [Effect] adding pressure to what had been a more protected store network",
    "gold": "[Cause] Dollar General faces competition from a range of retailers [Relation] cause [Effect] digital sellers' increasing reach into less densely populated areas adding pressure to what had been a more protected store network",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Long-term contracts that include both development and production as well as high customer switching costs promote sticky market shares for Veoneer's products.",
    "output": "[Cause] Long-term contracts that include both development and production as well as high customer switching costs [Relation] enable [Effect] promote sticky market shares for Veoneer's products",
    "gold": "[Cause] Long-term contracts that include both development and production as well as high customer switching costs [Relation] enable [Effect] promote sticky market shares for Veoneer's products",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In addition, these systems allow clients to input their own orders, freeing up about 50% of the salesforce's time so they can engage in more value-added activities, such as consultative selling to increase penetration of existing accounts or follow leads to secure new business.",
    "output": "[Cause] these systems allow clients to input their own orders [Relation] enable [Effect] freeing up about 50% of the salesforce's time",
    "gold": "[Cause] these systems allow clients to input their own orders [Relation] cause [Effect] they can engage in more value-added activities",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "In addition, these systems allow clients to input their own orders, freeing up about 50% of the salesforce's time so they can engage in more value-added activities, such as consultative selling to increase penetration of existing accounts or follow leads to secure new business.",
    "output": "[Cause] these systems allow clients to input their own orders [Relation] enable [Effect] freeing up about 50% of the salesforce's time",
    "gold": "[Cause] consultative selling [Relation] enable [Effect] increase penetration of existing accounts",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "In addition, these systems allow clients to input their own orders, freeing up about 50% of the salesforce's time so they can engage in more value-added activities, such as consultative selling to increase penetration of existing accounts or follow leads to secure new business.",
    "output": "[Cause] these systems allow clients to input their own orders [Relation] enable [Effect] freeing up about 50% of the salesforce's time",
    "gold": "[Cause]  follow [Relation] enable [Effect] secure new business",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "The company's brine assets have a slightly lower lithium concentration and, therefore, a slightly higher unit cost than the top-tier brine assets in Chile.",
    "output": "[Cause] The company's brine assets have a slightly lower lithium concentration [Relation] cause [Effect] a slightly higher unit cost than the top-tier brine assets in Chile",
    "gold": "[Cause] The company's brine assets have a slightly lower lithium concentration [Relation] enable [Effect]  a slightly higher unit cost than the top-tier brine assets in Chile",
    "valid": true,
    "tag": "em"
  },
  {
    "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. As such, Hanes' operating margins in innerwear are typically in the low 20s, which is higher than the operating margins of some higher-priced branded apparel.",
    "output": "[Cause] 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 [Relation] cause [Effect] Hanes' operating margins in innerwear are typically in the low 20s, which is higher than the operating margins of some higher-priced branded apparel",
    "gold": "[Cause] 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 [Relation] cause [Effect] Hanes' operating margins in innerwear are typically in the low 20s, which is higher than the operating margins of some higher-priced branded apparel",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Shareholders should keep a close watch on PSEG's venture into offshore wind, which could introduce financial and operational risk.",
    "output": "[Cause] Shareholders should keep a close watch on PSEG's venture into offshore wind [Relation] cause [Effect] introduce financial and operational risk",
    "gold": "[Cause] Shareholders should keep a close watch on PSEG's venture into offshore wind [Relation] cause [Effect] introduce financial and operational risk",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "ConocoPhillips also stands to benefit from Concho's expertise in the Permian while deriving $500 million in annual synergies from the deal, primarily through cost reductions.",
    "output": "[Cause] Concho's expertise in the Permian [Relation] enable [Effect] ConocoPhillips also stands to benefit",
    "gold": "[Cause] cost reductions [Relation] cause [Effect] ConocoPhillips also stands to benefit from Concho's expertise in the Permian while deriving $500 million in annual synergies from the deal",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "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 SG&amp;A deleveraging.",
    "output": "[Cause] a favorable mix shift [Relation] cause [Effect] dealers generally report higher gross margins",
    "gold": "[Cause] a favorable mix shift [Relation] cause [Effect] dealers generally report higher gross margins",
    "valid": true,
    "tag": "em"
  },
  {
    "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 SG&amp;A deleveraging.",
    "output": "[Cause] SG&amp;A deleveraging [Relation] cause [Effect] report lower operating margins",
    "gold": "[Cause] SG&amp;A deleveraging [Relation] cause [Effect] report lower operating margins",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In total, the assets sales reduced ConocoPhillips' production about 16% from 2014, but divested volumes were largely natural gas, leaving higher-margin crude oil production at 51% of the portfolio compared with 39% previously.",
    "output": "[Cause] the assets sales [Relation] cause [Effect] reduced ConocoPhillips' production about 16% from 2014",
    "gold": "[Cause] the assets sales reduced ConocoPhillips' production about 16% from 2014, but divested volumes were largely natural gas [Relation] cause [Effect] higher-margin crude oil production at 51% of the portfolio compared with 39% previously",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "In Belgium and Central Europe Orange owns very little fixed-line infrastructure so its ability to offer broadband and convergent services is more limited (in Belgium Orange has 350,000 fixed accesses compared with 2 million for Proximus or Telnet).",
    "output": "[Cause] In Belgium and Central Europe Orange owns very little fixed-line infrastructure [Relation] cause [Effect] its ability to offer broadband and convergent services is more limited",
    "gold": "[Cause] In Belgium and Central Europe Orange owns very little fixed-line infrastructure [Relation] cause [Effect] its ability to offer broadband and convergent services is more limited",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Intangible assets are evident in Neptune's ability to solve a customer pain points by making all its network meters backwards compatible with non-network meters, which according to management, gives Roper some pricing power. This has allowed utility customers to migrate to network meters over a series of years and has allowed customers to not have to either abandon their historical investment or incur the expense of unnecessary downtime from a large, one-time migrations, which we believe evidences switching costs.",
    "output": "[Cause] Intangible assets are evident in Neptune's ability to solve a customer pain points by making all its network meters backwards compatible with non-network meters, which according to management, gives Roper some pricing power [Relation] enable [Effect] utility customers to migrate to network meters over a series of years and has allowed customers to not have to either abandon their historical investment or incur the expense of unnecessary downtime from a large, one-time migrations, which we believe evidences switching costs",
    "gold": "[Cause] Intangible assets are evident in Neptune's ability to solve a customer pain points by making all its network meters backwards compatible with non-network meters, which according to management, gives Roper some pricing power [Relation] enable [Effect]  utility customers to migrate to network meters over a series of years and has allowed customers to not have to either abandon their historical investment or incur the expense of unnecessary downtime from a large, one-time migrations, which we believe evidences switching costs",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Although most dealerships are good businesses, we think the large publicly traded dealers are best positioned for growth going forward because these firms can be the most flexible in changing brand mix.",
    "output": "[Cause] these firms can be the most flexible in changing brand mix [Relation] cause [Effect] the large publicly traded dealers are best positioned for growth going forward",
    "gold": "[Cause] these firms can be the most flexible in changing brand mix [Relation] cause [Effect] the large publicly traded dealers are best positioned for growth going forward",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Tesla's strategy is to maintain its market leader status as EVs grow from a niche auto market to reaching mass consumer adoption.",
    "output": "[Cause] EVs grow from a niche auto market to reaching mass consumer adoption [Relation] cause [Effect] Tesla's strategy is to maintain its market leader status",
    "gold": "[Cause] maintain its market leader status [Relation] cause [Effect] EVs grow from a niche auto market to reaching mass consumer adoption",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Through its stake in CIBIL, TransUnion has a leading position in India, which we believe is one of the company's largest opportunities in the long run.",
    "output": "[Cause] its stake in CIBIL [Relation] enable [Effect] TransUnion has a leading position in India",
    "gold": "[Cause] Through its stake in CIBIL, TransUnion has a leading position in India [Relation] cause [Effect] one of the company's largest opportunities in the long run",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "In short, we materially boost our revenue forecasts for the next several years to give more credit for accelerating market share gains stemming from ample network capacity, and this also lifted our margin assumptions.",
    "output": "[Cause] materially boost our revenue forecasts for the next several years [Relation] enable [Effect] give more credit for accelerating market share gains stemming from ample network capacity",
    "gold": "[Cause] give more credit for accelerating market share gains stemming from ample network capacity [Relation] enable [Effect] materially boost our revenue forecasts for the next several years",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "In short, we materially boost our revenue forecasts for the next several years to give more credit for accelerating market share gains stemming from ample network capacity, and this also lifted our margin assumptions.",
    "output": "[Cause] materially boost our revenue forecasts for the next several years [Relation] enable [Effect] give more credit for accelerating market share gains stemming from ample network capacity",
    "gold": "[Cause] materially boost our revenue forecasts for the next several years [Relation] cause [Effect]  lifted our margin assumptions",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Both Visa and Mastercard have paid substantial fines historically related to the oligopolistic nature of the industry, and we see legal and regulatory risk as intrinsic to the business model, given merchants' desires to lower fees.",
    "output": "[Cause] the oligopolistic nature of the industry [Relation] cause [Effect] Both Visa and Mastercard have paid substantial fines",
    "gold": "[Cause] oligopolistic nature of the industry [Relation] cause [Effect] Visa and Mastercard have paid substantial fines historically",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Although FireEye's platform does not have the breadth of its rivals, we find value in FireEye being able to offer leading services with its subscriptions.",
    "output": "[Cause] FireEye being able to offer leading services with its subscriptions [Relation] enable [Effect] FireEye's platform does not have the breadth of its rivals",
    "gold": "[Cause]  value in FireEye [Relation] enable [Effect] offer leading services with its subscriptions",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Additionally, on the cost advantage front, we believe Centene's significant scale, efficient operations, and effective programs for the Medicaid population give it a cost advantage over other private health insurers that offer Medicaid plans, too, which contributes to its market-leading position in the Medicaid managed-care business, in our opinion.",
    "output": "[Cause] Centene's significant scale, efficient operations, and effective programs for the Medicaid population give it a cost advantage over other private health insurers that offer Medicaid plans, too [Relation] enable [Effect] contributes to its market-leading position in the Medicaid managed-care business",
    "gold": "[Cause] Centene's significant scale, efficient operations, and effective programs for the Medicaid population [Relation] enable [Effect]  it a cost advantage over other private health insurers that offer Medicaid plans",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Hospital reimbursement from Medicare and insurers has been pressured for many years, which has squeezed hospitals margins which try to pass these pressures on to its suppliers.",
    "output": "[Cause] Hospital reimbursement from Medicare and insurers has been pressured for many years [Relation] cause [Effect] squeezed hospitals margins which try to pass these pressures on to its suppliers",
    "gold": "[Cause] Hospital reimbursement from Medicare and insurers has been pressured for many years [Relation] cause [Effect] squeezed hospitals margins which try to pass these pressures on to its suppliers",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Additionally, the concentration of the Essex portfolio in tech-oriented West Coast markets leaves it exposed to the risk of a downturn and a resulting job/income loss in the technology sector.",
    "output": "[Cause] the concentration of the Essex portfolio in tech-oriented West Coast markets [Relation] cause [Effect] exposed to the risk of a downturn and a resulting job/income loss in the technology sector",
    "gold": "[Cause] the risk of a downturn [Relation] cause [Effect] job/income loss in the technology sector",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Despite declining automotive revenue, we think that the company's aviation, marine, outdoor, and fitness segments will all grow, resulting in a five-year compound annual growth rate of 8% for the firm as a whole.",
    "output": "[Cause] the company's aviation, marine, outdoor, and fitness segments will all grow [Relation] cause [Effect] a five-year compound annual growth rate of 8% for the firm as a whole",
    "gold": "[Cause] the company's aviation, marine, outdoor, and fitness segments will all grow [Relation] cause [Effect] a five-year compound annual growth rate of 8% for the firm as a whole",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We believe Gildan has suffered market share losses to private-label brands, especially in socks, as its annual hosiery and underwear sales have declined by over $200 million over the past three years.",
    "output": "[Cause] its annual hosiery and underwear sales have declined by over $200 million over the past three years [Relation] cause [Effect] Gildan has suffered market share losses to private-label brands, especially in socks",
    "gold": "[Cause] its annual hosiery and underwear sales have declined by over $200 million over the past three years [Relation] cause [Effect] Gildan has suffered market share losses to private-label brands, especially in socks",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Aside from the secular decline in commodity prices, the erosion of Exxon's returns is largely attributable to its pursuit of production volume growth during the last decade or so through acquisitions and investment in higher-cost assets like oil sands.",
    "output": "[Cause] its pursuit of production volume growth during the last decade or so through acquisitions and investment in higher-cost assets like oil sands [Relation] cause [Effect] the erosion of Exxon's returns",
    "gold": "[Cause] its pursuit of production volume growth during the last decade or so through acquisitions and investment in higher-cost assets like oil sands [Relation] cause [Effect] the erosion of Exxon's returns",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Aside from the secular decline in commodity prices, the erosion of Exxon's returns is largely attributable to its pursuit of production volume growth during the last decade or so through acquisitions and investment in higher-cost assets like oil sands.",
    "output": "[Cause] its pursuit of production volume growth during the last decade or so through acquisitions and investment in higher-cost assets like oil sands [Relation] cause [Effect] the erosion of Exxon's returns",
    "gold": "[Cause] the secular decline in commodity prices [Relation] cause [Effect] the erosion of Exxon's returns",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Segment operating margins, moreover, are nearly 2.5 times that of comparable peers, which we partially attribute to economies of scale, giving ITW cost advantage in Hi-Cone's business.",
    "output": "[Cause] Segment operating margins, moreover, are nearly 2.5 times that of comparable peers [Relation] cause [Effect] we partially attribute to economies of scale, giving ITW cost advantage in Hi-Cone's business",
    "gold": "[Cause] Segment operating margins, moreover, are nearly 2.5 times that of comparable peers, which we partially attribute to economies of scale [Relation] enable [Effect] giving ITW cost advantage in Hi-Cone's business.",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "This level of brand-development expenditure creates a virtuous cycle for the larger players because higher spending on marketing, line extensions, and continuous investment in innovation can drive volume and category growth, assuming execution is effective. This makes the products more appealing to distributors and retailers, and in turn makes them more likely to win shelf space.",
    "output": "[Cause] This level of brand-development expenditure creates a virtuous cycle for the larger players because higher spending on marketing, line extensions, and continuous investment in innovation can drive volume and category growth, assuming execution is effective [Relation] cause [Effect] makes the products more appealing to distributors and retailers, and in turn makes them more likely to win shelf space",
    "gold": "[Cause] This level of brand-development expenditure creates a virtuous cycle for the larger players because higher spending on marketing, line extensions, and continuous investment in innovation can drive volume and category growth, assuming execution is effective [Relation] enable [Effect] makes the products more appealing to distributors and retailers, and in turn makes them more likely to win shelf space",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "There is therefore some concentration risk to a downturn in the Dutch property market, although the government backed guarantee of smaller mortgages does shield a meaningful portion of ING's mortgage book from credit risk.",
    "output": "[Cause] the government backed guarantee of smaller mortgages does shield a meaningful portion of ING's mortgage book from credit risk [Relation] cause [Effect] There is therefore some concentration risk to a downturn in the Dutch property market",
    "gold": "[Cause] the government backed guarantee of smaller mortgages [Relation] enable [Effect] does shield a meaningful portion of ING's mortgage book from credit risk",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "This is 200 basis points above the 9% rate of return we expect investors to demand of a diversified equity portfolio and reflects Fiat Chrysler's sensitivity to the economic cycle, financial leverage, and comparatively lower operating performance than some automotive manufacturers.",
    "output": "[Cause] Fiat Chrysler's sensitivity to the economic cycle, financial leverage, and comparatively lower operating performance than some automotive manufacturers [Relation] cause [Effect] This is 200 basis points above the 9% rate of return we expect investors to demand of a diversified equity portfolio",
    "gold": "[Cause]  Fiat Chrysler's sensitivity to the economic cycle, financial leverage, and comparatively lower operating performance than some automotive manufacturers [Relation] cause [Effect]  investors to demand of a diversified equity portfolio and",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "However, after hiring the firm for a short-term contract, the client firm may be more inclined to continue with the same firm for a longer contract.",
    "output": "[Cause] hiring the firm for a short-term contract [Relation] cause [Effect] the client firm may be more inclined to continue with the same firm for a longer contract",
    "gold": "[Cause]  hiring the firm for a short-term contract [Relation] enable [Effect] the client firm may be more inclined to continue with the same firm for a longer contract",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "To improve small and medium-size enterprise, or SME, ad revenue, Weibo is expanding into untapped verticals and faster-growing verticals such as Taobao merchants, online education and online gaming by restructuring its sales team since 2019.",
    "output": "[Cause] Weibo is expanding into untapped verticals and faster-growing verticals such as Taobao merchants, online education and online gaming by restructuring its sales team since 2019 [Relation] enable [Effect] improve small and medium-size enterprise, or SME, ad revenue",
    "gold": "[Cause]  improve small and medium-size enterprise [Relation] cause [Effect] , Weibo is expanding into untapped verticals and faster-growing verticals",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "A price increase of about 33% for maintenance contracts has been put in place as well, which should support revenue in the next several years.",
    "output": "[Cause] A price increase of about 33% for maintenance contracts has been put in place [Relation] enable [Effect] support revenue in the next several years",
    "gold": "[Cause] A price increase of about 33% for maintenance contracts has been put in place [Relation] cause [Effect] support revenue in the next several years",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Lastly, Merck's strong entrenchment in vaccines adds a layer of competitive protection from intellectual property and cost advantages, as the company's large-scale production enables a lower cost base, which can be more important in the vaccine market.",
    "output": "[Cause] the company's large-scale production enables a lower cost base [Relation] cause [Effect] Merck's strong entrenchment in vaccines adds a layer of competitive protection from intellectual property and cost advantages",
    "gold": "[Cause]  the company's large-scale production enables a lower cost base [Relation] cause [Effect] Merck's strong entrenchment in vaccines adds a layer of competitive protection from intellectual property and cost advantages",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The company has shifted to a lighter land acquisition strategy, which seeks to reduce the amount of capital tied up in land by purchasing smaller land parcels and relying more on land options to acquire land on a just-in-time basis.",
    "output": "[Cause] purchasing smaller land parcels and relying more on land options [Relation] enable [Effect] reduce the amount of capital tied up in land",
    "gold": "[Cause] company has shifted to a lighter land acquisition strategy [Relation] enable [Effect] seeks to reduce the amount of capital tied up in land",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "The company has shifted to a lighter land acquisition strategy, which seeks to reduce the amount of capital tied up in land by purchasing smaller land parcels and relying more on land options to acquire land on a just-in-time basis.",
    "output": "[Cause] purchasing smaller land parcels and relying more on land options to acquire land on a just-in-time basis [Relation] enable [Effect] reduce the amount of capital tied up in land",
    "gold": "[Cause] reduce the amount of capital tied up in land by purchasing smaller land parcels and relying more on land options [Relation] enable [Effect] acquire land on a just-in-time basis",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Extra Space also continues to expand into third-party management operations, which requires third-party operators to transform their facilities to aesthetically match Extra Space-owned facilities.",
    "output": "[Cause] Extra Space also continues to expand into third-party management operations [Relation] cause [Effect] requires third-party operators to transform their facilities to aesthetically match Extra Space-owned facilities",
    "gold": "[Cause] to aesthetically match Extra Space-owned facilities [Relation] enable [Effect]  requires third-party operators to transform their facilities",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We believe RingCentral benefits from robust switching costs, as evidenced by the growing importance of UCaaS in business communications (exacerbated by COVID-19), a strong recurring revenue stream, and solid user metrics.",
    "output": "[Cause] the growing importance of UCaaS in business communications (exacerbated by COVID-19), a strong recurring revenue stream, and solid user metrics [Relation] enable [Effect] RingCentral benefits from robust switching costs",
    "gold": "[Cause] the growing importance of UCaaS in business communications (exacerbated by COVID-19), a strong recurring revenue stream, and solid user metrics [Relation] cause [Effect]  RingCentral benefits from robust switching costs",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Premium, high-margin product features that mitigate risk and contain labor costs should foster meaningful economic profits.",
    "output": "[Cause] Premium, high-margin product features that mitigate risk and contain labor costs [Relation] enable [Effect] foster meaningful economic profits",
    "gold": "[Cause] Premium, high-margin product features that mitigate risk and contain labor costs [Relation] cause [Effect] foster meaningful economic profits",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The company's competitive position was bolstered over a decade ago with the discovery of significant oil and gas resources under a salt layer (presalt) in existing offshore concessions.",
    "output": "[Cause] the discovery of significant oil and gas resources under a salt layer (presalt) in existing offshore concessions [Relation] enable [Effect] The company's competitive position was bolstered over a decade ago",
    "gold": "[Cause] the discovery of significant oil and gas resources under a salt layer (presalt) in existing offshore concessions [Relation] enable [Effect] The company's competitive position was bolstered over a decade ago",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "If a pay-television distributor like Comcast or Dish Network wants to carry one of the four broadcast networks in a specific market, the distributor must retransmit the local station feed for that market.",
    "output": "[Cause] a pay-television distributor like Comcast or Dish Network wants to carry one of the four broadcast networks in a specific market [Relation] cause [Effect] the distributor must retransmit the local station feed for that market",
    "gold": "[Cause] the distributor must retransmit the local station feed for that market [Relation] enable [Effect] a pay-television distributor like Comcast or Dish Network wants to carry one of the four broadcast networks in a specific market",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Second, the shelter-in-place orders related to COVID-19 caused massive layoffs, and if those unemployed people lose their health insurance for a sustained period, the employer-based insurance rolls could fall more than expected.",
    "output": "[Cause] the shelter-in-place orders related to COVID-19 [Relation] cause [Effect] massive layoffs",
    "gold": "[Cause] the shelter-in-place orders related to COVID-19 [Relation] cause [Effect] massive layoffs",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Second, the shelter-in-place orders related to COVID-19 caused massive layoffs, and if those unemployed people lose their health insurance for a sustained period, the employer-based insurance rolls could fall more than expected.",
    "output": "[Cause] those unemployed people lose their health insurance for a sustained period [Relation] cause [Effect] the employer-based insurance rolls could fall more than expected",
    "gold": "[Cause] those unemployed people lose their health insurance for a sustained period [Relation] enable [Effect] the employer-based insurance rolls could fall more than expected",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Grameenphone/Telenor's profitability is ahead of the competition, and we attribute this performance to the firm's large size relative to its closest peers (Grameenphone's subscriber base is 50% larger than the second market player's subscriber base).",
    "output": "[Cause] the firm's large size relative to its closest peers [Relation] cause [Effect] Grameenphone/Telenor's profitability is ahead of the competition",
    "gold": "[Cause] the firm's large size relative to its closest peers [Relation] enable [Effect] Grameenphone/Telenor's profitability is ahead of the competition",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Perhaps the greatest risk is the scarcity of experienced analog talent within the industry, but ADI's inorganic expansion has enabled the firm to acquire talent and reduced this risk, in our view.",
    "output": "[Cause] ADI's inorganic expansion [Relation] enable [Effect] the firm to acquire talent and reduced this risk",
    "gold": "[Cause] ADI's inorganic expansion [Relation] enable [Effect] the firm to acquire talent and reduced this risk",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We expect Nokia's technology business, with its stellar operating margins, to expand moderately as a result of licensing agreements with major 5G phone manufacturers, a wider array of industries signing 5G licensing deals, and by profiting from Nokia-branded smartphone royalties.",
    "output": "[Cause] licensing agreements with major 5G phone manufacturers, a wider array of industries signing 5G licensing deals, and by profiting from Nokia-branded smartphone royalties [Relation] cause [Effect] Nokia's technology business, with its stellar operating margins, to expand moderately",
    "gold": "[Cause] licensing agreements with major 5G phone manufacturers, a wider array of industries signing 5G licensing deals, and by profiting from Nokia-branded smartphone royalties [Relation] enable [Effect]  Nokia's technology business, with its stellar operating margins, to expand moderately",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Overall, RingCentral's healthy user metrics with a strong predictable revenue stream, high retention, and increasing enterprise adoption point toward strong switching costs for the firm.",
    "output": "[Cause] RingCentral's healthy user metrics with a strong predictable revenue stream, high retention, and increasing enterprise adoption [Relation] enable [Effect] strong switching costs for the firm",
    "gold": "[Cause] Overall, RingCentral's healthy user metrics with a strong predictable revenue stream, high retention [Relation] enable [Effect]  increasing enterprise adoption point toward strong switching costs for the firm",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Each year, there is a certain price cap for vehicles to be included so that high-end and exotic sports cars are excluded.",
    "output": "[Cause] a certain price cap for vehicles to be included [Relation] cause [Effect] high-end and exotic sports cars are excluded",
    "gold": "[Cause]  high-end and exotic sports cars are excluded [Relation] cause [Effect]  there is a certain price cap for vehicles to be included",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Gas is likely to have an even longer life thanks to the attractiveness of its emission intensity relative to coal for power generation and the need to supplement intermittent renewable power.",
    "output": "[Cause] the attractiveness of its emission intensity relative to coal for power generation and the need to supplement intermittent renewable power [Relation] cause [Effect] Gas is likely to have an even longer life",
    "gold": "[Cause] the attractiveness of its emission intensity relative to coal for power generation and the need to supplement intermittent renewable power [Relation] cause [Effect] Gas is likely to have an even longer life",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Combining two very large firms with vastly different cultures, different networks, and different approaches to the network without alienating a significant number of customers could prove very challenging.",
    "output": "[Cause] Combining two very large firms with vastly different cultures, different networks, and different approaches to the network without alienating a significant number of customers [Relation] cause [Effect] prove very challenging",
    "gold": "[Cause] Combining two very large firms with vastly different cultures, different networks, and different approaches to the network without alienating a significant number of customers [Relation] enable [Effect] prove very challenging",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Overall, we think intangible asset and switching cost advantages associated with its highly specialized analytical instruments create the very stable market shares that Agilent enjoys even in these less-regulated end markets.",
    "output": "[Cause] intangible asset and switching cost advantages associated with its highly specialized analytical instruments [Relation] enable [Effect] create the very stable market shares that Agilent enjoys even in these less-regulated end markets",
    "gold": "[Cause] intangible asset and switching cost advantages associated with its highly specialized analytical instruments [Relation] enable [Effect] create the very stable market shares that Agilent enjoys even in these less-regulated end markets",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Oneok experienced more volume volatility than peers in 2020, as natural gas liquids volumes in the Rockies fell more than 20% sequentially in the second quarter of 2020 but recovered to well above pre-COVID-19 levels by the end of the year.",
    "output": "[Cause] natural gas liquids volumes in the Rockies fell more than 20% sequentially in the second quarter of 2020 [Relation] cause [Effect] Oneok experienced more volume volatility than peers in 2020",
    "gold": "[Cause] natural gas liquids volumes in the Rockies fell more than 20% sequentially in the second quarter of 2020 [Relation] cause [Effect] Oneok experienced more volume volatility than peers in 2020",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In a recession, investors may not want to hold the stock of a firm whose story will not play out until next decade, or Tesla could fail to raise capital when it needs it.",
    "output": "[Cause] Tesla could fail to raise capital when it needs it [Relation] cause [Effect] In a recession, investors may not want to hold the stock of a firm whose story will not play out until next decade",
    "gold": "[Cause] a firm whose story will not play out until next decade [Relation] cause [Effect]  investors may not want to hold the stock",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "In a recession, investors may not want to hold the stock of a firm whose story will not play out until next decade, or Tesla could fail to raise capital when it needs it.",
    "output": "[Cause] Tesla could fail to raise capital when it needs it [Relation] cause [Effect] In a recession",
    "gold": "[Cause] recession [Relation] cause [Effect] Tesla could fail to raise capital when it needs it",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "A cost-effective battery storage and renewable energy combination providing similar around-the-clock capacity benefits as geothermal poses a long-term risk for Ormat.",
    "output": "[Cause] geothermal poses a long-term risk for Ormat [Relation] cause [Effect] A cost-effective battery storage and renewable energy combination providing similar around-the-clock capacity benefits",
    "gold": "[Cause] geothermal poses a long-term risk for Ormat [Relation] cause [Effect] A cost-effective battery storage and renewable energy combination providing similar around-the-clock capacity benefits",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The lower infrastructure investment, driving a reduction in our estimated annual earnings growth, was the primary reason for the fair value estimate cut.",
    "output": "[Cause] The lower infrastructure investment [Relation] cause [Effect] a reduction in our estimated annual earnings growth",
    "gold": "[Cause] The lower infrastructure investment [Relation] cause [Effect] the fair value estimate cut",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "The lower infrastructure investment, driving a reduction in our estimated annual earnings growth, was the primary reason for the fair value estimate cut.",
    "output": "[Cause] The lower infrastructure investment [Relation] cause [Effect] a reduction in our estimated annual earnings growth",
    "gold": "[Cause] The lower infrastructure investment [Relation] cause [Effect] a reduction in our estimated annual earnings growth",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "ARM-based chips (the primary competition for x86-based chips) have proliferated mobile computing, including nearly every smartphone and tablet, but have had very little success in displacing x86 in PCs and server (until very recently) due to the costs of rewriting software and lack of sufficient performance.",
    "output": "[Cause] the costs of rewriting software and lack of sufficient performance [Relation] cause [Effect] have had very little success in displacing x86 in PCs and server",
    "gold": "[Cause] the costs of rewriting software and lack of sufficient performance [Relation] prevent [Effect] success in displacing x86 in PCs and server (until very recently)",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "New York's rate decoupling framework, originally for the impact of weather and energy efficiency, is shielding New York utilities from the decline in electricity demand related to COVID-19.",
    "output": "[Cause] New York's rate decoupling framework [Relation] enable [Effect] shielding New York utilities from the decline in electricity demand related to COVID-19",
    "gold": "[Cause] New York's rate decoupling framework [Relation] enable [Effect] shielding New York utilities from the decline in electricity demand related to COVID-19",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The company's comprehensive data set of de-identified patient records and script data enhances its ability to attract and retain healthcare customers throughout the life cycle of a drug product.",
    "output": "[Cause] The company's comprehensive data set of de-identified patient records and script data [Relation] enable [Effect] enhances its ability to attract and retain healthcare customers throughout the life cycle of a drug product",
    "gold": "[Cause] The company's comprehensive data set of de-identified patient records and script data [Relation] enable [Effect] enhances its ability to attract and retain healthcare customers throughout the life cycle of a drug product",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "A high cost of failure in some of Parker's end markets could translate to thousands of dollars per minute of downtime if an offshore seal fails in the oil and gas industry, at best.",
    "output": "[Cause] A high cost of failure in some of Parker's end markets [Relation] cause [Effect] thousands of dollars per minute of downtime",
    "gold": "[Cause] an offshore seal fails in the oil and gas industry, at best [Relation] cause [Effect] A high cost of failure in some of Parker's end markets could translate to thousands of dollars per minute of downtime",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We think switching costs in the Canadian system are driven by a tightly regulated oligopolistic market structure that limits excess competition, stabilizing product pricing and giving customers less incentive to switch banks.",
    "output": "[Cause] a tightly regulated oligopolistic market structure [Relation] cause [Effect] switching costs in the Canadian system",
    "gold": "[Cause]  a tightly regulated oligopolistic market structure [Relation] enable [Effect] switching costs in the Canadian system",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We think switching costs in the Canadian system are driven by a tightly regulated oligopolistic market structure that limits excess competition, stabilizing product pricing and giving customers less incentive to switch banks.",
    "output": "[Cause] switching costs in the Canadian system [Relation] cause [Effect] stabilizing product pricing and giving customers less incentive to switch banks",
    "gold": "[Cause]  a tightly regulated oligopolistic market structure [Relation] cause [Effect] limits excess competition, stabilizing product pricing and giving customers less incentive to switch banks",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "As the contract structure essentially grants a monopoly on the product once the product is granted, we also see some modest switching costs stemming from a lack of viable alternatives, but this is partially mitigated by the government's right to license patents to third parties.",
    "output": "[Cause] the contract structure essentially grants a monopoly on the product once the product is granted [Relation] cause [Effect] some modest switching costs stemming from a lack of viable alternatives",
    "gold": "[Cause] a lack of viable alternatives [Relation] cause [Effect] some modest switching costs",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "As the contract structure essentially grants a monopoly on the product once the product is granted, we also see some modest switching costs stemming from a lack of viable alternatives, but this is partially mitigated by the government's right to license patents to third parties.",
    "output": "[Cause] the government's right to license patents to third parties [Relation] enable [Effect] some modest switching costs stemming from a lack of viable alternatives",
    "gold": "[Cause] once the product is granted [Relation] cause [Effect] the contract structure essentially grants a monopoly on the product",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "In an effort to become an as-a-service company, solutions like HPE GreenLake give enterprises a pay-per-usage business model for on-premises and private clouds.",
    "output": "[Cause] solutions like HPE GreenLake [Relation] enable [Effect] enterprises a pay-per-usage business model for on-premises and private clouds",
    "gold": "[Cause] solutions like HPE GreenLake give enterprises a pay-per-usage business model for on-premises and private clouds [Relation] enable [Effect]  become an as-a-service company",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Given the limited need for capital in retailing, we would expect average ROICs to surpass our WACC unless the housing market faces another downturn (the firm had mid-single-digit ROICs in 2008-09).",
    "output": "[Cause] the limited need for capital in retailing [Relation] cause [Effect] average ROICs to surpass our WACC",
    "gold": "[Cause] the limited need for capital in retailing [Relation] cause [Effect] average ROICs to surpass our WACC",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Switching devices would require regulatory recertification to ensure the new device meets standards for the specific application, causing generic manufacturers to almost exclusively use the same dispensing devices.",
    "output": "[Cause] Switching devices would require regulatory recertification to ensure the new device meets standards for the specific application [Relation] cause [Effect] generic manufacturers to almost exclusively use the same dispensing devices",
    "gold": "[Cause] Switching devices would require regulatory recertification [Relation] enable [Effect] ensure the new device meets standards for the specific application",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Steel Dynamics vertically integrated by acquiring metal recycler OmniSource in 2007 for a total cost just above $1 billion.",
    "output": "[Cause] Steel Dynamics vertically integrated by acquiring metal recycler OmniSource in 2007 [Relation] enable [Effect] a total cost just above $1 billion",
    "gold": "[Cause]  acquiring metal recycler OmniSource [Relation] enable [Effect] Steel Dynamics vertically integrated",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "For instance, the firm manufactures blowers used to purify water at wastewater treatment facilities, and a product failure could result in the facility being shut down.",
    "output": "[Cause] a product failure [Relation] cause [Effect] the facility being shut down",
    "gold": "[Cause] a product failure [Relation] cause [Effect] the facility being shut down",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In fiscal 2021, we expect total revenue to be up 31% thanks to strength in Mac and iPad sales related to work- and learning-from-home trends and the 5G iPhone 12 launch.",
    "output": "[Cause] strength in Mac and iPad sales related to work- and learning-from-home trends and the 5G iPhone 12 launch [Relation] cause [Effect] total revenue to be up 31%",
    "gold": "[Cause] strength in Mac and iPad sales related to work- and learning-from-home trends and the 5G iPhone 12 launch [Relation] enable [Effect] total revenue to be up 31%",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We assign Garmin a medium uncertainty rating, given the stakes involved when competing in the same space as Apple and Samsung in the smartwatch market.",
    "output": "[Cause] the stakes involved when competing in the same space as Apple and Samsung in the smartwatch market [Relation] cause [Effect] We assign Garmin a medium uncertainty rating",
    "gold": "[Cause] the stakes involved when competing in the same space as Apple and Samsung in the smartwatch market [Relation] cause [Effect] We assign Garmin a medium uncertainty rating",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "This substantial growth is driven by continued shifts of workloads to a cloud environment, prompting the use case to which Snowflake caters.",
    "output": "[Cause] continued shifts of workloads to a cloud environment [Relation] cause [Effect] This substantial growth",
    "gold": "[Cause]  continued shifts of workloads to a cloud environment [Relation] enable [Effect] This substantial growth",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We believe the firm may eventually seek to divest at least the residential portion of lighting as competitors like GE, Eaton, Philips, Cree, and others have done or are planning to do in the near future.",
    "output": "[Cause] competitors like GE, Eaton, Philips, Cree, and others have done or are planning to do in the near future [Relation] cause [Effect] the firm may eventually seek to divest at least the residential portion of lighting",
    "gold": "[Cause] competitors like GE, Eaton, Philips, Cree, and others have done or are planning to do in the near future [Relation] enable [Effect]  the firm may eventually seek to divest at least the residential portion of lighting",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Arguably, L-3 was an ideal partner for a merger of equals because L-3 operated as a holding company and there are quite a few potential efficiencies from consolidating the firm into a more integrated firm.",
    "output": "[Cause] L-3 operated as a holding company and there are quite a few potential efficiencies from consolidating the firm into a more integrated firm [Relation] cause [Effect] L-3 was an ideal partner for a merger of equals",
    "gold": "[Cause] L-3 operated as a holding company and there are quite a few potential efficiencies from consolidating the firm into a more integrated firm [Relation] cause [Effect] L-3 was an ideal partner for a merger of equals",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We think that Sensata's ability to innovate allows it to win new sockets and staves off the threat of commoditization, while Sensata's close design relationships and reliability in mission critical applications create sticky customer relationships.",
    "output": "[Cause] Sensata's ability to innovate [Relation] enable [Effect] win new sockets and staves off the threat of commoditization",
    "gold": "[Cause] Sensata's close design relationships and reliability in mission critical applications [Relation] cause [Effect] sticky customer relationships",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We think that Sensata's ability to innovate allows it to win new sockets and staves off the threat of commoditization, while Sensata's close design relationships and reliability in mission critical applications create sticky customer relationships.",
    "output": "[Cause] Sensata's close design relationships and reliability in mission critical applications create sticky customer relationships [Relation] enable [Effect] win new sockets and staves off the threat of commoditization",
    "gold": "[Cause]  Sensata's ability to innovate [Relation] cause [Effect] it to win new sockets and staves off the threat of commoditization",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "The outbreak adds uncertainty to near-term estimates, with the prospect of economic normalization in 2021 as vaccination rates rise, assuming resistant strains do not emerge.",
    "output": "[Cause] The outbreak [Relation] cause [Effect] uncertainty to near-term estimates",
    "gold": "[Cause] The outbreak [Relation] cause [Effect] uncertainty to near-term estimates",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The outbreak adds uncertainty to near-term estimates, with the prospect of economic normalization in 2021 as vaccination rates rise, assuming resistant strains do not emerge.",
    "output": "[Cause] The outbreak adds uncertainty to near-term estimates [Relation] cause [Effect] the prospect of economic normalization in 2021",
    "gold": "[Cause] vaccination rates rise [Relation] enable [Effect] the prospect of economic normalization in 2021",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "The firm utilizes technological innovation to improve the user experience in nearly all its Google offerings, while making the sale and purchase of ads efficient for publishers and advertisers.",
    "output": "[Cause] The firm utilizes technological innovation [Relation] enable [Effect] improve the user experience in nearly all its Google offerings",
    "gold": "[Cause]  technological innovation [Relation] enable [Effect]  making the sale and purchase of ads efficient for publishers and advertisers",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Coal-fired power plants used to bear the brunt of volatile coal prices and centrally regulated power prices, resulting in an inability to pass through rising costs, and thus increased uncertainty.",
    "output": "[Cause] Coal-fired power plants used to bear the brunt of volatile coal prices and centrally regulated power prices [Relation] cause [Effect] an inability to pass through rising costs",
    "gold": "[Cause] Coal-fired power plants used to bear the brunt of volatile coal prices and centrally regulated power prices [Relation] cause [Effect] an inability to pass through rising costs",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Coal-fired power plants used to bear the brunt of volatile coal prices and centrally regulated power prices, resulting in an inability to pass through rising costs, and thus increased uncertainty.",
    "output": "[Cause] an inability to pass through rising costs [Relation] cause [Effect] increased uncertainty",
    "gold": "[Cause] an inability to pass through rising costs [Relation] cause [Effect] increased uncertainty",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Near-term risks center on the pandemic, with fiscal 2021 featuring a gradual normalization as vaccination rates rise.",
    "output": "[Cause] vaccination rates rise [Relation] cause [Effect] Near-term risks center on the pandemic, with fiscal 2021 featuring a gradual normalization",
    "gold": "[Cause] Near-term risks center on the pandemic, with fiscal 2021 featuring a gradual normalization [Relation] cause [Effect] vaccination rates rise",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "As contracts for defense hardware essentially grant a monopoly on the product once the product is granted, we also see some modest switching costs stemming from a lack of viable alternatives, but this is partially mitigated by the government's right to license patents to third parties.",
    "output": "[Cause] contracts for defense hardware essentially grant a monopoly on the product once the product is granted [Relation] cause [Effect] some modest switching costs stemming from a lack of viable alternatives",
    "gold": "[Cause] contracts for defense hardware essentially grant a monopoly on the product once the product is granted [Relation] cause [Effect]  some modest switching costs stemming from a lack of viable alternatives",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "As contracts for defense hardware essentially grant a monopoly on the product once the product is granted, we also see some modest switching costs stemming from a lack of viable alternatives, but this is partially mitigated by the government's right to license patents to third parties.",
    "output": "[Cause] the government's right to license patents to third parties [Relation] enable [Effect] some modest switching costs stemming from a lack of viable alternatives",
    "gold": "[Cause] the government's right to license patents to third parties [Relation] cause [Effect] this is partially mitigated",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "The difficulty of adjusting procurement quantities generally insulates shipbuilders from cuts in the defense budget, though it also generally means that the contractor cannot fully capture defense budget increases.",
    "output": "[Cause] The difficulty of adjusting procurement quantities [Relation] prevent [Effect] shipbuilders from cuts in the defense budget",
    "gold": "[Cause] shipbuilders from cuts in the defense budget [Relation] cause [Effect] The difficulty of adjusting procurement quantities",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Driving this growth are beneficial trends in the semiconductor industry, including rise of in-house custom chip design (as Moore's Law slows) as well as proliferation of key technologies such as 5G, cloud computing, AI/ML, Internet of Things, and autonomous vehicles.",
    "output": "[Cause] beneficial trends in the semiconductor industry, including rise of in-house custom chip design (as Moore's Law slows) as well as proliferation of key technologies such as 5G, cloud computing, AI/ML, Internet of Things, and autonomous vehicles [Relation] cause [Effect] Driving this growth",
    "gold": "[Cause] rise of in-house custom chip design (as Moore's Law slows) as well as proliferation of key technologies [Relation] enable [Effect] this growth are beneficial trends in the semiconductor industry",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Now, with scores of Gap and Banana Republic stores slated to be closed, we think the brands are permanently diminished.",
    "output": "[Cause] scores of Gap and Banana Republic stores slated to be closed [Relation] cause [Effect] the brands are permanently diminished",
    "gold": "[Cause] scores of Gap and Banana Republic stores slated to be closed [Relation] cause [Effect]  the brands are permanently diminished",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Omnipod is 'stuck' directly on the body for three days at a time, the waterproof design means the patient can bathe or swim without any worry or disconnecting from the pump.",
    "output": "[Cause] the waterproof design [Relation] enable [Effect] the patient can bathe or swim without any worry or disconnecting from the pump",
    "gold": "[Cause]  the waterproof design [Relation] cause [Effect]  the patient can bathe or swim without any worry or disconnecting from the pump",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Following solid fourth-quarter results and our increased confidence XPO will see benefits in its transportation division from the upcoming logistics segment spin-off (more focused resource allocation, for example), we raised our revenue and margin forecasts and boosted our DCF-derived fair value to $77 from $69.",
    "output": "[Cause] Following solid fourth-quarter results and our increased confidence XPO will see benefits in its transportation division from the upcoming logistics segment spin-off [Relation] cause [Effect] we raised our revenue and margin forecasts and boosted our DCF-derived fair value to $77 from $69.",
    "gold": "[Cause] solid fourth-quarter results and our increased confidence XPO will see benefits in its transportation division from the upcoming logistics segment spin-off (more focused resource allocation, for example) [Relation] enable [Effect] we raised our revenue and margin forecasts and boosted our DCF-derived fair value to $77 from $69",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Margins have dipped recently related to spending in the payments segments, and the impact of the coronavirus pandemic will likely add some pressure in the near term.",
    "output": "[Cause] the impact of the coronavirus pandemic [Relation] cause [Effect] add some pressure in the near term",
    "gold": "[Cause] the impact of the coronavirus pandemic [Relation] prevent [Effect] Margins",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "That is, would-be rational competitors have little incentive to enter because massive upfront infrastructure costs and the potential for creating excess capacity amid limited demand would preclude economic profit and destroy value.",
    "output": "[Cause] massive upfront infrastructure costs and the potential for creating excess capacity amid limited demand would preclude economic profit and destroy value [Relation] cause [Effect] would-be rational competitors have little incentive to enter",
    "gold": "[Cause] massive upfront infrastructure costs and the potential for creating excess capacity amid limited demand would preclude economic profit and destroy value [Relation] cause [Effect] would-be rational competitors have little incentive to enter",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Revenue fell 1% in 2020 on fewer carloads, falling fuel surcharges, and mix headwinds, but core pricing remained positive and top-line declines moderated throughout the second half.",
    "output": "[Cause] fewer carloads, falling fuel surcharges, and mix headwinds [Relation] cause [Effect] Revenue fell 1% in 2020",
    "gold": "[Cause] core pricing remained positive [Relation] enable [Effect] top-line declines moderated throughout the second half",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We have decreased the impact of Grand Theft Auto VI in the launch and post-launch years due to a more diverse game portfolio and the growth in recurrent spending which should help cushion the impact post the launch year.",
    "output": "[Cause] a more diverse game portfolio and the growth in recurrent spending [Relation] cause [Effect] decreased the impact of Grand Theft Auto VI in the launch and post-launch years",
    "gold": "[Cause] a more diverse game portfolio and the growth in recurrent spending [Relation] cause [Effect]  decreased the impact of Grand Theft Auto VI in the launch and post-launch years",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We have decreased the impact of Grand Theft Auto VI in the launch and post-launch years due to a more diverse game portfolio and the growth in recurrent spending which should help cushion the impact post the launch year.",
    "output": "[Cause] a more diverse game portfolio and the growth in recurrent spending [Relation] cause [Effect] decreased the impact of Grand Theft Auto VI in the launch and post-launch years",
    "gold": "[Cause] a more diverse game portfolio and the growth in recurrent spending [Relation] enable [Effect] cushion the impact post the launch year",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Thus, while China Telecom continues to lose fixed-line telephone subscribers because of mobile substitution, the growth in its broadband base limits those declines.",
    "output": "[Cause] mobile substitution [Relation] cause [Effect] China Telecom continues to lose fixed-line telephone subscribers",
    "gold": "[Cause] mobile substitution [Relation] cause [Effect] China Telecom continues to lose fixed-line telephone subscribers",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Thus, while China Telecom continues to lose fixed-line telephone subscribers because of mobile substitution, the growth in its broadband base limits those declines.",
    "output": "[Cause] the growth in its broadband base [Relation] prevent [Effect] those declines",
    "gold": "[Cause] the growth in its broadband base [Relation] prevent [Effect] those declines",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "There is risk that policymakers will move retail customers away from gas heating, but we think that's unlikely in the near future, given the colder climates where Eversource operates.",
    "output": "[Cause] the colder climates where Eversource operates [Relation] cause [Effect] that's unlikely in the near future",
    "gold": "[Cause]  the colder climates where Eversource operates [Relation] prevent [Effect] There is risk that policymakers will move retail customers away from gas heating",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Given the nature of its software businesses, Roper also benefits from negative working capital thanks to large amounts of deferred revenue that it can continuously reinvest at incrementally higher returns on capital, albeit Ametek's balance sheet reveals it has also begun to benefit from customer advances in 2018.",
    "output": "[Cause] the nature of its software businesses [Relation] cause [Effect] Roper also benefits from negative working capital thanks to large amounts of deferred revenue that it can continuously reinvest at incrementally higher returns on capital",
    "gold": "[Cause] large amounts of deferred revenue that it can continuously reinvest at incrementally higher returns on capital [Relation] cause [Effect] Roper also benefits from negative working capital",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Given the importance of acquisitions to the organization's expansion strategy, we expect them to remain a key capital allocation priority.",
    "output": "[Cause] the importance of acquisitions to the organization's expansion strategy [Relation] cause [Effect] we expect them to remain a key capital allocation priority",
    "gold": "[Cause] the importance of acquisitions to the organization's expansion strategy [Relation] cause [Effect] we expect them to remain a key capital allocation priority",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "As the group of claimant associations grew, in March 2016 Ageas announced a significantly larger settlement in the proceedings with all five claimants organisations.",
    "output": "[Cause] the group of claimant associations grew [Relation] cause [Effect] Ageas announced a significantly larger settlement in the proceedings with all five claimants organisations",
    "gold": "[Cause]  the group of claimant associations grew [Relation] cause [Effect] Ageas announced a significantly larger settlement in the proceedings with all five claimants organisations",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Further, we forecast a low-single-digit operating margin in 2021, down from 3.2% last year, but we see a path to low-teens operating margins over the next five years through take-rate monetization opportunities (payments and logistics) and improved operating leverage.",
    "output": "[Cause] take-rate monetization opportunities (payments and logistics) and improved operating leverage [Relation] enable [Effect] low-teens operating margins over the next five years",
    "gold": "[Cause] take-rate monetization opportunities (payments and logistics) and improved operating leverage [Relation] enable [Effect] low-teens operating margins over the next five years",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In 2020, Exelon reached a deferred prosecution agreement at its ComEd subsidiary helping to resolve a Justice Department investigation of its lobbying practices.",
    "output": "[Cause] Exelon reached a deferred prosecution agreement at its ComEd subsidiary [Relation] enable [Effect] resolve a Justice Department investigation of its lobbying practices",
    "gold": "[Cause] helping to resolve a Justice Department investigation of its lobbying practices [Relation] cause [Effect] Exelon reached a deferred prosecution agreement at its ComEd subsidiary",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "FedEx is also the largest domestic less-than-truckload carrier, which helps forge sticky relationships with retail and industrial shippers on the package side.",
    "output": "[Cause] FedEx is also the largest domestic less-than-truckload carrier [Relation] enable [Effect] helps forge sticky relationships with retail and industrial shippers on the package side",
    "gold": "[Cause] FedEx is also the largest domestic less-than-truckload carrier [Relation] enable [Effect] helps forge sticky relationships with retail and industrial shippers on the package side",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The damage to the pump franchise could have been even worse if not for pandemic-driven demand, but we think BD will still end up ceding some market share in this area even if it returns the pump to the market in late 2021-early 2022.",
    "output": "[Cause] pandemic-driven demand [Relation] cause [Effect] The damage to the pump franchise could have been even worse",
    "gold": "[Cause] pandemic-driven demand [Relation] prevent [Effect] The damage to the pump franchise could have been even worse",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "That said, coal runs in unit trains hauling exclusively coal (often using customers' cars), thus we susepct the rail can continue to adjust its train and crew starts to match demand conditions.",
    "output": "[Cause] coal runs in unit trains hauling exclusively coal (often using customers' cars) [Relation] cause [Effect] we susepct the rail can continue to adjust its train and crew starts to match demand conditions",
    "gold": "[Cause]  coal runs in unit trains hauling exclusively coal (often using customers' cars) [Relation] cause [Effect]  we susepct the rail can continue to adjust its train and crew starts to match demand conditions",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Seals are essential to the functioning of centrifugal pumps, given that 69% of pump failures are caused by malfunctioning seals.",
    "output": "[Cause] 69% of pump failures are caused by malfunctioning seals [Relation] cause [Effect] Seals are essential to the functioning of centrifugal pumps",
    "gold": "[Cause] 69% of pump failures are caused by malfunctioning seals [Relation] cause [Effect] Seals are essential to the functioning of centrifugal pumps",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We increased our fair value estimate 12% to $74 per share due to our upward-revised sales growth and operating margin assumptions.",
    "output": "[Cause] our upward-revised sales growth and operating margin assumptions [Relation] cause [Effect] We increased our fair value estimate 12% to $74 per share",
    "gold": "[Cause] our upward-revised sales growth and operating margin assumptions [Relation] cause [Effect] We increased our fair value estimate 12% to $74 per share",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The complex, multinational nature of late-stage trials limits competition to a few of the largest CROs that have the necessary global infrastructure, including Syneos.",
    "output": "[Cause] The complex, multinational nature of late-stage trials [Relation] prevent [Effect] competition to a few of the largest CROs that have the necessary global infrastructure, including Syneos",
    "gold": "[Cause] The complex, multinational nature of late-stage trials [Relation] cause [Effect] limits competition to a few of the largest CROs",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "However, the waste industry is still modestly cyclical and recycled commodity and oil prices (the firm's E&P waste business is affected by oil price fluctuations) can be volatile.",
    "output": "[Cause] oil price fluctuations [Relation] cause [Effect] oil prices",
    "gold": "[Cause] the waste industry is still modestly cyclical and recycled commodity and oil prices (the firm's E&P waste business is affected by oil price fluctuations) [Relation] cause [Effect]  volatile",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "However, the waste industry is still modestly cyclical and recycled commodity and oil prices (the firm's E&P waste business is affected by oil price fluctuations) can be volatile.",
    "output": "[Cause] oil price fluctuations [Relation] cause [Effect] oil prices",
    "gold": "[Cause] the waste industry is still modestly cyclical and recycled commodity and oil prices (the firm's E&P waste business is affected by oil price fluctuations) [Relation] cause [Effect]  volatile",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Regardless, the gap between Livent's unit costs and those of Chilean producers Albemarle and SQM remains modest due to large royalty rates on lithium production required by the Chilean government.",
    "output": "[Cause] large royalty rates on lithium production required by the Chilean government [Relation] cause [Effect] the gap between Livent's unit costs and those of Chilean producers Albemarle and SQM remains modest",
    "gold": "[Cause] large royalty rates on lithium production required by the Chilean government [Relation] cause [Effect] the gap between Livent's unit costs and those of Chilean producers Albemarle and SQM remains modest",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The size and geographical breadth of Capital One's loans also diversifies them across multiple regions and FICO scores. This reduces the bank's dependence on the economic conditions of any particular region in the country and allows it to accumulate a diverse array of lending data.",
    "output": "[Cause] The size and geographical breadth of Capital One's loans also diversifies them across multiple regions and FICO scores [Relation] enable [Effect] reduces the bank's dependence on the economic conditions of any particular region in the country and allows it to accumulate a diverse array of lending data",
    "gold": "[Cause] The size and geographical breadth of Capital One's loans also diversifies them across multiple regions and FICO scores [Relation] cause [Effect] reduces the bank's dependence on the economic conditions of any particular region in the country and allows it to accumulate a diverse array of lending data",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "This ability for users to customize their Splunk products and generate personalized analytics and reports is likely to attract new customers for Splunk, which in turn will attract new developers as they can reach a wider audience.",
    "output": "[Cause] attract new customers for Splunk [Relation] enable [Effect] attract new developers",
    "gold": "[Cause] they can reach a wider audience [Relation] cause [Effect]  in turn will attract new developers",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Given the importance of telecom services to economic growth, politicians and regulators often take aim at dominant carriers to drive network investment and foster technology adoption.",
    "output": "[Cause] the importance of telecom services to economic growth [Relation] cause [Effect] politicians and regulators often take aim at dominant carriers to drive network investment and foster technology adoption",
    "gold": "[Cause]  the importance of telecom services to economic growth [Relation] cause [Effect]  politicians and regulators often take aim at dominant carriers to drive network investment and foster technology adoption",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "However, we anticipate that R&D will remain elevated as Lyft is likely to invest in new ventures, resulting in slight declines in R&D as a percentage of net revenue.",
    "output": "[Cause] Lyft is likely to invest in new ventures [Relation] cause [Effect] R&D will remain elevated",
    "gold": "[Cause] Lyft is likely to invest in new ventures [Relation] cause [Effect] R&D will remain elevated",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "However, we anticipate that R&D will remain elevated as Lyft is likely to invest in new ventures, resulting in slight declines in R&D as a percentage of net revenue.",
    "output": "[Cause] Lyft is likely to invest in new ventures [Relation] cause [Effect] slight declines in R&D as a percentage of net revenue",
    "gold": "[Cause] R&D will remain elevated [Relation] cause [Effect] slight declines in R&D as a percentage of net revenue",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Additionally, if that molecule is successfully marketed, the revenue stream would likely continue through the life cycle of that product.",
    "output": "[Cause] molecule is successfully marketed [Relation] enable [Effect] the revenue stream would likely continue through the life cycle of that product",
    "gold": "[Cause] molecule is successfully marketed [Relation] cause [Effect] the revenue stream would likely continue through the life cycle of that product",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We think the dock access is important, given geographic constraints, and it allowed the firm to export 34 million barrels of crude oil in 2016 following the lifting of the export ban in December 2015, as well as another 17 million barrels of processed condensate.",
    "output": "[Cause] geographic constraints [Relation] cause [Effect] the dock access is important",
    "gold": "[Cause] geographic constraints [Relation] cause [Effect] the dock access is important",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Also, its resorts operate at all hours and days of the year, using energy and supplies, which if not properly managed could discourage some visitation.",
    "output": "[Cause] not properly managed [Relation] prevent [Effect] some visitation",
    "gold": "[Cause] not properly managed [Relation] prevent [Effect] some visitation",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "However, if every interaction of every user required retrieval of information from an origin server, it would lead to higher latency for those that are not physically nearby and would make it more likely for websites to become overwhelmed, leading to slow and frustrating user experiences, including website crashes.",
    "output": "[Cause] higher latency for those that are not physically nearby and would make it more likely for websites to become overwhelmed [Relation] cause [Effect] slow and frustrating user experiences, including website crashes",
    "gold": "[Cause] higher latency for those that are not physically nearby and would make it more likely for websites to become overwhelmed [Relation] cause [Effect]  slow and frustrating user experiences, including website crashes",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "False positives can also slowdown the flow of commerce, which is yet another reason Ametek's radiation detectors can save taxpayer money.",
    "output": "[Cause] False positives [Relation] cause [Effect] slowdown the flow of commerce",
    "gold": "[Cause] Ametek's radiation detectors can save taxpayer money [Relation] enable [Effect] False positives can also slowdown the flow of commerce",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "With limited experience in enterprise sales, and a small arsenal of use-case-specific solutions, Twilio's success with enterprise adoption remains to be seen.",
    "output": "[Cause] limited experience in enterprise sales, and a small arsenal of use-case-specific solutions [Relation] cause [Effect] Twilio's success with enterprise adoption remains to be seen",
    "gold": "[Cause]  limited experience in enterprise sales, and a small arsenal of use-case-specific solutions [Relation] cause [Effect] Twilio's success with enterprise adoption remains to be seen",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "As Komatsu focuses on construction and mining equipment, global economic activity and the profitability of companies in these two industries affect the demand for its equipment.",
    "output": "[Cause] global economic activity and the profitability of companies in these two industries [Relation] cause [Effect] affect the demand for its equipment",
    "gold": "[Cause] Komatsu focuses on construction and mining equipment [Relation] cause [Effect] global economic activity and the profitability of companies in these two industries affect the demand for its equipment",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Yet, because most uranium is transacted through long-term contracts negotiated years in advance, a disconnect between realized and spot prices makes it appear that lower prices are sufficient.",
    "output": "[Cause] a disconnect between realized and spot prices [Relation] cause [Effect] lower prices are sufficient",
    "gold": "[Cause]  a disconnect between realized and spot prices [Relation] cause [Effect] lower prices are sufficient",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Approximately one third of this increase is driven by the strong performance in 2020, where adoption of pets under pandemic conditions buoyed demand.",
    "output": "[Cause] adoption of pets under pandemic conditions buoyed demand [Relation] enable [Effect] Approximately one third of this increase is driven by the strong performance in 2020",
    "gold": "[Cause] Approximately one third of this increase is driven by the strong performance in 2020 [Relation] cause [Effect]  adoption of pets under pandemic conditions buoyed demand",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "While we believe that Myriad will be able to hold off its competition in this segment, we remain concerned about pricing, as reimbursement rates for various codes have been tackled by PAMA in the past two years.",
    "output": "[Cause] reimbursement rates for various codes have been tackled by PAMA in the past two years [Relation] cause [Effect] we remain concerned about pricing",
    "gold": "[Cause]  reimbursement rates for various codes have been tackled by PAMA in the past two years [Relation] cause [Effect]  we remain concerned about pricing",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The difference between our premerger valuation of EUR 18 and our current EUR 25 fair value estimates is primarily attributable to the increase in average margin during our Stage I forecast as COVID-19-affected 2020 rolled off while operating leverage improves through our explicit forecast period.",
    "output": "[Cause] COVID-19-affected 2020 rolled off while operating leverage improves through our explicit forecast period [Relation] cause [Effect] The difference between our premerger valuation of EUR 18 and our current EUR 25 fair value estimates is primarily attributable to the increase in average margin during our Stage I forecast",
    "gold": "[Cause] the increase in average margin during our Stage I forecast [Relation] cause [Effect]  difference between our premerger valuation of EUR 18 and our current EUR 25 fair value estimates",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Any delay in migrations, in addition to stunting RingCentral's top-line growth, could affect profitability, as RingCentral might overinvest for growth opportunities that do not materialize for some years.",
    "output": "[Cause] Any delay in migrations [Relation] cause [Effect] stunting RingCentral's top-line growth",
    "gold": "[Cause] Any delay in migrations [Relation] cause [Effect]  affect profitability",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Any delay in migrations, in addition to stunting RingCentral's top-line growth, could affect profitability, as RingCentral might overinvest for growth opportunities that do not materialize for some years.",
    "output": "[Cause] Any delay in migrations [Relation] cause [Effect] affect profitability",
    "gold": "[Cause] RingCentral might overinvest for growth opportunities that do not materialize for some years [Relation] cause [Effect] Any delay in migrations, in addition to stunting RingCentral's top-line growth, could affect profitability",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Any delay in migrations, in addition to stunting RingCentral's top-line growth, could affect profitability, as RingCentral might overinvest for growth opportunities that do not materialize for some years.",
    "output": "[Cause] Any delay in migrations [Relation] cause [Effect] affect profitability",
    "gold": "[Cause] stunting RingCentral's top-line growth [Relation] cause [Effect]  affect profitability",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "China's suspension of group visa programs and re-establishment of the Individual Visit Scheme in 2020 due to the COVID-19 pandemic also saw a sharp fall in visitations to Macao.",
    "output": "[Cause] the COVID-19 pandemic [Relation] cause [Effect] China's suspension of group visa programs and re-establishment of the Individual Visit Scheme in 2020",
    "gold": "[Cause] the COVID-19 pandemic [Relation] cause [Effect] China's suspension of group visa programs and re-establishment of the Individual Visit Scheme in 2020",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We note that such risk is less than the one associated with Safari, as Google is dependent on ad revenue.",
    "output": "[Cause] Google is dependent on ad revenue [Relation] cause [Effect] such risk is less than the one associated with Safari",
    "gold": "[Cause] Google is dependent on ad revenue [Relation] cause [Effect] such risk is less than the one associated with Safari",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "As a result of the ruling and the increased politicization of American society, ad revenue has begun to spike in even-numbered years, with larger growth in presidential election years.",
    "output": "[Cause] the ruling and the increased politicization of American society [Relation] cause [Effect] ad revenue has begun to spike in even-numbered years, with larger growth in presidential election years",
    "gold": "[Cause] the ruling and the increased politicization of American society [Relation] cause [Effect] ad revenue has begun to spike in even-numbered years, with larger growth in presidential election years",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Increased competitive pressures drove higher research and development and marketing efforts as operating margin declined to 48% in 2018 versus 56% in 2012.",
    "output": "[Cause] Increased competitive pressures [Relation] cause [Effect] higher research and development and marketing efforts",
    "gold": "[Cause] Increased competitive pressures [Relation] cause [Effect]  higher research and development and marketing efforts",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "These master leases generally prevent tenants from dropping poorer-performing properties, as lease renewals are \"\"\"\"all or none,\"\"\"\" and promotes strong partnerships between Welltower and its various operators, making triple-net business relatively sticky.",
    "output": "[Cause] lease renewals are \"\"\"\"all or none,\"\"\"\" and promotes strong partnerships between Welltower and its various operators [Relation] cause [Effect] These master leases generally prevent tenants from dropping poorer-performing properties",
    "gold": "[Cause] tenants from dropping poorer-performing properties [Relation] prevent [Effect] renewals are \"\"\"\"all or none",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "These master leases generally prevent tenants from dropping poorer-performing properties, as lease renewals are \"\"\"\"all or none,\"\"\"\" and promotes strong partnerships between Welltower and its various operators, making triple-net business relatively sticky.",
    "output": "[Cause] lease renewals are \"\"\"\"all or none,\"\"\"\" and promotes strong partnerships between Welltower and its various operators [Relation] cause [Effect] making triple-net business relatively sticky",
    "gold": "[Cause] tenants from dropping poorer-performing properties [Relation] prevent [Effect] promotes strong partnerships between Welltower and its various operators",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "With market penetration this deep there is little room for competing programs, and the business is protected by strong network effects.",
    "output": "[Cause] market penetration this deep [Relation] cause [Effect] little room for competing programs",
    "gold": "[Cause] arket penetration this deep [Relation] cause [Effect]  little room for competing programs |  business is protected by strong network effects.",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "However, this transaction still needs to gain regulatory approval, which could require the carriers to agree to conditions that offset the benefits of consolidation.",
    "output": "[Cause] this transaction still needs to gain regulatory approval [Relation] cause [Effect] require the carriers to agree to conditions that offset the benefits of consolidation",
    "gold": "[Cause] this transaction still needs to gain regulatory approval [Relation] enable [Effect] require the carriers to agree to conditions that offset the benefits of consolidation",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We're also modeling 230 basis points of adjusted net operating margin (EBIT/net revenue) gains, to about 9.7% on leverage from net revenue growth and rising truckload transaction automation, despite a likely uptick in certain costs like travel and entertainment as the economy reopens.",
    "output": "[Cause] the economy reopens [Relation] cause [Effect] a likely uptick in certain costs like travel and entertainment",
    "gold": "[Cause] net revenue growth and rising truckload transaction automation [Relation] cause [Effect]  230 basis points of adjusted net operating margin (EBIT/net revenue) gains, to about 9.7% on leverage",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "The strength, in our view, will be mitigated by continued declines in voice and more moderate TV subscriber growth, as consumers continue to have alternative options to traditional linear TV.",
    "output": "[Cause] consumers continue to have alternative options to traditional linear TV [Relation] cause [Effect] The strength, in our view, will be mitigated by continued declines in voice and more moderate TV subscriber growth",
    "gold": "[Cause] consumers continue to have alternative options to traditional linear TV [Relation] cause [Effect] The strength, in our view, will be mitigated by continued declines in voice and more moderate TV subscriber growth",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Marriott has added several new brands since 2007, renovated a meaningful percentage of core Marriott and Courtyard hotels in the past few years, and expanded technology integration and loyalty-member presence; these actions have led to share gains and a strong positioning with millennial travelers.",
    "output": "[Cause] Marriott has added several new brands since 2007, renovated a meaningful percentage of core Marriott and Courtyard hotels in the past few years, and expanded technology integration and loyalty-member presence [Relation] cause [Effect] share gains and a strong positioning with millennial travelers",
    "gold": "[Cause] Marriott has added several new brands since 2007, renovated a meaningful percentage of core Marriott and Courtyard hotels in the past few years, and expanded technology integration and loyalty-member presence [Relation] enable [Effect] share gains and a strong positioning with millennial travelers",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "As Mattel winds down at least some of its manufacturing, ROICs should increase, with the most capital-intensive portion of the business eliminated.",
    "output": "[Cause] Mattel winds down at least some of its manufacturing [Relation] cause [Effect] ROICs should increase",
    "gold": "[Cause] Mattel winds down at least some of its manufacturing [Relation] enable [Effect] ROICs should increase",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "As Mattel winds down at least some of its manufacturing, ROICs should increase, with the most capital-intensive portion of the business eliminated.",
    "output": "[Cause] Mattel winds down at least some of its manufacturing [Relation] cause [Effect] ROICs should increase",
    "gold": "[Cause] the most capital-intensive portion of the business eliminated [Relation] enable [Effect] ROICs should increase",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Conversely, we see demand for insecticides, which made up roughly one fourth of crop protection sales in 2019, falling over the long term due to an increase in GMO seeds.",
    "output": "[Cause] an increase in GMO seeds [Relation] cause [Effect] demand for insecticides, which made up roughly one fourth of crop protection sales in 2019 falling over the long term",
    "gold": "[Cause] Conversely, we see demand for insecticides [Relation] cause [Effect] which made up roughly one fourth of crop protection sales in 2019, falling over the long term due to an increase in GMO seeds",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Moreover, it does not appear that increased outlet sales have had a discernible effect on pricing, as Adidas' overall gross margin improved 440 basis points in the period to 52.0% from 47.6%.",
    "output": "[Cause] Adidas' overall gross margin improved 440 basis points in the period to 52.0% from 47.6% [Relation] cause [Effect] it does not appear that increased outlet sales have had a discernible effect on pricing",
    "gold": "[Cause] Adidas' overall gross margin improved 440 basis points in the period to 52.0% from 47.6% [Relation] cause [Effect] it does not appear that increased outlet sales have had a discernible effect on pricing",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Having 30% of its assets under management dedicated to alternative strategies and 16% committed to multi-asset strategies and other products, the firm is not as heavily exposed to the impact passive investing has had on active equities.",
    "output": "[Cause] Having 30% of its assets under management dedicated to alternative strategies and 16% committed to multi-asset strategies and other products [Relation] cause [Effect] the firm is not as heavily exposed to the impact passive investing has had on active equities",
    "gold": "[Cause] Having 30% of its assets under management dedicated to alternative strategies and 16% committed to multi-asset strategies and other products [Relation] enable [Effect] the firm is not as heavily exposed to the impact passive investing has had on active equities",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Although we estimate this exit, combined with the expected divestiture of natural gas distribution utilities in Oklahoma and Arkansas, will pressure earnings, it provides capital for annual utility rate base growth that we estimate will be near 10% over 2020-25.",
    "output": "[Cause] this exit, combined with the expected divestiture of natural gas distribution utilities in Oklahoma and Arkansas [Relation] cause [Effect] pressure earnings",
    "gold": "[Cause] it provides capital for annual utility rate base growth [Relation] enable [Effect] we estimate will be near 10% over 2020-25",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We expect the network to retain its spot at the top of the cable news pyramid, allowing Fox to increase the affiliate fees while maintaining carriage at both traditional and OTT distributors.",
    "output": "[Cause] the network to retain its spot at the top of the cable news pyramid [Relation] enable [Effect] Fox to increase the affiliate fees while maintaining carriage at both traditional and OTT distributors",
    "gold": "[Cause] the network to retain its spot at the top of the cable news pyramid [Relation] enable [Effect] Fox to increase the affiliate fees while maintaining carriage at both traditional and OTT distributors",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "NIMs were also affected by higher payment rates, which reduce late fees and the portion of Synchrony's receivable base that is accruing interest.",
    "output": "[Cause] NIMs were also affected by higher payment rates [Relation] cause [Effect] reduce late fees and the portion of Synchrony's receivable base that is accruing interest",
    "gold": "[Cause] NIMs were also affected by higher payment rates [Relation] cause [Effect] reduce late fees and the portion of Synchrony's receivable base that is accruing interest",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "While Lululemon cannot match the marketing budgets of the biggest players, its more than $4 billion in annual sales allows it to spend more on marketing than the smaller competitors.",
    "output": "[Cause] its more than $4 billion in annual sales [Relation] enable [Effect] it to spend more on marketing than the smaller competitors",
    "gold": "[Cause] its more than $4 billion in annual sales [Relation] enable [Effect] it to spend more on marketing than the smaller competitors",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We believe the Kontoor spin-off and sale of some of VF's work brands will improve the firm's margins as the remaining brands have more pricing power than those that have been eliminated.",
    "output": "[Cause] the remaining brands have more pricing power than those that have been eliminated [Relation] cause [Effect] the Kontoor spin-off and sale of some of VF's work brands will improve the firm's margins",
    "gold": "[Cause] the remaining brands have more pricing power than those that have been eliminated [Relation] cause [Effect]  the Kontoor spin-off and sale of some of VF's work brands will improve the firm's margins",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Larger industrial distributors also operate scalable distribution networks and centralized order fulfillment centers, which allows these companies to cost-effectively serve their customer base, including large customers that require consistent product availability and service quality across North America.",
    "output": "[Cause] Larger industrial distributors also operate scalable distribution networks and centralized order fulfillment centers [Relation] enable [Effect] these companies to cost-effectively serve their customer base, including large customers that require consistent product availability and service quality across North America",
    "gold": "[Cause] Larger industrial distributors also operate scalable distribution networks and centralized order fulfillment centers [Relation] enable [Effect] allows these companies to cost-effectively serve their customer base",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "As a large-cap consumer staples multinational, RB is a relatively stable operator, but after recent operational mishaps, we now believe the firm carries an above-average risk of a black swan event that could materially affect the financial performance of the business.",
    "output": "[Cause] recent operational mishaps [Relation] cause [Effect] the firm carries an above-average risk of a black swan event that could materially affect the financial performance of the business",
    "gold": "[Cause] the firm carries an above-average risk of a black swan event [Relation] cause [Effect] materially affect the financial performance of the business",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Poor environmental, social, and governance, or ESG, risk management may lead to direct and indirect costs related to data leakage problems, as the company's business is shifting from being hardware-centric to providing its content online.",
    "output": "[Cause] the company's business is shifting from being hardware-centric to providing its content online [Relation] cause [Effect] Poor environmental, social, and governance, or ESG, risk management may lead to direct and indirect costs related to data leakage problems",
    "gold": "[Cause] the company's business is shifting from being hardware-centric to providing its content online [Relation] cause [Effect] Poor environmental, social, and governance, or ESG, risk management may lead to direct and indirect costs related to data leakage problems",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In 2012, the company opened its first factory in Mexico, aiding distribution in the Southwest and engaging labor at competitive rates.",
    "output": "[Cause] the company opened its first factory in Mexico [Relation] enable [Effect] aiding distribution in the Southwest and engaging labor at competitive rates",
    "gold": "[Cause] the company opened its first factory in Mexico [Relation] enable [Effect] aiding distribution in the Southwest and engaging labor at competitive rates",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In the third quarter of 2020, Twilio reported a strong 137% DBNE, which is indicative of the utility developers are deriving from the firm's platform.",
    "output": "[Cause] the utility developers are deriving from the firm's platform [Relation] cause [Effect] Twilio reported a strong 137% DBNE",
    "gold": "[Cause] In the third quarter of 2020, Twilio reported a strong 137% DBNE [Relation] enable [Effect] the utility developers are deriving from the firm's platform",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Through gross margin expansion and revenue outpacing operating expenditures, we model operating margins expanding into the mid-20% range by 2025 versus 19% in 2020.",
    "output": "[Cause] gross margin expansion and revenue outpacing operating expenditures [Relation] cause [Effect] operating margins expanding into the mid-20% range by 2025 versus 19% in 2020",
    "gold": "[Cause] gross margin expansion and revenue outpacing operating expenditures [Relation] cause [Effect] operating margins expanding into the mid-20% range by 2025 versus 19% in 2020",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Its massive and overpriced invested capital base makes it unlikely that the firm will generate economic returns in excess of its cost of capital, even if it can get costs lower.",
    "output": "[Cause] Its massive and overpriced invested capital base [Relation] prevent [Effect] the firm will generate economic returns in excess of its cost of capital",
    "gold": "[Cause] Its massive and overpriced invested capital base [Relation] prevent [Effect] the firm will generate economic returns in excess of its cost of capital",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Finally, the end customer could risk production disruption or delays accompanying a modified product design. As a result, Sensata's sensors are likely to remain designed in for a product's entire lifecycle鈥攔anging from five to seven years for cars, all the way up to three decades for a commercial airplane.",
    "output": "[Cause] the end customer could risk production disruption or delays accompanying a modified product design [Relation] cause [Effect] Sensata's sensors are likely to remain designed in for a product's entire lifecycleanging from five to seven years for cars, all the way up to three decades for a commercial airplane",
    "gold": "[Cause] the end customer could risk production disruption or delays accompanying a modified product design [Relation] cause [Effect] Sensata's sensors are likely to remain designed in for a product's entire lifecycle鈥攔anging from five to seven years for cars, all the way up to three decades for a commercial airplane",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "The global food-service industry has come under pressure as several markets have restricted dine-in service to curb the spread of the coronavirus.",
    "output": "[Cause] several markets have restricted dine-in service to curb the spread of the coronavirus [Relation] cause [Effect] The global food-service industry has come under pressure",
    "gold": "[Cause] several markets have restricted dine-in service to curb the spread of the coronavirus [Relation] cause [Effect] The global food-service industry has come under pressure",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We expect the combination of operating leverage stemming from volume growth and an improving product mix to drive material margin expansion.",
    "output": "[Cause] volume growth and an improving product mix [Relation] cause [Effect] the combination of operating leverage",
    "gold": "[Cause] the combination of operating leverage stemming from volume growth and an improving product mix [Relation] enable [Effect] material margin expansion",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We expect the combination of operating leverage stemming from volume growth and an improving product mix to drive material margin expansion.",
    "output": "[Cause] volume growth and an improving product mix [Relation] cause [Effect] drive material margin expansion",
    "gold": "[Cause] volume growth [Relation] cause [Effect] operating leverage",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Furthermore, KLA must maintain its large research and development budget to serve its customers effectively, with R&D as a percentage of sales in the midteens.",
    "output": "[Cause] maintain its large research and development budget [Relation] enable [Effect] serve its customers effectively",
    "gold": "[Cause] to serve its customers effectively [Relation] cause [Effect] KLA must maintain its large research and development budget",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "While the customer penetration rates remain low, with a single-digit level of the global population ever having cruised, we believe low switching costs could hinder the growth rate of cruisers, decreasing our confidence that Royal is poised to generate ROICs above our WACC estimate over an extended period.",
    "output": "[Cause] low switching costs [Relation] prevent [Effect] the growth rate of cruisers",
    "gold": "[Cause]  low switching costs [Relation] prevent [Effect] the growth rate of cruisers",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Investments in renewable diesel can deliver high rates of return given growing governmental blending mandates and financial support through blending credits.",
    "output": "[Cause] Investments in renewable diesel [Relation] enable [Effect] deliver high rates of return given growing governmental blending mandates and financial support through blending credits",
    "gold": "[Cause] growing governmental blending mandates and financial support [Relation] cause [Effect] Investments in renewable diesel can deliver high rates of return",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Against a weak macroeconomic backdrop, its not uncommon to see financial strain manifest in consumers using less of the essential fare that Kimberly sells.",
    "output": "[Cause] Against a weak macroeconomic backdrop [Relation] cause [Effect] financial strain manifest in consumers using less of the essential fare that Kimberly sells",
    "gold": "[Cause] a weak macroeconomic [Relation] cause [Effect] consumers using less of the essential fare that Kimberly sells.",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Further, we think customer churn occurs largely at the low end simply because their size is less sustainable, and that retention in midsize and large users is higher still and near the elite category of software retention.",
    "output": "[Cause] their size is less sustainable [Relation] cause [Effect] customer churn occurs largely at the low end",
    "gold": "[Cause] size is less sustainable, and that retention in midsize and large users is higher still [Relation] cause [Effect]  customer churn occurs largely at the low end",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "The spread of Imperial's return on invested capital, or ROIC, over its weighted average cost of capital, or WACC, is narrower than that of PMI because of the less efficient logistics assets.",
    "output": "[Cause] the less efficient logistics assets [Relation] cause [Effect] The spread of Imperial's return on invested capital, or ROIC, over its weighted average cost of capital, or WACC, is narrower than that of PMI",
    "gold": "[Cause] the less efficient logistics assets [Relation] cause [Effect] The spread of Imperial's return on invested capital, or ROIC, over its weighted average cost of capital, or WACC, is narrower than that of PMI",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In our view, as more individuals remain at home due to lockdowns and quarantines, they will spend more time on Facebook and Instagram not only engaging with other users, but also seeking additional information regarding many COVID-19-relevant topics.",
    "output": "[Cause] lockdowns and quarantines [Relation] cause [Effect] more individuals remain at home",
    "gold": "[Cause] lockdowns and quarantines [Relation] cause [Effect] more individuals remain at home",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "While a new entrant could build a facility that is sized for demand, even if it could take 25% share immediately, startup costs (building a facility, hiring workers, acquiring proper equipment) would probably prevent the endeavor from being economically sensible, as payoff periods would be extensive.",
    "output": "[Cause] startup costs (building a facility, hiring workers, acquiring proper equipment) [Relation] prevent [Effect] the endeavor from being economically sensible",
    "gold": "[Cause] payoff periods would be extensive [Relation] cause [Effect]  startup costs (building a facility, hiring workers, acquiring proper equipment) would probably prevent the endeavor from being economically sensible",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Customers, which include the world's largest mining companies, are willing to pay a premium for Sandvik's record of reliability as well as the regular availability of spare parts and services resulting in a lower total cost of ownership.",
    "output": "[Cause] Customers, which include the world's largest mining companies, are willing to pay a premium for Sandvik's record of reliability as well as the regular availability of spare parts and services [Relation] cause [Effect] a lower total cost of ownership",
    "gold": "[Cause] Customers, which include the world's largest mining companies, are willing to pay a premium for Sandvik's record of reliability as well as the regular availability of spare parts and services [Relation] cause [Effect] a lower total cost of ownership",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Developing a global footprint like Autoliv's--with production facilities in 27 countries--would require a huge capital investment, a substantial barrier to entry for potential competitors, particularly given the challenges for auto suppliers' to consistently turn an economic profit.",
    "output": "[Cause] the challenges for auto suppliers' to consistently turn an economic profit [Relation] cause [Effect] Developing a global footprint like Autoliv's--with production facilities in 27 countries--would require a huge capital investment, a substantial barrier to entry for potential competitors",
    "gold": "[Cause] the challenges for auto suppliers' to consistently turn an economic profit [Relation] cause [Effect] a substantial barrier to entry for potential competitors, particularly",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "A decrease in outsourcing or R&D spending is unlikely in the near term, in our opinion, but all CROs could be affected by these risks if biopharma funding is constrained, if there are changes in the drug-approval regulatory landscape, or if the biopharma industry faces other macroeconomic headwinds.",
    "output": "[Cause] biopharma funding is constrained, if there are changes in the drug-approval regulatory landscape, or if the biopharma industry faces other macroeconomic headwinds [Relation] cause [Effect] all CROs could be affected by these risks",
    "gold": "[Cause] if biopharma funding is constrained, if there are changes in the drug-approval regulatory landscape, or if the biopharma industry faces other macroeconomic headwinds [Relation] cause [Effect] A decrease in outsourcing or R&D spending is unlikely in the near term",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "In the near term, Cerner's federal business is the primary driver of growth, and any meaningful interruption to implementation could impact the company's top line.",
    "output": "[Cause] any meaningful interruption to implementation [Relation] cause [Effect] impact the company's top line",
    "gold": "[Cause]  Cerner's federal business is the primary driver of growth [Relation] cause [Effect] meaningful interruption to implementation could impact the company's top line",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "In stage two of our cash flow model we assume growth of 3% per year for 10 years underpinned by continued growth in aftermarket revenue as the fleet ages.",
    "output": "[Cause] the fleet ages [Relation] cause [Effect] growth of 3% per year for 10 years underpinned by continued growth in aftermarket revenue",
    "gold": "[Cause]  the fleet ages [Relation] cause [Effect] growth of 3% per year for 10 years underpinned by continued growth in aftermarket revenue",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Ultimately, the need to navigate a byzantine Mexican bureaucracy at the local, provincial, and perhaps even national levels, serve as a bulwark against hypothetical new entrants, in our view.",
    "output": "[Cause] the need to navigate a byzantine Mexican bureaucracy at the local, provincial, and perhaps even national levels [Relation] enable [Effect] serve as a bulwark against hypothetical new entrants",
    "gold": "[Cause]  navigate a byzantine Mexican bureaucracy at the local, provincial, and perhaps even national levels, serve [Relation] enable [Effect] a bulwark against hypothetical new entrants, in our view",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Toyota believes hydrogen fuel cell vehicles rather than battery electric vehicles will be the way the industry moves long-term, but that will be a costly mistake if they are wrong and the firm needs to catch-up with consumer demand for BEVs.",
    "output": "[Cause] they are wrong and the firm needs to catch-up with consumer demand for BEVs [Relation] cause [Effect] Toyota believes hydrogen fuel cell vehicles rather than battery electric vehicles will be the way the industry moves long-term, but that will be a costly mistake",
    "gold": "[Cause] Toyota believes hydrogen fuel cell vehicles rather than battery electric vehicles will be the way the industry moves long-term [Relation] cause [Effect] but that will be a costly mistake if they are wrong and the firm needs to catch-up with consumer demand for BEVs",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Initially, this was a virtuous circle, as developers wrote software for the large installed base of DOS-based PCs, and users quickly coalesced around DOS because it became the most useful.",
    "output": "[Cause] developers wrote software for the large installed base of DOS-based PCs [Relation] cause [Effect] this was a virtuous circle",
    "gold": "[Cause] it became the most useful [Relation] cause [Effect] users quickly coalesced around DOS",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Initially, this was a virtuous circle, as developers wrote software for the large installed base of DOS-based PCs, and users quickly coalesced around DOS because it became the most useful.",
    "output": "[Cause] developers wrote software for the large installed base of DOS-based PCs [Relation] cause [Effect] users quickly coalesced around DOS",
    "gold": "[Cause] developers wrote software for the large installed base of DOS-based PCs, and users quickly coalesced around DOS [Relation] cause [Effect] this was a virtuous circle",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "After 79% and 24% room supply growth in Las Vegas during the 1990s and the first decade of this millennium, room supply has not increased through 2020, helping sustain Las Vegas Strip industry occupancy at healthy levels of around 90%.",
    "output": "[Cause] room supply has not increased through 2020 [Relation] enable [Effect] helping sustain Las Vegas Strip industry occupancy at healthy levels of around 90%",
    "gold": "[Cause] room supply has not increased through 2020 [Relation] enable [Effect] helping sustain Las Vegas Strip industry occupancy at healthy levels of around 90%",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Although the firm is a dominant provider of frozen potatoes (over 30% share between branded and private label), we hold that the category represents a low-single-digit percentage of overall grocery sales and is not material enough to elevate Lamb Weston to strategic partner status.",
    "output": "[Cause] the category represents a low-single-digit percentage of overall grocery sales [Relation] prevent [Effect] elevate Lamb Weston to strategic partner status",
    "gold": "[Cause] the category represents a low-single-digit percentage of overall grocery sales [Relation] prevent [Effect] elevate Lamb Weston to strategic partner status",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "For either model, we think Honeywell benefits from switching costs given its equipment's strong integration into customers' airframes and landing systems.",
    "output": "[Cause] its equipment's strong integration into customers' airframes and landing systems [Relation] cause [Effect] Honeywell benefits from switching costs",
    "gold": "[Cause] its equipment's strong integration into customers' airframes and landing systems [Relation] enable [Effect] Honeywell benefits from switching costs",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In addition, the nascent SaaS-based products for cloud and mobile security may not require the established track record and relationships that benefit Check Point for networking security.",
    "output": "[Cause] the nascent SaaS-based products for cloud and mobile security [Relation] prevent [Effect] require the established track record and relationships that benefit Check Point for networking security",
    "gold": "[Cause]  track record and relationships [Relation] enable [Effect] benefit Check Point for networking security",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "However, the industrial segment will fuel operating margin expansion, as the firm's footprint consolidation initiatives in this sector help expand its adjusted operating margin from 14% in fiscal 2019 before the COVID-19 pandemic (14% in fiscal 2020 during the pandemic) to 19% at the end of our forecast.",
    "output": "[Cause] the firm's footprint consolidation initiatives in this sector help expand its adjusted operating margin from 14% in fiscal 2019 before the COVID-19 pandemic (14% in fiscal 2020 during the pandemic) to 19% at the end of our forecast [Relation] cause [Effect] the industrial segment will fuel operating margin expansion",
    "gold": "[Cause] industrial segment will fuel operating margin expansion [Relation] cause [Effect] the firm's footprint consolidation initiatives in this sector help expand",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Verizon has deployed Fios, its fiber-optic cable network, to about three fourths of this territory, eliminating the gap in network capabilities versus cable companies like Comcast.",
    "output": "[Cause] Verizon has deployed Fios, its fiber-optic cable network, to about three fourths of this territory [Relation] enable [Effect] eliminating the gap in network capabilities versus cable companies like Comcast",
    "gold": "[Cause] Verizon has deployed Fios, its fiber-optic cable network, to about three fourths of this territory [Relation] enable [Effect] eliminating the gap in network capabilities versus cable companies like Comcast",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We anticipate price/mix gains will be roughly flat, as typical rate pricing increases, premium line extensions, and higher convenience channel mix are offset by the deluge of deep-pocketed competition in the sparkling category, which should result in greater promotional depth and frequency.",
    "output": "[Cause] typical rate pricing increases, premium line extensions, and higher convenience channel mix are offset by the deluge of deep-pocketed competition in the sparkling category [Relation] cause [Effect] greater promotional depth and frequency",
    "gold": "[Cause] typical rate pricing increases, premium line extensions, and higher convenience channel mix are offset by the deluge of deep-pocketed competition in the sparkling category [Relation] cause [Effect] greater promotional depth and frequency",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Drugs typically have a 20-year patent life span, which begins at discovery. This means that clinical trials consume a significant portion of what could otherwise be patent-protected profits before generic drugs come to market.",
    "output": "[Cause] Drugs typically have a 20-year patent life span, which begins at discovery [Relation] cause [Effect] clinical trials consume a significant portion of what could otherwise be patent-protected profits before generic drugs come to market",
    "gold": "[Cause] Drugs typically have a 20-year patent life span, which begins at discovery [Relation] cause [Effect] clinical trials consume a significant portion of what could otherwise be patent-protected profits before generic drugs come to market",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Additionally, Vertex holds significant patient share as nearly 50% of patients worldwide are currently treated for cystic fibrosis using its medicines.",
    "output": "[Cause] nearly 50% of patients worldwide are currently treated for cystic fibrosis using its medicines [Relation] cause [Effect] Vertex holds significant patient share",
    "gold": "[Cause] nearly 50% of patients worldwide are currently treated for cystic fibrosis using its medicines [Relation] cause [Effect] Vertex holds significant patient share",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The latest technological advances in this field allow chipmakers to pursue Moore's law and continually increase the number of transistors on the same area of silicon.",
    "output": "[Cause] The latest technological advances in this field [Relation] enable [Effect] chipmakers to pursue Moore's law and continually increase the number of transistors on the same area of silicon",
    "gold": "[Cause] The latest technological advances in this field [Relation] enable [Effect] chipmakers to pursue Moore's law and continually increase the number of transistors on the same area of silicon",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Mattel has historically had some of the most popular toys in the industry, which could lead to better point-of-sale results as product lines are rightsized, stabilizing brand equity volatility.",
    "output": "[Cause] Mattel has historically had some of the most popular toys in the industry [Relation] cause [Effect] better point-of-sale results",
    "gold": "[Cause] product lines are rightsized, stabilizing brand equity volatility [Relation] enable [Effect] better point-of-sale results",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Mattel has historically had some of the most popular toys in the industry, which could lead to better point-of-sale results as product lines are rightsized, stabilizing brand equity volatility.",
    "output": "[Cause] product lines are rightsized [Relation] cause [Effect] better point-of-sale results",
    "gold": "[Cause] Mattel has historically had some of the most popular toys in the industry [Relation] cause [Effect] better point-of-sale results",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Moreover, relative to other specialists, an orthopedic surgeon's skill and experience can play an outsize role in the clinical outcome for the patient. These factors leave surgeons reluctant to train and master multiple instrumentation systems, especially if procedure volume is too low to maintain high surgical facility with more than one system.",
    "output": "[Cause] relative to other specialists, an orthopedic surgeon's skill and experience can play an outsize role in the clinical outcome for the patient [Relation] cause [Effect] surgeons reluctant to train and master multiple instrumentation systems, especially if procedure volume is too low to maintain high surgical facility with more than one system",
    "gold": "[Cause] relative to other specialists, an orthopedic surgeon's skill and experience can play an outsize role in the clinical outcome for the patient [Relation] cause [Effect]  surgeons reluctant to train and master multiple instrumentation systems, especially if procedure volume is too low to maintain high surgical facility with more than one system",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "While plans to still enter the middleweight market in 2021 exist, we surmise it will occur in a much more methodical way, derisking rapid average selling price declines.",
    "output": "[Cause] it will occur in a much more methodical way [Relation] cause [Effect] derisking rapid average selling price declines",
    "gold": "[Cause] it will occur in a much more methodical way [Relation] enable [Effect] derisking rapid average selling price declines",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Roche will continue to rely on innovation and key acquisitions to maintain growth, but we think the firm's diversification (a global pharmaceutical business with multiple blockbuster therapies and a strong diagnostics division) and continuing innovation keep uncertainty low.",
    "output": "[Cause] innovation and key acquisitions [Relation] enable [Effect] maintain growth",
    "gold": "[Cause] innovation and key acquisitions [Relation] enable [Effect] maintain growth",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Roche will continue to rely on innovation and key acquisitions to maintain growth, but we think the firm's diversification (a global pharmaceutical business with multiple blockbuster therapies and a strong diagnostics division) and continuing innovation keep uncertainty low.",
    "output": "[Cause] the firm's diversification (a global pharmaceutical business with multiple blockbuster therapies and a strong diagnostics division) and continuing innovation [Relation] enable [Effect] uncertainty low",
    "gold": "[Cause] the firm's diversification (a global pharmaceutical business with multiple blockbuster therapies and a strong diagnostics division) and continuing innovation [Relation] enable [Effect] uncertainty low",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "However, SAP is phasing out its support of its on-premises ERP software such that by 2030 all of its ERP customers will need to shift to a cloud solution.",
    "output": "[Cause] SAP is phasing out its support of its on-premises ERP software [Relation] cause [Effect] by 2030 all of its ERP customers will need to shift to a cloud solution",
    "gold": "[Cause] SAP is phasing out its support of its on-premises ERP software [Relation] cause [Effect] by 2030 all of its ERP customers will need to shift to a cloud solution",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In addition, we would expect high rates to change the mix of housing starts to favor multifamily or lower-square-footage single-family builds, reducing total panel and siding demand for any given level of housing starts.",
    "output": "[Cause] high rates to change the mix of housing starts [Relation] enable [Effect] favor multifamily or lower-square-footage single-family builds",
    "gold": "[Cause] high rates to change the mix of housing starts [Relation] enable [Effect] favor multifamily or lower-square-footage single-family builds",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In addition, we would expect high rates to change the mix of housing starts to favor multifamily or lower-square-footage single-family builds, reducing total panel and siding demand for any given level of housing starts.",
    "output": "[Cause] high rates to change the mix of housing starts [Relation] cause [Effect] reducing total panel and siding demand for any given level of housing starts",
    "gold": "[Cause] high rates to change the mix of housing starts [Relation] enable [Effect] reducing total panel and siding demand for any given level of housing starts",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Moreover, with largely separate management teams, we believe the right focus is in place at the highest levels and, in conjunction with massive financial resources, should allow each business to navigate the competitive landscape.",
    "output": "[Cause] largely separate management teams [Relation] cause [Effect] the right focus is in place at the highest levels and, in conjunction with massive financial resources, should allow each business to navigate the competitive landscape",
    "gold": "[Cause] massive financial resources [Relation] enable [Effect] allow each business to navigate the competitive landscape",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Although the firm isn't immune to freight downturns, its variable-cost model helps shield profitability during periods of lackluster demand, as evidenced by a long history of above-average profitability.",
    "output": "[Cause] its variable-cost model [Relation] enable [Effect] shield profitability during periods of lackluster demand",
    "gold": "[Cause]  its variable-cost model [Relation] enable [Effect]  shield profitability during periods of lackluster demand",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Much of the firm's standalone products are low-price, higher volume products, and are thus more reactive to changes in the funding environment.",
    "output": "[Cause] Much of the firm's standalone products are low-price, higher volume products [Relation] cause [Effect] more reactive to changes in the funding environment",
    "gold": "[Cause] Much of the firm's standalone products are low-price, higher volume products [Relation] cause [Effect]  more reactive to changes in the funding environment",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "As with all regulated utilities we cover, Ameren faces the risk of an inflationary environment that would raise borrowing costs and make other investments more attractive for income-seeking investors.",
    "output": "[Cause] Ameren faces the risk of an inflationary environment [Relation] cause [Effect] raise borrowing costs",
    "gold": "[Cause] Ameren faces the risk of an inflationary environment [Relation] cause [Effect] raise borrowing costs",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "With the completion of the Art on theMart digital exhibition in 2018, the building is set to continue to benefit from its great location and iconic status within the Chicago office market.",
    "output": "[Cause] the completion of the Art on theMart digital exhibition in 2018 [Relation] enable [Effect] the building is set to continue to benefit from its great location and iconic status within the Chicago office market",
    "gold": "[Cause] the completion of the Art on theMart digital exhibition in 2018 [Relation] cause [Effect] the building is set to continue to benefit from its great location and iconic status within the Chicago office market",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "However, we see EVs becoming a greater proportion of auto sales, growing to 30% by 2030, up from 3% in 2020, which will expand the market as EVs rapidly take share from internal combustion engine vehicles.",
    "output": "[Cause] EVs rapidly take share from internal combustion engine vehicles [Relation] cause [Effect] expand the market",
    "gold": "[Cause] EVs rapidly take share from internal combustion engine vehicles [Relation] enable [Effect] EVs becoming a greater proportion of auto sales, growing to 30% by 2030, up from 3% in 2020",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "The bank is also large enough to be subject to the Federal Reserve's annual stress tests, as well as a host of other regulatory requirements (liquidity coverage ratio and supplementary leverage ratio, for example) and we don't see any massive regulatory relief coming for the large money center banks.",
    "output": "[Cause] The bank is also large enough to be subject to the Federal Reserve's annual stress tests, as well as a host of other regulatory requirements [Relation] cause [Effect] we don't see any massive regulatory relief coming for the large money center banks",
    "gold": "[Cause] The bank is also large enough to be subject to the Federal Reserve's annual stress tests, as well as a host of other regulatory requirements [Relation] cause [Effect] we don't see any massive regulatory relief coming for the large money center banks",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We see some positive trends in the wireless market in Brazil, with average revenue per customer starting to move higher as the carriers have tried to exercise discipline.",
    "output": "[Cause] the carriers have tried to exercise discipline [Relation] cause [Effect] average revenue per customer starting to move higher",
    "gold": "[Cause] the carriers have tried to exercise discipline [Relation] cause [Effect]  average revenue per customer starting to move higher",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Regardless, the company's patent portfolio could become more impactful in the years to come thanks to the development of patented chelated minerals through the integration of the recent Albion International acquisition.",
    "output": "[Cause] the development of patented chelated minerals through the integration of the recent Albion International acquisition [Relation] cause [Effect] the company's patent portfolio could become more impactful in the years to come",
    "gold": "[Cause] the development of patented chelated minerals through the integration of the recent Albion International acquisition [Relation] cause [Effect] the company's patent portfolio could become more impactful in the years to come",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "By focusing its portfolio on the West Coast, the company operates in markets that should see several years of job and income growth above the national average, which should lead to higher rent growth.",
    "output": "[Cause] focusing its portfolio on the West Coast [Relation] cause [Effect] the company operates in markets that should see several years of job and income growth above the national average, which should lead to higher rent growth",
    "gold": "[Cause] several years of job and income growth above the national average [Relation] cause [Effect] higher rent growth.",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Effectively all computer software written to run on PCs and servers is written specifically for the x86 architecture, which makes it challenging for non-x86 chipmakers (such as those that license ARM architecture) to encroach upon Intel and AMD's x86 CPU turf.",
    "output": "[Cause] Effectively all computer software written to run on PCs and servers is written specifically for the x86 architecture [Relation] cause [Effect] makes it challenging for non-x86 chipmakers (such as those that license ARM architecture) to encroach upon Intel and AMD's x86 CPU turf",
    "gold": "[Cause] Effectively all computer software written to run on PCs and servers is written specifically for the x86 architecture [Relation] enable [Effect] makes it challenging for non-x86 chipmakers (such as those that license ARM architecture) to encroach upon Intel and AMD's x86 CPU turf",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Given Google's focus on privacy for its Chrome browser, we believe it is more likely that Criteo's current and potential clients may allocate less ad dollars to the firm.",
    "output": "[Cause] Google's focus on privacy for its Chrome browser [Relation] cause [Effect] Criteo's current and potential clients may allocate less ad dollars to the firm",
    "gold": "[Cause] Criteo's current and potential clients [Relation] cause [Effect] less ad dollars to the firm.",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "With each successive development of aircraft, composites as a percentage of weight have increased because composites tend to be lighter weight, which allows airlines to save on fuel expense.",
    "output": "[Cause] composites tend to be lighter weight [Relation] cause [Effect] composites as a percentage of weight have increased",
    "gold": "[Cause] composites tend to be lighter weight [Relation] enable [Effect] composites as a percentage of weight have increased",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "With each successive development of aircraft, composites as a percentage of weight have increased because composites tend to be lighter weight, which allows airlines to save on fuel expense.",
    "output": "[Cause] composites tend to be lighter weight [Relation] enable [Effect] airlines to save on fuel expense",
    "gold": "[Cause] composites tend to be lighter weight [Relation] enable [Effect] airlines to save on fuel expense",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Its design focuses on innovative software, next-generation switching speed, and removing antiquated backward-compatible features to create product nimbleness and lower ownership costs.",
    "output": "[Cause] Its design focuses on innovative software, next-generation switching speed, and removing antiquated backward-compatible features [Relation] enable [Effect] create product nimbleness and lower ownership costs",
    "gold": "[Cause] Its design focuses on innovative software, next-generation switching speed, and removing antiquated backward-compatible features [Relation] enable [Effect] create product nimbleness and lower ownership costs",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "From a manufacturing standpoint, concentrate operations are markedly less capital-intensive and require less labor and overhead relative to finished product operations, which require specialized canning and bottling production lines that are typically not interchangeable across products or package sizes.",
    "output": "[Cause] concentrate operations are markedly less capital-intensive and require less labor and overhead relative to finished product operations [Relation] cause [Effect] require specialized canning and bottling production lines that are typically not interchangeable across products or package sizes",
    "gold": "[Cause] require specialized canning and bottling production lines [Relation] prevent [Effect] interchangeable across products or package sizes",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Like its peers, the firm is focused on engaging users beyond the initial game sale via extending the monetization window by expanding the use of multiplayer options and releasing downloadable content.",
    "output": "[Cause] expanding the use of multiplayer options and releasing downloadable content [Relation] enable [Effect] engaging users beyond the initial game sale via extending the monetization window",
    "gold": "[Cause] expanding the use of multiplayer options and releasing downloadable content [Relation] cause [Effect] engaging users beyond the initial game sale via extending the monetization window",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Capital projects targeting capacity and velocity improvement have helped the rail capitalize on net positive truck-to-rail conversion activity over the years.",
    "output": "[Cause] Capital projects targeting capacity and velocity improvement [Relation] enable [Effect] the rail capitalize on net positive truck-to-rail conversion activity over the years",
    "gold": "[Cause] Capital projects targeting capacity and velocity improvement [Relation] enable [Effect]  the rail capitalize on net positive truck-to-rail conversion activity over the years",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Further, we think that as a result of these cost advantages, Kellogg maintains the ability to replicate competitive products and ultimately offer this fare to retailers at a lower cost.",
    "output": "[Cause] these cost advantages [Relation] cause [Effect] Kellogg maintains the ability to replicate competitive products and ultimately offer this fare to retailers at a lower cost",
    "gold": "[Cause]  these cost advantages [Relation] cause [Effect] Kellogg maintains the ability to replicate competitive products and ultimately offer this fare to retailers at a lower cost",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "As some of the more potent energy drink ingredients, such as guarana or ginseng, receive closer scrutiny from health experts and regulators, several go-to-market restrictions could come to fruition.",
    "output": "[Cause] some of the more potent energy drink ingredients, such as guarana or ginseng, receive closer scrutiny from health experts and regulators [Relation] cause [Effect] several go-to-market restrictions could come to fruition",
    "gold": "[Cause] some of the more potent energy drink ingredients, such as guarana or ginseng, receive closer scrutiny from health experts and regulators [Relation] cause [Effect] several go-to-market restrictions could come to fruition",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "IT investments are necessary to lower carrier sourcing costs and boost independent-agent productivity, but they add incremental pressure amid a tough operating backdrop.",
    "output": "[Cause] IT investments [Relation] enable [Effect] lower carrier sourcing costs and boost independent-agent productivity",
    "gold": "[Cause] amid a tough operating backdrop [Relation] cause [Effect] add incremental pressure",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Meanwhile, the analog chip market is fragmented and based on proprietary designs, so market share shifts tend to be quite gradual, and it remains to be seen whether hearty growth can come to fruition.",
    "output": "[Cause] the analog chip market is fragmented and based on proprietary designs [Relation] cause [Effect] market share shifts tend to be quite gradual",
    "gold": "[Cause] the analog chip market is fragmented and based on proprietary designs [Relation] cause [Effect] market share shifts tend to be quite gradual",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We also see modest selling, general, and administrative expense leverage as the firm's portfolio expands, though it accounts for less than 100 basis points of our estimated EBITDA improvement.",
    "output": "[Cause] the firm's portfolio expands [Relation] cause [Effect] modest selling, general, and administrative expense leverage",
    "gold": "[Cause] the firm's portfolio expands [Relation] cause [Effect] modest selling, general, and administrative expense leverage",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Wells Fargo remains one of the top deposit gatherers in the United States, even after the bank's scandals and an asset cap, with the third most deposits in the U.S., behind JPMorgan and Bank of America.",
    "output": "[Cause] the bank's scandals and an asset cap [Relation] cause [Effect] Wells Fargo remains one of the top deposit gatherers in the United States",
    "gold": "[Cause] with the third most deposits in the U.S., behind JPMorgan and Bank of Americ [Relation] cause [Effect] Wells Fargo remains one of the top deposit gatherers in the United States",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We believe Wesco's technological capabilities, including its e-commerce sales channel, integrated customer purchasing and inventory management solutions, and warehouse automation, drive distribution efficiencies that would be difficult for smaller competitors to replicate.",
    "output": "[Cause] Wesco's technological capabilities, including its e-commerce sales channel, integrated customer purchasing and inventory management solutions, and warehouse automation [Relation] enable [Effect] distribution efficiencies",
    "gold": "[Cause] drive distribution efficiencies [Relation] cause [Effect] difficult for smaller competitors to replicate",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Credit ratings provide value to bond issuers as well as bond investors, and as a result this creates a network effect.",
    "output": "[Cause] Credit ratings provide value to bond issuers as well as bond investors [Relation] cause [Effect] creates a network effect",
    "gold": "[Cause] Credit ratings provide value to bond issuers as well as bond investors [Relation] cause [Effect]  creates a network effect",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "With cafelike environments and a brand that is broadly synonymous with a high-quality customer experience, Starbucks enjoys pricing power advantages over most specialty coffee peers, which we believe will only be augmented by the incubation of the Starbucks Reserve sub-brand to distribute exclusive, higher-end coffee blends.",
    "output": "[Cause] the incubation of the Starbucks Reserve sub-brand to distribute exclusive, higher-end coffee blends [Relation] enable [Effect] Starbucks enjoys pricing power advantages over most specialty coffee peers",
    "gold": "[Cause] enjoys pricing power advantages [Relation] enable [Effect] higher-end coffee blends",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We forecast that Trane can continue to raise prices in excess of input cost inflation, supporting both top-line growth and profit margins.",
    "output": "[Cause] Trane can continue to raise prices in excess of input cost inflation [Relation] enable [Effect] supporting both top-line growth and profit margins",
    "gold": "[Cause] Trane can continue to raise prices in excess of input cost inflation [Relation] cause [Effect] supporting both top-line growth and profit margins",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Its chemical facilities enjoy a relative feedstock advantage, given their location on the Gulf Coast and in the Middle East.",
    "output": "[Cause] their location on the Gulf Coast and in the Middle East [Relation] cause [Effect] Its chemical facilities enjoy a relative feedstock advantage",
    "gold": "[Cause] their location on the Gulf Coast and in the Middle East [Relation] cause [Effect] Its chemical facilities enjoy a relative feedstock advantage",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We expect R&D as a percentage of sales to settle in the midteens as ASML continues to invest in EUV development and other critical technologies for extending Moore's Law.",
    "output": "[Cause] ASML continues to invest in EUV development and other critical technologies for extending Moore's Law [Relation] cause [Effect] R&D as a percentage of sales to settle in the midteens",
    "gold": "[Cause] ASML continues to invest in EUV development and other critical technologies for extending Moore's Law [Relation] cause [Effect] R&D as a percentage of sales to settle in the midteens",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "A typical refinery will run 24 hours a day, seven days a week, and process around 200,000 barrels, so a 1% improvement in throughput can drive millions of dollars of operating profit.",
    "output": "[Cause] A typical refinery will run 24 hours a day, seven days a week, and process around 200,000 barrels [Relation] cause [Effect] a 1% improvement in throughput can drive millions of dollars of operating profit",
    "gold": "[Cause] A typical refinery will run 24 hours a day, seven days a week, and process around 200,000 barrels [Relation] enable [Effect]  a 1% improvement in throughput can drive millions of dollars of operating profit",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "But reported volumes could fluctuate as Apache's revenue and profits in Egypt are governed by production-sharing contracts (due to cost recovery provisions in these contracts, lower crude prices translate to higher volumes, creating a natural hedge, helping the company to cope with this very weak commodity environment).",
    "output": "[Cause] cost recovery provisions in these contracts, lower crude prices translate to higher volumes, creating a natural hedge [Relation] cause [Effect] helping the company to cope with this very weak commodity environment",
    "gold": "[Cause]  cost recovery provisions in these contracts, lower crude prices translate to higher volumes, creating a natural hedge, helping the company to cope with this very weak commodity environment [Relation] cause [Effect]  Apache's revenue and profits in Egypt are governed by production-sharing contracts",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Between fiscal years 2013 and 2015, Coach's sales dropped by $1 billion in just two years due to an intentional reduction in retail distribution and aggressive competition from Michael Kors and others.",
    "output": "[Cause] an intentional reduction in retail distribution and aggressive competition from Michael Kors and others [Relation] cause [Effect] Coach's sales dropped by $1 billion in just two years",
    "gold": "[Cause]  an intentional reduction in retail distribution and aggressive competition from Michael Kors and others [Relation] enable [Effect]  Coach's sales dropped by $1 billion in just two years",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The Cloverhill acquisition (which was operating at a loss when Hostess acquired it) impaired Hostess' 2018 gross margins by over 500 basis points.",
    "output": "[Cause] The Cloverhill acquisition [Relation] cause [Effect] impaired Hostess' 2018 gross margins by over 500 basis points",
    "gold": "[Cause] The Cloverhill acquisition [Relation] cause [Effect] impaired Hostess' 2018 gross margins by over 500 basis points",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "For 2022-30, we estimate Las Vegas revenue growth to average 4% versus 6% prior, as demand is pushed forward into 2021.",
    "output": "[Cause] demand is pushed forward into 2021 [Relation] cause [Effect] Las Vegas revenue growth to average 4% versus 6% prior",
    "gold": "[Cause] demand is pushed forward into 2021 [Relation] enable [Effect]  Las Vegas revenue growth to average 4% versus 6% prior",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The invested capital base was inflated by substantial procyclical investment during the height of the China boom, the rot setting in by overpaying for Alcan, and subsequent excessive iron ore expansion; the combination of these factors means midcycle returns are likely to remain below the cost of capital.",
    "output": "[Cause] The invested capital base was inflated by substantial procyclical investment during the height of the China boom, the rot setting in by overpaying for Alcan, and subsequent excessive iron ore expansion [Relation] cause [Effect] midcycle returns are likely to remain below the cost of capital",
    "gold": "[Cause] The invested capital base was inflated by substantial procyclical investment during the height of the China boom, the rot setting in by overpaying for Alcan, and subsequent excessive iron ore expansion [Relation] cause [Effect]  midcycle returns are likely to remain below the cost of capital",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The company's lean manufacturing capabilities and flexible operations allow it to thrive in a high mix and low volume environment, offering customers a wide array of configurable and customizable solutions.",
    "output": "[Cause] The company's lean manufacturing capabilities and flexible operations [Relation] enable [Effect] thrive in a high mix and low volume environment",
    "gold": "[Cause] The company's lean manufacturing capabilities and flexible operations [Relation] enable [Effect] thrive in a high mix and low volume environment",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The company's lean manufacturing capabilities and flexible operations allow it to thrive in a high mix and low volume environment, offering customers a wide array of configurable and customizable solutions.",
    "output": "[Cause] The company's lean manufacturing capabilities and flexible operations [Relation] enable [Effect] it to thrive in a high mix and low volume environment",
    "gold": "[Cause] thrive in a high mix and low volume environment [Relation] enable [Effect] offering customers a wide array of configurable and customizable solutions",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Moreover, Nike, especially, has been aggressive in cutting back on shipments to wholesale partners that it no longer views as strategic.",
    "output": "[Cause] Nike, especially, has been aggressive in cutting back on shipments to wholesale partners [Relation] cause [Effect] it no longer views as strategic",
    "gold": "[Cause] it no longer views as strategic [Relation] cause [Effect] Nike, especially, has been aggressive in cutting back on shipments to wholesale partners",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We believe that Moody's will be able to respond to soft issuance with higher pricing and continued penetration by providing ratings to first-time or newer issuers.",
    "output": "[Cause] providing ratings to first-time or newer issuers [Relation] enable [Effect] Moody's will be able to respond to soft issuance with higher pricing and continued penetration",
    "gold": "[Cause] providing ratings to first-time or newer issuers [Relation] cause [Effect] Moody's will be able to respond to soft issuance with higher pricing and continued penetration",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Bond issuers value credit ratings from Moody's and S&P because of their wide acceptance among asset owners and asset managers.",
    "output": "[Cause] their wide acceptance among asset owners and asset managers [Relation] cause [Effect] Bond issuers value credit ratings from Moody's and S&P",
    "gold": "[Cause] their wide acceptance among asset owners and asset managers [Relation] cause [Effect] Bond issuers value credit ratings from Moody's and S&P",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The focus on essentials has led to a greater skew toward broadly available consumables, which constitute over 75% of segment sales.",
    "output": "[Cause] The focus on essentials [Relation] cause [Effect] a greater skew toward broadly available consumables",
    "gold": "[Cause] The focus on essentials [Relation] cause [Effect] a greater skew toward broadly available consumables",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "COVID-19 and the pace of economic recovery is also a risk; given the firm's reliance on convenience stores, a lack of movement by the general populous could stymie Monster's growth in this channel.",
    "output": "[Cause] the firm's reliance on convenience stores [Relation] cause [Effect] a lack of movement by the general populous could stymie Monster's growth in this channel",
    "gold": "[Cause]  the firm's reliance on convenience stores [Relation] cause [Effect]  a lack of movement by the general populous could stymie Monster's growth in this channel",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "With Buffett running Berkshire on a decentralized basis, the managers of the company's operating subsidiaries are empowered to make their own business decisions.",
    "output": "[Cause] Buffett running Berkshire on a decentralized basis [Relation] enable [Effect] the managers of the company's operating subsidiaries are empowered to make their own business decisions",
    "gold": "[Cause] Buffett running Berkshire on a decentralized basis [Relation] enable [Effect] the managers of the company's operating subsidiaries are empowered to make their own business decisions",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Further, we've seen evidence of significant customer tendency to stick with Baxter for IV solutions, despite the supply disruption that ensued from Hurricane Maria in 2017, suggesting that price is really the key decision factor for a majority of this market.",
    "output": "[Cause] Hurricane Maria in 2017 [Relation] cause [Effect] supply disruption",
    "gold": "[Cause] price is really the key decision factor for a majority of this market [Relation] cause [Effect] customer tendency to stick with Baxter for IV solutions",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Further, we've seen evidence of significant customer tendency to stick with Baxter for IV solutions, despite the supply disruption that ensued from Hurricane Maria in 2017, suggesting that price is really the key decision factor for a majority of this market.",
    "output": "[Cause] price [Relation] cause [Effect] a majority of this market",
    "gold": "[Cause] Hurricane Maria in 2017 [Relation] cause [Effect] the supply disruption",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We expect Macao industry gross gaming revenue to recover to low-60s of 2019 levels in 2020, as visa and COVID-19 testing restrictions slowly ease.",
    "output": "[Cause] visa and COVID-19 testing restrictions slowly ease [Relation] cause [Effect] Macao industry gross gaming revenue to recover to low-60s of 2019 levels in 2020",
    "gold": "[Cause] visa and COVID-19 testing restrictions slowly ease [Relation] cause [Effect]  Macao industry gross gaming revenue to recover to low-60s of 2019 levels in 2020",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Longer term, the positive mix impact of premiumization, together with modest operating leverage from volume growth in developing markets, should mean that a steady-state EBIT margin of over 32% is achievable. This would require post-COVID-19 margin drivers such as channel, packaging and brand mix to kick in, but it is still below the 34% peak margins achieved before the SABMiller acquisition.",
    "output": "[Cause] the positive mix impact of premiumization, together with modest operating leverage from volume growth in developing markets, should mean that a steady-state EBIT margin of over 32% is achievable [Relation] cause [Effect] require post-COVID-19 margin drivers such as channel, packaging and brand mix to kick in, but it is still below the 34% peak margins achieved before the SABMiller acquisition",
    "gold": "[Cause] the positive mix impact of premiumization, together with modest operating leverage from volume growth in developing markets, should mean that a steady-state EBIT margin of over 32% is achievable [Relation] cause [Effect]  require post-COVID-19 margin drivers such as channel, packaging and brand mix to kick in, but it is still below the 34% peak margins achieved before the SABMiller acquisition",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Fluctuating prices for key commodities the company extracts and sells has been a constant risk for Republic's recycling operations (3% of 2019 revenue), and the business has been adversely affected by China's import restrictions, which have pressured recycled commodity prices.",
    "output": "[Cause] Fluctuating prices for key commodities the company extracts and sells [Relation] cause [Effect] a constant risk for Republic's recycling operations",
    "gold": "[Cause] Fluctuating prices for key commodities the company extracts and sells [Relation] prevent [Effect] Republic's recycling operations (3% of 2019 revenue)",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Fluctuating prices for key commodities the company extracts and sells has been a constant risk for Republic's recycling operations (3% of 2019 revenue), and the business has been adversely affected by China's import restrictions, which have pressured recycled commodity prices.",
    "output": "[Cause] China's import restrictions [Relation] cause [Effect] the business has been adversely affected",
    "gold": "[Cause] the business has been adversely affected by China's import restrictions [Relation] cause [Effect] have pressured recycled commodity prices",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Workday Credentials is a blockchain platform which allows applicants' single identity to be recognized as they apply to jobs across multiple Workday customers--in order to remove the headache of submitting the same information time and time again.",
    "output": "[Cause] Workday Credentials is a blockchain platform which allows applicants' single identity to be recognized as they apply to jobs across multiple Workday customers [Relation] enable [Effect] remove the headache of submitting the same information time and time again",
    "gold": "[Cause] they apply to jobs across multiple Workday customers--in order to remove the headache of submitting the same information time and time again [Relation] enable [Effect] allows applicants' single identity to be recognized",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Financial regulators in China have continuously scrutinized online financial services and has led to the cancellation of its investee Ant Financial's IPO.",
    "output": "[Cause] Financial regulators in China have continuously scrutinized online financial services [Relation] cause [Effect] the cancellation of its investee Ant Financial's IPO",
    "gold": "[Cause] Financial regulators in China have continuously scrutinized online financial services [Relation] cause [Effect] the cancellation of its investee Ant Financial's IPO",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The company's reputation, developed over the decades, for pricing transactions in a way that benefits both sellers and buyers puts it in a strong position when management teams are contemplating an investment banking deal.",
    "output": "[Cause] The company's reputation, developed over the decades [Relation] enable [Effect] pricing transactions in a way that benefits both sellers and buyers",
    "gold": "[Cause] for pricing transactions in a way that benefits both sellers [Relation] enable [Effect] The company's reputation, developed over the decades",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Given the small market size and relatively modest sales potential of products, the reward often will not justify a new competitor pursuing clinical trials to bring a product to market.",
    "output": "[Cause] the small market size and relatively modest sales potential of products [Relation] cause [Effect] the reward often will not justify a new competitor pursuing clinical trials to bring a product to market",
    "gold": "[Cause]  the small market size and relatively modest sales potential of products [Relation] cause [Effect] the reward often will not justify a new competitor pursuing clinical trials to bring a product to market",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "These clients require cross-border banking services and products, and we believe that this increase switching costs for clients on either side of the border.",
    "output": "[Cause] These clients require cross-border banking services and products [Relation] cause [Effect] increase switching costs for clients on either side of the border",
    "gold": "[Cause] These clients require cross-border banking services and products [Relation] enable [Effect] increase switching costs for clients on either side of the border",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Due to the requisite engineering and sales expenses associated with these services, demand creation comes with much higher operating expenses while still generating operating profit above simple fulfillment.",
    "output": "[Cause] the requisite engineering and sales expenses associated with these services [Relation] cause [Effect] demand creation comes with much higher operating expenses",
    "gold": "[Cause] the requisite engineering and sales expenses associated with these services [Relation] cause [Effect] demand creation comes with much higher operating expenses",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Due to the requisite engineering and sales expenses associated with these services, demand creation comes with much higher operating expenses while still generating operating profit above simple fulfillment.",
    "output": "[Cause] demand creation comes with much higher operating expenses [Relation] cause [Effect] still generating operating profit above simple fulfillment",
    "gold": "[Cause] the requisite engineering and sales expenses associated with these services [Relation] cause [Effect] enerating operating profit above simple fulfillment",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We're generally constructive about the Cheddar's acquisition, as its value reputation, restaurant layout, and target audience complement Darden's portfolio and offers customer data/menu construction synergies, improved bargaining clout with suppliers and landlords, and other cost-reduction opportunities.",
    "output": "[Cause] its value reputation, restaurant layout, and target audience complement Darden's portfolio and offers customer data/menu construction synergies, improved bargaining clout with suppliers and landlords, and other cost-reduction opportunities [Relation] cause [Effect] We're generally constructive about the Cheddar's acquisition",
    "gold": "[Cause]  its value reputation, restaurant layout, and target audience [Relation] enable [Effect] Darden's portfolio  | offers customer data/menu construction synergies | improved bargaining clout with suppliers and landlords, and other cost-reduction opportunities.",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "High levels of part availability further enhance retailers' reputations with commercial buyers (and are difficult to replicate for regional players with less extensive infrastructure).",
    "output": "[Cause] High levels of part availability [Relation] enable [Effect] enhance retailers' reputations with commercial buyers",
    "gold": "[Cause] High levels of part availability [Relation] enable [Effect] enhance retailers' reputations with commercial buyers",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Additionally, AMD supplies semicustom chips such as those for game consoles PlayStation 4 and Microsoft Xbox One, which has helped generate much-needed cashflow in recent years.",
    "output": "[Cause] AMD supplies semicustom chips [Relation] enable [Effect] generated much-needed cashflow in recent years",
    "gold": "[Cause] AMD supplies semicustom chips such as those for game consoles PlayStation 4 and Microsoft Xbox One [Relation] enable [Effect] generate much-needed cashflow in recent years",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "The complexity and unique mechanism of these drugs results in a new, efficacious therapy that serves as a competitive advantage for Vertex.",
    "output": "[Cause] The complexity and unique mechanism of these drugs [Relation] cause [Effect] a new, efficacious therapy that serves as a competitive advantage for Vertex",
    "gold": "[Cause] The complexity and unique mechanism of these drugs [Relation] cause [Effect]  a new, efficacious therapy that serves as a competitive advantage for Vertex",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "With growth investment set to drop substantially, we think EBITDA will remain around $1.5 billion based on Phillips 66 Partners' existing assets and assuming the Dakota Access Pipeline remains in service.",
    "output": "[Cause] growth investment set to drop substantially [Relation] cause [Effect] EBITDA will remain around $1.5 billion based on Phillips 66 Partners' existing assets and assuming the Dakota Access Pipeline remains in service",
    "gold": "[Cause]  Phillips 66 Partners' existing assets and assuming the Dakota Access Pipeline remains in service [Relation] enable [Effect]  EBITDA will remain around $1.5 billion",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "The firm's ability to continue securing permits is also necessary, but due to the societal dependence on mobile communication, this is unlikely to be an issue.",
    "output": "[Cause] the societal dependence on mobile communication [Relation] cause [Effect] this is unlikely to be an issue",
    "gold": "[Cause] the societal dependence on mobile communication [Relation] cause [Effect] this is unlikely to be an issue",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We think examples of rapidly slowing demand like this indicate that pricing can become competitive during periods of economic distress.",
    "output": "[Cause] examples of rapidly slowing demand like this [Relation] enable [Effect] pricing can become competitive during periods of economic distress",
    "gold": "[Cause]  pricing can become competitive during periods of economic distress [Relation] cause [Effect] rapidly slowing demand",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "In mobile network base stations, the move to 5G and massive MIMO antenna technology requires a proliferation of connections, as well as greater complexity in antenna design—all of which serve to grow Amphenol's revenue per base station.",
    "output": "[Cause] the move to 5G and massive MIMO antenna technology requires a proliferation of connections, as well as greater complexity in antenna design [Relation] enable [Effect] grow Amphenol's revenue per base station",
    "gold": "[Cause] the move to 5G and massive MIMO antenna technology requires a proliferation of connections, as well as greater complexity in antenna design [Relation] enable [Effect] grow Amphenol's revenue per base station",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "While upcoming patent losses on anemia drug Exjade and cancer drug Afinitor will weigh on near-term growth, a strong portfolio of drugs along with a robust pipeline should ensure steady long-term growth.",
    "output": "[Cause] a strong portfolio of drugs along with a robust pipeline [Relation] enable [Effect] steady long-term growth",
    "gold": "[Cause] upcoming patent losses on anemia drug Exjade and cancer drug Afinitor [Relation] cause [Effect]  weigh on near-term growth",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Even if regulation never rises to the level of explicit price caps, the threat of this regulation could pressure Comcast to limit price increases.",
    "output": "[Cause] the threat of this regulation [Relation] cause [Effect] pressure Comcast to limit price increases",
    "gold": "[Cause] the threat of this regulation [Relation] cause [Effect] pressure Comcast to limit price increases",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The more critical the function and the more touch points across an organization a software vendor has, the higher the switching costs are.",
    "output": "[Cause] The more critical the function and the more touch points across an organization a software vendor has [Relation] cause [Effect] the higher the switching costs are",
    "gold": "[Cause] The more critical the function and the more touch points across an organization a software vendor has [Relation] cause [Effect] the higher the switching costs are",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Government spending on farm subsidies and biofuel mandates affect farm income, while investment in infrastructure development can affect the demand for construction equipment.",
    "output": "[Cause] investment in infrastructure development [Relation] cause [Effect] affect the demand for construction equipment",
    "gold": "[Cause]  investment in infrastructure development [Relation] cause [Effect]  affect the demand for construction equipment",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "As Terex makes products that can significantly impact productivity and worker safety, intuition would suggest that the market would place a premium on brands known for their quality.",
    "output": "[Cause] Terex makes products that can significantly impact productivity and worker safety [Relation] cause [Effect] the market would place a premium on brands known for their quality",
    "gold": "[Cause] Terex makes products that can significantly impact productivity and worker safety [Relation] cause [Effect]  the market would place a premium on brands known for their quality",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Furthermore, despite the high costs of entering the industry, some new players are still attempting to tap into the cruiser base as extensions of their existing operating businesses, like Virgin or Ritz-Carlton (launches of both which were pushed to 2021), potentially increasing the competitive landscape.",
    "output": "[Cause] extensions of their existing operating businesses, like Virgin or Ritz-Carlton (launches of both which were pushed to 2021) [Relation] cause [Effect] increasing the competitive landscape",
    "gold": "[Cause] some new players are still attempting to tap into the cruiser base as extensions of their existing operating businesses [Relation] cause [Effect] increasing the competitive landscape",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "In oncology, we include $1.3 billion in sales from Yescarta by 2024, with annual sales stabilizing around this level as usage expands to second-line DLBCL therapy and other forms of blood cancer, but the competitive landscape gets tougher.",
    "output": "[Cause] usage expands to second-line DLBCL therapy and other forms of blood cancer [Relation] cause [Effect] annual sales stabilizing around this level",
    "gold": "[Cause]  annual sales stabilizing around this level as usage expands to second-line DLBCL therapy and other forms of blood cancer [Relation] cause [Effect] the competitive landscape gets tougher",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We also like Toronto-Dominion's positioning as a major discount brokerage player because we believe this industry is ripe for growth as investors seek out lower-cost alternatives, and the bank could leverage its knowledge of the industry for future growth in Canada.",
    "output": "[Cause] investors seek out lower-cost alternatives [Relation] cause [Effect] this industry is ripe for growth",
    "gold": "[Cause]  the bank could leverage its knowledge of the industry [Relation] enable [Effect]  future growth in Canad",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We also like Toronto-Dominion's positioning as a major discount brokerage player because we believe this industry is ripe for growth as investors seek out lower-cost alternatives, and the bank could leverage its knowledge of the industry for future growth in Canada.",
    "output": "[Cause] investors seek out lower-cost alternatives [Relation] cause [Effect] this industry is ripe for growth",
    "gold": "[Cause] this industry is ripe for growth as investors seek out lower-cost alternatives [Relation] enable [Effect] We also like Toronto-Dominion's positioning as a major discount brokerage player",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "PSEG's nuclear plants generate the lowest-cost source of reliable electricity in the region and face virtually no substitution threat because no other power generation source can match their cost or scale.",
    "output": "[Cause] no other power generation source can match their cost or scale [Relation] cause [Effect] PSEG's nuclear plants generate the lowest-cost source of reliable electricity in the region and face virtually no substitution threat",
    "gold": "[Cause]  no other power generation source can match their cost or scale [Relation] cause [Effect] PSEG's nuclear plants generate the lowest-cost source of reliable electricity in the region and face virtually no substitution threat",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "It required the two firms to sell mobile assets and spectrum bands to a new player, Iliad. As a result, Iliad filled in an existing fourth place in the market rather than increasing the number of players.",
    "output": "[Cause] It required the two firms to sell mobile assets and spectrum bands to a new player, Iliad [Relation] cause [Effect] Iliad filled in an existing fourth place in the market rather than increasing the number of players",
    "gold": "[Cause] It required the two firms to sell mobile assets and spectrum bands to a new player, Iliad [Relation] cause [Effect] Iliad filled in an existing fourth place in the market rather than increasing the number of players",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Overall, we are projecting Posco's operating margin to decrease to 4.0% in 2024 from 6.0% in 2019, mainly due to a decline in the steel division, as competition in the steel industry remains intense in an overcapacity environment.",
    "output": "[Cause] a decline in the steel division [Relation] cause [Effect] Posco's operating margin to decrease to 4.0% in 2024 from 6.0% in 2019",
    "gold": "[Cause] competition in the steel industry remains intense in an overcapacity environment [Relation] cause [Effect]  a decline in the steel division",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Overall, we are projecting Posco's operating margin to decrease to 4.0% in 2024 from 6.0% in 2019, mainly due to a decline in the steel division, as competition in the steel industry remains intense in an overcapacity environment.",
    "output": "[Cause] competition in the steel industry remains intense in an overcapacity environment [Relation] cause [Effect] Posco's operating margin to decrease to 4.0% in 2024 from 6.0% in 2019",
    "gold": "[Cause]  a decline in the steel division [Relation] cause [Effect] we are projecting Posco's operating margin to decrease to 4.0% in 2024 from 6.0% in 2019",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "As luxury watch production has long lead times (it can take up to six months or a year to manufacture a luxury watch, and design-ins can take up to five years if substantial mechanism changes are made), a lot of inventory investments have been made during boom years.",
    "output": "[Cause] luxury watch production has long lead times [Relation] cause [Effect] a lot of inventory investments have been made during boom years",
    "gold": "[Cause]  luxury watch production has long lead times [Relation] cause [Effect] a lot of inventory investments have been made during boom years",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "New commercial building systems require significant upfront investment and installation time and have long lifecycles (commercial HVAC systems can last over 20 years). As such, we believe building operators would be reluctant to completely replace entire systems and instead prefer to retrofit existing systems to adapt to changing technology, regulatory standards, and user requirements.",
    "output": "[Cause] New commercial building systems require significant upfront investment and installation time and have long lifecycles (commercial HVAC systems can last over 20 years) [Relation] cause [Effect] building operators would be reluctant to completely replace entire systems and instead prefer to retrofit existing systems to adapt to changing technology, regulatory standards, and user requirements",
    "gold": "[Cause] New commercial building systems require significant upfront investment and installation time and have long lifecycles (commercial HVAC systems can last over 20 years) [Relation] cause [Effect]  building operators would be reluctant to completely replace entire systems and instead prefer to retrofit existing systems to adapt to changing technology, regulatory standards, and user requirements",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Finally, regulation is always a threat in the telecom industry, as politicians often view telecom services as key public goods.",
    "output": "[Cause] politicians often view telecom services as key public goods [Relation] cause [Effect] regulation is always a threat in the telecom industry",
    "gold": "[Cause] politicians often view telecom services as key public goods [Relation] cause [Effect] regulation is always a threat in the telecom industry",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We model the critical midcycle automotive operating margin, excluding equity income, in the last year of our explicit forecast period at about 5%, as GM's transformation plan announced in late 2018 should yield billions in new free cash flow.",
    "output": "[Cause] GM's transformation plan announced in late 2018 should yield billions in new free cash flow [Relation] cause [Effect] We model the critical midcycle automotive operating margin, excluding equity income, in the last year of our explicit forecast period at about 5%",
    "gold": "[Cause] GM's transformation plan announced in late 2018 should yield billions in new free cash flow [Relation] cause [Effect] We model the critical midcycle automotive operating margin, excluding equity income, in the last year of our explicit forecast period at about 5%",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Recent work-from-home trends as a result of the COVID-19 pandemic could also lead to a decrease in motor fuel consumption and ethanol blended into gasoline.",
    "output": "[Cause] Recent work-from-home trends [Relation] cause [Effect] a decrease in motor fuel consumption and ethanol blended into gasoline",
    "gold": "[Cause] Recent work-from-home trends [Relation] cause [Effect]  a decrease in motor fuel consumption and ethanol blended into gasoline",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Icon competes in one of the most lucrative areas of the CRO market: long, complex trials that require hundreds if not thousands of patients and thus have ample room for missteps.",
    "output": "[Cause] Icon competes in one of the most lucrative areas of the CRO market [Relation] cause [Effect] have ample room for missteps",
    "gold": "[Cause] long, complex trials that require hundreds if not thousands of patients [Relation] cause [Effect] have ample room for missteps",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "As cannabis shifts from its traditional smoking form to infused drinks and food products, there may be potential for the creation of brand intangibles.",
    "output": "[Cause] cannabis shifts from its traditional smoking form to infused drinks and food products [Relation] cause [Effect] there may be potential for the creation of brand intangibles",
    "gold": "[Cause] cannabis shifts from its traditional smoking form to infused drinks and food products [Relation] cause [Effect] there may be potential for the creation of brand intangibles",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "However, we anticipate a recovery in demand in 2021 and project revenue growth of 14% in 2021 and 7% in 2022, thanks to a bounce back in automotive production.",
    "output": "[Cause] a bounce back in automotive production [Relation] cause [Effect] we anticipate a recovery in demand in 2021 and project revenue growth of 14% in 2021 and 7% in 2022",
    "gold": "[Cause] a bounce back in automotive production [Relation] enable [Effect] we anticipate a recovery in demand in 2021 and project revenue growth of 14% in 2021 and 7% in 2022",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Having information on both sides of the transaction gives PayPal a meaningful edge in combating fraud, which was a very meaningful factor in the early days of the Internet, and remains a key issue.",
    "output": "[Cause] Having information on both sides of the transaction [Relation] enable [Effect] PayPal a meaningful edge in combating fraud",
    "gold": "[Cause] Having information on both sides of the transaction [Relation] enable [Effect] PayPal a meaningful edge in combating fraud",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The introduction of 3D NAND during this time period was a major inflection in flash storage as chipmakers scaled vertically to increase capacity (as opposed to solely shrinking feature sizes).",
    "output": "[Cause] chipmakers scaled vertically to increase capacity (as opposed to solely shrinking feature sizes) [Relation] cause [Effect] The introduction of 3D NAND during this time period was a major inflection in flash storage",
    "gold": "[Cause] The introduction of 3D NAND [Relation] enable [Effect] flash storage as chipmakers scaled vertically to increase capacity",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "The firm's revenue is increasingly tied to a percentage of the box office for Imax films, as the DMR business and joint revenue-sharing agreements generate the majority of revenue through this method.",
    "output": "[Cause] the DMR business and joint revenue-sharing agreements generate the majority of revenue through this method [Relation] cause [Effect] The firm's revenue is increasingly tied to a percentage of the box office for Imax films",
    "gold": "[Cause] a percentage of the box office for Imax films [Relation] cause [Effect] The firm's revenue is increasingly",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Like most branded biopharmaceutical firms, Merck's products possess unique safety and efficacy profiles that inform prescriber and end user decisions.",
    "output": "[Cause] Merck's products possess unique safety and efficacy profiles [Relation] enable [Effect] inform prescriber and end user decisions",
    "gold": "[Cause] Merck's products possess unique safety and efficacy profiles [Relation] enable [Effect]  inform prescriber and end user decisions",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "However, even though we think Plum 360 is a solid product, with features such as interoperability and topnotch security standard conformance, we believe the market leader, Becton Dickson, to have pumps with overall superior reporting interfaces, analytical capabilities, and brand recognition, which results in its much larger installed base.",
    "output": "[Cause] the market leader, Becton Dickson, to have pumps with overall superior reporting interfaces, analytical capabilities, and brand recognition [Relation] cause [Effect] its much larger installed base",
    "gold": "[Cause] the market leader, Becton Dickson, to have pumps with overall superior reporting interfaces, analytical capabilities, and brand recognition [Relation] cause [Effect] its much larger installed base",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "However, even though we think Plum 360 is a solid product, with features such as interoperability and topnotch security standard conformance, we believe the market leader, Becton Dickson, to have pumps with overall superior reporting interfaces, analytical capabilities, and brand recognition, which results in its much larger installed base.",
    "output": "[Cause] the market leader, Becton Dickson, to have pumps with overall superior reporting interfaces, analytical capabilities, and brand recognition [Relation] cause [Effect] its much larger installed base",
    "gold": "[Cause] features such as interoperability and topnotch security standard conformance [Relation] cause [Effect] Plum 360 is a solid product",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We forecast 5% growth for the communications solutions segment, as rapidly growing data center sales become a larger portion of the segment's top line.",
    "output": "[Cause] rapidly growing data center sales become a larger portion of the segment's top line [Relation] cause [Effect] We forecast 5% growth for the communications solutions segment",
    "gold": "[Cause] rapidly growing data center sales become a larger portion of the segment's top line [Relation] enable [Effect] We forecast 5% growth for the communications solutions segment",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "IAC strengthened its balance sheet after spinning off Match, which we think will allow the firm to acquire more fast-growing online marketplace businesses.",
    "output": "[Cause] IAC strengthened its balance sheet after spinning off Match [Relation] enable [Effect] the firm to acquire more fast-growing online marketplace businesses",
    "gold": "[Cause] IAC strengthened its balance sheet after spinning off Match [Relation] enable [Effect] the firm to acquire more fast-growing online marketplace businesses",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Oneok's network is deep enough in Texas and the midcontinent that it has options in terms of marketing NGLs in the midcontinent or moving them down to the Gulf Coast, depending on the widest differentials.",
    "output": "[Cause] Oneok's network is deep enough in Texas and the midcontinent [Relation] cause [Effect] it has options in terms of marketing NGLs in the midcontinent or moving them down to the Gulf Coast, depending on the widest differentials",
    "gold": "[Cause] the widest differentials [Relation] cause [Effect] it has options in terms of marketing NGLs in the midcontinent or moving them down to the Gulf Coast",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Therefore, the company is vulnerable to large cancellations and pipeline reprioritizations because it can be challenging to immediately repurpose capacity for new projects.",
    "output": "[Cause] it can be challenging to immediately repurpose capacity for new projects [Relation] cause [Effect] the company is vulnerable to large cancellations and pipeline reprioritizations",
    "gold": "[Cause] it can be challenging to immediately repurpose capacity for new projects [Relation] cause [Effect] the company is vulnerable to large cancellations and pipeline reprioritizations",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The company's highly valuable intangible assets in the form of proprietary formulations provide significant pricing power while switching costs help ensure the durability of economic profit generation.",
    "output": "[Cause] The company's highly valuable intangible assets in the form of proprietary formulations [Relation] enable [Effect] significant pricing power",
    "gold": "[Cause] The company's highly valuable intangible assets in the form of proprietary formulations [Relation] enable [Effect] significant pricing power",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We see lower operating expenses going forward because Duke Realty has exited the medical office segment to focus on industrial operations.",
    "output": "[Cause] Duke Realty has exited the medical office segment to focus on industrial operations [Relation] cause [Effect] lower operating expenses going forward",
    "gold": "[Cause] Duke Realty has exited the medical office segment to focus on industrial operations [Relation] cause [Effect]  lower operating expenses going forward",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The firm's content library in niche industries often includes required reading as specialized professionals develop their skill sets, leaving many of the company's offerings as critical references for readers.",
    "output": "[Cause] specialized professionals develop their skill sets [Relation] cause [Effect] The firm's content library in niche industries often includes required reading",
    "gold": "[Cause] The firm's content library in niche industries often includes required reading as specialized professionals develop their skill sets [Relation] enable [Effect]  many of the company's offerings as critical references for readers",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "These create a benefit for established players that can be succinctly described as 'scarcity value.'The scarcity value is partly predicated on regulation, as many of the most popular distilled spirit variants are accompanied by strict minimum aging and locale requirements enforced by government agencies.",
    "output": "[Cause] many of the most popular distilled spirit variants are accompanied by strict minimum aging and locale requirements enforced by government agencies [Relation] cause [Effect] These create a benefit for established players that can be succinctly described as'scarcity value",
    "gold": "[Cause] strict minimum aging and locale requirements enforced by government agencies. [Relation] cause [Effect] 'The scarcity value |  of the most popular distilled spirit variants",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "While it is harder to gain carriage for a brand-new network as most distributors have enough channels, Viacom can rebrand one of its existing channels in order to quickly gain carriage as the firm did with Paramount Channel, which formerly operated as Spike Network.",
    "output": "[Cause] Viacom can rebrand one of its existing channels [Relation] enable [Effect] quickly gain carriage as the firm did with Paramount Channel, which formerly operated as Spike Network",
    "gold": "[Cause] most distributors have enough channels [Relation] prevent [Effect] gain carriage for a brand-new network",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "The modified framework reduces regulatory lag, increasing OG&amp;E's realized returns on invested capital, and is another sign that Oklahoma regulation is becoming more constructive.",
    "output": "[Cause] The modified framework reduces regulatory lag [Relation] enable [Effect] increasing OG&amp;E's realized returns on invested capital",
    "gold": "[Cause] The modified framework reduces regulatory lag, increasing OG&amp;E's realized returns on invested capital [Relation] enable [Effect] another sign that Oklahoma regulation is becoming more constructive",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Customers' thirst for value remains as the economic recovery is uneven, but competition for discretionary dollars should rise as pandemic-affected categories (like restaurants) rebound.",
    "output": "[Cause] the economic recovery is uneven [Relation] cause [Effect] Customers' thirst for value remains",
    "gold": "[Cause]  the economic recovery is uneven [Relation] cause [Effect] Customers' thirst for value remains",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Customers' thirst for value remains as the economic recovery is uneven, but competition for discretionary dollars should rise as pandemic-affected categories (like restaurants) rebound.",
    "output": "[Cause] pandemic-affected categories (like restaurants) rebound [Relation] cause [Effect] competition for discretionary dollars should rise",
    "gold": "[Cause] pandemic-affected categories (like restaurants) rebound [Relation] cause [Effect] competition for discretionary dollars should rise",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Weibo has discontinued its agreement with Alibaba regarding their strategic alliance, but we think Alibaba will continue to advertise on Weibo. This is because Alibaba is the second-largest shareholder of Weibo and does not have a strong presence in the social networking space to place ads.",
    "output": "[Cause] Alibaba is the second-largest shareholder of Weibo and does not have a strong presence in the social networking space to place ads [Relation] cause [Effect] Weibo has discontinued its agreement with Alibaba regarding their strategic alliance, but we think Alibaba will continue to advertise on Weibo",
    "gold": "[Cause] Alibaba is the second-largest shareholder of Weibo and does not have a strong presence in the social networking space to place ads [Relation] cause [Effect] Weibo has discontinued its agreement with Alibaba regarding their strategic alliance, but we think Alibaba will continue to advertise on Weibo",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The company further improved its technological prowess with the acquisition in 2017 of Precision Planting Systems, a company that creates solutions to improve seed placement.",
    "output": "[Cause] the acquisition in 2017 of Precision Planting Systems [Relation] enable [Effect] The company further improved its technological prowess",
    "gold": "[Cause]  the acquisition in 2017 of Precision Planting Systems [Relation] cause [Effect] The company further improved its technological prowess",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The company will be weighed down by poor returns in the capital-intensive subsea segment as well as much-weakened results in the onshore/offshore segment compared with recent levels.",
    "output": "[Cause] poor returns in the capital-intensive subsea segment as well as much-weakened results in the onshore/offshore segment compared with recent levels [Relation] cause [Effect] The company will be weighed down",
    "gold": "[Cause] poor returns in the capital-intensive subsea segment as well as much-weakened results in the onshore/offshore segment compared with recent levels [Relation] cause [Effect] The company will be weighed down",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We do expect industry combined ratios to creep up a bit over time, as we expect a bounceback in interest rates and investment income will reduce the need to generate strong underwriting profits.",
    "output": "[Cause] a bounceback in interest rates and investment income will reduce the need to generate strong underwriting profits [Relation] cause [Effect] industry combined ratios to creep up a bit over time",
    "gold": "[Cause]  we expect a bounceback in interest rates [Relation] cause [Effect] We do expect industry combined ratios to creep up a bit over time",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "To this effect, twice in the past 10 years, the government has unexpectedly swapped CEOs between the various firms, trying to bring China Mobile's knowledge to the other operators.",
    "output": "[Cause] the government has unexpectedly swapped CEOs between the various firms [Relation] enable [Effect] bring China Mobile's knowledge to the other operators",
    "gold": "[Cause]  trying to bring China Mobile's knowledge to the other operators [Relation] cause [Effect] the government has unexpectedly swapped CEOs between the various firms,",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We believe the total market size of the China after-school tutoring education should continue to grow as we believe tier-one cities have more than 70% of student penetration, while tier-two cities' after-school tutoring penetration remains low at below 40%.",
    "output": "[Cause] tier-one cities have more than 70% of student penetration, while tier-two cities' after-school tutoring penetration remains low at below 40% [Relation] cause [Effect] the total market size of the China after-school tutoring education should continue to grow",
    "gold": "[Cause] tier-one cities have more than 70% of student penetration, while tier-two cities' after-school tutoring penetration remains low at below 40% [Relation] cause [Effect] the total market size of the China after-school tutoring education should continue to grow",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Another potential risk for WEC shareholders is that electricity or natural gas demand could fall, requiring larger rate increases to continue earning its allowed returns.",
    "output": "[Cause] electricity or natural gas demand could fall [Relation] cause [Effect] requiring larger rate increases to continue earning its allowed returns",
    "gold": "[Cause]  electricity or natural gas demand could fall [Relation] cause [Effect] requiring larger rate increases to continue earning its allowed returns",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We expect Waste Connections to continue its tuck-in acquisition strategy, and its ability to raise core price on acquired volume (thanks to its vast ownership of landfills, a preferred asset) should support free cash flow growth.",
    "output": "[Cause] its vast ownership of landfills, a preferred asset [Relation] enable [Effect] its ability to raise core price on acquired volume",
    "gold": "[Cause] its tuck-in acquisition strategy, and its ability to raise core price [Relation] enable [Effect] free cash flow growth",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "At present, we think the remaining portfolio is on solid competitive footing, with nearly 41% of its refining portfolio located within North America, where it operates large, high-complexity facilities capable of capitalizing on the growing streams of discount feedstock and cheap natural gas.",
    "output": "[Cause] nearly 41% of its refining portfolio located within North America [Relation] enable [Effect] it operates large, high-complexity facilities capable of capitalizing on the growing streams of discount feedstock and cheap natural gas",
    "gold": "[Cause] nearly 41% of its refining portfolio located within North America, where it operates large, high-complexity facilities capable of capitalizing on the growing streams of discount feedstock and cheap natural gas [Relation] cause [Effect] the remaining portfolio is on solid competitive footing",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Further, nearly one quarter of its sales result from the convenience and drug store channels, where traffic trends have been under pressure due to social distancing mandates.",
    "output": "[Cause] social distancing mandates [Relation] cause [Effect] traffic trends have been under pressure",
    "gold": "[Cause] social distancing mandates [Relation] prevent [Effect] traffic trends have been under pressure",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Our view on the Time Warner deal is based on our belief that media firms need to reach as wide an audience as possible to maintain relationships with content creators and fend off rivals.",
    "output": "[Cause] media firms need to reach as wide an audience as possible [Relation] enable [Effect] maintain relationships with content creators and fend off rivals",
    "gold": "[Cause]  possible to maintain relationships with content creators and fend off rivals [Relation] enable [Effect] media firms need to reach as wide an audience",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Lennar's \"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"Everything's Included\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\" product strategy, reduced floor-plan offerings, and centralized purchasing have simplified the construction process, reducing construction costs and cycle times.",
    "output": "[Cause] Lennar's \"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"",
    "gold": "[Cause] Lennar's \"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"Everything's Included\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\" product strategy, reduced floor-plan offerings, and centralized purchasing [Relation] enable [Effect] simplified the construction process, reducing construction costs and cycle times",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We think Baidu faces high levels of risk, given intense competition along with questions as to whether its AI-related investment will generate satisfactory returns.",
    "output": "[Cause] intense competition along with questions as to whether its AI-related investment will generate satisfactory returns [Relation] cause [Effect] Baidu faces high levels of risk",
    "gold": "[Cause] intense competition along with questions as to whether its AI-related investment will generate satisfactory returns [Relation] cause [Effect] Baidu faces high levels of risk",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We expect the Sprint merger will go a long way toward solidifying T-Mobile's position within a healthier industry structure, but several potential developments could derail these efforts over the next decade, limiting our confidence.",
    "output": "[Cause] the Sprint merger [Relation] enable [Effect] solidifying T-Mobile's position within a healthier industry structure",
    "gold": "[Cause] the Sprint merger [Relation] enable [Effect] solidifying T-Mobile's position within a healthier industry structure",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We expect the Sprint merger will go a long way toward solidifying T-Mobile's position within a healthier industry structure, but several potential developments could derail these efforts over the next decade, limiting our confidence.",
    "output": "[Cause] derail these efforts over the next decade [Relation] prevent [Effect] our confidence",
    "gold": "[Cause] several potential developments [Relation] cause [Effect] derail these efforts over the next decade, limiting our confidence",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Another problem associated with Southern's transformation is the delays and cost overruns at the Kemper (Mississippi) project, an integrated gasification combined-cycle power plant that was to convert lignite coal to syngas and the first plant at commercial scale to use carbon capture.",
    "output": "[Cause] the delays and cost overruns at the Kemper (Mississippi) project [Relation] cause [Effect] Southern's transformation",
    "gold": "[Cause] Kemper (Mississippi) project [Relation] enable [Effect] convert lignite coal to syngas",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "In short, TCCC is well-aware of how unnecessarily severe pricing relationships with bottlers can affect its competitive positioning in the marketplace, and as such, it works doubly hard to ensure that its bottling partners are properly incented.",
    "output": "[Cause] TCCC is well-aware of how unnecessarily severe pricing relationships with bottlers can affect its competitive positioning in the marketplace [Relation] cause [Effect] it works doubly hard to ensure that its bottling partners are properly incented",
    "gold": "[Cause] TCCC is well-aware of how unnecessarily severe pricing relationships with bottlers [Relation] prevent [Effect] its competitive positioning in the marketplace",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Of the traditional grocers, we believe Kroger is uniquely positioned to defend its returns against a competitive onslaught that should intensify as Amazon, hard discounters, and mass merchandisers price aggressively to boost volume.",
    "output": "[Cause] Amazon, hard discounters, and mass merchandisers price aggressively [Relation] cause [Effect] intensify",
    "gold": "[Cause] Amazon, hard discounters, and mass merchandisers price aggressively to boost volume [Relation] cause [Effect] a competitive onslaught",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Of the traditional grocers, we believe Kroger is uniquely positioned to defend its returns against a competitive onslaught that should intensify as Amazon, hard discounters, and mass merchandisers price aggressively to boost volume.",
    "output": "[Cause] Amazon, hard discounters, and mass merchandisers price aggressively to boost volume [Relation] cause [Effect] Kroger is uniquely positioned to defend its returns against a competitive onslaught",
    "gold": "[Cause] Kroger is uniquely positioned [Relation] enable [Effect] defend its returns against a competitive onslaught",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "The most important driver for Plains will be its Permian asset base, where we think the outlook is more of a lower-for-longer scenario, as producers spend within cash flows and are seeking to hold production flat in the near term.",
    "output": "[Cause] producers spend within cash flows and are seeking to hold production flat in the near term [Relation] cause [Effect] the outlook is more of a lower-for-longer scenario",
    "gold": "[Cause] producers spend within cash flows and are seeking to hold production flat in the near term [Relation] cause [Effect] the outlook is more of a lower-for-longer scenario",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The most important driver for Plains will be its Permian asset base, where we think the outlook is more of a lower-for-longer scenario, as producers spend within cash flows and are seeking to hold production flat in the near term.",
    "output": "[Cause] producers spend within cash flows and are seeking to hold production flat in the near term [Relation] cause [Effect] the outlook is more of a lower-for-longer scenario",
    "gold": "[Cause] its Permian asset base [Relation] enable [Effect] The most important driver for Plains",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "With 15% of sales to the auto industry and no other end-market making up over 5%, DuPont is diversified and we forecast consolidated revenue to grow above global GDP.",
    "output": "[Cause] 15% of sales to the auto industry and no other end-market making up over 5% [Relation] cause [Effect] DuPont is diversified",
    "gold": "[Cause] consolidated revenue to grow above global GDP [Relation] enable [Effect] DuPont is diversified",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We expect the company's adjusted EBITDA margin will reach 46% by 2029, mostly due to fixed cost leverage against overhead expenses.",
    "output": "[Cause] fixed cost leverage against overhead expenses [Relation] cause [Effect] the company's adjusted EBITDA margin will reach 46% by 2029",
    "gold": "[Cause] fixed cost leverage against overhead expenses [Relation] cause [Effect] the company's adjusted EBITDA margin will reach 46% by 2029",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "While these volumes will not realize net growth in the next several years, ConocoPhillips is adding 175 mboe/d of volumes to backfill declines, which should keep the conventional assets at about 40% of the total portfolio.",
    "output": "[Cause] ConocoPhillips is adding 175 mboe/d of volumes to backfill declines [Relation] enable [Effect] keep the conventional assets at about 40% of the total portfolio",
    "gold": "[Cause] ConocoPhillips is adding 175 mboe/d of volumes to backfill declines [Relation] enable [Effect] keep the conventional assets at about 40% of the total portfolio",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "If one of ICE'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] seizing the collateral of the defaulted counterparty [Relation] cause [Effect] the exchange will step in and close out the transaction",
    "gold": "[Cause] one of ICE'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,
    "tag": "nonsubstr"
  },
  {
    "input": "We've been impressed by Starbucks' efforts to expand its distribution beyond traditional outlets, including other restaurant chains, hotels, airlines, universities, and offices. These developments give us confidence in our outlook calling for mid-single-digit collective average annual revenue growth for the channel development segments over the next five years (excluding a shift to a more royalty-based revenue structure for its single-serve business in fiscal 2021).",
    "output": "[Cause] Starbucks' efforts to expand its distribution beyond traditional outlets, including other restaurant chains, hotels, airlines, universities, and offices [Relation] enable [Effect] give us confidence in our outlook calling for mid-single-digit collective average annual revenue growth for the channel development segments over the next five years (excluding a shift to a more royalty-based revenue structure for its single-serve business in fiscal 2021)",
    "gold": "[Cause] Starbucks' efforts to expand its distribution beyond traditional outlets, including other restaurant chains, hotels, airlines, universities, and offices [Relation] cause [Effect] give us confidence in our outlook calling for mid-single-digit collective average annual revenue growth for the channel development segments over the next five years (excluding a shift to a more royalty-based revenue structure for its single-serve business in fiscal 2021)",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In addition to further success we expect in adding subscribers, we believe the higher-quality network gives Telus more pricing power and is more efficient, leading to reduced costs.",
    "output": "[Cause] the higher-quality network [Relation] enable [Effect] Telus more pricing power and is more efficient",
    "gold": "[Cause]  the higher-quality network [Relation] enable [Effect] Telus more pricing power and is more efficient",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "With its strong track record and decades of experience in the business, Crane enjoys strong relationships with all major original equipment manufacturers, including Boeing, Airbus, Bombardier, and Comac.",
    "output": "[Cause] its strong track record and decades of experience in the business [Relation] enable [Effect] Crane enjoys strong relationships with all major original equipment manufacturers, including Boeing, Airbus, Bombardier, and Comac",
    "gold": "[Cause]  its strong track record and decades of experience in the business [Relation] cause [Effect] Crane enjoys strong relationships with all major original equipment manufacturers, including Boeing, Airbus, Bombardier, and Comac",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Toll Brothers entered the luxury for-sale (City Living) and for-rent (Apartment Living) market in urban centers to leverage existing assets and diversify revenue streams.",
    "output": "[Cause] leverage existing assets and diversify revenue streams [Relation] enable [Effect] Toll Brothers entered the luxury for-sale (City Living) and for-rent (Apartment Living) market in urban centers",
    "gold": "[Cause] Toll Brothers entered the luxury for-sale (City Living) and for-rent (Apartment Living) market in urban centers [Relation] enable [Effect] leverage existing assets and diversify revenue streams.",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Operating margins are anticipated to expand as the company optimizes its infrastructure as a stand-alone entity while improving scale as it grows revenue.",
    "output": "[Cause] the company optimizes its infrastructure as a stand-alone entity while improving scale as it grows revenue [Relation] cause [Effect] Operating margins are anticipated to expand",
    "gold": "[Cause] the company optimizes its infrastructure as a stand-alone entity while improving scale as it grows revenue [Relation] enable [Effect] Operating margins are anticipated to expand",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "PPD has cited an increasing win rate for new business, driven by AES' capabilities, and the company has also cited patient enrollment and trial startups 10%-30% faster than industry benchmarks.",
    "output": "[Cause] AES' capabilities [Relation] cause [Effect] PPD has cited an increasing win rate for new business",
    "gold": "[Cause] increasing win rate for new business, driven by AES' capabilities [Relation] cause [Effect] patient enrollment and trial startups 10%-30% faster than industry benchmarks",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Also, once its products are chosen due to their differentiated features for a specific application, Danaher is often able to layer on substantial switching cost-related advantages.",
    "output": "[Cause] its products are chosen due to their differentiated features for a specific application [Relation] enable [Effect] Danaher is often able to layer on substantial switching cost-related advantages",
    "gold": "[Cause] their differentiated features for a specific application [Relation] cause [Effect] products are chosen",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "The platform often needs to be integrated with different departments within a business, and the sophistication of deployment increases with the number of touchpoints that generate spending data.",
    "output": "[Cause] the number of touchpoints that generate spending data [Relation] cause [Effect] the sophistication of deployment increases",
    "gold": "[Cause] the number of touchpoints that generate spending data [Relation] cause [Effect]  the sophistication of deployment increases",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "As Broadridge continues to gain scale and generate synergies from recent M&A, we expect investor communication solutions segment operating margins (net of distribution revenue) of about 28% in fiscal 2025.",
    "output": "[Cause] Broadridge continues to gain scale and generate synergies from recent M&A [Relation] cause [Effect] investor communication solutions segment operating margins (net of distribution revenue) of about 28% in fiscal 2025",
    "gold": "[Cause] Broadridge continues to gain scale and generate synergies from recent M&A [Relation] cause [Effect] investor communication solutions segment operating margins (net of distribution revenue) of about 28% in fiscal 2025",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The 2009 agreement with La Jolla Pharmaceutical for lupus drug Riquent was a failure, and BioMarin's drisapersen (acquired with Prosensa in 2015) has failed to reach the market (research on next-generation versions of drisapersen appears to have been deprioritized).",
    "output": "[Cause] The 2009 agreement with La Jolla Pharmaceutical for lupus drug Riquent was a failure [Relation] cause [Effect] BioMarin's drisapersen (acquired with Prosensa in 2015) has failed to reach the market",
    "gold": "[Cause] The 2009 agreement with La Jolla Pharmaceutical for lupus drug Riquent was a failure [Relation] cause [Effect] BioMarin's drisapersen (acquired with Prosensa in 2015) has failed to reach the market",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In addition to process development challenges (including overly aggressive scaling targets and new interconnect materials that were difficult to manufacture), 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] the secular PC decline and relative lack of competition from AMD [Relation] cause [Effect] Intel delaying its 10-nm process ramp",
    "gold": "[Cause]  process development challenges (including overly aggressive scaling targets and new interconnect materials that were difficult to manufacture), the secular PC decline and relative lack of competition [Relation] cause [Effect] AMD all contributed to Intel delaying its 10-nm process ramp",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Through the streaming video delivery method, Netflix tracks every customer interaction, from large (total time spent at Netflix) to minute (whether a user pressed fast forward).",
    "output": "[Cause] the streaming video delivery method [Relation] enable [Effect] Netflix tracks every customer interaction, from large (total time spent at Netflix) to minute (whether a user pressed fast forward)",
    "gold": "[Cause]  the streaming video delivery method [Relation] enable [Effect] Netflix tracks every customer interaction, from large (total time spent at Netflix) to minute (whether a user pressed fast forward)",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "COVID-19-related changes in consumer behavior are helping to accelerate Amazon's online commerce and related-service offerings, partly tempered by near-term COVID-19-related expenses.",
    "output": "[Cause] near-term COVID-19-related expenses [Relation] cause [Effect] COVID-19-related changes in consumer behavior are helping to accelerate Amazon's online commerce and related-service offerings",
    "gold": "[Cause] near-term COVID-19-related expenses [Relation] cause [Effect] COVID-19-related changes in consumer behavior are helping to accelerate Amazon's online commerce and related-service offerings",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "A significant amount of its growth has come through acquisitions as organic growth in basic apparel is not much more than overall population growth.",
    "output": "[Cause] organic growth in basic apparel is not much more than overall population growth [Relation] cause [Effect] A significant amount of its growth has come through acquisitions",
    "gold": "[Cause] organic growth in basic apparel is not much more than overall population growth [Relation] cause [Effect] A significant amount of its growth has come through acquisitions",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Eni has diversified its European refining assets with the addition of capacity in the Middle East through its 20% ownership in ADNOC refining that operates refining capacity of 922 mbd.",
    "output": "[Cause] its 20% ownership in ADNOC refining that operates refining capacity of 922 mbd [Relation] enable [Effect] Eni has diversified its European refining assets with the addition of capacity in the Middle East",
    "gold": "[Cause] its 20% ownership in ADNOC refining that operates refining capacity of 922 mbd [Relation] enable [Effect] Eni has diversified its European refining assets with the addition of capacity in the Middle East",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The increase in COVID-19 cases and slower than anticipated vaccine rollout has delayed our timeline for return to normal dine-in patterns.",
    "output": "[Cause] The increase in COVID-19 cases and slower than anticipated vaccine rollout [Relation] prevent [Effect] our timeline for return to normal dine-in patterns",
    "gold": "[Cause] The increase in COVID-19 cases and slower than anticipated vaccine rollout [Relation] prevent [Effect] our timeline for return to normal dine-in patterns",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We expect new square footage growth to slow after the big expansion we forecast over the next five years, so we project capital spending to fall from over 45% of sales in 2019 to just under 20% by 2029.",
    "output": "[Cause] new square footage growth to slow after the big expansion we forecast over the next five years [Relation] cause [Effect] capital spending to fall from over 45% of sales in 2019 to just under 20% by 2029",
    "gold": "[Cause] new square footage growth to slow after the big expansion we forecast over the next five years [Relation] cause [Effect]  capital spending to fall from over 45% of sales in 2019 to just under 20% by 2029",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We are raising our fair value estimate to $80 per share from $70 per share as we incorporate quicker synergies from recent acquisitions and the firm's subsequent shift into higher-margin markets.",
    "output": "[Cause] we incorporate quicker synergies from recent acquisitions and the firm's subsequent shift into higher-margin markets [Relation] cause [Effect] We are raising our fair value estimate to $80 per share from $70 per share",
    "gold": "[Cause] we incorporate quicker synergies from recent acquisitions and the firm's subsequent shift into higher-margin markets [Relation] cause [Effect] We are raising our fair value estimate to $80 per share from $70 per share",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In our view, Masimo has successfully used its research spending to develop innovative technologies that will allow the company to maintain its strong intangible asset base.",
    "output": "[Cause] Masimo has successfully used its research spending to develop innovative technologies [Relation] enable [Effect] the company to maintain its strong intangible asset base",
    "gold": "[Cause] Masimo has successfully used its research spending to develop innovative technologies [Relation] enable [Effect] the company to maintain its strong intangible asset base",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We view Bio-Techne's intangible assets as being supportive of customer switching costs, and stickiness from the relatively low cost of protein inputs additionally supports the likelihood of longer-term excess returns.",
    "output": "[Cause] Bio-Techne's intangible assets [Relation] enable [Effect] customer switching costs",
    "gold": "[Cause] stickiness from the relatively low cost of protein inputs [Relation] enable [Effect]  the likelihood of longer-term excess returns",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We view Bio-Techne's intangible assets as being supportive of customer switching costs, and stickiness from the relatively low cost of protein inputs additionally supports the likelihood of longer-term excess returns.",
    "output": "[Cause] stickiness from the relatively low cost of protein inputs [Relation] enable [Effect] supports the likelihood of longer-term excess returns",
    "gold": "[Cause]  Bio-Techne's intangible assets [Relation] enable [Effect] supportive of customer switching costs",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Lithia tends to have one of the lowest ratios of selling, general, and administrative expense as a percentage of gross profit in the dealer sector; thus, it is a top operator, which can result in positive earnings surprises.",
    "output": "[Cause] Lithia tends to have one of the lowest ratios of selling, general, and administrative expense as a percentage of gross profit in the dealer sector [Relation] cause [Effect] it is a top operator",
    "gold": "[Cause] it is a top operator [Relation] cause [Effect] positive earnings surprises",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Lithia tends to have one of the lowest ratios of selling, general, and administrative expense as a percentage of gross profit in the dealer sector; thus, it is a top operator, which can result in positive earnings surprises.",
    "output": "[Cause] it is a top operator [Relation] cause [Effect] positive earnings surprises",
    "gold": "[Cause] Lithia tends to have one of the lowest ratios of selling, general, and administrative expense as a percentage of gross profit in the dealer sector [Relation] enable [Effect] it is a top operator",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "As Ingersoll-Rand's products perform a critical function and are closely integrated within a customer's production process, customers tend to replace components like-for-like.",
    "output": "[Cause] Ingersoll-Rand's products perform a critical function and are closely integrated within a customer's production process [Relation] cause [Effect] customers tend to replace components like-for-like",
    "gold": "[Cause] Ingersoll-Rand's products perform a critical function and are closely integrated within a customer's production process [Relation] cause [Effect] customers tend to replace components like-for-like",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "With no meaningful debt maturities until 2024, greater flexibility under its revolving credit facility (access to $175 million), and a cash balance of $166 million at December, we believe WW has the financial foundation to a pursue its digital evolution and transform its physical studio footprint.",
    "output": "[Cause] no meaningful debt maturities until 2024, greater flexibility under its revolving credit facility (access to $175 million), and a cash balance of $166 million at December [Relation] enable [Effect] WW has the financial foundation to a pursue its digital evolution and transform its physical studio footprint",
    "gold": "[Cause]  no meaningful debt maturities until 2024, greater flexibility under its revolving credit facility (access to $175 million), and a cash balance of $166 million at December [Relation] cause [Effect] WW has the financial foundation to a pursue its digital evolution and transform its physical studio footprint",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "With an R&D spend in line with its peers, we think Tesla will be able to maintain its proprietary technological advantage.",
    "output": "[Cause] an R&D spend in line with its peers [Relation] enable [Effect] Tesla will be able to maintain its proprietary technological advantage",
    "gold": "[Cause] an R&D spend in line with its peers [Relation] cause [Effect] Tesla will be able to maintain its proprietary technological advantage",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We project that net interest margins will decline in 2021 and bottom out as rate cuts weigh on the bank and the Fed does not raise rates for years.",
    "output": "[Cause] rate cuts weigh on the bank and the Fed does not raise rates for years [Relation] cause [Effect] net interest margins will decline in 2021 and bottom out",
    "gold": "[Cause] rate cuts weigh on the bank and the Fed does not raise rates for years [Relation] enable [Effect] net interest margins will decline in 2021 and bottom out",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "With its large and expanding customer base and a proven ability to grow faster than its underlying markets, product suppliers see HD Supply as a preferred distribution partner.",
    "output": "[Cause] its large and expanding customer base and a proven ability to grow faster than its underlying markets [Relation] cause [Effect] product suppliers see HD Supply as a preferred distribution partner",
    "gold": "[Cause] its large and expanding customer base and a proven ability to grow faster than its underlying markets [Relation] cause [Effect] product suppliers see HD Supply as a preferred distribution partner",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Our base scenario assumes that the bank's efficiency ratio eventually declines to about 52% as management realizes operating leverage from infrastructure investments and the BBVA acquisition helps push efficiency for PNC to the next level.",
    "output": "[Cause] management realizes operating leverage from infrastructure investments and the BBVA acquisition helps push efficiency for PNC to the next level [Relation] cause [Effect] the bank's efficiency ratio eventually declines to about 52%",
    "gold": "[Cause] management realizes operating leverage from infrastructure investments and the BBVA acquisition helps push efficiency for PNC to the next level [Relation] enable [Effect] the bank's efficiency ratio eventually declines to about 52%",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We think it is difficult for smaller chains to compete with Ulta because they cannot gain access to prestige beauty brands or new items.",
    "output": "[Cause] they cannot gain access to prestige beauty brands or new items [Relation] cause [Effect] it is difficult for smaller chains to compete with Ulta",
    "gold": "[Cause] they cannot gain access to prestige beauty brands or new items [Relation] cause [Effect] it is difficult for smaller chains to compete with Ulta",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In our view, developing software solutions should lower Cisco's development costs while recurring revenue growth should decrease its customer acquisition costs.",
    "output": "[Cause] developing software solutions [Relation] enable [Effect] lower Cisco's development costs",
    "gold": "[Cause] developing software solutions [Relation] cause [Effect] lower Cisco's development costs",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In our view, developing software solutions should lower Cisco's development costs while recurring revenue growth should decrease its customer acquisition costs.",
    "output": "[Cause] recurring revenue growth [Relation] cause [Effect] decrease its customer acquisition costs",
    "gold": "[Cause] recurring revenue growth [Relation] cause [Effect] decrease its customer acquisition costs",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We see little expansion opportunity in wireless service margins due to a competitive and regulatory environment that will limit opportunities to raise prices.",
    "output": "[Cause] a competitive and regulatory environment [Relation] cause [Effect] little expansion opportunity in wireless service margins",
    "gold": "[Cause] a competitive and regulatory environment [Relation] prevent [Effect] opportunities to raise prices",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We see little expansion opportunity in wireless service margins due to a competitive and regulatory environment that will limit opportunities to raise prices.",
    "output": "[Cause] a competitive and regulatory environment [Relation] cause [Effect] limit opportunities to raise prices",
    "gold": "[Cause]  little expansion opportunity in wireless service margins [Relation] cause [Effect] a competitive and regulatory environment that will limit opportunities to raise prices",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "While the Alliance (growth equity) and Bernstein (value equity) brands were tarnished by poor investment performance during the periods leading up to and following the 2008-09 financial crisis, the Sanford Bernstein brand remains well known and well respected for its research, especially in the institutional channel.",
    "output": "[Cause] poor investment performance during the periods leading up to and following the 2008-09 financial crisis [Relation] cause [Effect] the Alliance (growth equity) and Bernstein (value equity) brands were tarnished",
    "gold": "[Cause]  its research, especially in the institutional channel [Relation] enable [Effect] the Sanford Bernstein brand remains well known and well respected",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Telefonica has rebuilt much of its fixed-line infrastructure in recent years, replacing copper facilities with fiber optics, enabling far faster data speeds and improved reliability.",
    "output": "[Cause] replacing copper facilities with fiber optics [Relation] enable [Effect] far faster data speeds and improved reliability",
    "gold": "[Cause]  rebuilt much of its fixed-line infrastructure | replacing copper facilities with fiber optics [Relation] enable [Effect] far faster data speeds and improved reliability",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Fee income will be volatile in the short term due to the result of divestitures, the economic slowdown, and volatility within the mortgage market.",
    "output": "[Cause] the result of divestitures, the economic slowdown, and volatility within the mortgage market [Relation] cause [Effect] Fee income will be volatile in the short term",
    "gold": "[Cause]  the result of divestitures, the economic slowdown, and volatility within the mortgage market [Relation] cause [Effect] Fee income will be volatile in the short term",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "From the client perspective, Robert Half's large database of resumes increases the probability of filling an open role quickly, saving clients time and resources.",
    "output": "[Cause] Robert Half's large database of resumes increases the probability of filling an open role quickly [Relation] enable [Effect] saving clients time and resources",
    "gold": "[Cause] Robert Half's large database of resumes increases the probability of filling an open role quickly [Relation] enable [Effect] saving clients time and resources",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Therefore, although regional price differentials for ferrous and nonferrous scrap are generally of a low magnitude, changes in regional supply and demand can cause short-term pricing discrepancies.",
    "output": "[Cause] changes in regional supply and demand [Relation] cause [Effect] short-term pricing discrepancies",
    "gold": "[Cause] changes in regional supply and demand [Relation] cause [Effect]  short-term pricing discrepancies",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Cumulatively, management expects organic revenue to grow about 4% to 6% annually, with the potential for margin improvement and capital allocation to boost EPS materially above that rate.",
    "output": "[Cause] the potential for margin improvement and capital allocation [Relation] enable [Effect] boost EPS materially above that rate",
    "gold": "[Cause] the potential for margin improvement and capital allocation [Relation] enable [Effect]  boost EPS materially above that rate",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Capital spending has been elevated in recent years as Telus brings fiber to the home over much of its network, but we believe that has reached an inflection point and is now trending down.",
    "output": "[Cause] Telus brings fiber to the home over much of its network [Relation] cause [Effect] Capital spending has been elevated in recent years",
    "gold": "[Cause] Telus brings fiber to the home over much of its network [Relation] enable [Effect] Capital spending has been elevated in recent years",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Since switching requires potentially retraining, retooling, and even relocating manufacturing, the cost of switching to marginally cheaper products that meet a similar reliability standard is extremely high for these customers both in terms of time, expense, and loss of revenue.",
    "output": "[Cause] switching requires potentially retraining, retooling, and even relocating manufacturing [Relation] cause [Effect] the cost of switching to marginally cheaper products that meet a similar reliability standard is extremely high for these customers both in terms of time, expense, and loss of revenue",
    "gold": "[Cause] switching requires potentially retraining, retooling, and even relocating manufacturing [Relation] cause [Effect] the cost of switching to marginally cheaper products that meet a similar reliability standard is extremely high for these customers both in terms of time, expense, and loss of revenue",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Teleflex growth and profit outlook is strong, in our opinion, with UroLift-led growth likely to keep the firm's growth in the mid- to upper-single-digit range over the next few years, and restructuring and transformation efforts should improve the firm's margin profile, which has generally trailed peers.",
    "output": "[Cause] UroLift-led growth [Relation] enable [Effect] keep the firm's growth in the mid- to upper-single-digit range over the next few years",
    "gold": "[Cause] restructuring and transformation efforts [Relation] enable [Effect] improve the firm's margin profile, which has generally trailed peers",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "These agencies implement regulation based on braking performance, including requirements for maximum stopping distance for passenger vehicles traveling at a certain speed, which indirectly affects brake pads when they are installed as original equipment.",
    "output": "[Cause] These agencies implement regulation based on braking performance, including requirements for maximum stopping distance for passenger vehicles traveling at a certain speed [Relation] cause [Effect] indirectly affects brake pads when they are installed as original equipment",
    "gold": "[Cause] These agencies implement regulation based on braking performance, including requirements for maximum stopping distance for passenger vehicles traveling at a certain speed [Relation] cause [Effect] indirectly affects brake pads when they are installed as original equipment",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "That said, the low level of balance sheet leverage is an advantage for Magna during periods of economic uncertainty like the current COVID-19 environment.",
    "output": "[Cause] the low level of balance sheet leverage [Relation] enable [Effect] Magna during periods of economic uncertainty like the current COVID-19 environment",
    "gold": "[Cause] periods of economic uncertainty like the current COVID-19 environment [Relation] enable [Effect] the low level of balance sheet leverage is an advantage for Magna",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Mortgage brokers are paid on settlements, hence are likely to recommend lenders which increase the likelihood of a timely loan approval.",
    "output": "[Cause] Mortgage brokers are paid on settlements [Relation] cause [Effect] recommend lenders which increase the likelihood of a timely loan approval",
    "gold": "[Cause] Mortgage brokers are paid on settlements [Relation] cause [Effect] recommend lenders which increase the likelihood of a timely loan approval",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "With the improvements already realized, future earnings growth, and a strong competitive position, we expect downstream returns to improve to 11% during 2020-24 despite current headwinds compared with 7% during 2010-14.",
    "output": "[Cause] the improvements already realized, future earnings growth, and a strong competitive position [Relation] cause [Effect] downstream returns to improve to 11% during 2020-24 despite current headwinds compared with 7% during 2010-14",
    "gold": "[Cause] the improvements already realized, future earnings growth, and a strong competitive position [Relation] enable [Effect] downstream returns to improve to 11% during 2020-24 despite current headwinds compared with 7% during 2010-14",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The company's AspenOne software platform helps improve process-oriented plant efficiency, and thereby lower capital intensity, increase working capital efficiency, and improve margins.",
    "output": "[Cause] The company's AspenOne software platform helps improve process-oriented plant efficiency [Relation] cause [Effect] lower capital intensity, increase working capital efficiency, and improve margins",
    "gold": "[Cause] The company's AspenOne software platform helps improve process-oriented plant efficiency [Relation] cause [Effect] lower capital intensity, increase working capital efficiency, and improve margins",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We forecast a compound annual growth rate of 12% for the next five years, which has the company surpassing its goal of $2 billion in revenue in 2022, when cloud will represent 60% of revenue.",
    "output": "[Cause] a compound annual growth rate of 12% for the next five years [Relation] enable [Effect] the company surpassing its goal of $2 billion in revenue in 2022, when cloud will represent 60% of revenue",
    "gold": "[Cause] We forecast a compound annual growth rate of 12% for the next five years [Relation] enable [Effect]  has the company surpassing its goal of $2 billion in revenue in 2022",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Still, lower allowed returns or political pushback on Atmos' favorable rate mechanisms would cause the company significant pain, especially in Texas, its largest service territory.",
    "output": "[Cause] lower allowed returns or political pushback on Atmos' favorable rate mechanisms [Relation] cause [Effect] the company significant pain",
    "gold": "[Cause] lower allowed returns or political pushback on Atmos' favorable rate mechanisms [Relation] cause [Effect]  the company significant pain",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Stryker continues to pursue its strategy of augmenting internal innovation with acquisitions of specific technology, including Patient Safety Technologies, Small Bone Innovations, Sage, Mako, and K2M.",
    "output": "[Cause] acquisitions of specific technology [Relation] enable [Effect] Stryker continues to pursue its strategy of augmenting internal innovation",
    "gold": "[Cause]  acquisitions of specific technology [Relation] enable [Effect] Stryker continues to pursue its strategy of augmenting internal innovation",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "As consumers become increasingly averse to captive ecosystems in general, we think brands will continue to be more and more willing to partner with different pod makers, which should reduce the primacy of the partnership ecosystem to the overall competitive dynamic.",
    "output": "[Cause] consumers become increasingly averse to captive ecosystems in general [Relation] cause [Effect] brands will continue to be more and more willing to partner with different pod makers",
    "gold": "[Cause]  consumers become increasingly averse to captive ecosystems in general [Relation] cause [Effect] brands will continue to be more and more willing to partner with different pod makers",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "As consumers become increasingly averse to captive ecosystems in general, we think brands will continue to be more and more willing to partner with different pod makers, which should reduce the primacy of the partnership ecosystem to the overall competitive dynamic.",
    "output": "[Cause] brands will continue to be more and more willing to partner with different pod makers [Relation] cause [Effect] reduce the primacy of the partnership ecosystem to the overall competitive dynamic",
    "gold": "[Cause] brands will continue to be more and more willing to partner with different pod makers [Relation] cause [Effect] reduce the primacy of the partnership ecosystem to the overall competitive dynamic",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "According to a ''''''''Successful Farming'''''''' report of top 2020 pork producers in the U.S., Tyson was listed as the 14th largest, which we view as too small to warrant a scale-driven cost advantage.",
    "output": "[Cause] Tyson was listed as the 14th largest [Relation] cause [Effect] too small to warrant a scale-driven cost advantage",
    "gold": "[Cause]  too small to warrant a scale-driven cost advantage [Relation] cause [Effect] Tyson was listed as the 14th largest",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "However, we don't see any long-term industry trends that will impede Visa's ability to maintain its growth in the coming years, and the scalability of the business should still allow the company to modestly expand its already ample margins over time.",
    "output": "[Cause] the scalability of the business [Relation] enable [Effect] the company to modestly expand its already ample margins over time",
    "gold": "[Cause] the scalability of the business [Relation] enable [Effect] the company to modestly expand its already ample margins over time",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Likewise, we believe micro- or small-cap companies have only a fraction of the shareholders, so they face fees of $20,000-$50,000.",
    "output": "[Cause] micro- or small-cap companies have only a fraction of the shareholders [Relation] cause [Effect] they face fees of $20,000-$50,000",
    "gold": "[Cause]  micro- or small-cap companies have only a fraction of the shareholders [Relation] cause [Effect] they face fees of $20,000-$50,000",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "But a review of storm-related power outages in 2020 led regulators to impose harsh penalties that will slow earnings growth in 2021-22 and depress returns for many years.",
    "output": "[Cause] a review of storm-related power outages in 2020 [Relation] cause [Effect] regulators to impose harsh penalties",
    "gold": "[Cause] [Relation] prevent [Effect] slow earnings growth in 2021-22 and depress returns for many years",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "From our perspective, insurance and annuities are very mature, and insurance products are mostly commodities that can be replicated by a competitor fairly easily.",
    "output": "[Cause] insurance and annuities are very mature [Relation] cause [Effect] insurance products are mostly commodities that can be replicated by a competitor fairly easily",
    "gold": "[Cause] insurance products are mostly commodities [Relation] cause [Effect] can be replicated by a competitor fairly easily",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Enterprise's major risk is a decline in natural gas liquids demand, as its NGL business makes up over 50% of the partnership's gross operating margin today.",
    "output": "[Cause] its NGL business makes up over 50% of the partnership's gross operating margin today [Relation] cause [Effect] Enterprise's major risk is a decline in natural gas liquids demand",
    "gold": "[Cause] its NGL business makes up over 50% of the partnership's gross operating margin today [Relation] cause [Effect] Enterprise's major risk is a decline in natural gas liquids demand",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We are raising our fair value estimate to $505 per share from $400 per share, as we incorporate a substantially stronger near-term outlook for wafer fab equipment spending in 2021.",
    "output": "[Cause] we incorporate a substantially stronger near-term outlook for wafer fab equipment spending in 2021 [Relation] cause [Effect] We are raising our fair value estimate to $505 per share from $400 per share",
    "gold": "[Cause] we incorporate a substantially stronger near-term outlook for wafer fab equipment spending in 2021 [Relation] cause [Effect] We are raising our fair value estimate to $505 per share from $400 per share",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "If Western isn't able to strike a deal, it could be left with a fringe market share, and we think its ability to compete would suffer.",
    "output": "[Cause] Western isn't able to strike a deal [Relation] cause [Effect] it could be left with a fringe market share",
    "gold": "[Cause] Western isn't able to strike a deal [Relation] cause [Effect] left with a fringe market share | ability to compete would suffer",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Failure of the tailings dam at Vale's Corrego de Feijao iron ore mine in Brazil in January 2019 brought environmental and humanitarian liabilities for Vale, and potentially impact its social licence in the near to medium term.",
    "output": "[Cause] Failure of the tailings dam at Vale's Corrego de Feijao iron ore mine in Brazil in January 2019 [Relation] cause [Effect] environmental and humanitarian liabilities for Vale",
    "gold": "[Cause] Failure of the tailings dam at Vale's Corrego de Feijao iron ore mine in Brazil in January 2019 [Relation] cause [Effect] environmental and humanitarian liabilities for Vale",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Failure of the tailings dam at Vale's Corrego de Feijao iron ore mine in Brazil in January 2019 brought environmental and humanitarian liabilities for Vale, and potentially impact its social licence in the near to medium term.",
    "output": "[Cause] Failure of the tailings dam at Vale's Corrego de Feijao iron ore mine in Brazil in January 2019 [Relation] cause [Effect] environmental and humanitarian liabilities for Vale",
    "gold": "[Cause] Failure of the tailings dam at Vale's Corrego de Feijao iron ore mine in Brazil in January 2019 [Relation] cause [Effect] potentially impact its social licence in the near to medium term",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "But with its stores remaining open and serving essential needs, we do not believe the outbreak presents Dollar Tree with anything near the existential threat it does for other retailers.",
    "output": "[Cause] its stores remaining open and serving essential needs [Relation] cause [Effect] we do not believe the outbreak presents Dollar Tree with anything near the existential threat it does for other retailers",
    "gold": "[Cause] its stores remaining open and serving essential needs [Relation] cause [Effect] we do not believe the outbreak presents Dollar Tree with anything near the existential threat it does for other retailers",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "If materials science interactions predicted in Dassault Systemes software prove faulty, animal or human testing of a drug could imply serious results, and longer drug cycle times.",
    "output": "[Cause] materials science interactions predicted in Dassault Systemes software prove faulty [Relation] cause [Effect] animal or human testing of a drug could imply serious results, and longer drug cycle times",
    "gold": "[Cause] materials science interactions predicted in Dassault Systemes software prove faulty [Relation] cause [Effect] animal or human testing of a drug could imply serious results, and longer drug cycle times",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "While it is expected to produce revenue growth at the high end of peers and the premium may be justified, higher absolute valuation levels offer less room for missteps and therefore carry greater inherent risks, in our opinion.",
    "output": "[Cause] higher absolute valuation levels offer less room for missteps [Relation] cause [Effect] carry greater inherent risks",
    "gold": "[Cause] higher absolute valuation levels offer less room for missteps [Relation] cause [Effect] carry greater inherent risks",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "While we expect this initial wave of new supply to be absorbed by significant demand growth and help moderate the market, increased new supply will pressure operations and asset values.",
    "output": "[Cause] increased new supply [Relation] cause [Effect] pressure operations and asset values",
    "gold": "[Cause] increased new supply [Relation] cause [Effect] pressure operations and asset values",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Our expectations for Sartorius, and especially the exposure to high-growth biopharma, is meaningful for Bio-Rad, and if Sartorius exceeds our expectations, the investment could account for a greater portion of valuation over time.",
    "output": "[Cause] Sartorius exceeds our expectations [Relation] cause [Effect] the investment could account for a greater portion of valuation over time",
    "gold": "[Cause] Sartorius exceeds our expectations [Relation] cause [Effect] the investment could account for a greater portion of valuation over time",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Of painting contractor costs, 80%-90% is labor and just 10%-20% is paint, so contractors are not especially price-sensitive about paint costs.",
    "output": "[Cause] Of painting contractor costs, 80%-90% is labor and just 10%-20% is paint [Relation] cause [Effect] contractors are not especially price-sensitive about paint costs",
    "gold": "[Cause] Of painting contractor costs, 80%-90% is labor and just 10%-20% is paint [Relation] cause [Effect] contractors are not especially price-sensitive about paint costs",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "As the firm gains more listeners, leading to more hours of content consumed, we think it can attract more advertisers, generating more ad dollars.",
    "output": "[Cause] the firm gains more listeners [Relation] cause [Effect] more hours of content consumed",
    "gold": "[Cause]  the firm gains more listeners [Relation] cause [Effect]  more hours of content consumed",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "As the firm gains more listeners, leading to more hours of content consumed, we think it can attract more advertisers, generating more ad dollars.",
    "output": "[Cause] more hours of content consumed [Relation] cause [Effect] attract more advertisers, generating more ad dollars",
    "gold": "[Cause]  more hours of content consumed [Relation] enable [Effect]  attract more advertisers, generating more ad dollars",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Through the first three quarters of 2020, Kellogg saw a 7% jump in organic sales (including just less than 7% gains in North America, 60% of sales), entirely from higher volume.",
    "output": "[Cause] higher volume [Relation] cause [Effect] Kellogg saw a 7% jump in organic sales",
    "gold": "[Cause] higher volume [Relation] enable [Effect] Kellogg saw a 7% jump in organic sales",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "It remains unclear whether canning or beverage/food companies would bear the burden of a definitive link between BPA and health issues, as cans are made to client specifications.",
    "output": "[Cause] cans are made to client specifications [Relation] cause [Effect] It remains unclear whether canning or beverage/food companies would bear the burden of a definitive link between BPA and health issues",
    "gold": "[Cause] cans are made to client specifications [Relation] cause [Effect] It remains unclear whether canning or beverage/food companies would bear the burden of a definitive link between BPA and health issues",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The company's reorganization plans in response to regulatory issues creates some uncertainty, as MetLife has divested a substantial portion of its operations.",
    "output": "[Cause] MetLife has divested a substantial portion of its operations [Relation] cause [Effect] The company's reorganization plans in response to regulatory issues creates some uncertainty",
    "gold": "[Cause] MetLife has divested a substantial portion of its operations [Relation] cause [Effect] The company's reorganization plans in response to regulatory issues creates some uncertainty",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The most pressing risk PFG faces is the pandemic, which resulted in a 7% drop in organic sales in fiscal 2020, and about $45 million in bad debt expense.",
    "output": "[Cause] The most pressing risk PFG faces is the pandemic [Relation] cause [Effect] a 7% drop in organic sales in fiscal 2020, and about $45 million in bad debt expense",
    "gold": "[Cause] The most pressing risk PFG faces is the pandemic [Relation] cause [Effect] a 7% drop in organic sales in fiscal 2020, and about $45 million in bad debt expense",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Marsh & McLennan's largest cost component is employee compensation, which could lead to pressure on margins if labor conditions grew tight, and any large-scale employee defections could damage the business.",
    "output": "[Cause] large-scale employee defections [Relation] cause [Effect] damage the business",
    "gold": "[Cause] labor conditions grew tight [Relation] cause [Effect] pressure on margins",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Cummins' strong product performance empowers customers to lower the total cost of their operations. This dynamic allows the company to thrive in a highly competitive industry, which in most cases calls for Cummins to compete directly with its own customers, truck manufacturers.",
    "output": "[Cause] Cummins' strong product performance empowers customers to lower the total cost of their operations [Relation] enable [Effect] the company to thrive in a highly competitive industry, which in most cases calls for Cummins to compete directly with its own customers, truck manufacturers",
    "gold": "[Cause] Cummins' strong product performance empowers customers to lower the total cost of their operations [Relation] enable [Effect] the company to thrive in a highly competitive industry, which in most cases calls for Cummins to compete directly with its own customers, truck manufacturers",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Although Dell Technologies has substantial exposure to commoditized markets and carries considerable financial leverage, we believe synergistic opportunities across its brands should drive success as businesses migrate to hybrid cloud IT infrastructures.",
    "output": "[Cause] businesses migrate to hybrid cloud IT infrastructures [Relation] cause [Effect] synergistic opportunities across its brands should drive success",
    "gold": "[Cause] carries considerable financial leverage | substantial exposure to commoditized markets [Relation] prevent [Effect] drive success as businesses migrate to hybrid cloud IT infrastructures",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Although Dell Technologies has substantial exposure to commoditized markets and carries considerable financial leverage, we believe synergistic opportunities across its brands should drive success as businesses migrate to hybrid cloud IT infrastructures.",
    "output": "[Cause] businesses migrate to hybrid cloud IT infrastructures [Relation] enable [Effect] synergistic opportunities across its brands should drive success",
    "gold": "[Cause] synergistic opportunities across its brands [Relation] enable [Effect] drive success as businesses migrate to hybrid cloud IT infrastructures",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "In addition, like all oilfield service firms, the firm is exposed to a range of potential environmental, social, and governance issues that could hurt its ability to generate strong returns.",
    "output": "[Cause] the firm is exposed to a range of potential environmental, social, and governance issues [Relation] cause [Effect] hurt its ability to generate strong returns",
    "gold": "[Cause] the firm is exposed to a range of potential environmental, social, and governance issues [Relation] enable [Effect] hurt its ability to generate strong returns",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Moreover, a number of Sonoco's major customers such as Kraft Heinz have undergone changes in their corporate structures, which may adversely affect longer-term relationships with the company.",
    "output": "[Cause] a number of Sonoco's major customers such as Kraft Heinz have undergone changes in their corporate structures [Relation] cause [Effect] adversely affect longer-term relationships with the company",
    "gold": "[Cause] a number of Sonoco's major customers such as Kraft Heinz have undergone changes in their corporate structures [Relation] cause [Effect] adversely affect longer-term relationships with the company",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We expect solid recovery in 2021, with revenue rising 8%-9% on solid intermodal growth (aided by robust retailer restocking), new automotive end-market business, and industrial end-market improvement.",
    "output": "[Cause] solid intermodal growth (aided by robust retailer restocking), new automotive end-market business, and industrial end-market improvement [Relation] enable [Effect] solid recovery in 2021, with revenue rising 8%-9%",
    "gold": "[Cause]  robust retailer restocking [Relation] enable [Effect]  revenue rising 8%-9% on solid intermodal growth",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "To develop sufficient scale, Square must move past its micro merchant base, and recent results suggest it is doing just that.",
    "output": "[Cause] Square must move past its micro merchant base [Relation] enable [Effect] develop sufficient scale",
    "gold": "[Cause] develop sufficient scale [Relation] cause [Effect]  Square must move past its micro merchant base",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Consumers have limited discretionary dollars to spend, and as fashions and trends cycle, there could be a disproportionate impact on Activision's cash flow.",
    "output": "[Cause] fashions and trends cycle [Relation] cause [Effect] Consumers have limited discretionary dollars to spend",
    "gold": "[Cause] Consumers have limited discretionary dollars to spend [Relation] cause [Effect] a disproportionate impact on Activision's cash flow",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Consumers have limited discretionary dollars to spend, and as fashions and trends cycle, there could be a disproportionate impact on Activision's cash flow.",
    "output": "[Cause] fashions and trends cycle [Relation] cause [Effect] a disproportionate impact on Activision's cash flow",
    "gold": "[Cause]  fashions and trends cycle [Relation] cause [Effect] a disproportionate impact on Activision's cash flow",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We assume about 1.6% average selling price growth through 2030 as pricing power is partially offset by Lennar's continued mix shift to lower-priced entry-level homes.",
    "output": "[Cause] Lennar's continued mix shift to lower-priced entry-level homes [Relation] cause [Effect] pricing power is partially offset",
    "gold": "[Cause] pricing power is partially offset by Lennar's continued mix shift to lower-priced entry-level homes [Relation] cause [Effect] 1.6% average selling price growth through 2030",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Finally, it is possible that Gentex could be put out of the automotive supply chain if governments start allowing camera technology to replace all types of mirrors in a vehicle, as Europe and Japan now do under UN-ECE Regulation 46.",
    "output": "[Cause] governments start allowing camera technology to replace all types of mirrors in a vehicle [Relation] cause [Effect] Gentex could be put out of the automotive supply chain",
    "gold": "[Cause]  governments start allowing camera technology to replace all types of mirrors in a vehicle [Relation] cause [Effect] Gentex could be put out of the automotive supply chain",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Meanwhile, continued decreases in square footage per employee could have a negative effect on demand for office space, although we think this dynamic has largely played out.",
    "output": "[Cause] continued decreases in square footage per employee [Relation] cause [Effect] have a negative effect on demand for office space",
    "gold": "[Cause] continued decreases in square footage per employee [Relation] cause [Effect] have a negative effect on demand for office space",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Management has indicated there will be a focus on bringing leverage even further down, and without large acquisitions, we believe successful deleveraging is a reasonable outcome.",
    "output": "[Cause] without large acquisitions [Relation] cause [Effect] successful deleveraging is a reasonable outcome",
    "gold": "[Cause] successful deleveraging is a reasonable outcome [Relation] cause [Effect] without large acquisitions",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "In fiscal 2020, Malibu's EBITDA margin was 17%, comparable to Mastercraft's 17%, so further EBITDA expansion could indicate integrated engines have helped give Malibu an edge over peers (we forecast an 20% adjusted EBITDA margin in fiscal 2021 helped by still-robust demand).",
    "output": "[Cause] In fiscal 2020, Malibu's EBITDA margin was 17%, comparable to Mastercraft's 17% [Relation] cause [Effect] further EBITDA expansion could indicate integrated engines have helped give Malibu an edge over peers",
    "gold": "[Cause] still-robust demand [Relation] cause [Effect] we forecast an 20% adjusted EBITDA margin in fiscal 2021",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "In fiscal 2020, Malibu's EBITDA margin was 17%, comparable to Mastercraft's 17%, so further EBITDA expansion could indicate integrated engines have helped give Malibu an edge over peers (we forecast an 20% adjusted EBITDA margin in fiscal 2021 helped by still-robust demand).",
    "output": "[Cause] still-robust demand [Relation] cause [Effect] an 20% adjusted EBITDA margin in fiscal 2021",
    "gold": "[Cause] further EBITDA expansion [Relation] cause [Effect]  integrated engines have helped give Malibu an edge over peers",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Moreover, the crisis forced the suspension of nearly all amateur and professional sports, causing a drop in demand for some of Under Armour's athletic gear.",
    "output": "[Cause] the crisis [Relation] cause [Effect] a drop in demand for some of Under Armour's athletic gear",
    "gold": "[Cause] the suspension of nearly all amateur and professional sports [Relation] cause [Effect] a drop in demand for some of Under Armour's athletic gear",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "With the purchase of the Fox entertainment assets, Disney has enhanced its pay-television network lineup by adding multiple channels with strong appeal to adults.\",positiv",
    "output": "[Cause] the purchase of the Fox entertainment assets [Relation] enable [Effect] Disney has enhanced its pay-television network lineup by adding multiple channels with strong appeal to adults",
    "gold": "[Cause] the purchase of the Fox entertainment assets [Relation] enable [Effect] Disney has enhanced its pay-television network lineup by adding multiple channels with strong appeal to adults",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "To grow alongside the rise in offloading workloads and storage to the cloud, NetApp is keenly focusing resources on developing software for cloud-based data management and storage.",
    "output": "[Cause] NetApp is keenly focusing resources on developing software for cloud-based data management and storage [Relation] enable [Effect] grow alongside the rise in offloading workloads and storage to the cloud",
    "gold": "[Cause] To grow alongside the rise in offloading workloads and storage to the cloud [Relation] cause [Effect]  NetApp is keenly focusing resources on developing software for cloud-based data management and storage",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We believe that enabling access management and protecting networks from malicious actors based upon identity credentials are cornerstones of cybersecurity, and that the dissipation of a distinct security perimeter could make security teams further rely on user-based cybersecurity.",
    "output": "[Cause] the dissipation of a distinct security perimeter [Relation] enable [Effect] make security teams further rely on user-based cybersecurity",
    "gold": "[Cause] the dissipation of a distinct security perimeter [Relation] cause [Effect] make security teams further rely on user-based cybersecurity",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "While many of the segments Caterpillar operates in are highly competitive, we believe its strategy of investing in optimal product design coupled with strong brand development places it far ahead of the competition.",
    "output": "[Cause] its strategy of investing in optimal product design coupled with strong brand development [Relation] enable [Effect] places it far ahead of the competition",
    "gold": "[Cause] its strategy of investing in optimal product design coupled with strong brand development [Relation] enable [Effect] places it far ahead of the competition",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "That being said, we think Linde can fuel additional revenue growth through investments in new on-site projects, asset buybacks, as well as newer opportunities in carbon capture and green hydrogen.",
    "output": "[Cause] investments in new on-site projects, asset buybacks, as well as newer opportunities in carbon capture and green hydrogen [Relation] enable [Effect] Linde can fuel additional revenue growth",
    "gold": "[Cause]  investments in new on-site projects, asset buybacks, as well as newer opportunities in carbon capture and green hydrogen [Relation] enable [Effect] Linde can fuel additional revenue growth",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "As we have seen in the past, firms that rely on their reputations and trustworthiness are especially vulnerable to the possible unethical or illegal activities of its employees.",
    "output": "[Cause] firms that rely on their reputations and trustworthiness [Relation] cause [Effect] vulnerable to the possible unethical or illegal activities of its employees",
    "gold": "[Cause] the possible unethical or illegal activities of its employees [Relation] prevent [Effect]  their reputations and trustworthiness",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We are increasing our fair value estimate to $113 per share from $106 after incorporating better-than-expected third-quarter 2020 results, updating our assumptions for the impact of the coronavirus, and due to the time value of money.",
    "output": "[Cause] the time value of money [Relation] cause [Effect] increasing our fair value estimate to $113 per share from $106 after incorporating better-than-expected third-quarter 2020 results, updating our assumptions for the impact of the coronavirus",
    "gold": "[Cause] updating our assumptions for the impact of the coronavirus, and due to the time value of money [Relation] enable [Effect] We are increasing our fair value estimate to $113 per share from $106 after incorporating better-than-expected third-quarter 2020 results",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "While Coty is the world's largest provider of fragrance, we suspect that the firm's lack of dominance in prestige skin care and makeup limits Coty's ability to reach preferred vendor status with department stores and travel retail operators.",
    "output": "[Cause] the firm's lack of dominance in prestige skin care and makeup [Relation] prevent [Effect] Coty's ability to reach preferred vendor status with department stores and travel retail operators",
    "gold": "[Cause] the firm's lack of dominance in prestige skin care and makeup [Relation] prevent [Effect] Coty's ability to reach preferred vendor status with department stores and travel retail operators",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In particular, we suspect management has made the deliberate decision to focus on gaining market share, at the expense of profitability.",
    "output": "[Cause] the expense of profitability [Relation] cause [Effect] management has made the deliberate decision to focus on gaining market share",
    "gold": "[Cause] focus on gaining market share, at the expense of profitability [Relation] cause [Effect] we suspect management has made the deliberate decision",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "However, we expect customers will prove more price-sensitive than in the past, as competitors like Disney+ are already undercutting Netflix's prices.",
    "output": "[Cause] competitors like Disney+ are already undercutting Netflix's prices [Relation] cause [Effect] customers will prove more price-sensitive than in the past",
    "gold": "[Cause] competitors like Disney+ are already undercutting Netflix's prices [Relation] cause [Effect] customers will prove more price-sensitive than in the past",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "This contractual dynamic results in suppliers' focus on lean manufacturing practices like Six Sigma, Kaizen, and Kanban just to partially offset potential margin erosion.",
    "output": "[Cause] suppliers' focus on lean manufacturing practices like Six Sigma, Kaizen, and Kanban [Relation] prevent [Effect] potential margin erosion",
    "gold": "[Cause] This contractual dynamic [Relation] cause [Effect] suppliers' focus on lean manufacturing practices like Six Sigma, Kaizen, and Kanban just to partially offset potential margin erosion",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Xcel is offsetting some of the rising investment costs with lower supply costs from lower natural gas and renewable energy prices.",
    "output": "[Cause] lower supply costs from lower natural gas and renewable energy prices [Relation] cause [Effect] Xcel is offsetting some of the rising investment costs",
    "gold": "[Cause] Xcel is offsetting some of the rising investment costs [Relation] enable [Effect] supply costs from lower natural gas and renewable energy prices",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Operational risks involve potential difficulty turning a profit because of high sales expenses and research and development costs that could be required to keep up with the competition.",
    "output": "[Cause] high sales expenses and research and development costs that could be required to keep up with the competition [Relation] cause [Effect] Operational risks involve potential difficulty turning a profit",
    "gold": "[Cause]  high sales expenses and research [Relation] cause [Effect] development costs that could be required to keep up with the competition",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "While we believe Wayfair benefits from low overhead thanks to its almost 100% online presence, we still see higher customer acquisition cost risk as rivals, including other online players like Amazon, push harder into the home improvement and furnishing categories.",
    "output": "[Cause] its almost 100% online presence [Relation] cause [Effect] Wayfair benefits from low overhead",
    "gold": "[Cause] rivals, including other online players like Amazon, push harder into the home improvement and furnishing categories [Relation] cause [Effect] higher customer acquisition cost risk",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "While we believe Wayfair benefits from low overhead thanks to its almost 100% online presence, we still see higher customer acquisition cost risk as rivals, including other online players like Amazon, push harder into the home improvement and furnishing categories.",
    "output": "[Cause] rivals, including other online players like Amazon, push harder into the home improvement and furnishing categories [Relation] cause [Effect] higher customer acquisition cost risk",
    "gold": "[Cause] its almost 100% online presence [Relation] enable [Effect] Wayfair benefits from low overhead",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "There's little chance of outspending unless oil prices stay well below our midcycle estimate of $55 per barrel, and in that scenario, Diamondback would still be better off than most of its peers due to its highly competitive cost structure.",
    "output": "[Cause] its highly competitive cost structure [Relation] cause [Effect] Diamondback would still be better off than most of its peers",
    "gold": "[Cause]  its highly competitive cost structure [Relation] cause [Effect]  Diamondback would still be better off than most of its peers",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Leveraging inventories held at distribution centers across a network of stores allows chains to provide a large catalog of readily available parts while maximizing the opportunities to sell infrequently purchased components.",
    "output": "[Cause] Leveraging inventories held at distribution centers across a network of stores [Relation] enable [Effect] chains to provide a large catalog of readily available parts while maximizing the opportunities to sell infrequently purchased components",
    "gold": "[Cause] Leveraging inventories held at distribution centers across a network of stores [Relation] enable [Effect] chains to provide a large catalog of readily available parts while maximizing the opportunities to sell infrequently purchased components",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Since the leading vendors' technological differences are minute for mass volume PCs, in our view, a possibility within the highly competitive market is that commercial computer purchases, or DaaS vendor choices, may solely depend on procurement teams.",
    "output": "[Cause] the leading vendors' technological differences are minute for mass volume PCs [Relation] cause [Effect] a possibility within the highly competitive market is that commercial computer purchases, or DaaS vendor choices, may solely depend on procurement teams",
    "gold": "[Cause] procurement teams [Relation] cause [Effect] commercial computer purchases, or DaaS vendor choices",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "As a part of the process, Zillow must hold unsold homes as inventory, which would represent a significant risk should the pace of home sales slow in a downturn.",
    "output": "[Cause] the pace of home sales slow in a downturn [Relation] cause [Effect] a significant risk",
    "gold": "[Cause] Zillow must hold unsold homes as inventory [Relation] prevent [Effect] represent a significant risk",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Unconstructive regulatory decisions are more likely in a period of rising electricity rates, an event that would likely occur with increasing natural gas prices and coal and nuclear plant retirements.",
    "output": "[Cause] rising electricity rates [Relation] cause [Effect] Unconstructive regulatory decisions are more likely",
    "gold": "[Cause] increasing natural gas prices and coal [Relation] cause [Effect] Unconstructive regulatory decisions",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Intel initially developed x86 in 1978 and licensed the architecture to AMD, in order to satisfy conditions from IBM that required a second source of chips.",
    "output": "[Cause] satisfy conditions from IBM that required a second source of chips [Relation] cause [Effect] Intel initially developed x86 in 1978 and licensed the architecture to AMD",
    "gold": "[Cause] Intel initially developed x86 in 1978 and licensed the architecture to AMD [Relation] enable [Effect] satisfy conditions from IBM",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "The COVID-19 pandemic in 2020 forced the temporary closures of Under Armour's stores and those of many of its retail partners.",
    "output": "[Cause] The COVID-19 pandemic in 2020 [Relation] cause [Effect] the temporary closures of Under Armour's stores and those of many of its retail partners",
    "gold": "[Cause] The COVID-19 pandemic in 2020 [Relation] cause [Effect] the temporary closures of Under Armour's stores and those of many of its retail partners",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "During our five-year explicit forecast period, we apply an average annual decline of roughly 0.2% for steel shipment volumes, due to a gradual demand decrease in its end markets.",
    "output": "[Cause] a gradual demand decrease in its end markets [Relation] cause [Effect] we apply an average annual decline of roughly 0.2% for steel shipment volumes",
    "gold": "[Cause]  a gradual demand decrease in its end markets [Relation] cause [Effect] we apply an average annual decline of roughly 0.2% for steel shipment volumes",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "With the emergence of domestic light crude discounts it pivoted to processing greater amounts of high-quality discounted domestic crude by substituting domestic for imported crude, constructing additional light crude processing capacity and investing in transportation infrastructure.",
    "output": "[Cause] the emergence of domestic light crude discounts [Relation] cause [Effect] processing greater amounts of high-quality discounted domestic crude",
    "gold": "[Cause] the emergence of domestic light crude discounts [Relation] cause [Effect]  processing greater amounts of high-quality discounted domestic crude",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "With the emergence of domestic light crude discounts it pivoted to processing greater amounts of high-quality discounted domestic crude by substituting domestic for imported crude, constructing additional light crude processing capacity and investing in transportation infrastructure.",
    "output": "[Cause] substituting domestic for imported crude, constructing additional light crude processing capacity and investing in transportation infrastructure [Relation] enable [Effect] processing greater amounts of high-quality discounted domestic crude",
    "gold": "[Cause] substituting domestic for imported crude, constructing additional light crude processing capacity and investing in transportation infrastructure [Relation] enable [Effect]  processing greater amounts of high-quality discounted domestic crude",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Maritime revenue will be boosted by the Astute and Dreadnought submarine projects to the Royal Navy and Type 26 frigates deliveries to the Australian Navy.",
    "output": "[Cause] the Astute and Dreadnought submarine projects to the Royal Navy and Type 26 frigates deliveries to the Australian Navy [Relation] enable [Effect] Maritime revenue will be boosted",
    "gold": "[Cause] [Relation] enable [Effect] the Astute and Dreadnought submarine projects to the Royal Navy and Type 26 frigates deliveries to the Australian Navy | Maritime revenue will be boosted",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "DocuSign's vision is to modernize the contracting process by taking it from a disjointed and paper-based manual sequence of steps to an automated digital and collaborative system.",
    "output": "[Cause] DocuSign's vision is to modernize the contracting process by taking it from a disjointed and paper-based manual sequence of steps to an automated digital and collaborative system [Relation] enable [Effect] taking it from a disjointed and paper-based manual sequence of steps to an automated digital and collaborative system",
    "gold": "[Cause] taking it from a disjointed and paper-based manual sequence of steps to an automated digital and collaborative system [Relation] enable [Effect]  modernize the contracting process",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "However, this positive factor could be offset over the next two decades, as governments start to push for EV adoption, moving away from ICE vehicles.",
    "output": "[Cause] governments start to push for EV adoption, moving away from ICE vehicles [Relation] cause [Effect] this positive factor could be offset over the next two decades",
    "gold": "[Cause]  governments start to push for EV adoption, moving away from ICE vehicles [Relation] cause [Effect]  this positive factor could be offset over the next two decades",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Given our stronger revenue growth and profit margin expectations, we increased our stage two earnings before interest growth assumption to 8% from about 7% previously.",
    "output": "[Cause] our stronger revenue growth and profit margin expectations [Relation] cause [Effect] we increased our stage two earnings before interest growth assumption to 8% from about 7% previously",
    "gold": "[Cause] our stronger revenue growth and profit margin expectations [Relation] cause [Effect] we increased our stage two earnings before interest growth assumption to 8% from about 7% previously",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "This has allowed Monolithic to spend relatively less on capital investments than it otherwise would, helping buoy its margins and keeping engineering resources focused on its core competency: chip design.",
    "output": "[Cause] Monolithic to spend relatively less on capital investments than it otherwise would [Relation] enable [Effect] buoy its margins and keeping engineering resources focused on its core competency: chip design",
    "gold": "[Cause] Monolithic to spend relatively less on capital investments than it otherwise would [Relation] enable [Effect] buoy its margins and keeping engineering resources focused on its core competency: chip design",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Technology leading to cost savings matters because compressed air systems require huge expenditures of energy and costs that are often overlooked when calculating a plant's cost of production.",
    "output": "[Cause] compressed air systems require huge expenditures of energy and costs that are often overlooked when calculating a plant's cost of production [Relation] cause [Effect] Technology leading to cost savings matters",
    "gold": "[Cause] compressed air systems require huge expenditures of energy and costs that are often overlooked when calculating a plant's cost of production [Relation] cause [Effect] Technology leading to cost savings matters",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "With no sales presence, the company has no relationship to fall back on in the case of an unsatisfied customer.",
    "output": "[Cause] no sales presence [Relation] cause [Effect] the company has no relationship to fall back on in the case of an unsatisfied customer",
    "gold": "[Cause]  no sales presence [Relation] enable [Effect] the company has no relationship to fall back on in the case of an unsatisfied customer",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "While our 2025 projection comes in well above the previous normalized high-water margin mark of 29.9% set in 2013, we believe that the secular trend toward more high-margin digital full-game sales and microtransactions will more than offset the diminishing contribution from the high-margin World of Warcraft game.",
    "output": "[Cause] the secular trend toward more high-margin digital full-game sales and microtransactions [Relation] prevent [Effect] the diminishing contribution from the high-margin World of Warcraft game",
    "gold": "[Cause] the secular trend toward more high-margin digital full-game sales and microtransactions [Relation] prevent [Effect]  the diminishing contribution from the high-margin World of Warcraft game",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We believe these switching costs will likely increase with continued electrification and sensor connectivity, as design changes may require the replacement of whole sensor subsystems, rather than individual sensors for specific sockets.",
    "output": "[Cause] design changes may require the replacement of whole sensor subsystems, rather than individual sensors for specific sockets [Relation] cause [Effect] these switching costs will likely increase with continued electrification and sensor connectivity",
    "gold": "[Cause] design changes may require the replacement of whole sensor subsystems, rather than individual sensors for specific sockets [Relation] cause [Effect] these switching costs will likely increase with continued electrification and sensor connectivity",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In nutrition, we forecast operating margins to grow from around 7.5% in 2019 to over 12% in 2024 as the company sells a higher volume of premium-priced specialty ingredients.",
    "output": "[Cause] the company sells a higher volume of premium-priced specialty ingredients [Relation] cause [Effect] operating margins to grow from around 7.5% in 2019 to over 12% in 2024",
    "gold": "[Cause] the company sells a higher volume of premium-priced specialty ingredients [Relation] cause [Effect] operating margins to grow from around 7.5% in 2019 to over 12% in 2024",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Offshore wind likely holds the greatest opportunity for a firm to carve out a cost advantage given the greater complexity involved in operating in harsher environments, particularly compared with onshore solar.",
    "output": "[Cause] the greater complexity involved in operating in harsher environments, particularly compared with onshore solar [Relation] cause [Effect] Offshore wind likely holds the greatest opportunity for a firm to carve out a cost advantage",
    "gold": "[Cause] the greater complexity involved in operating in harsher environments, particularly compared with onshore solar [Relation] enable [Effect] Offshore wind likely holds the greatest opportunity for a firm to carve out a cost advantage",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "With delivery times creeping as low as 16-17 minutes in some markets, we note that it could legitimately be quicker to order a Domino's pizza than to pop a frozen one in the oven, a value proposition that competitors will find increasingly difficult to match.",
    "output": "[Cause] delivery times creeping as low as 16-17 minutes in some markets [Relation] cause [Effect] it could legitimately be quicker to order a Domino's pizza than to pop a frozen one in the oven",
    "gold": "[Cause] a Domino's pizza than to pop a frozen one in the oven [Relation] cause [Effect] a value proposition that competitors will find increasingly difficult to match",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Steadily rising Internet access pricing, including the elimination of bundle discounts, is important to maintaining cash flow as fewer customers take Comcast's television and telephone offerings.",
    "output": "[Cause] fewer customers take Comcast's television and telephone offerings [Relation] cause [Effect] Steadily rising Internet access pricing, including the elimination of bundle discounts, is important to maintaining cash flow",
    "gold": "[Cause] fewer customers take Comcast's television and telephone offerings [Relation] cause [Effect] Steadily rising Internet access pricing, including the elimination of bundle discounts, is important to maintaining cash flow",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Because of its size and geographic reach, Sinclair also sells advertising on a national basis to auto manufacturers, telecom firms, fast food restaurants, and retailers via their ad agencies.",
    "output": "[Cause] its size and geographic reach [Relation] cause [Effect] Sinclair also sells advertising on a national basis to auto manufacturers, telecom firms, fast food restaurants, and retailers via their ad agencies",
    "gold": "[Cause] its size and geographic reach [Relation] enable [Effect]  Sinclair also sells advertising on a national basis to auto manufacturers, telecom firms, fast food restaurants, and retailers via their ad agencies",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We expect NextEra to deliver at the top end of management's expectations, which was the main driver of our fair value increase.",
    "output": "[Cause] NextEra to deliver at the top end of management's expectations [Relation] enable [Effect] our fair value increase",
    "gold": "[Cause] NextEra to deliver at the top end of management's expectations [Relation] cause [Effect] our fair value increase",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "As consumers connect more devices in the home and stream higher-quality video content, we expect demand for superior capacity and reliability will only increase.",
    "output": "[Cause] consumers connect more devices in the home and stream higher-quality video content [Relation] cause [Effect] demand for superior capacity and reliability will only increase",
    "gold": "[Cause] consumers connect more devices in the home and stream higher-quality video content [Relation] cause [Effect] demand for superior capacity and reliability will only increase",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Combined with strong revenue growth, we expect slight deceleration of growth in other operating expenses to create operating leverage for Alphabet starting in 2022.",
    "output": "[Cause] slight deceleration of growth in other operating expenses [Relation] cause [Effect] create operating leverage for Alphabet starting in 2022",
    "gold": "[Cause] strong revenue growth [Relation] cause [Effect] slight deceleration of growth in other operating expenses to create operating leverage for Alphabet starting in 2022",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "The latter is achieved through the bank's long operational history and investments in China. As a result, HSBC is well positioned to capture economic growth in asset management, yuan internationalization, and consumer and corporate lending.",
    "output": "[Cause] The latter is achieved through the bank's long operational history and investments in China [Relation] cause [Effect] HSBC is well positioned to capture economic growth in asset management, yuan internationalization, and consumer and corporate lending",
    "gold": "[Cause] The latter is achieved through the bank's long operational history and investments in China [Relation] cause [Effect] HSBC is well positioned to capture economic growth in asset management, yuan internationalization, and consumer and corporate lending",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We also note that if PRA Health does not effectively utilize the Symphony acquisition and continue to invest in technology or next-generation processes, the firm is at risk of falling behind and losing share to more innovative CROs that can offer faster patient enrollment and shorter trial times.",
    "output": "[Cause] PRA Health does not effectively utilize the Symphony acquisition and continue to invest in technology or next-generation processes [Relation] cause [Effect] the firm is at risk of falling behind and losing share to more innovative CROs",
    "gold": "[Cause] PRA Health does not effectively utilize the Symphony acquisition and continue to invest in technology or next-generation processes [Relation] cause [Effect]  the firm is at risk of falling behind and losing share to more innovative CROs",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We also note that if PRA Health does not effectively utilize the Symphony acquisition and continue to invest in technology or next-generation processes, the firm is at risk of falling behind and losing share to more innovative CROs that can offer faster patient enrollment and shorter trial times.",
    "output": "[Cause] PRA Health does not effectively utilize the Symphony acquisition and continue to invest in technology or next-generation processes [Relation] cause [Effect] the firm is at risk of falling behind and losing share to more innovative CROs",
    "gold": "[Cause]  the firm is at risk of falling behind and losing share to more innovative CROs [Relation] cause [Effect] faster patient enrollment and shorter trial times",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Helicopters also have a decades-long product cycle, so we think that Airbus' installed base will be a secure revenue generator for years to come.",
    "output": "[Cause] Helicopters also have a decades-long product cycle [Relation] cause [Effect] Airbus' installed base will be a secure revenue generator for years to come",
    "gold": "[Cause] Helicopters also have a decades-long product cycle [Relation] cause [Effect] Airbus' installed base will be a secure revenue generator for years to come",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Fifth, the rising global cases of coronavirus could disrupt the supply chain (lower factory utilization) and near-term demand (brick-and-mortar closures) .",
    "output": "[Cause] the rising global cases of coronavirus [Relation] cause [Effect] disrupt the supply chain (lower factory utilization) and near-term demand (brick-and-mortar closures)",
    "gold": "[Cause] the rising global cases of coronavirus [Relation] enable [Effect] disrupt the supply chain (lower factory utilization) and near-term demand (brick-and-mortar closures)",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "This makes sense because a home sale is generally one of the largest transactions most consumers will engage in, meaning they are likelier to be more diligent and discerning regarding the process.",
    "output": "[Cause] a home sale is generally one of the largest transactions most consumers will engage in [Relation] cause [Effect] they are likelier to be more diligent and discerning regarding the process",
    "gold": "[Cause] a home sale is generally one of the largest transactions most consumers will engage in [Relation] cause [Effect] they are likelier to be more diligent and discerning regarding the process",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Though we have our doubts about Shaw's path to success, its insurgence alone could result in losses to the three leaders, and if it proves successful, long-term share and profitability losses for BCE could ensue.",
    "output": "[Cause] its insurgence alone [Relation] cause [Effect] losses to the three leaders",
    "gold": "[Cause] its insurgence alone could result in losses to the three leaders, and if it proves successful [Relation] prevent [Effect] long-term share and profitability losses for BCE could ensue",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Our expectations for how Infosys will fare in 2021 assume lower-than-usual revenue growth of near 5% as a result of COVID-19, followed by top-line growth of 13% in fiscal 2022 from a forecast recovery, and long-term midcycle growth of 10% per year thereafter.",
    "output": "[Cause] COVID-19 [Relation] cause [Effect] lower-than-usual revenue growth of near 5%",
    "gold": "[Cause] COVID-19 [Relation] cause [Effect] lower-than-usual revenue growth of near 5%",
    "valid": true,
    "tag": "em"
  },
  {
    "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 10% in the company's fiscal third quarter ending March (compared with 7% for competitor Mastercraft).",
    "output": "[Cause] Continued innovation [Relation] enable [Effect] increase pricing power",
    "gold": "[Cause] Continued innovation [Relation] cause [Effect] increase pricing power",
    "valid": true,
    "tag": "em"
  },
  {
    "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 10% in the company's fiscal third quarter ending March (compared with 7% for competitor Mastercraft).",
    "output": "[Cause] recent product offerings [Relation] enable [Effect] support price increases into 2021",
    "gold": "[Cause] recent product [Relation] enable [Effect] helped support price increases",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We forecast the firm will slowly lose wireless customers during the year and that revenue per customer will contract as consumers use the service less and face difficulties toping up accounts while lockdown orders remain in place.",
    "output": "[Cause] consumers use the service less and face difficulties toping up accounts while lockdown orders remain in place [Relation] cause [Effect] the firm will slowly lose wireless customers during the year and that revenue per customer will contract",
    "gold": "[Cause] consumers use the service less and face difficulties toping up accounts while lockdown orders remain in place [Relation] cause [Effect] the firm will slowly lose wireless customers during the year and that revenue per customer will contract",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Even sophisticated large pharma clients don't have the breadth of expertise that CROs offer through their services. Thus, we continue to see preferred partnerships between Big Pharma and top-tier CROs, in which a pharma client selects a handful of CROs for most of its outsourcing business.",
    "output": "[Cause] Even sophisticated large pharma clients don't have the breadth of expertise that CROs offer through their services [Relation] cause [Effect] we continue to see preferred partnerships between Big Pharma and top-tier CROs, in which a pharma client selects a handful of CROs for most of its outsourcing business",
    "gold": "[Cause] Even sophisticated large pharma clients don't have the breadth of expertise that CROs offer through their services [Relation] cause [Effect] we continue to see preferred partnerships between Big Pharma and top-tier CROs, in which a pharma client selects a handful of CROs for most of its outsourcing business",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We see Livongo as a stickier offering as it has significantly more touchpoints with users and has evidence of tangible cost savings for employers.",
    "output": "[Cause] it has significantly more touchpoints with users and has evidence of tangible cost savings for employers [Relation] cause [Effect] We see Livongo as a stickier offering",
    "gold": "[Cause] it has significantly more touchpoints with users and has evidence of tangible cost savings for employers [Relation] cause [Effect] We see Livongo as a stickier offering",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "That said, as a result of its thought leadership and strong portfolio, the company enjoys strong customer retention in the low to mid-90% area.",
    "output": "[Cause] its thought leadership and strong portfolio [Relation] cause [Effect] the company enjoys strong customer retention in the low to mid-90% area",
    "gold": "[Cause]  its thought leadership and strong portfolio [Relation] cause [Effect] the company enjoys strong customer retention in the low to mid-90% area",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The current COVID-19 situation is expected to see a sharp increase in credit cost to USD 7 billion to USD 11 billion, or an average of 80 basis points.",
    "output": "[Cause] The current COVID-19 situation [Relation] cause [Effect] a sharp increase in credit cost to USD 7 billion to USD 11 billion, or an average of 80 basis points",
    "gold": "[Cause] The current COVID-19 situation [Relation] cause [Effect] a sharp increase in credit cost to USD 7 billion to USD 11 billion, or an average of 80 basis points",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "If inland markets disconnect from global product pricing, then prices might be based on regional crude prices, negating the advantage of light crude differentials.",
    "output": "[Cause] inland markets disconnect from global product pricing [Relation] cause [Effect] prices might be based on regional crude prices, negating the advantage of light crude differentials",
    "gold": "[Cause] inland markets disconnect from global product pricing [Relation] cause [Effect] prices might be based on regional crude prices, negating the advantage of light crude differentials",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Without a production electric heavy-duty truck available for a transparent analysis, our ability to accurately assess the economic benefits of such vehicles is challenged.",
    "output": "[Cause] Without a production electric heavy-duty truck available for a transparent analysis [Relation] cause [Effect] our ability to accurately assess the economic benefits of such vehicles is challenged",
    "gold": "[Cause] Without a production electric heavy-duty truck available for a transparent analysis [Relation] cause [Effect] our ability to accurately assess the economic benefits of such vehicles is challenged",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The specialized nature of these investments also insulates JLL somewhat from fee compression prevalent in the industry, since its investments are viewed as being more niche and difficult to replicate by investors.",
    "output": "[Cause] its investments are viewed as being more niche and difficult to replicate by investors [Relation] cause [Effect] The specialized nature of these investments also insulates JLL somewhat from fee compression prevalent in the industry",
    "gold": "[Cause] The specialized nature of these investments also insulates JLL somewhat from fee compression prevalent in the industry, since its investments are viewed [Relation] cause [Effect] being more niche and difficult to replicate by investors",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "The ability of oil-producing countries to seize oil assets means that Halliburton's receivables to national oil companies entail counterparty risk.",
    "output": "[Cause] The ability of oil-producing countries to seize oil assets [Relation] cause [Effect] Halliburton's receivables to national oil companies entail counterparty risk",
    "gold": "[Cause] The ability of oil-producing countries to seize oil assets [Relation] cause [Effect] Halliburton's receivables to national oil companies entail counterparty risk",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "If performance deteriorates or the company 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 the company 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 the company 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,
    "tag": "em"
  },
  {
    "input": "Higher commodity prices during 2020 have led to an increase in demand for Sandvik's mining equipment and services, which account for 44% of group sales.",
    "output": "[Cause] Higher commodity prices during 2020 [Relation] cause [Effect] an increase in demand for Sandvik's mining equipment and services",
    "gold": "[Cause] Higher commodity prices during 2020 [Relation] cause [Effect] an increase in demand for Sandvik's mining equipment and services",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The Australian banking system weathered the storm of the global financial crisis well, and tougher capital requirements put the system in an even stronger position today.",
    "output": "[Cause] tougher capital requirements [Relation] enable [Effect] put the system in an even stronger position today",
    "gold": "[Cause] The Australian banking system [Relation] enable [Effect] weathered the storm of the global financial crisis well",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We believe BCE's wireline scale gives it significant cost advantages over its smaller rivals, as it can spread overhead, marketing, and other fixed costs over a much larger subscriber base.",
    "output": "[Cause] it can spread overhead, marketing, and other fixed costs over a much larger subscriber base [Relation] cause [Effect] BCE's wireline scale gives it significant cost advantages over its smaller rivals",
    "gold": "[Cause] it can spread overhead, marketing, and other fixed costs over a much larger subscriber base [Relation] enable [Effect] BCE's wireline scale gives it significant cost advantages over its smaller rivals",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In fact, a streamlined menu emphasizing fewer but more impactful products, daypart expansion (including a revamped coffee/breakfast platform, increased snacking items, and plant-based products like the Impossible Whopper), revamped value platform, and remodeled restaurants have reinvigorated the Burger King brand in recent years, driving improved franchise-level returns.",
    "output": "[Cause] daypart expansion [Relation] enable [Effect] reinvigorated the Burger King brand in recent years",
    "gold": "[Cause] a streamlined menu emphasizing fewer but more impactful products, daypart expansion (including a revamped coffee/breakfast platform, increased snacking items, and plant-based products like the Impossible Whopper), revamped value platform, and remodeled restaurants [Relation] cause [Effect]  improved franchise-level returns",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Coupled with the potential to accelerate its fortressing strategy (increasing store density by splitting franchisee territories), a more rational delivery environment due to third-party aggregator fee caps in several markets, and new product innovations, Domino's is operating from a position of strength. As such, we believe Domino's can still come close to its 2025 targets of 25,000 stores worldwide (versus 17,000 in 2019) and $25 billion global retail sales ($14.3 billion).",
    "output": "[Cause] Coupled with the potential to accelerate its fortressing strategy (increasing store density by splitting franchisee territories), a more rational delivery environment due to third-party aggregator fee caps in several markets, and new product innovations, Domino's is operating from a position of strength [Relation] cause [Effect] Domino's can still come close to its 2025 targets of 25,000 stores worldwide (versus 17,000 in 2019) and $25 billion global retail sales ($14.3 billion)",
    "gold": "[Cause] Coupled with the potential to accelerate its fortressing strategy (increasing store density by splitting franchisee territories), a more rational delivery environment due to third-party aggregator fee caps in several markets, and new product innovations, Domino's is operating from a position of strength [Relation] cause [Effect] Domino's can still come close to its 2025 targets of 25,000 stores worldwide (versus 17,000 in 2019) and $25 billion global retail sales ($14.3 billion)",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "As the largest nuclear power plant owner in the United States, Exelon has suffered as low natural gas prices have slashed power prices.",
    "output": "[Cause] low natural gas prices have slashed power prices [Relation] cause [Effect] Exelon has suffered",
    "gold": "[Cause] low natural gas prices have slashed power prices [Relation] cause [Effect] Exelon has suffered",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "As the largest nuclear power plant owner in the United States, Exelon has suffered as low natural gas prices have slashed power prices.",
    "output": "[Cause] low natural gas prices have slashed power prices [Relation] cause [Effect] Exelon has suffered",
    "gold": "[Cause]  low natural gas prices [Relation] enable [Effect] slashed power prices",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We expect operating income margins to average 20% during the next five years, in line with 2018, as management's long-term focus on cost management and revenue growth offsets increased content and sports rights costs.",
    "output": "[Cause] management's long-term focus on cost management and revenue growth offsets increased content and sports rights costs [Relation] cause [Effect] operating income margins to average 20% during the next five years, in line with 2018",
    "gold": "[Cause] management's long-term focus on cost management and revenue growth offsets increased content and sports rights costs [Relation] cause [Effect] We expect operating income margins to average 20% during the next five years",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "The firm must improve processes to maintain or improve margin in the upswings, which requires capital expenditures and increased fixed costs.",
    "output": "[Cause] The firm must improve processes [Relation] enable [Effect] maintain or improve margin in the upswings",
    "gold": "[Cause] capital expenditures and increased fixed costs [Relation] enable [Effect] improve processes",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "The firm must improve processes to maintain or improve margin in the upswings, which requires capital expenditures and increased fixed costs.",
    "output": "[Cause] capital expenditures and increased fixed costs [Relation] enable [Effect] maintain or improve margin in the upswings",
    "gold": "[Cause] improve processes [Relation] enable [Effect] maintain or improve margin in the upswings",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "The structure of the Formula One World Championship is relatively complex and the rights and the relationships between each party are sometimes difficult to untangle.",
    "output": "[Cause] The structure of the Formula One World Championship is relatively complex [Relation] cause [Effect] the rights and the relationships between each party are sometimes difficult to untangle",
    "gold": "[Cause] the rights and the relationships between each party are sometimes difficult to untangle [Relation] cause [Effect] The structure of the Formula One World Championship is relatively complex",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "The real-time nature of the data provides Netflix with the ability to iterate more quickly than traditional user group or beta testing methods.",
    "output": "[Cause] The real-time nature of the data [Relation] enable [Effect] Netflix with the ability to iterate more quickly than traditional user group or beta testing methods",
    "gold": "[Cause] The real-time nature of the data [Relation] cause [Effect] Netflix with the ability to iterate more quickly than traditional user group or beta testing methods",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Because of its merger with Level 3, Lumen also still has over $7 billion in deferred tax assets, which we think will result in several hundred million dollars in additional cash flow over each of the next four years.",
    "output": "[Cause] its merger with Level 3 [Relation] cause [Effect] Lumen also still has over $7 billion in deferred tax assets",
    "gold": "[Cause] its merger with Level 3, Lumen also still has over $7 billion in deferred tax assets [Relation] cause [Effect] several hundred million dollars in additional cash flow over each of the next four years",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Nevertheless, given that TE's products are more basic--and thus far more removed from the national security spotlight--than semiconductors, and that it's domiciled in neutral Switzerland, we think the risk of tariffs or trade restrictions is muted.",
    "output": "[Cause] it's domiciled in neutral Switzerland [Relation] cause [Effect] the risk of tariffs or trade restrictions is muted",
    "gold": "[Cause] it's domiciled in neutral Switzerland [Relation] cause [Effect] the risk of tariffs or trade restrictions is muted",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The division currently specializes in screening equipment for airports and ports--mainly supplying to governments, but we think Detection could develop security equipment for private market if it choose to.",
    "output": "[Cause] it choose to [Relation] enable [Effect] Detection could develop security equipment for private market",
    "gold": "[Cause] The division currently specializes in screening equipment for airports and ports--mainly supplying to governments [Relation] cause [Effect] we think Detection could develop security equipment for private market if it choose to",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "COVID-19 is set to be a near-term headwind to global travel demand, but Choice is positioned to outperform industry demand near term, given that 90% of the company's hotels are in drive-to, nonurban locations, which we believe will rebound ahead of flight destinations.",
    "output": "[Cause] 90% of the company's hotels are in drive-to, nonurban locations [Relation] cause [Effect] Choice is positioned to outperform industry demand near term",
    "gold": "[Cause] COVID-19 [Relation] prevent [Effect] global travel demand",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "COVID-19 is set to be a near-term headwind to global travel demand, but Choice is positioned to outperform industry demand near term, given that 90% of the company's hotels are in drive-to, nonurban locations, which we believe will rebound ahead of flight destinations.",
    "output": "[Cause] 90% of the company's hotels are in drive-to, nonurban locations [Relation] cause [Effect] Choice is positioned to outperform industry demand near term",
    "gold": "[Cause] Choice is positioned to outperform industry demand near term, given that 90% of the company's hotels are in drive-to, nonurban locations [Relation] cause [Effect]  we believe will rebound ahead of flight destinations",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "If airlines begin to utilize aircraft for substantially longer periods, it may cause original equipment manufacturers to reduce production rates due to a slower aircraft replacement cycle.",
    "output": "[Cause] a slower aircraft replacement cycle [Relation] cause [Effect] cause original equipment manufacturers to reduce production rates",
    "gold": "[Cause]  airlines begin to utilize aircraft for substantially longer periods [Relation] cause [Effect]  original equipment manufacturers to reduce production rates due to a slower aircraft replacement cycle",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "If management decides to make an unwise acquisition from a strategic or valuation perspective, minority shareholders could probably only show dissatisfaction in the deal by selling shares.",
    "output": "[Cause] management decides to make an unwise acquisition from a strategic or valuation perspective [Relation] cause [Effect] minority shareholders could probably only show dissatisfaction in the deal by selling shares",
    "gold": "[Cause] management decides to make an unwise acquisition from a strategic or valuation perspective [Relation] cause [Effect]  minority shareholders could probably only show dissatisfaction in the deal by selling shares",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Our forecast assumes cabinet additions gradually decline as the global market gets more saturated, but spending needs will come down in turn.",
    "output": "[Cause] the global market gets more saturated [Relation] cause [Effect] cabinet additions gradually decline",
    "gold": "[Cause]  the global market gets more saturated [Relation] cause [Effect]  cabinet additions gradually decline",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Changing identity access providers can be terribly disruptive to security and networking teams, and we believe that Okta's approach to identity access management and user-based cybersecurity, including its expanding network of customers and applications, provide it with a sustainable market presence.",
    "output": "[Cause] Okta's approach to identity access management and user-based cybersecurity [Relation] enable [Effect] provide it with a sustainable market presence",
    "gold": "[Cause]  Okta's approach to identity access management and user-based cybersecurity [Relation] cause [Effect] provide it with a sustainable market presence",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Hub's intermodal, dedicated-trucking, and asset-light freight-brokerage operations are exposed to the health of the North American economy because it serves shippers across most industrial and retail end markets.",
    "output": "[Cause] it serves shippers across most industrial and retail end markets [Relation] cause [Effect] Hub's intermodal, dedicated-trucking, and asset-light freight-brokerage operations are exposed to the health of the North American economy",
    "gold": "[Cause] the health of the North American economy [Relation] prevent [Effect] Hub's intermodal, dedicated-trucking, and asset-light freight-brokerage operations",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "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] customers 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] enable [Effect] customers more likely to stay with the company",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "From an attribution perspective, we expect volume to be the main sales engine, averaging 6% growth throughout our explicit forecast.",
    "output": "[Cause] volume to be the main sales engine [Relation] enable [Effect] averaging 6% growth throughout our explicit forecast",
    "gold": "[Cause] volume to be the main sales engine [Relation] cause [Effect] averaging 6% growth throughout our explicit forecast",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Skyworks should continue to benefit from the rise of 5G devices, which we expect will rely on more advanced RF content.",
    "output": "[Cause] the rise of 5G devices [Relation] enable [Effect] Skyworks should continue to benefit",
    "gold": "[Cause] more advanced RF content [Relation] enable [Effect] Skyworks should continue to benefit",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Skyworks should continue to benefit from the rise of 5G devices, which we expect will rely on more advanced RF content.",
    "output": "[Cause] more advanced RF content [Relation] enable [Effect] Skyworks should continue to benefit from the rise of 5G devices",
    "gold": "[Cause]  the rise of 5G devices [Relation] enable [Effect] Skyworks should continue to benefit",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Additionally, margin expansion efforts could hamper its ability to win new customers and support existing clients, which can drive uncertainty in CrowdStrike continuing strong revenue expansion throughout the 2020s.",
    "output": "[Cause] margin expansion efforts [Relation] prevent [Effect] its ability to win new customers and support existing clients",
    "gold": "[Cause] margin expansion efforts [Relation] prevent [Effect] its ability to win new customers and support existing clients",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Additionally, margin expansion efforts could hamper its ability to win new customers and support existing clients, which can drive uncertainty in CrowdStrike continuing strong revenue expansion throughout the 2020s.",
    "output": "[Cause] margin expansion efforts [Relation] prevent [Effect] uncertainty in CrowdStrike continuing strong revenue expansion throughout the 2020s",
    "gold": "[Cause] its ability to win new customers and support existing clients [Relation] enable [Effect] drive uncertainty in CrowdStrike continuing strong revenue expansion throughout the 2020s",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Nonetheless, we think such margins won't be sustained over our five-year forecast, as we expect travel in the long term to be reduced from its level before the pandemic, but still be greater than virtually zero, as in fiscal 2021.",
    "output": "[Cause] travel in the long term to be reduced from its level before the pandemic, but still be greater than virtually zero, as in fiscal 2021 [Relation] cause [Effect] such margins won't be sustained over our five-year forecast",
    "gold": "[Cause]  we expect travel in the long term to be reduced from its level before the pandemic [Relation] cause [Effect] we think such margins won't be sustained over our five-year forecast",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We project that Marvell's revenue will be up 16% in fiscal 2022 (mostly due to recent acquisitions), though we believe the firm could have achieved top-line growth in the low teens absent the COVID-19 headwinds.",
    "output": "[Cause] recent acquisitions [Relation] cause [Effect] Marvell's revenue will be up 16% in fiscal 2022",
    "gold": "[Cause]  recent acquisitions [Relation] cause [Effect] Marvell's revenue will be up 16% in fiscal 2022",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Second, we believe existing customers will trade up to premium products as daily disposable lenses are growing in popularity across the globe.",
    "output": "[Cause] daily disposable lenses are growing in popularity across the globe [Relation] cause [Effect] existing customers will trade up to premium products",
    "gold": "[Cause] daily disposable lenses are growing in popularity across the globe [Relation] cause [Effect]  existing customers will trade up to premium products",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Finally, while we agree that AT&T can improve the advertising business, using data to better target consumers, we believe the changing nature of television viewing limits the size of this opportunity.",
    "output": "[Cause] the changing nature of television viewing [Relation] prevent [Effect] the size of this opportunity",
    "gold": "[Cause]  we agree that AT&T can improve the advertising business, using data to better target consumers [Relation] cause [Effect] we believe the changing nature of television viewing limits the size of this opportunity",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We believe that technical complexity makes this business difficult to replicate, and the high cost of failure ensures that contractors are likely to continue purchasing from incumbents.",
    "output": "[Cause] the high cost of failure [Relation] cause [Effect] contractors are likely to continue purchasing from incumbents",
    "gold": "[Cause] the high cost of failure [Relation] enable [Effect] contractors are likely to continue purchasing from incumbents",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We've increased our fair value estimate for Cohen & Steers to $77 per share from $70 to account for improvements in the company's AUM, as well as our own near-to-medium term forecasts for the firm, since our last update.",
    "output": "[Cause] We've increased our fair value estimate for Cohen & Steers to $77 per share from $70 [Relation] enable [Effect] account for improvements in the company's AUM, as well as our own near-to-medium term forecasts for the firm, since our last update",
    "gold": "[Cause] improvements in the company's AUM, as well as our own near-to-medium term forecasts for the firm [Relation] cause [Effect] We've increased our fair value estimate for Cohen & Steers",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Charles River's research model business has built a reputation for quality and speed, allowing it to control an estimated 50% share of the total market.",
    "output": "[Cause] Charles River's research model business has built a reputation for quality and speed [Relation] enable [Effect] it to control an estimated 50% share of the total market",
    "gold": "[Cause] Charles River's research model business has built a reputation for quality and speed [Relation] enable [Effect] it to control an estimated 50% share of the total market",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The service business backed by a major national brand, as well 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 well as the commercial business coming from Interline and HD Supply [Relation] enable [Effect] build brand loyalty and keep consumers returning to a trusted source, something that could be hard to duplicate for a new entrant",
    "gold": "[Cause] build brand loyalty [Relation] enable [Effect] keep consumers returning to a trusted source",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We are increasing our fair value estimate to $191 per share from $175 since we expect improved near-term performance as the negative economic effects of the coronavirus pandemic wear off.",
    "output": "[Cause] the negative economic effects of the coronavirus pandemic wear off [Relation] cause [Effect] We are increasing our fair value estimate to $191 per share from $175",
    "gold": "[Cause] the negative economic effects of the coronavirus pandemic wear off [Relation] cause [Effect] improved near-term performance",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We are increasing our fair value estimate to $191 per share from $175 since we expect improved near-term performance as the negative economic effects of the coronavirus pandemic wear off.",
    "output": "[Cause] the negative economic effects of the coronavirus pandemic wear off [Relation] cause [Effect] We are increasing our fair value estimate to $191 per share from $175",
    "gold": "[Cause] improved near-term performance [Relation] cause [Effect] We are increasing our fair value estimate to $191 per share from $175",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We forecast the company to turn profitable by 2023 and reach a high-teens margin by 2028 as operating expenses are scaled against growing revenue.",
    "output": "[Cause] operating expenses are scaled against growing revenue [Relation] cause [Effect] the company to turn profitable by 2023 and reach a high-teens margin by 2028",
    "gold": "[Cause]  operating expenses are scaled against growing revenue [Relation] enable [Effect] the company to turn profitable by 2023 and reach a high-teens margin by 2028",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The ongoing COVID-19 outbreak presents substantial risks to near-term air traffic demand, which calls into question customers' demand for new aircraft.",
    "output": "[Cause] The ongoing COVID-19 outbreak presents substantial risks to near-term air traffic demand [Relation] cause [Effect] calls into question customers' demand for new aircraft",
    "gold": "[Cause] The ongoing COVID-19 outbreak presents substantial risks to near-term air traffic demand [Relation] enable [Effect]  calls into question customers' demand for new aircraft",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Finally, in light of COVID-19, Ansys faces risks associated with its exposure to the airline industry given the significant potential that these customers (like Boeing and Airbus) could go bankrupt.",
    "output": "[Cause] the significant potential that these customers (like Boeing and Airbus) could go bankrupt [Relation] cause [Effect] Ansys faces risks associated with its exposure to the airline industry",
    "gold": "[Cause] in light of COVID-19 | the significant potential that these customers (like Boeing and Airbus) could go bankrupt [Relation] cause [Effect] Ansys faces risks associated with its exposure to the airline industry",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "De-emphasizing but Retaining Intangible Asset Moat Source  We believe AB InBev benefits from several intangible asset competitive advantages in many of its markets, but that these benefits are less potent than cost advantages in creating barriers to entry.",
    "output": "[Cause] De-emphasizing but Retaining Intangible Asset Moat Source [Relation] cause [Effect] AB InBev benefits from several intangible asset competitive advantages in many of its markets",
    "gold": "[Cause] AB InBev benefits from several intangible asset competitive advantages in many of its markets, [Relation] cause [Effect] that these benefits are less potent than cost advantages in creating barriers to entry.",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Given that costs are primarily variable in the insurance business, we don't believe Prudential has a competitive advantage from scale.",
    "output": "[Cause] costs are primarily variable in the insurance business [Relation] cause [Effect] we don't believe Prudential has a competitive advantage from scale",
    "gold": "[Cause] costs are primarily variable in the insurance business [Relation] cause [Effect] we don't believe Prudential has a competitive advantage from scale",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Beyond helping defray recent cost pressures, we suspect a portion of any savings realized may also serve to bolster its brand spending.",
    "output": "[Cause] a portion of any savings realized [Relation] enable [Effect] bolster its brand spending",
    "gold": "[Cause] a portion of any savings realized [Relation] cause [Effect] defray recent cost pressures",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Beyond helping defray recent cost pressures, we suspect a portion of any savings realized may also serve to bolster its brand spending.",
    "output": "[Cause] a portion of any savings realized [Relation] enable [Effect] bolster its brand spending",
    "gold": "[Cause] a portion of any savings realized [Relation] cause [Effect] bolster its brand spending",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We also believe the addition of Andeavor's portfolio has diluted Marathon Petroleum's competitive position somewhat, evident in part by recent impairment charges.",
    "output": "[Cause] addition of Andeavor's portfolio [Relation] cause [Effect] diluted Marathon Petroleum's competitive position somewhat",
    "gold": "[Cause] recent impairment charges [Relation] cause [Effect] the addition of Andeavor's portfolio has diluted Marathon Petroleum's competitive position somewhat",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We believe there is opportunity for Johnson Controls to eliminate redundant branches, and in turn, offer more-comprehensive service offerings across a more consolidated branch footprint.",
    "output": "[Cause] there is opportunity for Johnson Controls to eliminate redundant branches [Relation] enable [Effect] offer more-comprehensive service offerings across a more consolidated branch footprint",
    "gold": "[Cause] there is opportunity for Johnson Controls to eliminate redundant branches [Relation] enable [Effect] offer more-comprehensive service offerings across a more consolidated branch footprint",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "As it has grown in scale and scope, LKQ has strengthened its relationships with automobile insurance carriers in North America, as these entities pay for most collision repairs in the region.",
    "output": "[Cause] these entities pay for most collision repairs in the region [Relation] cause [Effect] LKQ has strengthened its relationships with automobile insurance carriers in North America",
    "gold": "[Cause] these entities pay for most collision repairs in the region [Relation] enable [Effect]  LKQ has strengthened its relationships with automobile insurance carriers in North America",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "However, if competition for investment banking talent heats up with a more robust upturn in M&A or we enter into an economic downturn, the company may be unable to increase its senior managing director head count at its historically fast clip, which would likely disappoint growth-orientated investors.",
    "output": "[Cause] competition for investment banking talent heats up with a more robust upturn in M&A or we enter into an economic downturn [Relation] cause [Effect] the company may be unable to increase its senior managing director head count at its historically fast clip",
    "gold": "[Cause] competition for investment banking talent heats up with a more robust upturn in M&A or we enter into an economic downturn [Relation] cause [Effect] the company may be unable to increase its senior managing director head count at its historically fast clip",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "However, if competition for investment banking talent heats up with a more robust upturn in M&A or we enter into an economic downturn, the company may be unable to increase its senior managing director head count at its historically fast clip, which would likely disappoint growth-orientated investors.",
    "output": "[Cause] competition for investment banking talent heats up with a more robust upturn in M&A or we enter into an economic downturn [Relation] cause [Effect] the company may be unable to increase its senior managing director head count at its historically fast clip",
    "gold": "[Cause] the company may be unable to increase its senior managing director head count at its historically fast clip [Relation] cause [Effect] disappoint growth-orientated investors",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "The risk was muted by the passing of the Fixing America's Surface Transportation Act in 2015, which provided five years of funding.",
    "output": "[Cause] the passing of the Fixing America's Surface Transportation Act in 2015 [Relation] enable [Effect] The risk was muted",
    "gold": "[Cause] The risk was muted by the passing of the Fixing America's Surface Transportation Act in 2015 [Relation] enable [Effect] provided five years of funding",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "First, SMB customers are more likely to fail in a recession, and second, the value of gross merchandise volume processed on the platform is likely to slow as consumers spend less.",
    "output": "[Cause] consumers spend less [Relation] cause [Effect] the value of gross merchandise volume processed on the platform is likely to slow",
    "gold": "[Cause] consumers spend less [Relation] cause [Effect] the value of gross merchandise volume processed on the platform is likely to slow",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Nokia's focus on software-defined networking should expand its operating margins, and we believe software sales should accelerate as Internet of Things devices become integrated into 5G networks.",
    "output": "[Cause] Internet of Things devices become integrated into 5G networks [Relation] cause [Effect] software sales should accelerate",
    "gold": "[Cause] Internet of Things devices become integrated into 5G networks [Relation] cause [Effect] software sales should accelerate",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "As always, macro trends in employment and demographics can change dramatically and have a significant impact on demand for office space.",
    "output": "[Cause] macro trends in employment and demographics can change dramatically [Relation] cause [Effect] have a significant impact on demand for office space",
    "gold": "[Cause] macro trends in employment and demographics can change dramatically [Relation] cause [Effect]  have a significant impact on demand for office space",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Our forecasts also assume substantial usage growth per customer as we expect customers to scale their data storage and compute significantly once migrating to the cloud due to reduced costs and the ease of such scaling.",
    "output": "[Cause] reduced costs and the ease of such scaling [Relation] cause [Effect] customers to scale their data storage and compute significantly once migrating to the cloud",
    "gold": "[Cause] reduced costs [Relation] cause [Effect] substantial usage growth per customer",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "In mid-May, KSU deemed Canadian National's previously announced merger offer to be \"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"superior,\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\" and the board intends to terminate the Canadian Pacific agreement and accept CN's offer.",
    "output": "[Cause] KSU deemed Canadian National's previously announced merger offer to be \"\"\"\"\"\"\"\"\"\"\"\"\"superior,\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"",
    "gold": "[Cause] In mid-May, KSU deemed Canadian National's previously announced merger offer to be \"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"superior,\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\" [Relation] cause [Effect] the board intends to terminate the Canadian Pacific agreement and accept CN's offer",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Over the near term, elevated spending on research and development, sales, and capital projects will be needed to support product development and growth initiatives, but we think increased reinvestment will help management accomplish its goal of mid-single-digit top line growth over the mid term.",
    "output": "[Cause] elevated spending on research and development, sales, and capital projects [Relation] enable [Effect] support product development and growth initiatives",
    "gold": "[Cause] increased reinvestment [Relation] enable [Effect] management accomplish its goal of mid-single-digit top line growth over the mid term",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Although Dick's physical stores were temporarily closed earlier this year due to the COVID-19 pandemic, its e-commerce has skyrocketed, and we now expect it to double this year.",
    "output": "[Cause] the COVID-19 pandemic [Relation] cause [Effect] Dick's physical stores were temporarily closed earlier this year",
    "gold": "[Cause]  its e-commerce has skyrocketed [Relation] enable [Effect]  it to double this year",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We assume revenue growth will create operating leverage, as sales and marketing, along with R&D, and general and administrative expenses, should grow at lower rates than the top line.",
    "output": "[Cause] sales and marketing, along with R&D, and general and administrative expenses, should grow at lower rates than the top line [Relation] cause [Effect] revenue growth will create operating leverage",
    "gold": "[Cause] sales and marketing, along with R&D, and general and administrative expenses, should grow at lower rates than the top line [Relation] cause [Effect] revenue growth will create operating leverage",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Given their respective historical core competencies, both Rockwell and Emerson face similar challenges but from opposite ends of the spectrum as they attempt to move into what is referred to as the \"\"\"\"hybrid\"\"\"\" space--or a mixture of both discrete and process manufacturing, as is seen in the pharmaceutical industry.",
    "output": "[Cause] they attempt to move into what is referred to as the \"\"\"\"hybrid\"\"\" space--or a mixture of both discrete and process manufacturing, as is seen in the pharmaceutical industry [Relation] cause [Effect] both Rockwell and Emerson face similar challenges but from opposite ends of the spectrum",
    "gold": "[Cause] their respective historical core competencies [Relation] cause [Effect] both Rockwell and Emerson face similar challenges",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "However, these projects will also weigh on returns as they were sanctioned at the top of the cycle and experienced budget overruns, leaving an inflated capital base.",
    "output": "[Cause] they were sanctioned at the top of the cycle and experienced budget overruns, leaving an inflated capital base [Relation] cause [Effect] these projects will also weigh on returns",
    "gold": "[Cause] they were sanctioned at the top of the cycle and experienced budget overruns, leaving an inflated capital base [Relation] cause [Effect] these projects will also weigh on returns",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We forecast steady earnings growth in the downstream and chemical segments as new projects and capacity are brought on line during the next five years.",
    "output": "[Cause] new projects and capacity are brought on line during the next five years [Relation] cause [Effect] steady earnings growth in the downstream and chemical segments",
    "gold": "[Cause] new projects and capacity are brought on line during the next five years [Relation] cause [Effect]  steady earnings growth in the downstream and chemical segments",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Risk could emanate from the proposed government rulings seeking increased transparency of drug pricing and elimination of rebates to PBMs.",
    "output": "[Cause] the proposed government rulings seeking increased transparency of drug pricing and elimination of rebates to PBMs [Relation] cause [Effect] Risk",
    "gold": "[Cause] the proposed government rulings [Relation] enable [Effect] seeking increased transparency of drug pricing and elimination of rebates to PBMs",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We believe the deal especially changed the long-term dynamic for Sprouts, as it shares Whole Foods' natural, health-oriented, and better-for-you positioning.",
    "output": "[Cause] it shares Whole Foods' natural, health-oriented, and better-for-you positioning [Relation] cause [Effect] the deal especially changed the long-term dynamic for Sprouts",
    "gold": "[Cause]  the deal [Relation] enable [Effect] changed the long-term dynamic for Sprouts",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Most Under Armour-owned stores and those of its wholesale partners were forced to close temporarily or restrict access, leading to large losses in the first half of 2020.",
    "output": "[Cause] Most Under Armour-owned stores and those of its wholesale partners were forced to close temporarily or restrict access [Relation] cause [Effect] large losses in the first half of 2020",
    "gold": "[Cause] Most Under Armour-owned stores and those of its wholesale partners were forced to close temporarily or restrict access [Relation] cause [Effect]  large losses in the first half of 2020",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Shorter hauls also offer drivers a higher quality of life (less time away from home), thus enhancing retention--a critical factor given the severely constrained driver pool.",
    "output": "[Cause] Shorter hauls also offer drivers a higher quality of life (less time away from home) [Relation] enable [Effect] enhancing retention",
    "gold": "[Cause] Shorter hauls [Relation] enable [Effect] drivers a higher quality of life (less time away from home)",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "While the bank may not reach its 55% efficiency ratio goal in the short term as the rate environment has pressured net interest income growth, the bank is decidedly headed in the right direction.",
    "output": "[Cause] the rate environment has pressured net interest income growth [Relation] cause [Effect] the bank may not reach its 55% efficiency ratio goal in the short term",
    "gold": "[Cause] the rate environment has pressured net interest income growth [Relation] cause [Effect] the bank may not reach its 55% efficiency ratio goal in the short term",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "As Regeneron's drug candidates do make it to market, they will go up against many tried-and-true products, and doctors are often slow to convert to new therapies.",
    "output": "[Cause] Regeneron's drug candidates do make it to market [Relation] cause [Effect] they will go up against many tried-and-true products, and doctors are often slow to convert to new therapies",
    "gold": "[Cause]  go up against many tried-and-true products [Relation] cause [Effect]  slow to convert to new therapies",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We see portfolio premiumization having mixed effects on the gross margin, as some SKUs with structurally higher cost structures (like small-batch specialty beers with unique ingredient compositions) should be dilutive, while others with similar brewing processes should be accretive.",
    "output": "[Cause] some SKUs with structurally higher cost structures (like small-batch specialty beers with unique ingredient compositions) should be dilutive, while others with similar brewing processes should be accretive [Relation] cause [Effect] portfolio premiumization having mixed effects on the gross margin",
    "gold": "[Cause] some SKUs with structurally higher cost structures (like small-batch specialty beers with unique ingredient compositions) should be dilutive, while others with similar brewing processes should be accretive [Relation] cause [Effect] portfolio premiumization having mixed effects on the gross margin",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "As a specific example, Walgreens' beneficial distribution arrangement with Amerisource that was extended through 2029, which enables the company to optimize working capital.",
    "output": "[Cause] Walgreens' beneficial distribution arrangement with Amerisource that was extended through 2029 [Relation] enable [Effect] the company to optimize working capital",
    "gold": "[Cause] Walgreens' beneficial distribution arrangement with Amerisource that was extended through 2029 [Relation] enable [Effect]  the company to optimize working capital",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "It started by capitalizing on new extended shelf-life technology (which comes in the form of an enzyme provided by an ingredients partner) that increases shelf-life from 25-30 days to 60-65 days, enabling the firm to switch from the expensive direct-store-delivery model to the more cost-effective direct-to-warehouse model.",
    "output": "[Cause] capitalizing on new extended shelf-life technology (which comes in the form of an enzyme provided by an ingredients partner) that increases shelf-life from 25-30 days to 60-65 days [Relation] enable [Effect] the firm to switch from the expensive direct-store-delivery model to the more cost-effective direct-to-warehouse model",
    "gold": "[Cause] started by capitalizing on new extended shelf-life technology [Relation] cause [Effect] increases shelf-life from 25-30 days to 60-65 days, enabling the firm to switch from the expensive direct-store-delivery model to the more cost-effective direct-to-warehouse model",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "As scrap prices can be volatile, this effort to vertically integrate has served the company well by ensuring that Nucor has access to a consistent, sufficient supply of ferrous scrap for its EAFs.",
    "output": "[Cause] scrap prices can be volatile [Relation] cause [Effect] this effort to vertically integrate has served the company well by ensuring that Nucor has access to a consistent, sufficient supply of ferrous scrap for its EAFs",
    "gold": "[Cause]  ensuring that Nucor has access to a consistent, sufficient supply of ferrous scrap for its EAFs [Relation] enable [Effect] served the company well",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Given the impact an uncertain macroeconomic environment could have on Trane's growth and profitability over our five-year forecast horizon, our fair value estimate uncertainty is high.",
    "output": "[Cause] the impact an uncertain macroeconomic environment could have on Trane's growth and profitability over our five-year forecast horizon [Relation] cause [Effect] our fair value estimate uncertainty is high",
    "gold": "[Cause] the impact an uncertain macroeconomic environment could have on Trane's growth and profitability over our five-year forecast horizon [Relation] cause [Effect] our fair value estimate uncertainty is high",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Given the ongoing commitment to research (particularly in life sciences) by emerging-markets governments, the company's goal of expanding its emerging-markets business by 8%-10% annually appears achievable.",
    "output": "[Cause] the ongoing commitment to research (particularly in life sciences) by emerging-markets governments [Relation] cause [Effect] the company's goal of expanding its emerging-markets business by 8%-10% annually appears achievable",
    "gold": "[Cause]  the ongoing commitment to research (particularly in life sciences) by emerging-markets governments [Relation] enable [Effect] the company's goal of expanding its emerging-markets business by 8%-10% annually appears achievable",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Given that Bristol now trails Merck in launching an immuno-oncology drug in the larger and more important indication of first-line non-small-cell lung cancer, catching up through combination treatment is more important.",
    "output": "[Cause] Bristol now trails Merck in launching an immuno-oncology drug in the larger and more important indication of first-line non-small-cell lung cancer [Relation] cause [Effect] catching up through combination treatment is more important",
    "gold": "[Cause] Bristol now trails Merck in launching an immuno-oncology drug in the larger and more important indication of first-line non-small-cell lung cancer [Relation] cause [Effect] catching up through combination treatment is more important",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "With constraints in dealer inventory levels stemming from robust COVID-19 takeaway, 2021 could see some volatility in market share gains, given the limited availability of certain products at retail.",
    "output": "[Cause] robust COVID-19 takeaway [Relation] cause [Effect] constraints in dealer inventory levels",
    "gold": "[Cause] robust COVID-19 takeaway [Relation] cause [Effect] onstraints in dealer inventory levels stemming",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "With constraints in dealer inventory levels stemming from robust COVID-19 takeaway, 2021 could see some volatility in market share gains, given the limited availability of certain products at retail.",
    "output": "[Cause] constraints in dealer inventory levels stemming from robust COVID-19 takeaway [Relation] cause [Effect] 2021 could see some volatility in market share gains",
    "gold": "[Cause] the limited availability of certain products at retail [Relation] cause [Effect] 2021 could see some volatility in market share gains",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Many construction projects run on a tight deadline, so OEM's track record of delivering on time is also a desired capability for construction developers.",
    "output": "[Cause] Many construction projects run on a tight deadline [Relation] cause [Effect] OEM's track record of delivering on time is also a desired capability for construction developers",
    "gold": "[Cause] Many construction projects run on a tight deadline [Relation] cause [Effect] OEM's track record of delivering on time is also a desired capability for construction developers",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Additionally, Nasdaq has seen continued pushback from clients and regulators on the pricing of its market data products, which has limited the revenue growth from the company's market data. These pressures add credence to Nasdaq's efforts to transition itself away from its exchanges business and become a diversified technology company.",
    "output": "[Cause] Nasdaq has seen continued pushback from clients and regulators on the pricing of its market data products, which has limited the revenue growth from the company's market data [Relation] cause [Effect] add credence to Nasdaq's efforts to transition itself away from its exchanges business and become a diversified technology company",
    "gold": "[Cause] Nasdaq has seen continued pushback from clients and regulators on the pricing of its market data products, which has limited the revenue growth from the company's market data [Relation] cause [Effect]  add credence to Nasdaq's efforts to transition itself away from its exchanges business and become a diversified technology company",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Under Jeff Immelt, GE failed to appreciate these risks, and we suspected its ill-time purchase of thermal energy provider and grid company Alstom will continue to weigh down the segment's ROIC, including goodwill, for years to come due to this overcapacity.",
    "output": "[Cause] this overcapacity [Relation] cause [Effect] its ill-time purchase of thermal energy provider and grid company Alstom will continue to weigh down the segment's ROIC, including goodwill, for years to come",
    "gold": "[Cause] Under Jeff Immelt, GE failed to appreciate these risks, and we suspected its ill-time purchase of thermal [Relation] cause [Effect] energy provider and grid company Alstom will continue to weigh down the segment's ROIC, including goodwill, for years to come due to this overcapacity",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We think the majority of this net new data to be stored is largely for hefty analysis, thus requiring a NoSQL database, like MongoDB, due to its ability to store unindexed or \"\"\"\"unknown categories\"\"\"\" of data.",
    "output": "[Cause] its ability to store unindexed or \"\"\"\"unknown categories\"\"\"\" of data [Relation] cause [Effect] requiring a NoSQL database, like MongoDB",
    "gold": "[Cause] We think the majority of this net new data to be stored is largely for hefty analysis [Relation] enable [Effect] thus requiring a NoSQL database, like MongoDB, due to its ability to store unindexed or \"\"\"\"unknown categories\"\"\"\" of data.",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We believe manufacturers of more basic sports watches (in the $200-$300 range), like Fossil, Samsung, and Fitbit, have not entered the ultrapremium sports watch space ($600-$1,500 range) due to the understanding of this strong perception and likely significant marketing spending needed to rock the boat.",
    "output": "[Cause] the understanding of this strong perception and likely significant marketing spending needed to rock the boat [Relation] cause [Effect] manufacturers of more basic sports watches (in the $200-$300 range), like Fossil, Samsung, and Fitbit, have not entered the ultrapremium sports watch space ($600-$1,500 range)",
    "gold": "[Cause] the understanding of this strong perception and likely significant marketing spending needed to rock the boat [Relation] cause [Effect] manufacturers of more basic sports watches (in the $200-$300 range), like Fossil, Samsung, and Fitbit, have not entered the ultrapremium sports watch space ($600-$1,500 range)",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We believe in-store services and part availability are barriers to DIY disruption, but a large consumer shift to digital sellers (like Amazon) could inject low-cost competition.",
    "output": "[Cause] in-store services and part availability [Relation] prevent [Effect] DIY disruption",
    "gold": "[Cause] in-store services and part availability [Relation] prevent [Effect] DIY disruption",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "For Spinraza (nusinersen), we assume sales begin to decline in 2020 as new patients and treated Spinraza patients could opt for either competing gene therapy (Novartis' Zolgensma) or small-molecule therapy (Roche/PTC's Evrysdi), and as fewer patients initiate therapy (the first year of therapy is twice as expensive).",
    "output": "[Cause] new patients and treated Spinraza patients could opt for either competing gene therapy (Novartis' Zolgensma) or small-molecule therapy (Roche/PTC's Evrysdi) [Relation] cause [Effect] sales begin to decline in 2020",
    "gold": "[Cause]  fewer patients initiate therapy [Relation] cause [Effect]  we assume sales begin to decline in 2020",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "This means that Infosys is better able to attract value from its intangible assets as there is less turnover of such assets, as this is retained significantly in talent.",
    "output": "[Cause] there is less turnover of such assets [Relation] cause [Effect] Infosys is better able to attract value from its intangible assets",
    "gold": "[Cause] there is less turnover of such assets [Relation] enable [Effect]  Infosys is better able to attract value from its intangible assets",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "This means that Infosys is better able to attract value from its intangible assets as there is less turnover of such assets, as this is retained significantly in talent.",
    "output": "[Cause] this is retained significantly in talent [Relation] cause [Effect] Infosys is better able to attract value from its intangible assets",
    "gold": "[Cause] this is retained significantly in talent [Relation] enable [Effect] Infosys is better able to attract value from its intangible assets",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "However, we think it will be difficult for Hain to gain share, as large food conglomerates with well-known, powerful brands and significant resources are also aggressively targeting this market.",
    "output": "[Cause] large food conglomerates with well-known, powerful brands and significant resources are also aggressively targeting this market [Relation] cause [Effect] it will be difficult for Hain to gain share",
    "gold": "[Cause] large food conglomerates with well-known, powerful brands and significant resources are also aggressively targeting this market [Relation] cause [Effect] it will be difficult for Hain to gain share",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In our view, this risk is more significant for Discover than some of its peers since its business strategy focuses on building a portfolio of cardholders with high ongoing balances.",
    "output": "[Cause] its business strategy focuses on building a portfolio of cardholders with high ongoing balances [Relation] cause [Effect] this risk is more significant for Discover than some of its peers",
    "gold": "[Cause]  its business strategy focuses on building a portfolio of cardholders with high ongoing balances [Relation] cause [Effect] this risk is more significant for Discover than some of its peers",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We do not think that attrition is a major concern amid COVID-19, as attrition has been declining since the start of the pandemic.",
    "output": "[Cause] attrition has been declining since the start of the pandemic [Relation] cause [Effect] We do not think that attrition is a major concern amid COVID-19",
    "gold": "[Cause] the start of the pandemic [Relation] prevent [Effect]  attrition has been declining",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Wesco operates in very fragmented markets, but its large scale, global footprint, expansive product portfolio and supplier base, and service offerings differentiate it from smaller local and regional competitors.",
    "output": "[Cause] its large scale, global footprint, expansive product portfolio and supplier base, and service offerings [Relation] enable [Effect] differentiate it from smaller local and regional competitors",
    "gold": "[Cause] its large scale, global footprint, expansive product portfolio and supplier base, and service offerings [Relation] enable [Effect] differentiate it from smaller local and regional competitors",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "If the firm is hit with an unexpected cyclical downturn that limits its cash generation, it could find itself in a liquidity crunch—though we note a $2.25 billion revolving credit facility provides some insurance.",
    "output": "[Cause] the firm is hit with an unexpected cyclical downturn that limits its cash generation [Relation] cause [Effect] it could find itself in a liquidity crunch",
    "gold": "[Cause] the firm is hit with an unexpected cyclical downturn that limits its cash generation [Relation] cause [Effect] it could find itself in a liquidity crunch",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Echo's mid-2015 acquisition of Command Transportation ran into integration complications, but it boosted Echo's network scale in full-truckload brokerage (Echo started with a heavier concentration in LTL), boosting its capacity access, lane density, and buying scale.",
    "output": "[Cause] it boosted Echo's network scale in full-truckload brokerage [Relation] enable [Effect] boosting its capacity access, lane density, and buying scale",
    "gold": "[Cause] Echo's mid-2015 acquisition of Command Transportation ran into integration complications [Relation] enable [Effect]  boosted Echo's network scale in full-truckload brokerage (Echo started with a heavier concentration in LTL), boosting its capacity access, lane density, and buying scale",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Market share recovered 1 percentage point to 51% in 2016 but ceded gains in 2017 and 2018 as industry discounting remained pervasive and demand waned.",
    "output": "[Cause] industry discounting remained pervasive and demand waned [Relation] cause [Effect] ceded gains in 2017 and 2018",
    "gold": "[Cause] industry discounting remained pervasive and demand waned [Relation] cause [Effect] ceded gains in 2017 and 2018",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We think this pricing power will decrease as Public Storage enters markets with less demand and the coronavirus crisis dampens the industry environment.",
    "output": "[Cause] Public Storage enters markets with less demand [Relation] cause [Effect] this pricing power will decrease",
    "gold": "[Cause] the coronavirus crisis dampens the industry environment [Relation] cause [Effect] this pricing power will decrease",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We think this pricing power will decrease as Public Storage enters markets with less demand and the coronavirus crisis dampens the industry environment.",
    "output": "[Cause] the coronavirus crisis [Relation] cause [Effect] dampens the industry environment",
    "gold": "[Cause] Public Storage enters markets with less demand [Relation] cause [Effect] this pricing power will decrease",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Changes in reimbursement policies can have an outsize effect on Coloplast's business--both the volume of product sold and the adoption of new products--especially for products sold through home health channels.",
    "output": "[Cause] Changes in reimbursement policies [Relation] cause [Effect] have an outsize effect on Coloplast's business--both the volume of product sold and the adoption of new products--especially for products sold through home health channels",
    "gold": "[Cause] Changes in reimbursement policies [Relation] cause [Effect] have an outsize effect on Coloplast's business--both the volume of product sold and the adoption of new products--especially for products sold through home health channels",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Suppliers get access to a broad range of customers by using Avnet without having to make significant investment in sales and engineering teams.",
    "output": "[Cause] using Avnet [Relation] enable [Effect] Suppliers get access to a broad range of customers",
    "gold": "[Cause] Suppliers get access to a broad range of customers [Relation] prevent [Effect] investment in sales and engineering teams",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Yet, a critical benefit of battery-electric powertrains is significantly reduced maintenance costs, as both major engine repairs and routine maintenance service are largely avoided.",
    "output": "[Cause] both major engine repairs and routine maintenance service are largely avoided [Relation] cause [Effect] a critical benefit of battery-electric powertrains is significantly reduced maintenance costs",
    "gold": "[Cause] battery-electric powertrains [Relation] prevent [Effect] maintenance costs",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We do not think Dick's has any ability to prevent its vendors from supplying competitors with similar merchandise, suggestive of a company with no competitive advantage.",
    "output": "[Cause] We do not think Dick's has any ability [Relation] prevent [Effect] its vendors from supplying competitors with similar merchandise",
    "gold": "[Cause] any ability to prevent its vendors from supplying competitors with similar merchandise [Relation] cause [Effect] suggestive of a company with no competitive advantage",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Our cost/income ratio, as we calculate it, including litigation and conduct costs, drops from 65% in 2019 to 53% in the medium term as below-the-line items reduce materially.",
    "output": "[Cause] below-the-line items reduce materially [Relation] cause [Effect] Our cost/income ratio, as we calculate it, including litigation and conduct costs, drops from 65% in 2019 to 53% in the medium term",
    "gold": "[Cause] below-the-line items reduce materially [Relation] cause [Effect] Our cost/income ratio, as we calculate it, including litigation and conduct costs, drops from 65% in 2019 to 53% in the medium term",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We believe it will take this long as the company's capital expenditures will remain elevated--averaging 10% of net revenue through our 10-year forecast period and reaching 7% by 2030, as Aphria expands operations to meet our volume forecast.",
    "output": "[Cause] Aphria expands operations [Relation] enable [Effect] meet our volume forecast",
    "gold": "[Cause] Aphria expands operations to meet our volume forecast [Relation] cause [Effect] averaging 10% of net revenue through our 10-year forecast period and reaching 7% by 2030",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We believe it will take this long as the company's capital expenditures will remain elevated--averaging 10% of net revenue through our 10-year forecast period and reaching 7% by 2030, as Aphria expands operations to meet our volume forecast.",
    "output": "[Cause] Aphria expands operations to meet our volume forecast [Relation] cause [Effect] reaching 7% by 2030",
    "gold": "[Cause] the company's capital expenditures will remain elevated [Relation] cause [Effect] it will take this long",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "In addition, slower user growth could make higher monetization of users an increasingly difficult task as advertisers may allocate a bit more toward other platforms such as Snap, which has a faster-growing user base.",
    "output": "[Cause] advertisers may allocate a bit more toward other platforms such as Snap [Relation] cause [Effect] slower user growth could make higher monetization of users an increasingly difficult task",
    "gold": "[Cause] slower user growth [Relation] cause [Effect] make higher monetization of users an increasingly difficult task",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We also expect the firm's network effects to help Match Group further consolidate the technological infrastructure for all its brands, make them more scalable, and streamline its operation more effectively, creating operating leverage.",
    "output": "[Cause] the firm's network effects [Relation] enable [Effect] Match Group further consolidate the technological infrastructure for all its brands, make them more scalable, and streamline its operation more effectively, creating operating leverage",
    "gold": "[Cause]  Match Group further consolidate the technological infrastructure for all its brands [Relation] enable [Effect] them more scalable, and streamline its operation more effectively, creating operating leverage",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "However, flash storage technology becomes commoditized quite quickly with well capitalized competitors, such as Samsung, pushing the technological boundaries, particularly on the component side for mobile devices.",
    "output": "[Cause] well capitalized competitors, such as Samsung [Relation] cause [Effect] flash storage technology becomes commoditized quite quickly",
    "gold": "[Cause] flash storage technology becomes commoditized quite quickly [Relation] cause [Effect] pushing the technological boundaries, particularly on the component side for mobile devices",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We believe coronavirus-related store closures and franchisee investments will result in a near 20% decline in adjusted operating income in 2020, implying 39% adjusted operating margins for the full year (versus 44% a year ago).",
    "output": "[Cause] coronavirus-related store closures and franchisee investments [Relation] cause [Effect] a near 20% decline in adjusted operating income in 2020, implying 39% adjusted operating margins for the full year (versus 44% a year ago)",
    "gold": "[Cause] We believe coronavirus-related store closures and franchisee investments [Relation] enable [Effect] will result in a near 20% decline in adjusted operating income in 2020",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Qorvo has significant customer concentration with Apple (33% of fiscal 2020 revenue), and it would be a damaging blow to the firm if it were to ever miss out on a future iPhone design cycle.",
    "output": "[Cause] Qorvo has significant customer concentration with Apple (33% of fiscal 2020 revenue) [Relation] cause [Effect] it would be a damaging blow to the firm if it were to ever miss out on a future iPhone design cycle",
    "gold": "[Cause]  miss out on a future iPhone design cycle [Relation] cause [Effect] a damaging blow to the firm",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We give LivaNova a high uncertainty rating, which reflects the firm's relatively limited product portfolio, relatively fewer resources to support the product pipeline, and our skeptical view of the efficacy of neuromodulation for refractory depression.",
    "output": "[Cause] the firm's relatively limited product portfolio, relatively fewer resources to support the product pipeline [Relation] cause [Effect] We give LivaNova a high uncertainty rating",
    "gold": "[Cause] our skeptical view of the efficacy of neuromodulation for refractory depression [Relation] enable [Effect] We give LivaNova a high uncertainty rating",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We think the lack of regulation and commodity price and volume sensitivity make long-term returns less certain than its legacy assets.",
    "output": "[Cause] the lack of regulation and commodity price and volume sensitivity [Relation] cause [Effect] long-term returns less certain than its legacy assets",
    "gold": "[Cause] the lack of regulation and commodity price and volume sensitivity [Relation] enable [Effect] long-term returns less certain than its legacy assets",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Firms like AT&amp;T and Verizon use fiber for their own fixed-line businesses, so they don't need to justify spending with only the wireless business in mind.",
    "output": "[Cause] Firms like AT&amp;T and Verizon use fiber for their own fixed-line businesses [Relation] cause [Effect] they don't need to justify spending with only the wireless business in mind",
    "gold": "[Cause] they don't need to justify spending with only the wireless business in mind [Relation] cause [Effect] Firms like AT&amp;T and Verizon use fiber for their own fixed-line businesses",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Ultimately, there's a tough road ahead but we believe the company can sustain low-single-digit growth longer term, especially as the benefits of management's revitalization plan are less masked by pandemic-induced disruption.",
    "output": "[Cause] the benefits of management's revitalization plan are less masked by pandemic-induced disruption [Relation] cause [Effect] the company can sustain low-single-digit growth longer term",
    "gold": "[Cause]  the benefits of management's revitalization plan are less masked by pandemic-induced disruption [Relation] enable [Effect]  the company can sustain low-single-digit growth longer term",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Even what might have been a smaller glitch could develop into a catastrophic system failure without proper maintenance and support.",
    "output": "[Cause] without proper maintenance and support [Relation] cause [Effect] Even what might have been a smaller glitch could develop into a catastrophic system failure",
    "gold": "[Cause] a smaller glitch [Relation] enable [Effect] develop into a catastrophic system failure",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Increased attrition could cause wear on Infosys' intangible assets, as less technical and industry expertise would remain in the firm.",
    "output": "[Cause] less technical and industry expertise would remain in the firm [Relation] cause [Effect] Increased attrition could cause wear on Infosys' intangible assets",
    "gold": "[Cause] less technical and industry expertise would remain in the firm [Relation] cause [Effect] Increased attrition could cause wear on Infosys' intangible assets",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We forecast IBM's revenue will rise at a compound annual growth rate of 2% over the next five years, as the company's segments gradually change weights.",
    "output": "[Cause] the company's segments gradually change weights [Relation] cause [Effect] IBM's revenue will rise at a compound annual growth rate of 2% over the next five years",
    "gold": "[Cause] the company's segments gradually change weights [Relation] enable [Effect] IBM's revenue will rise at a compound annual growth rate of 2% over the next five years",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "As a result of the team agreements, the firm passes through much of its revenue to the teams via the prize fund, Constructors' Championship, fixed payments to certain teams, and other payments.",
    "output": "[Cause] the team agreements [Relation] cause [Effect] the firm passes through much of its revenue to the teams via the prize fund, Constructors' Championship, fixed payments to certain teams, and other payments",
    "gold": "[Cause] the team agreements [Relation] enable [Effect] the firm passes through much of its revenue to the teams via the prize fund, Constructors' Championship, fixed payments to certain teams, and other payments",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In our view, it lacks the types of sustainable competitive advantages we have seen in its competitors, because we don't see its data centers being as differentiated.",
    "output": "[Cause] we don't see its data centers being as differentiated [Relation] cause [Effect] it lacks the types of sustainable competitive advantages we have seen in its competitors",
    "gold": "[Cause]  we don't see its data centers being as differentiated [Relation] cause [Effect]  it lacks the types of sustainable competitive advantages we have seen in its competitors",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "With the bank embarking on another round of restructuring, we assume operating costs to decline to USD 30 billion by 2022, offset by higher investment in technology.",
    "output": "[Cause] the bank embarking on another round of restructuring [Relation] cause [Effect] operating costs to decline to USD 30 billion by 2022, offset by higher investment in technology",
    "gold": "[Cause] the bank embarking on another round of restructuring [Relation] enable [Effect] operating costs to decline to USD 30 billion by 2022, offset by higher investment in technology",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "However, the firm has had issues with its 10-nanometer process in recent years, and has announced its 7-nm process will be delayed until 2023, thus opening the door for competitors such as AMD to gain share.",
    "output": "[Cause] the firm has had issues with its 10-nanometer process in recent years, and has announced its 7-nm process will be delayed until 2023 [Relation] cause [Effect] opening the door for competitors such as AMD to gain share",
    "gold": "[Cause] the firm has had issues with its 10-nanometer process in recent years, and has announced its 7-nm process will be delayed until 2023 [Relation] cause [Effect] opening the door for competitors such as AMD to gain share",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Diversification has come primarily via acquisitions and fiber network construction, which spawned the firm's fiber infrastructure segment, where Uniti leases dark and lit fiber and small cells to wireless carriers and other enterprises.",
    "output": "[Cause] acquisitions and fiber network construction [Relation] cause [Effect] Diversification has come primarily",
    "gold": "[Cause] Diversification has come primarily via acquisitions and fiber network construction [Relation] cause [Effect] spawned the firm's fiber infrastructure segment",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "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 during our five-year forecast period. As a result, the company should be able to generate at least $725 million in free cash flow (defined as cash flow from operations less capital expenditures) on average annually during 2021-25.",
    "output": "[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 during our five-year forecast period [Relation] cause [Effect] the company should be able to generate at least $725 million in free cash flow (defined as cash flow from operations less capital expenditures) on average annually during 2021-25",
    "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 during our five-year forecast period [Relation] cause [Effect] the company should be able to generate at least $725 million in free cash flow (defined as cash flow from operations less capital expenditures) on average annually during 2021-25",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "While Macerich's revenue is somewhat protected by long-term leases, we see retailer bankruptcies causing a further drop in occupancy and Macerich being forced to offer rent concessions to keep others afloat.",
    "output": "[Cause] retailer bankruptcies [Relation] cause [Effect] a further drop in occupancy",
    "gold": "[Cause]  long-term leases [Relation] enable [Effect] Macerich's revenue",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "While Macerich's revenue is somewhat protected by long-term leases, we see retailer bankruptcies causing a further drop in occupancy and Macerich being forced to offer rent concessions to keep others afloat.",
    "output": "[Cause] retailer bankruptcies [Relation] cause [Effect] a further drop in occupancy",
    "gold": "[Cause]  offer rent concessions [Relation] enable [Effect] others afloat",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "American Express' billings outside of these industries is already above prepandemic levels, but a full recovery for the company will rely on a return to normalcy from pandemic conditions. Thus, American Express' immediate prospects are dependent on the timing and success of the vaccine rollout both in the United States and abroad, making 2021 a transition year.",
    "output": "[Cause] American Express' billings outside of these industries is already above prepandemic levels, but a full recovery for the company will rely on a return to normalcy from pandemic conditions [Relation] cause [Effect] American Express' immediate prospects are dependent on the timing and success of the vaccine rollout both in the United States and abroad, making 2021 a transition year",
    "gold": "[Cause] American Express' billings outside of these industries is already above prepandemic levels, but a full recovery for the company will rely on a return to normalcy from pandemic conditions [Relation] cause [Effect] American Express' immediate prospects are dependent on the timing and success of the vaccine rollout both in the United States and abroad, making 2021 a transition year",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Our high uncertainty rating reflects Posco's high leverage to consumer spending and economic activity, as well as the cyclicality of commodities prices.",
    "output": "[Cause] Posco's high leverage to consumer spending and economic activity, as well as the cyclicality of commodities prices [Relation] cause [Effect] Our high uncertainty rating",
    "gold": "[Cause] Our high uncertainty rating [Relation] enable [Effect] reflects Posco's high leverage to consumer spending and economic activity, as well as the cyclicality of commodities prices",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We think an erosion in the quality and size of this wholesale force as well as the relevance of the IT platform would have a significantly detrimental effect on the position of the business.",
    "output": "[Cause] an erosion in the quality and size of this wholesale force as well as the relevance of the IT platform [Relation] cause [Effect] have a significantly detrimental effect on the position of the business",
    "gold": "[Cause]  an erosion in the quality and size of this wholesale force as well as the relevance of the IT platform [Relation] cause [Effect]  have a significantly detrimental effect on the position of the business",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Tenet's highly leveraged capital structure creates immense sensitivity when trying to pinpoint equity valuation, which is the primary reason we assign an extreme uncertainty rating to the company.",
    "output": "[Cause] Tenet's highly leveraged capital structure [Relation] cause [Effect] immense sensitivity when trying to pinpoint equity valuation",
    "gold": "[Cause] Tenet's highly leveraged capital structure creates immense sensitivity when trying to pinpoint equity valuation [Relation] cause [Effect] the primary reason we assign an extreme uncertainty rating to the company",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Tenet's highly leveraged capital structure creates immense sensitivity when trying to pinpoint equity valuation, which is the primary reason we assign an extreme uncertainty rating to the company.",
    "output": "[Cause] Tenet's highly leveraged capital structure creates immense sensitivity when trying to pinpoint equity valuation [Relation] cause [Effect] we assign an extreme uncertainty rating to the company",
    "gold": "[Cause] Tenet's highly leveraged capital structure [Relation] cause [Effect] immense sensitivity",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "These homes might either lower housing prices and siphon off the best-capitalized renters to purchase a larger home or create more rental stock and create more competition in the rental market.",
    "output": "[Cause] lower housing prices and siphon off the best-capitalized renters to purchase a larger home or create more rental stock and create more competition in the rental market [Relation] cause [Effect] These homes might either create more rental stock and create more competition in the rental market",
    "gold": "[Cause] either lower housing prices [Relation] enable [Effect]  siphon off the best-capitalized renters to purchase a larger home or create more rental stock and create more competition in the rental market",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Coal demand has contracted as utilities substitute renewable energy sources and due to inexpensive natural gas, and we expect the secular diminution of coal to continue.",
    "output": "[Cause] utilities substitute renewable energy sources and due to inexpensive natural gas [Relation] cause [Effect] Coal demand has contracted",
    "gold": "[Cause]  utilities substitute renewable energy sources and due to inexpensive natural gas [Relation] cause [Effect] Coal demand has contracted",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "That said, demand and pricing have mounted a robust sequential recovery off pandemic lows, while even exceeding levels seen a year ago during the third quarter, with help from recovering economic conditions, tightening trucking market capacity, heavy retailer restocking, and a spike in spot opportunities.",
    "output": "[Cause] recovering economic conditions, tightening trucking market capacity, heavy retailer restocking, and a spike in spot opportunities [Relation] enable [Effect] demand and pricing have mounted a robust sequential recovery off pandemic lows, while even exceeding levels seen a year ago during the third quarter",
    "gold": "[Cause] recovering economic conditions, tightening trucking market capacity, heavy retailer restocking, and a spike in spot opportunities [Relation] cause [Effect] demand and pricing have mounted a robust sequential recovery off pandemic lows, while even exceeding levels seen a year ago during the third quarter",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "However, on a consolidated basis, Santander's diverse lending book, with exposure to markets that are not necessarily correlated, provides it with downside protection during downturns in the credit cycle of a region or asset class. Consequently, Santander's earnings have showed the least volatility out of all the large European universal banks over the past two decades.",
    "output": "[Cause] on a consolidated basis, Santander's diverse lending book, with exposure to markets that are not necessarily correlated, provides it with downside protection during downturns in the credit cycle of a region or asset class [Relation] cause [Effect] Santander's earnings have shown the least volatility out of all the large European universal banks over the past two decades",
    "gold": "[Cause] on a consolidated basis, Santander's diverse lending book, with exposure to markets that are not necessarily correlated, provides it with downside protection during downturns in the credit cycle of a region or asset class [Relation] cause [Effect] Santander's earnings have showed the least volatility out of all the large European universal banks over the past two decades",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Ulta's sales increased to $7.4 billion in 2019 from $912 million in 2007 as it opened about 1,000 stores and its stores became more productive.",
    "output": "[Cause] it opened about 1,000 stores and its stores became more productive [Relation] cause [Effect] Ulta's sales increased to $7.4 billion in 2019 from $912 million in 2007",
    "gold": "[Cause] it opened about 1,000 stores and its stores became more productive [Relation] cause [Effect] Ulta's sales increased to $7.4 billion in 2019 from $912 million in 2007",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "However, we expect the combination of higher sales volume and SG&A cost containment will result in operating leverage that will more than offset gross margin compression.",
    "output": "[Cause] the combination of higher sales volume and SG&A cost containment [Relation] cause [Effect] operating leverage",
    "gold": "[Cause] the combination of higher sales volume and SG&A cost containment [Relation] cause [Effect] operating leverage",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "However, we expect the combination of higher sales volume and SG&A cost containment will result in operating leverage that will more than offset gross margin compression.",
    "output": "[Cause] the combination of higher sales volume and SG&A cost containment [Relation] cause [Effect] operating leverage",
    "gold": "[Cause] operating leverage [Relation] enable [Effect] more than offset gross margin compression",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "However, recent multiyear rate cases have allowed forward-looking estimates of capital expenditures and rate base, allowing Consolidated Edison Company of New York, Con Ed's largest subsidiary, to earn near or above its allowed return on equity.",
    "output": "[Cause] recent multiyear rate cases have allowed forward-looking estimates of capital expenditures and rate base [Relation] enable [Effect] Consolidated Edison Company of New York, Con Ed's largest subsidiary, to earn near or above its allowed return on equity",
    "gold": "[Cause] recent multiyear rate cases have allowed forward-looking estimates of capital expenditures and rate base [Relation] cause [Effect]  earn near or above its allowed return on equity.",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "To maintain earned returns near allowed returns during this period of high investment, management has worked to reduced regulatory lag risk in Iowa, received above average allowed returns across its subsidiaries, and an objective to keep continue to reduce operating costs for the near term.",
    "output": "[Cause] management has worked to reduced regulatory lag risk in Iowa, received above average allowed returns across its subsidiaries, and an objective to keep continue to reduce operating costs for the near term [Relation] enable [Effect] maintain earned returns near allowed returns during this period of high investment",
    "gold": "[Cause] management has worked to reduced regulatory lag risk in Iowa, received above average allowed returns across its subsidiaries, and an objective to keep continue to reduce operating costs for the near term [Relation] cause [Effect] maintain earned returns near allowed returns during this period of high investment",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We understand that each visit generates positive gross margins, suggesting that the reported operating losses are largely attributable to scaling infrastructure and marketing investments to address incremental services and anticipated volume growth.",
    "output": "[Cause] scaling infrastructure and marketing investments to address incremental services and anticipated volume growth [Relation] cause [Effect] the reported operating losses",
    "gold": "[Cause] scaling infrastructure and marketing investments to address incremental services and anticipated volume growth [Relation] cause [Effect]  the reported operating losses",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "If the firm is unable to effectively source and integrate new employees, this could slow innovation and affect its competitive positioning.",
    "output": "[Cause] the firm is unable to effectively source and integrate new employees [Relation] cause [Effect] slow innovation and affect its competitive positioning",
    "gold": "[Cause] the firm is unable to effectively source and integrate new employees [Relation] cause [Effect] slow innovation and affect its competitive positioning",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We expect VAS revenue to increase at a 10-year compound annual growth rate of 13%, driven by new key game launches, improvement in monetization of existing popular mobile games, expansion of international games, expansion of game genres, and increased willingness to subscribe to content in China.",
    "output": "[Cause] new key game launches, improvement in monetization of existing popular mobile games, expansion of international games, expansion of game genres, and increased willingness to subscribe to content in China [Relation] cause [Effect] VAS revenue to increase at a 10-year compound annual growth rate of 13%",
    "gold": "[Cause] new key game launches, improvement in monetization of existing popular mobile games, expansion of international games, expansion of game genres, and increased willingness to subscribe to content in China [Relation] enable [Effect] VAS revenue to increase at a 10-year compound annual growth rate of 13%",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "They would also require assistance in threat hunting and remediation, which can cause CrowdStrike's solutions to become an essential part of security spending.",
    "output": "[Cause] They would also require assistance in threat hunting and remediation [Relation] cause [Effect] CrowdStrike's solutions to become an essential part of security spending",
    "gold": "[Cause] They would also require assistance in threat hunting and remediation [Relation] cause [Effect] CrowdStrike's solutions to become an essential part of security spending",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Core Lab faces obvious risk from sustainably lower oil prices, which would lead to lower overall oilfield expenditure levels and thus lower financial results for the company.",
    "output": "[Cause] Core Lab faces obvious risk from sustainably lower oil prices [Relation] cause [Effect] lower overall oilfield expenditure levels",
    "gold": "[Cause]  lead to lower overall oilfield expenditure levels [Relation] cause [Effect] lower financial results for the company",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Core Lab faces obvious risk from sustainably lower oil prices, which would lead to lower overall oilfield expenditure levels and thus lower financial results for the company.",
    "output": "[Cause] Core Lab faces obvious risk from sustainably lower oil prices [Relation] cause [Effect] lower overall oilfield expenditure levels and thus lower financial results for the company",
    "gold": "[Cause] risk from sustainably lower oil prices [Relation] cause [Effect]  lead to lower overall oilfield expenditure levels",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We believe the returns from the pipeline network, supported by a powerful position in the Permian Basin, which is also the lowest-cost U.S.",
    "output": "[Cause] a powerful position in the Permian Basin [Relation] enable [Effect] the returns from the pipeline network",
    "gold": "[Cause] a powerful position in the Permian Basin [Relation] cause [Effect] the returns from the pipeline network",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We expect the margin will remain flat in 2021 as integration efforts fully ramp up and then begin expanding rapidly.",
    "output": "[Cause] integration efforts fully ramp up and then begin expanding rapidly [Relation] cause [Effect] the margin will remain flat in 2021",
    "gold": "[Cause] integration efforts fully ramp up and then begin expanding rapidly [Relation] cause [Effect] the margin will remain flat in 2021",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We project that the bank's net interest margins will decrease in 2020 because of rate cuts and an uncertain economic environment, although they are partially protected from the bank's robust hedging program.",
    "output": "[Cause] rate cuts and an uncertain economic environment [Relation] cause [Effect] the bank's net interest margins will decrease in 2020",
    "gold": "[Cause] rate cuts and an uncertain economic environment [Relation] cause [Effect] the bank's net interest margins will decrease in 2020",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "With approximately 80% of the firm's revenue related to asset-based fees, SEI's revenue and profitability are sensitive to equity markets, asset flows, and the fee rate it earns.",
    "output": "[Cause] approximately 80% of the firm's revenue related to asset-based fees [Relation] cause [Effect] SEI's revenue and profitability are sensitive to equity markets, asset flows, and the fee rate it earns",
    "gold": "[Cause] approximately 80% of the firm's revenue related to asset-based fees [Relation] cause [Effect] SEI's revenue and profitability are sensitive to equity markets, asset flows, and the fee rate it earns",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We anticipate flat to slightly declining margins in the other segments, as we think Northrop's classified business is primarily lower-margin development programs.",
    "output": "[Cause] Northrop's classified business is primarily lower-margin development programs [Relation] cause [Effect] flat to slightly declining margins in the other segments",
    "gold": "[Cause] Northrop's classified business is primarily lower-margin development programs [Relation] cause [Effect] flat to slightly declining margins in the other segments",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We are less bullish about the earnings contribution from the power and industrial segment as reduced emissions fuel, or REF, earnings decline from the expiration of tax credits.",
    "output": "[Cause] reduced emissions fuel, or REF, earnings decline from the expiration of tax credits [Relation] cause [Effect] We are less bullish about the earnings contribution from the power and industrial segment",
    "gold": "[Cause] reduced emissions fuel, or REF, earnings decline from the expiration of tax credits [Relation] cause [Effect] We are less bullish about the earnings contribution from the power and industrial segment",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We are less bullish about the earnings contribution from the power and industrial segment as reduced emissions fuel, or REF, earnings decline from the expiration of tax credits.",
    "output": "[Cause] earnings decline from the expiration of tax credits [Relation] cause [Effect] We are less bullish about the earnings contribution from the power and industrial segment",
    "gold": "[Cause] the expiration of tax credits [Relation] cause [Effect] REF, earnings decline",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Even in good times, fleet owners are sometimes forced to hold off on expanding their fleet to meet demand, due to driver shortages.",
    "output": "[Cause] driver shortages [Relation] cause [Effect] fleet owners are sometimes forced to hold off on expanding their fleet to meet demand",
    "gold": "[Cause] driver shortages [Relation] cause [Effect] fleet owners are sometimes forced to hold off on expanding their fleet to meet demand",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The broad appeal of automating processes across the enterprise has opened up a larger array of use cases for the company's solutions. These factors have allowed ServiceNow to initially bore deeply into the IT function and then to expand to other non-IT functions.",
    "output": "[Cause] The broad appeal of automating processes across the enterprise has opened up a larger array of use cases for the company's solutions [Relation] enable [Effect] ServiceNow to initially bore deeply into the IT function and then to expand to other non-IT functions",
    "gold": "[Cause] The broad appeal of automating processes across the enterprise has opened up a larger array of use cases for the company's solutions [Relation] enable [Effect]  ServiceNow to initially bore deeply into the IT function and then to expand to other non-IT functions",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The recent approval of the ExoDx biopsy test was well-timed, given that the test can be sent directly to a patient's home for urine collection following approval from a telehealth doctor.",
    "output": "[Cause] the test can be sent directly to a patient's home for urine collection following approval from a telehealth doctor [Relation] cause [Effect] The recent approval of the ExoDx biopsy test was well-timed",
    "gold": "[Cause] the test can be sent directly to a patient's home for urine collection following approval from a telehealth doctor [Relation] cause [Effect] The recent approval of the ExoDx biopsy test was well-timed",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Continued focuses on retail fundamentals (merchandising excellence, operational efficiency, supply chain improvements, and customer engagement), Lowe's scale should help it leverage expenses and maintain its low-cost position.",
    "output": "[Cause] Continued focuses on retail fundamentals (merchandising excellence, operational efficiency, supply chain improvements, and customer engagement) [Relation] enable [Effect] Lowe's scale should help it leverage expenses and maintain its low-cost position",
    "gold": "[Cause] Lowe's scale [Relation] enable [Effect] help it leverage expenses and maintain its low-cost position",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Other product examples include Eaton's Engine Brake, which can reduce a truck driver's total cost of ownership by reducing the friction and heat wear and tear associated with breaking.",
    "output": "[Cause] reducing the friction and heat wear and tear associated with breaking [Relation] enable [Effect] reduce a truck driver's total cost of ownership",
    "gold": "[Cause]  reducing the friction and heat wear and tear associated with breaking [Relation] enable [Effect] reduce a truck driver's total cost of ownership",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In addition, as the firm adds more users and compiles more user behavior data, limitations possibly imposed by regulatory agencies around the world on what user and usage data Snap can compile and how the data can be utilized, remain a risk.",
    "output": "[Cause] the firm adds more users and compiles more user behavior data [Relation] cause [Effect] limitations possibly imposed by regulatory agencies around the world on what user and usage data Snap can compile and how the data can be utilized, remain a risk",
    "gold": "[Cause] the firm adds more users and compiles more user behavior data [Relation] cause [Effect] limitations possibly imposed by regulatory agencies around the world on what user and usage data Snap can compile and how the data can be utilized, remain a risk",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Although the pandemic's sales surge should ease in mid-2021 as vaccination rates rise and comparisons become challenging, O'Reilly's long-term strength remains rooted in its competitive advantages.",
    "output": "[Cause] vaccination rates rise and comparisons become challenging [Relation] cause [Effect] the pandemic's sales surge should ease in mid-2021",
    "gold": "[Cause] vaccination rates rise and comparisons become challenging [Relation] cause [Effect]  O'Reilly's long-term strength remains rooted in its competitive advantages",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We expect asset quality to remain stable for the remainder for 2021 and any increase in credit cost limited to lower profitability, with the bank's balance sheet remaining intact.",
    "output": "[Cause] asset quality to remain stable for the remainder for 2021 and any increase in credit cost limited to lower profitability [Relation] cause [Effect] the bank's balance sheet remaining intact",
    "gold": "[Cause] the bank's balance sheet remaining intact [Relation] cause [Effect] asset quality to remain stable for the remainder for 2021 and any increase in credit cost limited to lower profitability",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Even after the benefits of the mandate are incurred, we think the aviation segment will maintain its foothold in defense and general aircraft as the avionics space is highly regulated and Garmin has proved its ability to obtain original-equipment manufacturer wins.",
    "output": "[Cause] the avionics space is highly regulated and Garmin has proved its ability to obtain original-equipment manufacturer wins [Relation] cause [Effect] the aviation segment will maintain its foothold in defense and general aircraft",
    "gold": "[Cause] the avionics space is highly regulated and Garmin has proved its ability to obtain original-equipment manufacturer wins [Relation] cause [Effect] the aviation segment will maintain its foothold in defense and general aircraft",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Its innovative and effective cybersecurity products penetrated customer networks, and we believe replacing Palo Alto products and services would be considerably disruptive.",
    "output": "[Cause] Its innovative and effective cybersecurity products penetrated customer networks [Relation] cause [Effect] replacing Palo Alto products and services would be considerably disruptive",
    "gold": "[Cause] Its innovative and effective cybersecurity products penetrated customer networks [Relation] cause [Effect] replacing Palo Alto products and services would be considerably disruptive",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Nestle has significant balance sheet optionality, and any transformative acquisitions or divestments could drive changes to our valuation, depending on the transaction value and the assets bought or divested.",
    "output": "[Cause] any transformative acquisitions or divestments [Relation] cause [Effect] changes to our valuation",
    "gold": "[Cause] any transformative acquisitions or divestments could drive changes to our valuation [Relation] enable [Effect] Nestle has significant balance sheet optionality",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Hostess has responded to consumer concerns by launching some products without artificial flavors, colors, and HFCS, but if these changes alter the taste of the goods, consumers may balk.",
    "output": "[Cause] these changes alter the taste of the goods [Relation] cause [Effect] consumers may balk",
    "gold": "[Cause] launching some products without artificial flavors, colors, and HFCS [Relation] enable [Effect] alter the taste of the goods",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We expect HPE's intelligent edge to post growth as enterprises install more software-defined networking and use more wireless products closer to the end users.",
    "output": "[Cause] enterprises install more software-defined networking and use more wireless products closer to the end users [Relation] cause [Effect] HPE's intelligent edge to post growth",
    "gold": "[Cause] enterprises install more software-defined networking and use more wireless products closer to the end users [Relation] cause [Effect] HPE's intelligent edge to post growth",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "All in all, this is slightly positive because the return cut in ED-2 might be less harsh than in RIIO-2 should Gilt yields increase and WPD assets have been well performing historically unlike NGGT.",
    "output": "[Cause] the return cut in ED-2 might be less harsh than in RIIO-2 should Gilt yields increase and WPD assets have been well performing historically unlike NGGT [Relation] cause [Effect] this is slightly positive",
    "gold": "[Cause] the return cut in ED-2 might be less harsh than in RIIO-2 should Gilt yields increase and WPD assets have been well performing historically unlike NGGT [Relation] enable [Effect]  this is slightly positive",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Scale and deepening relationships should help O'Reilly curry favor with vendors and efficiently manage inventory, leading its payables/inventory ratio to average 111% over the next decade, approximating AutoZone's pre-pandemic marks.",
    "output": "[Cause] Scale and deepening relationships [Relation] enable [Effect] help O'Reilly curry favor with vendors and efficiently manage inventory",
    "gold": "[Cause] O'Reilly curry favor with vendors and efficiently manage inventory [Relation] enable [Effect]  its payables/inventory ratio to average 111% over the next decade",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We anticipate 2021 capacity will be about 83% of 2019 levels, 2021 load factors will be at roughly 74%, and that yields will increase with demand.",
    "output": "[Cause] 2021 capacity will be about 83% of 2019 levels, 2021 load factors will be at roughly 74% [Relation] cause [Effect] yields will increase with demand",
    "gold": "[Cause] yields will increase with demand [Relation] cause [Effect] We anticipate 2021 capacity will be about 83% of 2019 levels, 2021 load factors will be at roughly 74%",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "The COVID-19 outbreak has presented a challenge as most company-owned and third-party stores that carry its products have suffered temporary closures.",
    "output": "[Cause] most company-owned and third-party stores that carry its products have suffered temporary closures [Relation] cause [Effect] The COVID-19 outbreak has presented a challenge",
    "gold": "[Cause] The COVID-19 outbreak [Relation] cause [Effect] most company-owned and third-party stores that carry its products have suffered temporary closures",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "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. Consequently, consumers have favored Nvidia's GPUs for gaming, with the firm boasting over 80% share in the discrete GPU market, with little resistance from AMD at the leading-edge.",
    "output": "[Cause] 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 [Relation] cause [Effect] consumers have favored Nvidia's GPUs for gaming, with the firm boasting over 80% share in the discrete GPU market, with little resistance from AMD at the leading-edge",
    "gold": "[Cause]  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 [Relation] cause [Effect] consumers have favored Nvidia's GPUs for gaming, with the firm boasting over 80% share in the discrete GPU market, with little resistance from AMD at the leading-edge",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Additionally, some of Merck's biologics are sold in combination with an administrative device, which adds to the sustainability of returns in our opinion.",
    "output": "[Cause] some of Merck's biologics are sold in combination with an administrative device [Relation] enable [Effect] adds to the sustainability of returns in our opinion",
    "gold": "[Cause]  some of Merck's biologics are sold in combination with an administrative device [Relation] enable [Effect] adds to the sustainability of returns in our opinion",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "This has helped the company maintain above average levels of annual organic growth despite the increased size and scale of its operations.",
    "output": "[Cause] the increased size and scale of its operations [Relation] enable [Effect] the company maintain above average levels of annual organic growth",
    "gold": "[Cause] This [Relation] enable [Effect] helped the company maintain above average levels of annual organic growth",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "The contractor bears the financial risk of cost overruns for these programs, so a poorly executed development program would financially strain Lockheed.",
    "output": "[Cause] The contractor bears the financial risk of cost overruns for these programs [Relation] cause [Effect] a poorly executed development program would financially strain Lockheed",
    "gold": "[Cause] The contractor bears the financial risk of cost overruns for these programs [Relation] cause [Effect] a poorly executed development program would financially strain Lockheed",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "CyrusOne believes it has a cost advantage over competitors that stems mostly from the type of personnel it employs and the company culture to continually find ways to be the low-cost builder in the industry and have more flexible and efficient data centers.",
    "output": "[Cause] the type of personnel it employs and the company culture [Relation] cause [Effect] CyrusOne believes it has a cost advantage over competitors",
    "gold": "[Cause]  the type of personnel it employs and the company culture [Relation] enable [Effect] CyrusOne believes it has a cost advantage over competitors",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In the longer term, we expect pharma will drive firmwide growth as the other segments return to near-GDP-level growth, and we expect average growth in pharma of 8% through our explicit forecast period.",
    "output": "[Cause] the other segments return to near-GDP-level growth [Relation] cause [Effect] pharma will drive firmwide growth",
    "gold": "[Cause]  the other segments return to near-GDP-level growth [Relation] cause [Effect] pharma will drive firmwide growth",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Sempra management limits the risk with LNG development by entering into long-term contracts with creditworthy counterparties, many of which also become equity owners.",
    "output": "[Cause] entering into long-term contracts with creditworthy counterparties [Relation] enable [Effect] Sempra management limits the risk with LNG development",
    "gold": "[Cause] entering into long-term contracts with creditworthy counterparties [Relation] cause [Effect] Sempra management limits the risk with LNG development",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Canadian regulation also makes it more difficult for bad credit to be issued, including mandatory insurance and standards on riskier mortgage loans, not having a government-sponsored enterprise, like a government-subsidized mortgage securitization market, and forcing banks to hold more of the risk on their own balance sheets.",
    "output": "[Cause] Canadian regulation [Relation] cause [Effect] it more difficult for bad credit to be issued, including mandatory insurance and standards on riskier mortgage loans, not having a government-sponsored enterprise, like a government-subsidized mortgage securitization market, and forcing banks to hold more of the risk on their own balance sheets",
    "gold": "[Cause] Canadian regulation [Relation] enable [Effect]  makes it more difficult for bad credit to be issued",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We believe that leveraging advancements in technology helps to drive growth for the company and improve the competitiveness of its products.",
    "output": "[Cause] leveraging advancements in technology [Relation] enable [Effect] growth for the company and improve the competitiveness of its products",
    "gold": "[Cause] leveraging advancements in technology [Relation] cause [Effect]  growth for the company and improve the competitiveness of its products",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The firm should enjoy opportunities to build the brand globally while improving its cost structure, owing to an improving supply chain and distribution network as a result of direct sourcing and furniture delivery operations.",
    "output": "[Cause] direct sourcing and furniture delivery operations [Relation] cause [Effect] an improving supply chain and distribution network",
    "gold": "[Cause] direct sourcing and furniture delivery operations [Relation] cause [Effect] an improving supply chain and distribution network",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The firm should enjoy opportunities to build the brand globally while improving its cost structure, owing to an improving supply chain and distribution network as a result of direct sourcing and furniture delivery operations.",
    "output": "[Cause] direct sourcing and furniture delivery operations [Relation] cause [Effect] an improving supply chain and distribution network",
    "gold": "[Cause] an improving supply chain and distribution network [Relation] cause [Effect] The firm should enjoy opportunities to build the brand globally while improving its cost structure",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We expect a portion of idled paper capacity will be converted to linerboard production, attracted by the corrugated industry's healthy economics.",
    "output": "[Cause] the corrugated industry's healthy economics [Relation] cause [Effect] a portion of idled paper capacity will be converted to linerboard production",
    "gold": "[Cause] the corrugated industry's healthy economics [Relation] cause [Effect] a portion of idled paper capacity will be converted to linerboard production",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "On globalization, third-party merchants are successfully reaching Lazada's users across Southeast Asia, something that should continue as the company rolls out incremental personalized mobile marketing and content opportunities.",
    "output": "[Cause] the company rolls out incremental personalized mobile marketing and content opportunities [Relation] cause [Effect] On globalization, third-party merchants are successfully reaching Lazada's users across Southeast Asia",
    "gold": "[Cause] the company rolls out incremental personalized mobile marketing and content opportunities [Relation] cause [Effect] third-party merchants are successfully reaching Lazada's users across Southeast Asia, something that should continue",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Although the city has recovered from tragedy before, there is the risk that pandemic dents the city's reputation and causes it to lose its appeal as a desination for office real estate.",
    "output": "[Cause] pandemic dents the city's reputation [Relation] cause [Effect] lose its appeal as a desination for office real estate",
    "gold": "[Cause] the city has recovered from tragedy before [Relation] cause [Effect] the risk that pandemic dents the city's reputation and causes it to lose its appeal as a desination for office real estate",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "The business jet market is only about 700 deliveries annually (roughly 200 of which are long-range large-cabin) and demand is generally driven by new, high-quality products, as previous customers must be convinced to upgrade.",
    "output": "[Cause] new, high-quality products [Relation] cause [Effect] demand",
    "gold": "[Cause] previous customers must be convinced to upgrade [Relation] cause [Effect] demand is generally driven by new, high-quality products",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "The business jet market is only about 700 deliveries annually (roughly 200 of which are long-range large-cabin) and demand is generally driven by new, high-quality products, as previous customers must be convinced to upgrade.",
    "output": "[Cause] new, high-quality products [Relation] cause [Effect] demand",
    "gold": "[Cause] new, high-quality products [Relation] enable [Effect] demand",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "As apparel sales shift to digital channels, we do not view a two thirds increase in Old Navy's store base in a decade as economically viable.",
    "output": "[Cause] apparel sales shift to digital channels [Relation] cause [Effect] we do not view a two thirds increase in Old Navy's store base in a decade as economically viable",
    "gold": "[Cause] apparel sales shift to digital channels [Relation] cause [Effect] we do not view a two thirds increase in Old Navy's store base in a decade as economically viable",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We think this is reflective of the fact that agents are willing to dedicate a higher percentage of their advertising budget toward Zillow as it becomes the clear market share leader with access to the largest network of transaction ready homebuyers.",
    "output": "[Cause] it becomes the clear market share leader with access to the largest network of transaction ready homebuyers [Relation] cause [Effect] agents are willing to dedicate a higher percentage of their advertising budget toward Zillow",
    "gold": "[Cause] it becomes the clear market share leader with access to the largest network of transaction ready homebuyers [Relation] cause [Effect] agents are willing to dedicate a higher percentage of their advertising budget toward Zillow",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Strong demand is expected for the Asia/Pacific segment, where we are forecasting approximately 4% annual growth over the next five years. This is a result of having a low base of revenue combined with strong trends toward mechanization, farm consolidation, and protein consumption.",
    "output": "[Cause] having a low base of revenue combined with strong trends toward mechanization, farm consolidation, and protein consumption [Relation] cause [Effect] Strong demand is expected for the Asia/Pacific segment, where we are forecasting approximately 4% annual growth over the next five years",
    "gold": "[Cause] having a low base of revenue combined with strong trends toward mechanization, farm consolidation, and protein consumption [Relation] cause [Effect] Strong demand is expected for the Asia/Pacific segment, where we are forecasting approximately 4% annual growth over the next five years",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Because Corning's sales double that of its closest competitor, AGC, it can spread its fixed costs over a larger volume, resulting in an enduring lower average cost per glass substrate.",
    "output": "[Cause] Corning's sales double that of its closest competitor, AGC [Relation] cause [Effect] it can spread its fixed costs over a larger volume",
    "gold": "[Cause] it can spread its fixed costs over a larger volume [Relation] cause [Effect] an enduring lower average cost per glass substrate",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "In terms of ESG-related risks, because KCS carries freight for chemical end-market shippers, it is subject to the liabilities surrounding hazardous material spills.",
    "output": "[Cause] KCS carries freight for chemical end-market shippers [Relation] cause [Effect] it is subject to the liabilities surrounding hazardous material spills",
    "gold": "[Cause] KCS carries freight for chemical end-market shippers [Relation] cause [Effect] it is subject to the liabilities surrounding hazardous material spills",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The headline uncertainty at the moment is the extended grounding of the 737 MAX aircraft, which has flooded Boeing's balance sheet with excess inventory as the aircraft continues to be produced but not sold.",
    "output": "[Cause] the aircraft continues to be produced but not sold [Relation] cause [Effect] flooded Boeing's balance sheet with excess inventory",
    "gold": "[Cause] the aircraft continues to be produced but not sold [Relation] cause [Effect] flooded Boeing's balance sheet with excess inventory",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We believe that the uniqueness of Arista's EOS software and hardware, coupled with the high cost of changing vendors in a product refresh cycle every three to seven years, creates a reluctance to displace Arista's infrastructure.",
    "output": "[Cause] the uniqueness of Arista's EOS software and hardware, coupled with the high cost of changing vendors in a product refresh cycle every three to seven years [Relation] cause [Effect] a reluctance to displace Arista's infrastructure",
    "gold": "[Cause] the uniqueness of Arista's EOS software and hardware, coupled with the high cost of changing vendors in a product refresh cycle every three to seven years [Relation] cause [Effect] a reluctance to displace Arista's infrastructure",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "While Kroger will likely pursue partnerships and bolt-on acquisitions, we do not incorporate such deals into our valuation because of their uncertain nature and timing.",
    "output": "[Cause] their uncertain nature and timing [Relation] cause [Effect] we do not incorporate such deals into our valuation",
    "gold": "[Cause] their uncertain nature and timing [Relation] cause [Effect] we do not incorporate such deals into our valuation",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Given that a farmer's field data is contained in the app, we think the digital retail business offers traces of switching costs as farmers are unlikely to switch as the app will become an integral part of their business.",
    "output": "[Cause] the app will become an integral part of their business [Relation] cause [Effect] farmers are unlikely to switch",
    "gold": "[Cause] a farmer's field data is contained in the app [Relation] cause [Effect]  the digital retail business offers traces of switching costs",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Given that a farmer's field data is contained in the app, we think the digital retail business offers traces of switching costs as farmers are unlikely to switch as the app will become an integral part of their business.",
    "output": "[Cause] the app will become an integral part of their business [Relation] cause [Effect] farmers are unlikely to switch",
    "gold": "[Cause] the app will become an integral part of their business [Relation] cause [Effect]  the digital retail business offers traces of switching costs",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "The steady, stable stream of revenue has allowed Realty Income to be one of only two REITs to be members of the S&P High-Yield Dividend Aristocrats Index and have a credit rating of A- or better.",
    "output": "[Cause] The steady, stable stream of revenue [Relation] enable [Effect] Realty Income to be one of only two REITs to be members of the S&P High-Yield Dividend Aristocrats Index and have a credit rating of A- or better",
    "gold": "[Cause] The steady, stable stream of revenue [Relation] enable [Effect] Realty Income to be one of only two REITs to be members of the S&P High-Yield Dividend Aristocrats Index and have a credit rating of A- or better",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We believe that it is very difficult for profit-maximising banks to compete profitably in an environment where their competition is not pricing products to maximise profits for shareholders, but rather to provide the products at an affordable rate to their members.",
    "output": "[Cause] their competition is not pricing products to maximise profits for shareholders, but rather to provide the products at an affordable rate to their members [Relation] cause [Effect] it is very difficult for profit-maximising banks to compete profitably in an environment",
    "gold": "[Cause] it is very difficult for profit-maximising banks to compete profitably in an environment [Relation] enable [Effect] their competition is not pricing products to maximise profits for shareholders",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Additionally, customers overall are re-upping for more than one solution, as more than 75% of customers are multi-product purchasers, which is driving deal sizes higher.",
    "output": "[Cause] more than 75% of customers are multi-product purchasers [Relation] cause [Effect] customers overall are re-upping for more than one solution",
    "gold": "[Cause] more than 75% of customers are multi-product purchasers [Relation] cause [Effect] driving deal sizes higher",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Additionally, customers overall are re-upping for more than one solution, as more than 75% of customers are multi-product purchasers, which is driving deal sizes higher.",
    "output": "[Cause] more than 75% of customers are multi-product purchasers [Relation] cause [Effect] customers overall are re-upping for more than one solution",
    "gold": "[Cause] customers overall are re-upping for more than one solution [Relation] enable [Effect] driving deal sizes higher",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "So while we think Illumina's advantages are likely to lead to economic profitability for at least the next 10 years, we remain uncertain that those advantages will extend for the next 20 years, given the ongoing disruptive technology risk in this field.",
    "output": "[Cause] the ongoing disruptive technology risk in this field [Relation] cause [Effect] we remain uncertain that those advantages will extend for the next 20 years",
    "gold": "[Cause]  Illumina's advantages [Relation] enable [Effect] economic profitability for at least the next 10 years",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We expect soaps and sanitizers to enjoy solid demand through the first half of 2021, supporting our bump in intrinsic value.",
    "output": "[Cause] soaps and sanitizers to enjoy solid demand through the first half of 2021 [Relation] enable [Effect] supporting our bump in intrinsic value",
    "gold": "[Cause] soaps and sanitizers to enjoy solid demand through the first half of 2021 [Relation] enable [Effect] supporting our bump in intrinsic value",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The growth in the PC market allowed Intel to invest heavily in R&amp;D to fuel continued progress in the x86 architecture and software developer network.",
    "output": "[Cause] The growth in the PC market [Relation] enable [Effect] Intel to invest heavily in R&amp;D to fuel continued progress in the x86 architecture and software developer network",
    "gold": "[Cause] The growth in the PC market [Relation] enable [Effect] Intel to invest heavily in R&amp;D to fuel continued progress in the x86 architecture and software developer network",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In terms of ESG-related risks, we note that because UP carries a meaningful amount of freight for chemical end-market shippers, it is subject to the liabilities associated with hazardous material spills.",
    "output": "[Cause] UP carries a meaningful amount of freight for chemical end-market shippers [Relation] cause [Effect] it is subject to the liabilities associated with hazardous material spills",
    "gold": "[Cause] UP carries a meaningful amount of freight for chemical end-market shippers [Relation] cause [Effect] it is subject to the liabilities associated with hazardous material spills",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We expect potash prices to increase over the long term as demand rebounds and grows in line with production from new greenfield mines.",
    "output": "[Cause] demand rebounds and grows in line with production from new greenfield mines [Relation] cause [Effect] potash prices to increase over the long term",
    "gold": "[Cause] demand rebounds and grows in line with production from new greenfield mines [Relation] cause [Effect] potash prices to increase over the long term",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We project $1 billion in dispositions per year over the next three years as the company looks to sell near the top of the market while acquiring a similar amount each year as the company looks to recycle lower-quality assets to fund the acquisition of higher-quality assets.",
    "output": "[Cause] the company looks to recycle lower-quality assets to fund the acquisition of higher-quality assets [Relation] cause [Effect] acquiring a similar amount each year",
    "gold": "[Cause] the company looks to recycle lower-quality assets to fund the acquisition of higher-quality assets [Relation] cause [Effect] acquiring a similar amount each year",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "As the government also controls its two competitors, China Unicom and China Telecom, it wants a more even distribution of customers.",
    "output": "[Cause] the government also controls its two competitors, China Unicom and China Telecom [Relation] cause [Effect] it wants a more even distribution of customers",
    "gold": "[Cause] the government also controls its two competitors, China Unicom and China Telecom [Relation] cause [Effect] it wants a more even distribution of customers",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Still, such risks, in our view, would only gradually chip away at Intuit's accounting and tax dominance, given the force of its network effect and its financial health equipping Intuit with the ability to turn the tides.",
    "output": "[Cause] the force of its network effect and its financial health equipping Intuit with the ability to turn the tides [Relation] cause [Effect] such risks, in our view, would only gradually chip away at Intuit's accounting and tax dominance",
    "gold": "[Cause] such risks [Relation] cause [Effect] gradually chip away at Intuit's accounting and tax dominance",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Still, such risks, in our view, would only gradually chip away at Intuit's accounting and tax dominance, given the force of its network effect and its financial health equipping Intuit with the ability to turn the tides.",
    "output": "[Cause] its financial health equipping Intuit with the ability to turn the tides [Relation] cause [Effect] such risks, in our view, would only gradually chip away at Intuit's accounting and tax dominance",
    "gold": "[Cause] the force of its network effect and its financial health equipping Intuit [Relation] cause [Effect] Intuit with the ability to turn the tides",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Aquatic systems, roughly 33% of 2019 revenue, is the crown jewel in Pentair's portfolio, as it is both the fastest-growing and most profitable segment.",
    "output": "[Cause] it is both the fastest-growing and most profitable segment [Relation] cause [Effect] Aquatic systems, roughly 33% of 2019 revenue, is the crown jewel in Pentair's portfolio",
    "gold": "[Cause] Aquatic systems, roughly 33% of 2019 revenue, is the crown jewel in Pentair's portfolio [Relation] cause [Effect]  it is both the fastest-growing and most profitable segment",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Though we also see switching costs with these products as they benefit from similar dynamics as the prescription business, switching costs in this sub-segment are probably a bit weaker considering the lower barrier to regulatory approval for OTC products.",
    "output": "[Cause] they benefit from similar dynamics as the prescription business [Relation] cause [Effect] switching costs with these products",
    "gold": "[Cause] lower barrier to regulatory approval for OTC products [Relation] cause [Effect] switching costs in this sub-segment are probably a bit weaker",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Though we also see switching costs with these products as they benefit from similar dynamics as the prescription business, switching costs in this sub-segment are probably a bit weaker considering the lower barrier to regulatory approval for OTC products.",
    "output": "[Cause] the lower barrier to regulatory approval for OTC products [Relation] cause [Effect] switching costs in this sub-segment are probably a bit weaker",
    "gold": "[Cause] similar dynamics as the prescription business [Relation] enable [Effect]  switching costs with these products",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "However, deals could prove less beneficial if the firm is forced to pay an excessive premium or stumbles in the integration, particularly if it opts to venture further beyond its core soup niche.",
    "output": "[Cause] the firm is forced to pay an excessive premium or stumbles in the integration [Relation] cause [Effect] deals could prove less beneficial",
    "gold": "[Cause] the firm is forced to pay an excessive premium or stumbles in the integration [Relation] cause [Effect] deals could prove less beneficial",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "However, deals could prove less beneficial if the firm is forced to pay an excessive premium or stumbles in the integration, particularly if it opts to venture further beyond its core soup niche.",
    "output": "[Cause] it opts to venture further beyond its core soup niche [Relation] cause [Effect] deals could prove less beneficial",
    "gold": "[Cause] it opts to venture further beyond its core soup niche [Relation] cause [Effect] deals could prove less beneficial",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "For example, the industrial precision solutions segment manufactures products and systems that are components of a production line and thus tightly integrated into a customer's manufacturing process.",
    "output": "[Cause] the industrial precision solutions segment manufactures products and systems that are components of a production line [Relation] cause [Effect] tightly integrated into a customer's manufacturing process",
    "gold": "[Cause]  tightly integrated into a customer's manufacturing process [Relation] cause [Effect]  the industrial precision solutions segment manufactures products and systems that are components of a production line",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Still, the spread of the COVID-19 represented a material headwind to travel demand in 2020, and we estimate Airbnb's revenue to decline 30% this year.",
    "output": "[Cause] the spread of the COVID-19 [Relation] prevent [Effect] travel demand in 2020",
    "gold": "[Cause] the spread of the COVID-19 represented a material headwind to travel demand in 2020 [Relation] cause [Effect] Airbnb's revenue to decline 30% this year",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "In addition, as viewership continues to fragment, the economics of large-scale franchises may not be as attractive as they've been in the past, limiting the value of Comcast's ability to monetize content through multiple channels.",
    "output": "[Cause] viewership continues to fragment [Relation] cause [Effect] the economics of large-scale franchises may not be as attractive as they've been in the past, limiting the value of Comcast's ability to monetize content through multiple channels",
    "gold": "[Cause] In addition, as viewership continues to fragment, the economics of large-scale franchises may not be as attractive as they've been in the past, [Relation] cause [Effect] limiting the value of Comcast's ability to monetize content through multiple channels.",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "The $2 billion in cumulative cost savings should help PMI reach the target of 150 basis points in EBIT margin expansion per year for the next three years, with $450 million left over for investment behind growth.",
    "output": "[Cause] The $2 billion in cumulative cost savings [Relation] enable [Effect] PMI reach the target of 150 basis points in EBIT margin expansion per year for the next three years, with $450 million left over for investment behind growth",
    "gold": "[Cause] The $2 billion in cumulative cost savings [Relation] cause [Effect] help PMI reach the target of 150 basis points in EBIT margin expansion per year for the next three years",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Vertex commands strong pricing power because cystic fibrosis is a rare, chronic condition and there are no alternative disease-modifying treatment options currently on the market.",
    "output": "[Cause] cystic fibrosis is a rare, chronic condition and there are no alternative disease-modifying treatment options currently on the market [Relation] cause [Effect] Vertex commands strong pricing power",
    "gold": "[Cause] cystic fibrosis is a rare, chronic condition and there are no alternative disease-modifying treatment options currently on the market [Relation] cause [Effect] Vertex commands strong pricing power",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "BioMarin could struggle to bring new PKU patients onto Palynziq therapy, making the entrance of generic versions of older PKU drug Kuvan in 2020 a bigger hit.",
    "output": "[Cause] BioMarin could struggle to bring new PKU patients onto Palynziq therapy [Relation] cause [Effect] the entrance of generic versions of older PKU drug Kuvan in 2020 a bigger hit",
    "gold": "[Cause] BioMarin could struggle to bring new PKU patients onto Palynziq therapy [Relation] cause [Effect]  the entrance of generic versions of older PKU drug Kuvan in 2020 a bigger hit",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We assign Novo Nordisk a medium uncertainty rating, as the firm has a broad global insulin business, but price pressure and growing reliance on the high-growth GLP-1 class add some volatility to potential cash flows.",
    "output": "[Cause] the firm has a broad global insulin business [Relation] cause [Effect] We assign Novo Nordisk a medium uncertainty rating",
    "gold": "[Cause] price pressure and growing reliance on the high-growth GLP-1 class add some volatility to potential cash flows [Relation] prevent [Effect] assign Novo Nordisk a medium uncertainty rating",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Service bundling coupled with high-quality mobile and fixed networks allow for competitive differentiation in the higher-value market segments, where the customer base is more loyal and average revenue per offer, or ARPU, is more stable.",
    "output": "[Cause] Service bundling coupled with high-quality mobile and fixed networks [Relation] enable [Effect] competitive differentiation in the higher-value market segments",
    "gold": "[Cause] Service bundling coupled with high-quality mobile and fixed networks [Relation] enable [Effect] competitive differentiation in the higher-value market segments",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Service bundling coupled with high-quality mobile and fixed networks allow for competitive differentiation in the higher-value market segments, where the customer base is more loyal and average revenue per offer, or ARPU, is more stable.",
    "output": "[Cause] Service bundling coupled with high-quality mobile and fixed networks [Relation] enable [Effect] competitive differentiation in the higher-value market segments",
    "gold": "[Cause] higher-value market segments [Relation] cause [Effect] the customer base is more loyal and average revenue per offer, or ARPU, is more stable",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Excluding pandemic-related production disruption in 2020, we expect gross margins to improve by about 35 basis points annually over the long term, driven by improved product mix and supply chain cost savings.",
    "output": "[Cause] improved product mix and supply chain cost savings [Relation] cause [Effect] gross margins to improve by about 35 basis points annually over the long term",
    "gold": "[Cause] improved product mix and supply chain cost savings [Relation] enable [Effect] gross margins to improve by about 35 basis points annually over the long term",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Until now, Viper had not hedged, but we anticipate Viper will increase its payout to closer to 100% of distributable earnings from the current 50% once the markets recover.",
    "output": "[Cause] the markets recover [Relation] enable [Effect] Viper will increase its payout to closer to 100% of distributable earnings from the current 50%",
    "gold": "[Cause] the markets recover [Relation] enable [Effect] Viper will increase its payout to closer to 100% of distributable earnings from the current 50%",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In addition, growth in new users, user engagement, and time spent on Snap's Snapchat may be constrained in the long run given the 24-hour limit on time spent on various mobile device apps per day.",
    "output": "[Cause] the 24-hour limit on time spent on various mobile device apps per day [Relation] cause [Effect] growth in new users, user engagement, and time spent on Snap's Snapchat may be constrained in the long run",
    "gold": "[Cause] the 24-hour limit on time spent on various mobile device apps per day [Relation] cause [Effect] growth in new users, user engagement, and time spent on Snap's Snapchat may be constrained in the long run",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We believe Wells' ability for higher investment in 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] Wells' ability for higher investment in tech platforms that can scale, as well as its access to customer data on millions of households [Relation] enable [Effect] bolster the bank's advantages over the longer run",
    "gold": "[Cause] Wells' ability for higher investment in tech platforms that can scale, as well as its access to customer data on millions of households [Relation] enable [Effect]  bolster the bank's advantages over the longer run",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We expect ROIC of 7% in the current year as the company incurs many costs for restructuring and internal improvements.",
    "output": "[Cause] the company incurs many costs for restructuring and internal improvements [Relation] cause [Effect] ROIC of 7% in the current year",
    "gold": "[Cause] the company incurs many costs for restructuring and internal improvements [Relation] cause [Effect] ROIC of 7% in the current year",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Although the company's international presence provides new growth opportunities, diversifies revenues, and dampens cyclicality, it also exposes the company to foreign currency, economic, operational, and political risks.",
    "output": "[Cause] the company's international presence [Relation] cause [Effect] new growth opportunities, diversifies revenues, and dampens cyclicality",
    "gold": "[Cause] Although the company's international presence provides new growth opportunities, diversifies revenues, and dampens cyclicality [Relation] enable [Effect] it also exposes the company to foreign currency, economic, operational, and political risks.",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Management acknowledges that the international businesses have opportunities for cost improvements, as the numerous acquisitions over the years have never been fully integrated but remain decentralized.",
    "output": "[Cause] the numerous acquisitions over the years have never been fully integrated but remain decentralized [Relation] cause [Effect] the international businesses have opportunities for cost improvements",
    "gold": "[Cause] the numerous acquisitions over the years have never been fully integrated but remain decentralized [Relation] cause [Effect] the international businesses have opportunities for cost improvements",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We expect operating margins to expand significantly over our 10-year explicit forecast, due in part to near-term synergies attained from a positive Cylance integration.",
    "output": "[Cause] near-term synergies attained from a positive Cylance integration [Relation] cause [Effect] operating margins to expand significantly over our 10-year explicit forecast",
    "gold": "[Cause] near-term synergies attained from a positive Cylance integration [Relation] cause [Effect]  operating margins to expand significantly over our 10-year explicit forecast",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Average revenue per user (ARPU) has also grown as customers adopt new modules and the firm grows market share, up 50% since fiscal 2015.",
    "output": "[Cause] customers adopt new modules and the firm grows market share [Relation] cause [Effect] Average revenue per user (ARPU) has also grown",
    "gold": "[Cause] customers adopt new modules and the firm grows market share [Relation] cause [Effect] Average revenue per user (ARPU) has also grown",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "While Park has done a good job in 2018 in containing costs, the lack of rate growth has led to lackluster margin growth and thus low NOI growth.",
    "output": "[Cause] lackluster margin growth [Relation] cause [Effect] low NOI growth",
    "gold": "[Cause]  the lack of rate growth [Relation] cause [Effect] lackluster margin growth and thus low NOI growth",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "The threat landscape is becoming more complex, with the vectors of potential attack increasing as data access and movement proliferates.",
    "output": "[Cause] data access and movement proliferates [Relation] cause [Effect] the vectors of potential attack increasing",
    "gold": "[Cause] data access and movement proliferates [Relation] cause [Effect] the vectors of potential attack increasing",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Macy's does not need its vast selling space, as department stores have been losing market share to e-commerce and other retailers (outlets, branded stores, specialty stores, discounters) for years, and we think the virus may cause this trend to accelerate.",
    "output": "[Cause] department stores have been losing market share to e-commerce and other retailers (outlets, branded stores, specialty stores, discounters) for years [Relation] cause [Effect] Macy's does not need its vast selling space",
    "gold": "[Cause] department stores have been losing market share to e-commerce and other retailers (outlets, branded stores, specialty stores, discounters) for years [Relation] cause [Effect] we think the virus may cause this trend to accelerate",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Macy's does not need its vast selling space, as department stores have been losing market share to e-commerce and other retailers (outlets, branded stores, specialty stores, discounters) for years, and we think the virus may cause this trend to accelerate.",
    "output": "[Cause] department stores have been losing market share to e-commerce and other retailers (outlets, branded stores, specialty stores, discounters) for years [Relation] cause [Effect] Macy's does not need its vast selling space",
    "gold": "[Cause] department stores have been losing market share to e-commerce and other retailers (outlets, branded stores, specialty stores, discounters) for years [Relation] cause [Effect] Macy's does not need its vast selling space",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We believe its small size and pressure on existing business will limit how much extra capital Rakuten could put into the telecom business to increase its impact on the market.",
    "output": "[Cause] its small size and pressure on existing business [Relation] prevent [Effect] how much extra capital Rakuten could put into the telecom business to increase its impact on the market",
    "gold": "[Cause] its small size and pressure on existing business [Relation] prevent [Effect] how much extra capital Rakuten could put into the telecom business to increase its impact on the market",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "This also serves a second function--as Twilio rolls out more use-case-specific solutions and increases enterprise penetration, its proportion of revenue coming from these products will increase, reducing the firm's reliance on offerings such as messaging, which comes with the burden of significant network carrier costs that weigh on margins.",
    "output": "[Cause] its proportion of revenue coming from these products will increase [Relation] cause [Effect] reducing the firm's reliance on offerings such as messaging",
    "gold": "[Cause]  comes with the burden of significant network carrier costs [Relation] prevent [Effect] weigh on margins",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "ServiceNow will continue to use its position to land new IT-driven customers and upsell ITOM features on the platform, but we believe the company will increasingly cross-sell emerging products in HR and customer service, along with the platform as a service (PaaS) offering.",
    "output": "[Cause] the company will increasingly cross-sell emerging products in HR and customer service, along with the platform as a service (PaaS) offering [Relation] enable [Effect] Land new IT-driven customers and upsell ITOM features on the platform",
    "gold": "[Cause] the platform as a service (PaaS) offering [Relation] cause [Effect] we believe the company will increasingly cross-sell emerging products in HR and customer service",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Governments and global defense departments are often the only buyer and, due to the highly confidential and sensitive nature of national security, requires a strict screening and approval process.",
    "output": "[Cause] the highly confidential and sensitive nature of national security [Relation] cause [Effect] requires a strict screening and approval process",
    "gold": "[Cause]  the highly confidential and sensitive nature of national security [Relation] cause [Effect] Governments and global defense departments are often the only buyer and",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Beyond this, the firm has over 100 million loyalty members, providing an immediate demand channel for third-party hotel owners joining its brand.",
    "output": "[Cause] the firm has over 100 million loyalty members [Relation] enable [Effect] providing an immediate demand channel for third-party hotel owners joining its brand",
    "gold": "[Cause] the firm has over 100 million loyalty members [Relation] cause [Effect] providing an immediate demand channel for third-party hotel owners joining its brand",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In our view, Dell Technologies has substantial cross-selling and upselling opportunities as well as collaborative development efforts that will lower operating expenses as a percentage of revenue.",
    "output": "[Cause] Dell Technologies has substantial cross-selling and upselling opportunities as well as collaborative development efforts [Relation] cause [Effect] lower operating expenses as a percentage of revenue",
    "gold": "[Cause] Dell Technologies has substantial cross-selling and upselling opportunities as well as collaborative development efforts [Relation] enable [Effect] lower operating expenses as a percentage of revenue",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Telus has made a considerable investment over the last several years to improve its wireline network with its fiber-to-the-premises buildout.",
    "output": "[Cause] Telus has made a considerable investment over the last several years [Relation] enable [Effect] improve its wireline network with its fiber-to-the-premises buildout",
    "gold": "[Cause] Telus has made a considerable investment over the last several years [Relation] cause [Effect]  improve its wireline network with its fiber-to-the-premises buildout",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "With 2021-22 could be plagued by competitive pricing as Carnival and the other cruise operators try to entice cruisers to sail again, we don't see Carnival reaching 2019 pricing again until 2024.",
    "output": "[Cause] Carnival and the other cruise operators try to entice cruisers to sail again [Relation] cause [Effect] With 2021-22 could be plagued by competitive pricing",
    "gold": "[Cause] With 2021-22 could be plagued by competitive pricing [Relation] cause [Effect] Carnival and the other cruise operators try to entice cruisers to sail again",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "The COVID-19 outbreak resulted in the temporary closure of many VF-owned stores and those of retail partners, depressing sales in fiscal 2020 and likely resulting in a double-digit sales decline in fiscal 2021.",
    "output": "[Cause] The COVID-19 outbreak [Relation] cause [Effect] the temporary closure of many VF-owned stores and those of retail partners",
    "gold": "[Cause] The COVID-19 outbreak [Relation] cause [Effect] the temporary closure of many VF-owned stores and those of retail partners",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The COVID-19 outbreak resulted in the temporary closure of many VF-owned stores and those of retail partners, depressing sales in fiscal 2020 and likely resulting in a double-digit sales decline in fiscal 2021.",
    "output": "[Cause] The COVID-19 outbreak [Relation] cause [Effect] depressing sales in fiscal 2020",
    "gold": "[Cause] the temporary closure of many VF-owned stores and those of retail partners [Relation] prevent [Effect] sales in fiscal 2020 and likely resulting in a double-digit sales decline in fiscal 2021",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Hubbell's PCORE bushings can save electric utilities thousands of dollars in field service because their quick-link design allows the transformer to be shipped with the bushing connection in place.",
    "output": "[Cause] their quick-link design allows the transformer to be shipped with the bushing connection in place [Relation] cause [Effect] Hubbell's PCORE bushings can save electric utilities thousands of dollars in field service",
    "gold": "[Cause] their quick-link design allows the transformer to be shipped with the bushing connection in place [Relation] cause [Effect] Hubbell's PCORE bushings can save electric utilities thousands of dollars in field service",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "This large live entertainment footprint helped Live Nation become one of the largest advertising and sponsorship platforms targeted at music fans.",
    "output": "[Cause] This large live entertainment footprint [Relation] enable [Effect] Live Nation become one of the largest advertising and sponsorship platforms targeted at music fans",
    "gold": "[Cause] This large live entertainment footprint [Relation] enable [Effect] Live Nation become one of the largest advertising and sponsorship platforms targeted at music fans",
    "valid": true,
    "tag": "em"
  },
  {
    "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 during a market downturn.",
    "output": "[Cause] its broad array of end markets [Relation] enable [Effect] it to grow the top line even during a market downturn",
    "gold": "[Cause]  its broad array of end markets [Relation] enable [Effect]  it to grow the top line even during a market downturn",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We like this strategy and believe that Check Point makes itself stickier within enterprise networks, which elevates risks associated with deploying alternative vendors.",
    "output": "[Cause] Check Point makes itself stickier within enterprise networks [Relation] cause [Effect] elevates risks associated with deploying alternative vendors",
    "gold": "[Cause]  Check Point makes itself stickier within enterprise networks [Relation] cause [Effect]  elevates risks associated with deploying alternative vendors",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Further, the company's broad-based approach to competing with resourceful peers has resulted in lackluster growth, which has led to margin erosion.",
    "output": "[Cause] lackluster growth [Relation] cause [Effect] margin erosion",
    "gold": "[Cause] the company's broad-based approach to competing with resourceful peers [Relation] cause [Effect] lackluster growth",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Further, the company's broad-based approach to competing with resourceful peers has resulted in lackluster growth, which has led to margin erosion.",
    "output": "[Cause] lackluster growth [Relation] cause [Effect] margin erosion",
    "gold": "[Cause] lackluster growth [Relation] cause [Effect]  margin erosion",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In several of the categories in which it plays, Clorox's primary competition is private-label fare, so product innovation and subsequent marketing support is essential to ensure differentiation from these lower-priced offerings.",
    "output": "[Cause] Clorox's primary competition is private-label fare [Relation] cause [Effect] product innovation and subsequent marketing support is essential to ensure differentiation from these lower-priced offerings",
    "gold": "[Cause] Clorox's primary competition is private-label fare [Relation] cause [Effect] product innovation and subsequent marketing support is essential to ensure differentiation from these lower-priced offerings",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Given its German roots, around half of sales are generated in Europe, but investment is largely focused on higher-growth emerging markets, particularly China.",
    "output": "[Cause] its German roots [Relation] cause [Effect] around half of sales are generated in Europe",
    "gold": "[Cause] its German roots [Relation] cause [Effect] around half of sales are generated in Europe",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Additionally, there's some risk that a rising incidence of \"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"nuclear verdicts\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\" (for fatal crashes) against truckers pushes claims related outflows materially higher and drives persistent insurance-cost inflation.",
    "output": "[Cause] a rising incidence of \"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"",
    "gold": "[Cause] a rising incidence of \"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"nuclear verdicts\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\" (for fatal crashes) against truckers [Relation] enable [Effect] claims related outflows materially higher and drives persistent insurance-cost inflation",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "As data use grows and networks get more stretched, locating equipment on more towers and upgrading equipment are primary solutions for carriers.",
    "output": "[Cause] data use grows and networks get more stretched [Relation] cause [Effect] locating equipment on more towers and upgrading equipment are primary solutions for carriers",
    "gold": "[Cause]  data use grows and networks get more stretched [Relation] enable [Effect] locating equipment on more towers and upgrading equipment are primary solutions for carriers",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We expect the Americas business to post mid-to-high single-digit growth after the coronavirus-fueled downturn in 2020 as the segment capitalizes on increased retrofit and upgrade spending across commercial and residential end markets that is drive by the convergence of electronics and mechanical security solutions, improving U.S.\",positiv",
    "output": "[Cause] the segment capitalizes on increased retrofit and upgrade spending across commercial and residential end markets that is drive by the convergence of electronics and mechanical security solutions, improving U.S. [Relation] cause [Effect] the Americas business to post mid-to-high single-digit growth after the coronavirus-fueled downturn in 2020",
    "gold": "[Cause] the segment capitalizes on increased retrofit and upgrade spending across commercial and residential end markets that is drive by the convergence of electronics and mechanical security solutions [Relation] enable [Effect] the Americas business to post mid-to-high single-digit growth | improving U.S.\",positiv",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Regulation could place requirements (such as sharing personal information with local governments) and restrictions (such as the number days a listing can be rented out) on hosts and guests that reduces demand and elevates cost.",
    "output": "[Cause] Regulation could place requirements (such as sharing personal information with local governments) and restrictions (such as the number days a listing can be rented out) on hosts and guests [Relation] cause [Effect] reduces demand and elevates cost",
    "gold": "[Cause] Regulation could place requirements (such as sharing personal information with local governments) and restrictions (such as the number days a listing can be rented out) on hosts and guests [Relation] enable [Effect] reduces demand and elevates cost",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We are increasing our fair value estimate to $74 from $69 to reflect our stronger near-term revenue and margin expectations. This estimate is principally based on our assumptions of operating margin growth over the next five years, which we now expect to increase to over 7% in 2024 from about 6% in 2019.",
    "output": "[Cause] increasing our fair value estimate to $74 from $69 to reflect our stronger near-term revenue and margin expectations [Relation] cause [Effect] based on our assumptions of operating margin growth over the next five years, which we now expect to increase to over 7% in 2024 from about 6% in 2019",
    "gold": "[Cause] our assumptions of operating margin growth over the next five years, which we now expect to increase to over 7% in 2024 from about 6% in 2019 [Relation] cause [Effect] We are increasing our fair value estimate to $74 from $69 to reflect our stronger near-term revenue and margin expectations",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "From a demand perspective, there are a host of opportunities for memory (DRAM) and storage (NAND) that go beyond core PC and mobile markets, including automotive, the data center (cloud), artificial intelligence applications, and embedded (Internet of Things), which may reduce the cyclicality faced by Micron and its peers.",
    "output": "[Cause] a host of opportunities for memory (DRAM) and storage (NAND) that go beyond core PC and mobile markets, including automotive, the data center (cloud), artificial intelligence applications, and embedded (Internet of Things) [Relation] cause [Effect] reduce the cyclicality faced by Micron and its peers",
    "gold": "[Cause] there are a host of opportunities for memory (DRAM) and storage (NAND) that go beyond core PC and mobile markets [Relation] cause [Effect]  reduce the cyclicality faced by Micron and its peers",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Toll Brothers went from earning $4.78 per diluted share in fiscal 2005 to losing $4.68 per diluted share in fiscal 2009, as the collapsing housing market resulted in drastic margin compression and large impairment charges.",
    "output": "[Cause] the collapsing housing market [Relation] cause [Effect] drastic margin compression and large impairment charges",
    "gold": "[Cause] the collapsing housing market [Relation] cause [Effect] drastic margin compression and large impairment charges",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Toll Brothers went from earning $4.78 per diluted share in fiscal 2005 to losing $4.68 per diluted share in fiscal 2009, as the collapsing housing market resulted in drastic margin compression and large impairment charges.",
    "output": "[Cause] the collapsing housing market [Relation] cause [Effect] drastic margin compression and large impairment charges",
    "gold": "[Cause] drastic margin compression and large impairment charges [Relation] cause [Effect] Toll Brothers went from earning $4.78 per diluted share in fiscal 2005 to losing $4.68 per diluted share in fiscal 2009",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We expect adjusted EBITDA margins to reach 30% over the next several years from a mix shift as the company sells a greater proportion of its higher-margin products.",
    "output": "[Cause] the company sells a greater proportion of its higher-margin products [Relation] cause [Effect] adjusted EBITDA margins to reach 30% over the next several years from a mix shift",
    "gold": "[Cause] the company sells a greater proportion of its higher-margin products [Relation] cause [Effect] adjusted EBITDA margins to reach 30% over the next several years from a mix shift",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The company also has a strong global salesforce that can attract smaller drug firms to partner with Bayer for commercialization efforts, which augment Bayer's internal drug-development efforts.",
    "output": "[Cause] The company also has a strong global salesforce [Relation] enable [Effect] attract smaller drug firms to partner with Bayer for commercialization efforts",
    "gold": "[Cause] The company also has a strong global salesforce [Relation] cause [Effect] attract smaller drug firms to partner with Bayer for commercialization efforts",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The company also has a strong global salesforce that can attract smaller drug firms to partner with Bayer for commercialization efforts, which augment Bayer's internal drug-development efforts.",
    "output": "[Cause] The company also has a strong global salesforce [Relation] enable [Effect] attract smaller drug firms to partner with Bayer for commercialization efforts",
    "gold": "[Cause] The company also has a strong global salesforce that can attract smaller drug firms to partner with Bayer for commercialization efforts [Relation] cause [Effect] augment Bayer's internal drug-development efforts",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "The company invests in metropolitan markets with solid demographic trends that allow the company to maintain high occupancies and pass along consistent rent increases.",
    "output": "[Cause] The company invests in metropolitan markets with solid demographic trends [Relation] enable [Effect] the company to maintain high occupancies and pass along consistent rent increases",
    "gold": "[Cause] The company invests in metropolitan markets with solid demographic trends [Relation] cause [Effect] the company to maintain high occupancies and pass along consistent rent increases",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Existing customers benefit from new customers as Coupa's AI has more data to iterate on and identify more spend optimization opportunities, and new customers benefit from existing customers as their data has improved Coupa's prescriptive capabilities.",
    "output": "[Cause] Coupa's AI has more data to iterate on and identify more spend optimization opportunities [Relation] cause [Effect] Existing customers benefit from new customers",
    "gold": "[Cause] Coupa's AI has more data to iterate on and identify more spend optimization opportunities [Relation] cause [Effect] Existing customers benefit from new customers",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Existing customers benefit from new customers as Coupa's AI has more data to iterate on and identify more spend optimization opportunities, and new customers benefit from existing customers as their data has improved Coupa's prescriptive capabilities.",
    "output": "[Cause] their data has improved Coupa's prescriptive capabilities [Relation] cause [Effect] new customers benefit from existing customers",
    "gold": "[Cause]  their data has improved Coupa's prescriptive capabilities [Relation] cause [Effect] new customers benefit from existing customers",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Cummins has exposure to emissions regulation, but we think the company is investing to position itself to win in a zero-emission world. These hedges include the development of next generation products that reduce the emissions of its diesel products to electric motors and powertrains.",
    "output": "[Cause] Cummins has exposure to emissions regulation, but we think the company is investing to position itself to win in a zero-emission world [Relation] cause [Effect] development of next generation products that reduce the emissions of its diesel products to electric motors and powertrains",
    "gold": "[Cause]  the development of next generation products that reduce the emissions of its diesel products to electric motors and powertrains [Relation] enable [Effect] Cummins has exposure to emissions regulation, but we think the company is investing to position itself to win in a zero-emission world",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Much as the firm did with its Aladdin enterprise investment system, BlackRock identified an opportunity to use technology to enhance the investor experience and lead to a greater use of its exchange-traded funds and other product offerings.",
    "output": "[Cause] BlackRock identified an opportunity to use technology [Relation] enable [Effect] enhance the investor experience",
    "gold": "[Cause] BlackRock identified an opportunity to use technology to enhance the investor experience [Relation] cause [Effect] a greater use of its exchange-traded funds and other product offerings",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Much as the firm did with its Aladdin enterprise investment system, BlackRock identified an opportunity to use technology to enhance the investor experience and lead to a greater use of its exchange-traded funds and other product offerings.",
    "output": "[Cause] BlackRock identified an opportunity to use technology [Relation] enable [Effect] a greater use of its exchange-traded funds and other product offerings",
    "gold": "[Cause] BlackRock identified an opportunity to use technology [Relation] cause [Effect] a greater use of its exchange-traded funds and other product offerings",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The modular construction of the boats allows the company to increase offerings without adding substantial cost to production, while the patents on the high-tech, high-margin innovations prevent imitation (and the firm has fervently protected its intellectual property in the past).",
    "output": "[Cause] The modular construction of the boats [Relation] enable [Effect] the company to increase offerings without adding substantial cost to production",
    "gold": "[Cause] The modular construction of the boats [Relation] enable [Effect] the company to increase offerings without adding substantial cost to production",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "While Under Armour's innovative apparel and technology initially drove significant growth, we believe a lack of barriers to entry and insufficient brand spend impaired its competitive position, and we don't expect these pressures will subside.",
    "output": "[Cause] a lack of barriers to entry and insufficient brand spend [Relation] prevent [Effect] its competitive position",
    "gold": "[Cause]  lack of barriers to entry and insufficient brand spend impaired its competitive position, [Relation] cause [Effect] we don't expect these pressures will subside",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "There are large up-front costs to develop software systems and processes to service such a large amount of assets.",
    "output": "[Cause] large up-front costs [Relation] enable [Effect] service such a large amount of assets",
    "gold": "[Cause] develop software systems and processes to service such a large amount of assets [Relation] cause [Effect] large up-front costs",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Following fourth-quarter results, we are raising our margin forecasts to give Norfolk Southern more credit for solid PSR-related execution given better-than-expected network efficiency advancements in 2020.",
    "output": "[Cause] better-than-expected network efficiency advancements in 2020 [Relation] cause [Effect] we are raising our margin forecasts to give Norfolk Southern more credit for solid PSR-related execution",
    "gold": "[Cause] we are raising our margin forecasts [Relation] enable [Effect]  give Norfolk Southern more credit for solid PSR-related execution given better-than-expected network efficiency advancements in 2020.",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "However, we expect the firm to spend more aggressively in wireless infrastructure after a period of underinvestment, so we think much of the cable savings will be directed toward wireless capital spending.",
    "output": "[Cause] the firm to spend more aggressively in wireless infrastructure after a period of underinvestment [Relation] cause [Effect] much of the cable savings will be directed toward wireless capital spending",
    "gold": "[Cause]  the firm to spend more aggressively in wireless infrastructure after a period of underinvestment [Relation] cause [Effect] much of the cable savings will be directed toward wireless capital spending",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Overall, chip design would be virtually impossible without EDA tools--this makes tools that companies like Cadence provide critical to customers.",
    "output": "[Cause] chip design would be virtually impossible without EDA tools [Relation] cause [Effect] tools that companies like Cadence provide critical to customers",
    "gold": "[Cause] chip design would be virtually impossible without EDA tools [Relation] enable [Effect] tools that companies like Cadence provide critical to customers",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We expect net interest income to grow at a 7% annual rate due to the buildup of the Marcus platform and an eventual recovery in interest rates.",
    "output": "[Cause] the buildup of the Marcus platform and an eventual recovery in interest rates [Relation] cause [Effect] net interest income to grow at a 7% annual rate",
    "gold": "[Cause] the buildup of the Marcus platform and an eventual recovery in interest rates [Relation] enable [Effect] net interest income to grow at a 7% annual rate",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Operating margin improved to 7.6% in 2017, 9.3% in 2018, and 9.7% in 2019, and we project that the margin will rebound to the 2015 level by 2024 and exceed it in 2025 as the firm benefits from higher margin streaming revenue and improved profitability at Canal+.",
    "output": "[Cause] the firm benefits from higher margin streaming revenue and improved profitability at Canal+ [Relation] cause [Effect] the margin will rebound to the 2015 level by 2024 and exceed it in 2025",
    "gold": "[Cause] the firm benefits from higher margin streaming revenue and improved profitability at Canal+ [Relation] cause [Effect] the margin will rebound to the 2015 level by 2024 and exceed it in 2025",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Cash flows could also be heavily affected by geopolitical instability, particularly given Ingredion's market leadership in Pakistan, as well as its exposure to Korea and various South American economies.",
    "output": "[Cause] geopolitical instability [Relation] cause [Effect] Cash flows could also be heavily affected",
    "gold": "[Cause]  geopolitical instability [Relation] cause [Effect] Cash flows could also be heavily affected",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Even if Scotts increases its online sales presence, it may lose some pricing power as many products in the gardening industry shift away from brick-and-mortar retailers to online platforms, where Scotts will likely face more lower-priced competition.",
    "output": "[Cause] many products in the gardening industry shift away from brick-and-mortar retailers to online platforms [Relation] cause [Effect] it may lose some pricing power",
    "gold": "[Cause] many products in the gardening industry shift away from brick-and-mortar retailers to online platforms [Relation] cause [Effect] Scotts will likely face more lower-priced competition",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Even if Scotts increases its online sales presence, it may lose some pricing power as many products in the gardening industry shift away from brick-and-mortar retailers to online platforms, where Scotts will likely face more lower-priced competition.",
    "output": "[Cause] many products in the gardening industry shift away from brick-and-mortar retailers to online platforms [Relation] cause [Effect] Scotts will likely face more lower-priced competition",
    "gold": "[Cause] Scotts will likely face more lower-priced competition [Relation] cause [Effect]  it may lose some pricing power",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "As such, its scale reinforces a solid value proposition for both shippers and asset-based transportation providers, and duplication by small competitors with fewer resources would be difficult.",
    "output": "[Cause] its scale reinforces a solid value proposition for both shippers and asset-based transportation providers [Relation] cause [Effect] duplication by small competitors with fewer resources would be difficult",
    "gold": "[Cause] its scale reinforces a solid value proposition for both shippers and asset-based transportation providers [Relation] cause [Effect] duplication by small competitors with fewer resources would be difficult",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Its acreage is concentrated in liquid rich acres in the Midland (55%) and Delaware (45%) subregions. As a result, the firm's production mix is more skewed to oil and natural gas liquids than we typically expect from upstream companies (liquids were 83% of 2019 production).",
    "output": "[Cause] Its acreage is concentrated in liquid rich acres in the Midland (55%) and Delaware (45%) subregions [Relation] cause [Effect] the firm's production mix is more skewed to oil and natural gas liquids than we typically expect from upstream companies (liquids were 83% of 2019 production)",
    "gold": "[Cause] Its acreage is concentrated in liquid rich acres in the Midland (55%) and Delaware (45%) subregions [Relation] cause [Effect]  the firm's production mix is more skewed to oil and natural gas liquids than we typically expect from upstream companies (liquids were 83% of 2019 production)",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "To fuel additional brand spending, with the objective of revitalizing organic sales growth, Hormel is extracting excess costs from its supply chain, which we view as prudent.",
    "output": "[Cause] fuel additional brand spending [Relation] enable [Effect] revitalizing organic sales growth",
    "gold": "[Cause] Hormel is extracting excess costs from its supply chain [Relation] enable [Effect] fuel additional brand spending",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "To fuel additional brand spending, with the objective of revitalizing organic sales growth, Hormel is extracting excess costs from its supply chain, which we view as prudent.",
    "output": "[Cause] Hormel is extracting excess costs from its supply chain [Relation] enable [Effect] fuel additional brand spending",
    "gold": "[Cause]  the objective of revitalizing organic sales growth [Relation] enable [Effect] Hormel is extracting excess costs from its supply chain",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "However, Tapestry's first quarter of fiscal 2021 was better than expected as strong sales of Coach in mainland China led to nearly 40% growth in the region and e-commerce partially offset store closures.",
    "output": "[Cause] strong sales of Coach in mainland China led to nearly 40% growth in the region and e-commerce partially offset store closures [Relation] cause [Effect] Tapestry's first quarter of fiscal 2021 was better than expected",
    "gold": "[Cause]  nearly 40% growth in the region and e-commerce partially [Relation] enable [Effect] offset store closures",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "The federal government also controls domestic competition, as Canada's banking system historically developed to favor a few large banks controlling the majority of the domestic market, and this is actively enforced through the handling of chartering by the federal government exclusively.",
    "output": "[Cause] Canada's banking system historically developed to favor a few large banks controlling the majority of the domestic market [Relation] cause [Effect] The federal government also controls domestic competition",
    "gold": "[Cause] Canada's banking system historically developed [Relation] enable [Effect] a few large banks controlling the majority of the domestic market",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Zions has historically had one of the worst efficiency ratios in our bank coverage. This has partially been due to a bloated expense base, but declining interest income in a low-interest-rate environment hasn't help.",
    "output": "[Cause] a bloated expense base, but declining interest income in a low-interest-rate environment hasn't help [Relation] cause [Effect] Zions has historically had one of the worst efficiency ratios in our bank coverage",
    "gold": "[Cause] a bloated expense base, but declining interest income in a low-interest-rate environment hasn't help [Relation] cause [Effect] Zions has historically had one of the worst efficiency ratios in our bank coverage",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We do not believe that this superior profitability comes with higher risks, as BBVA's geographical diversification and its retail and commercial focus mitigate against risk.",
    "output": "[Cause] BBVA's geographical diversification and its retail and commercial focus mitigate against risk [Relation] cause [Effect] We do not believe that this superior profitability comes with higher risks",
    "gold": "[Cause]  BBVA's geographical diversification and its retail and commercial focus mitigate against risk [Relation] cause [Effect] We do not believe that this superior profitability comes with higher risks",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We think Heineken can grow revenue at 4% in the steady state, slightly above our estimate for the industry average, because of its gearing to the premium segments.",
    "output": "[Cause] its gearing to the premium segments [Relation] cause [Effect] Heineken can grow revenue at 4% in the steady state, slightly above our estimate for the industry average",
    "gold": "[Cause]  its gearing to the premium segments [Relation] cause [Effect] Heineken can grow revenue at 4% in the steady state, slightly above our estimate for the industry average",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Newmont should be able to improve performance at mines where Goldcorp has struggled from an execution perspective, helping drive production costs lower.",
    "output": "[Cause] Newmont should be able to improve performance at mines where Goldcorp has struggled from an execution perspective [Relation] enable [Effect] drive production costs lower",
    "gold": "[Cause] Newmont should be able to improve performance at mines where Goldcorp has struggled from an execution perspective [Relation] enable [Effect] drive production costs lower",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The improved economics of deep-water projects--combined with projects nearing completion, high-return conventional reinvestment opportunities, and a large liquefied natural gas portfolio (which does not decline)--mean it can deliver modest production growth at a reduced level of spending.",
    "output": "[Cause] The improved economics of deep-water projects--combined with projects nearing completion, high-return conventional reinvestment opportunities, and a large liquefied natural gas portfolio (which does not decline) [Relation] enable [Effect] deliver modest production growth at a reduced level of spending",
    "gold": "[Cause] The improved economics of deep-water projects--combined with projects nearing completion, high-return conventional reinvestment opportunities, and a large liquefied natural gas portfolio (which does not decline) [Relation] enable [Effect]  deliver modest production growth at a reduced level of spending",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Risks surrounding additonal waves of COVID-19 cases and elongated time until an effective treatment and vaccine are globally available remain, which could delay our forecast recovery in demand.",
    "output": "[Cause] Risks surrounding additonal waves of COVID-19 cases and elongated time until an effective treatment and vaccine are globally available remain [Relation] prevent [Effect] delay our forecast recovery in demand",
    "gold": "[Cause] Risks surrounding additonal waves of COVID-19 cases and elongated time until an effective treatment and vaccine are globally available remain [Relation] cause [Effect] delay our forecast recovery in demand",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "At this time, we do not see a way for airlines to escape cyclicality so our fair value uncertainty is extreme until COVID-19 headwinds lessen.",
    "output": "[Cause] we do not see a way for airlines to escape cyclicality [Relation] cause [Effect] our fair value uncertainty is extreme until COVID-19 headwinds lessen",
    "gold": "[Cause] we do not see a way for airlines to escape cyclicality [Relation] cause [Effect]  our fair value uncertainty is extreme until COVID-19 headwinds lessen",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In the short term, we expect all regions to experience declining occupancy and contraction in rental rates due to a coronavirus-induced slowdown in the office sector.",
    "output": "[Cause] a coronavirus-induced slowdown in the office sector [Relation] cause [Effect] all regions to experience declining occupancy and contraction in rental rates",
    "gold": "[Cause] a coronavirus-induced slowdown in the office sector [Relation] cause [Effect] all regions to experience declining occupancy and contraction in rental rates",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We think this elevated level of capital expenditure is reasonable relative to historicals as Delta has orders to replace much of its fleet and deferred capital expenditures during the pandemic.",
    "output": "[Cause] Delta has orders to replace much of its fleet and deferred capital expenditures during the pandemic [Relation] cause [Effect] elevated level of capital expenditure is reasonable relative to historicals",
    "gold": "[Cause] Delta has orders to replace much of its fleet and deferred capital expenditures during the pandemic [Relation] cause [Effect]  this elevated level of capital expenditure is reasonable",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "While these structural attributes have been big pluses for the firm, we believe BlackRock's (and, hence, CEO Larry Fink's) insistence on one common culture, focused on one common vision, operating on one common platform has also provided the firm with a leg up over its peers.",
    "output": "[Cause] BlackRock's (and, hence, CEO Larry Fink's) insistence on one common culture [Relation] enable [Effect] the firm with a leg up over its peers",
    "gold": "[Cause] these structural attributes [Relation] cause [Effect] big pluses for the firm",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Still, we believe the chains are complementary, as they make Ross a more valued partner to vendors with broad portfolios that target a wide range of customers, even though the merchant teams for the two chains differ.",
    "output": "[Cause] they make Ross a more valued partner to vendors with broad portfolios that target a wide range of customers [Relation] cause [Effect] the chains are complementary",
    "gold": "[Cause] they make Ross a more valued partner to vendors with broad portfolios that target a wide range of customers [Relation] cause [Effect]  the chains are complementary",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Operating costs typically track movements in commodity prices, so based on our expectations for lower oil prices over the cycle as well as the introduction of new technological innovations, we'd expect ConocoPhillips to hold on to the cost improvements during the next five years.",
    "output": "[Cause] Operating costs typically track movements in commodity prices [Relation] cause [Effect] based on our expectations for lower oil prices over the cycle as well as the introduction of new technological innovations, we'd expect ConocoPhillips to hold on to the cost improvements during the next five years",
    "gold": "[Cause]  based on our expectations for lower oil prices over the cycle as well as the introduction of new technological innovations [Relation] enable [Effect] ConocoPhillips to hold on to the cost improvements during the next five years",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We expect EBITDA margins in the engineered materials segment to fall to the high-20% range in 2020 due to the COVID-19-related economic slowdown.",
    "output": "[Cause] the COVID-19-related economic slowdown [Relation] cause [Effect] EBITDA margins in the engineered materials segment to fall to the high-20% range in 2020",
    "gold": "[Cause] the COVID-19-related economic slowdown [Relation] cause [Effect]  EBITDA margins in the engineered materials segment to fall to the high-20% range in 2020",
    "valid": true,
    "tag": "em"
  },
  {
    "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.",
    "output": "[Cause] there are hundreds of lodging management companies but only a few of those currently manage more than 100 properties with Hyatt one of them [Relation] enable [Effect] it a prime partner for third-party owners looking to outsource management responsibilities",
    "gold": "[Cause]  there are hundreds of lodging management companies but only a few of those currently manage more than 100 properties with Hyatt one of them [Relation] enable [Effect]  it a prime partner for third-party owners looking to outsource management responsibilities",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "While some portfolio decisions like the sale of biopharma were painful, they were well-priced and provide the firm with critical flexibility to shift from a persistent defensive to offensive posture.",
    "output": "[Cause] they were well-priced [Relation] enable [Effect] provide the firm with critical flexibility to shift from a persistent defensive to offensive posture",
    "gold": "[Cause]  some portfolio decisions [Relation] enable [Effect]  provide the firm with critical flexibility to shift from a persistent defensive to offensive posture",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We expect Sensata's margins to gradually improve as the company completes Schrader and CST's integration, though we foresee more \"\"\"\"bite-size\"\"\"\" acquisitions to curb potential margin expansion.",
    "output": "[Cause] the company completes Schrader and CST's integration [Relation] cause [Effect] Sensata's margins to gradually improve",
    "gold": "[Cause] more \"\"\"\"bite-size\"\"\"\" acquisitions [Relation] prevent [Effect] potential margin expansion",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We expect Sensata's margins to gradually improve as the company completes Schrader and CST's integration, though we foresee more \"\"\"\"bite-size\"\"\"\" acquisitions to curb potential margin expansion.",
    "output": "[Cause] more \"\"\"\"bite-size\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"\"",
    "gold": "[Cause] the company completes Schrader and CST's integration [Relation] cause [Effect] Sensata's margins to gradually improve",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "In these markets, routes are likely denser where it operates its own fleet, and even where it utilizes third-party logistics providers, it is fair to deduce that the aggregation of volumes from multiple vendors (and the concomitant negotiating power) allow it to extract better economic terms from these providers.",
    "output": "[Cause] the aggregation of volumes from multiple vendors (and the concomitant negotiating power) [Relation] enable [Effect] extract better economic terms from these providers",
    "gold": "[Cause] the aggregation of volumes from multiple vendors (and the concomitant negotiating power) [Relation] enable [Effect]  extract better economic terms from these providers",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Existing catalyst providers hold the advantage of being able to tweak their catalyst over time and maintain customer relationships, as catalyst suppliers continually improve refiner economics.",
    "output": "[Cause] catalyst suppliers continually improve refiner economics [Relation] enable [Effect] Existing catalyst providers hold the advantage of being able to tweak their catalyst over time and maintain customer relationships",
    "gold": "[Cause] catalyst suppliers continually improve refiner economics [Relation] enable [Effect] Existing catalyst providers hold the advantage of being able to tweak their catalyst over time and maintain customer relationships",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We expect growth to be fueled by the significant increase in members, increasing visit fees and cross-selling of multiple services, which should increase the stickiness of its offering.",
    "output": "[Cause] growth to be fueled by the significant increase in members, increasing visit fees and cross-selling of multiple services [Relation] cause [Effect] increase the stickiness of its offering",
    "gold": "[Cause] growth to be fueled by the significant increase in members [Relation] cause [Effect] increasing visit fees and cross-selling of multiple services",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "While competitors may have stronger positions in certain niches (for example, Harris in federal markets), we believe switching costs will help keep Motorola in the incumbent position for a number of reasons.",
    "output": "[Cause] switching costs [Relation] enable [Effect] keep Motorola in the incumbent position for a number of reasons",
    "gold": "[Cause]  a number of reasons [Relation] cause [Effect]  we believe switching costs will help keep Motorola in the incumbent position",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "First Data has been a laggard compared with peers over the past decade, as it was overwhelmed by an excessive debt load due to a leveraged buyout just before the financial crisis and the defection of a major bank partner.",
    "output": "[Cause] a leveraged buyout just before the financial crisis and the defection of a major bank partner [Relation] cause [Effect] it was overwhelmed by an excessive debt load",
    "gold": "[Cause] it was overwhelmed by an excessive debt load [Relation] cause [Effect] First Data has been a laggard compared with peers over the past decade",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "First Data has been a laggard compared with peers over the past decade, as it was overwhelmed by an excessive debt load due to a leveraged buyout just before the financial crisis and the defection of a major bank partner.",
    "output": "[Cause] it was overwhelmed by an excessive debt load [Relation] cause [Effect] First Data has been a laggard compared with peers over the past decade",
    "gold": "[Cause] a leveraged buyout just before the financial crisis and the defection of a major bank partner [Relation] cause [Effect] it was overwhelmed by an excessive debt load",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Crop chemical companies, including FMC, take additional steps to extend a successful product's patent life by up to five years by patenting the product formula and the manufacturing process.",
    "output": "[Cause] patenting the product formula and the manufacturing process [Relation] enable [Effect] extend a successful product's patent life by up to five years",
    "gold": "[Cause] patenting the product formula and the manufacturing process [Relation] enable [Effect] extend a successful product's patent life by up to five years",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We've held firm our forecast for the February-ending final quarter of fiscal 2020 with sales falling at a high-teens clip, in line with company guidance for a double-digit contraction, and higher costs due to shipping constraints and higher freight costs.",
    "output": "[Cause] shipping constraints and higher freight costs [Relation] cause [Effect] higher costs",
    "gold": "[Cause]  sales falling at a high-teens clip, in line with company guidance for a double-digit contraction, and higher costs due to shipping constraints and higher freight costs [Relation] cause [Effect] We've held firm our forecast for the February-ending final quarter of fiscal 2020",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "There are several factors that distort this metric that weaken the comparability of the data, including the complex network of licensing and contract brewing arrangements in global brewing, product mix and the variation in the raw materials and brewing processes across products, and foreign exchange.",
    "output": "[Cause] the complex network of licensing and contract brewing arrangements in global brewing, product mix and the variation in the raw materials and brewing processes across products, and foreign exchange [Relation] cause [Effect] weaken the comparability of the data",
    "gold": "[Cause]  several factors that distort this metric [Relation] cause [Effect] weaken the comparability of the data",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We use an above average cost of equity to discount our cash flow projections due to the highly cyclical nature of the business.",
    "output": "[Cause] the highly cyclical nature of the business [Relation] cause [Effect] We use an above average cost of equity to discount our cash flow projections",
    "gold": "[Cause] the highly cyclical nature of the business [Relation] cause [Effect] We use an above average cost of equity to discount our cash flow projections",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The risk to the strategy is that cost-cutting can go too far, and it is vital that the brands are supported with sufficient marketing spend to meet the increasing customer acquisition cost.",
    "output": "[Cause] cost-cutting can go too far [Relation] cause [Effect] the brands are supported with sufficient marketing spend to meet the increasing customer acquisition cost",
    "gold": "[Cause] the increasing customer acquisition cost [Relation] cause [Effect]  the brands are supported with sufficient marketing spend",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Because of the unique nature of the risks covered, specialty insurance cannot be handled in the standard insurance market, which helps prevent sporadic competition from less experienced peers who may have more financial capacity, and underwriters with a large amount of knowledge have an information edge.",
    "output": "[Cause] the unique nature of the risks covered [Relation] cause [Effect] specialty insurance cannot be handled in the standard insurance market",
    "gold": "[Cause] the unique nature of the risks covered, specialty insurance cannot be handled in the standard insurance market [Relation] prevent [Effect]  sporadic competition from less experienced peers who may have more financial capacity, and underwriters with a large amount of knowledge have an information edge",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "However, it is plausible, based on various economic convergence theories, that as per capita incomes rise globally, current value segments of the beer category are entirely replaced by a portion of what is now considered premium fare.",
    "output": "[Cause] per capita incomes rise globally [Relation] cause [Effect] current value segments of the beer category are entirely replaced by a portion of what is now considered premium fare",
    "gold": "[Cause] per capita incomes rise globally [Relation] cause [Effect] current value segments of the beer category are entirely replaced by a portion of what is now considered premium fare",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "As the global leader in animal genomics, we think Neogen can leverage existing relationships in the farming industry to successfully bring new genomic tests to market in the coming years, like the land-and-expand strategy used with its Ingenity suite of cattle genomics.",
    "output": "[Cause] the land-and-expand strategy used with its Ingenity suite of cattle genomics [Relation] enable [Effect] Neogen can leverage existing relationships in the farming industry to successfully bring new genomic tests to market in the coming years",
    "gold": "[Cause] existing relationships in the farming industry [Relation] enable [Effect] bring new genomic tests to market in the coming years",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Given Burger King's global presence, Tim Hortons' leadership in Canada, and Popeyes' intriguing global growth prospects, we believe RBI has considerable influence over its suppliers, which helps to provide access to food and other raw materials to its franchisees at competitive prices.",
    "output": "[Cause] Given Burger King's global presence, Tim Hortons' leadership in Canada, and Popeyes' intriguing global growth prospects [Relation] cause [Effect] RBI has considerable influence over its suppliers, which helps to provide access to food and other raw materials to its franchisees at competitive prices",
    "gold": "[Cause] RBI has considerable influence over its suppliers [Relation] enable [Effect] provide access to food and other raw materials to its franchisees at competitive prices",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "The assets are extremely well located in the Appalachian region (66% processing market share), where we expect substantial production growth over the coming years.",
    "output": "[Cause] The assets are extremely well located in the Appalachian region [Relation] enable [Effect] substantial production growth over the coming years",
    "gold": "[Cause] The assets are extremely well located in the Appalachian region [Relation] cause [Effect] substantial production growth over the coming years",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The regional sports networks have commanded high affiliate fees, but distributors could refuse to pay these increasing costs or place the RSNs in a higher-price programming tier, which would diminish customer counts and thus hurt RSN revenue.",
    "output": "[Cause] distributors could refuse to pay these increasing costs or place the RSNs in a higher-price programming tier [Relation] cause [Effect] The regional sports networks have commanded high affiliate fees",
    "gold": "[Cause] The regional sports networks have commanded high affiliate fees, but distributors could refuse to pay these increasing costs or place the RSNs in a higher-price programming tier [Relation] cause [Effect] diminish customer counts",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "In industrial equipment, electrical failure could shut down a factory floor or pose a risk to human safety in the event of fire or an explosion.",
    "output": "[Cause] electrical failure [Relation] cause [Effect] shut down a factory floor or pose a risk to human safety in the event of fire or an explosion",
    "gold": "[Cause]  in the event of fire or an explosion [Relation] enable [Effect] In industrial equipment, electrical failure could shut down a factory floor or pose a risk to human safety",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Sales volumes for narrow-bodies have increased over the past 20 years the worldwide rise of low-cost carriers and an emerging-market middle class.",
    "output": "[Cause] Sales volumes for narrow-bodies have increased over the past 20 years [Relation] enable [Effect] the worldwide rise of low-cost carriers and an emerging-market middle class",
    "gold": "[Cause] the worldwide rise of low-cost carriers and an emerging-market middle class [Relation] cause [Effect] Sales volumes for narrow-bodies have increased over the past 20 years",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "BorgWarner's ability to consistently innovate provides long-term pricing opportunities that, in conjunction with cost advantages derived from low-cost country locations, should support above-industry-average adjusted EBIT margins.",
    "output": "[Cause] cost advantages derived from low-cost country locations [Relation] enable [Effect] support above-industry-average adjusted EBIT margins",
    "gold": "[Cause] low-cost country locations [Relation] cause [Effect] conjunction with cost advantages",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Additionally, the coronavirus crisis and the resulting mass work-from-home expirement has raised questions about the viability of the office real estate industry.",
    "output": "[Cause] the coronavirus crisis and the resulting mass work-from-home expirement [Relation] cause [Effect] raised questions about the viability of the office real estate industry",
    "gold": "[Cause]  the coronavirus crisis and the resulting mass work-from-home expirement [Relation] cause [Effect]  raised questions about the viability of the office real estate industry",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Yet, increased electric vehicle penetration driven by government mandates and technical innovation will likely lead a decline in ethanol used for motor fuels over the next 30 years.",
    "output": "[Cause] increased electric vehicle penetration driven by government mandates and technical innovation [Relation] cause [Effect] a decline in ethanol used for motor fuels over the next 30 years",
    "gold": "[Cause]  increased electric vehicle penetration driven by government mandates and technical innovation [Relation] cause [Effect] a decline in ethanol used for motor fuels over the next 30 years",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In our view, Grainger's established reputation and inventory management capabilities should prevent a race to the bottom in terms of pricing; however, if Grainger's gross margins converged with Amazon's, we estimate that the firm would struggle to generate excess returns.",
    "output": "[Cause] Grainger's established reputation and inventory management capabilities [Relation] prevent [Effect] a race to the bottom in terms of pricing",
    "gold": "[Cause] Grainger's established reputation and inventory management capabilities [Relation] prevent [Effect]  a race to the bottom in terms of pricing",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In our view, Grainger's established reputation and inventory management capabilities should prevent a race to the bottom in terms of pricing; however, if Grainger's gross margins converged with Amazon's, we estimate that the firm would struggle to generate excess returns.",
    "output": "[Cause] Grainger's gross margins converged with Amazon's [Relation] cause [Effect] the firm would struggle to generate excess returns",
    "gold": "[Cause] Grainger's gross margins converged with Amazon's [Relation] cause [Effect] the firm would struggle to generate excess returns",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Supply has been muted in high-barrier cities, such as Los Angeles and San Francisco, which has allowed management to drive double-digit rent increases in recent years.",
    "output": "[Cause] Supply has been muted in high-barrier cities, such as Los Angeles and San Francisco [Relation] enable [Effect] management to drive double-digit rent increases in recent years",
    "gold": "[Cause] Supply has been muted in high-barrier cities, such as Los Angeles and San Francisco [Relation] cause [Effect] management to drive double-digit rent increases in recent years",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We posit that Mondelez's competitive edge results from more than just its brand intangible assets, though, as we also believe it enjoys a cost advantage stemming from economies of scale.",
    "output": "[Cause] economies of scale [Relation] cause [Effect] a cost advantage",
    "gold": "[Cause] a cost advantage stemming from economies of scale [Relation] enable [Effect] Mondelez's competitive edge",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We posit that Mondelez's competitive edge results from more than just its brand intangible assets, though, as we also believe it enjoys a cost advantage stemming from economies of scale.",
    "output": "[Cause] economies of scale [Relation] cause [Effect] it enjoys a cost advantage",
    "gold": "[Cause]  its brand intangible assets [Relation] enable [Effect] Mondelez's competitive edge",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "However, underwhelming mine plans, downgraded planned mill sizes, and construction decision deferrals led to the write-down of nearly the entire purchase price over the three years after the acquisition.",
    "output": "[Cause] underwhelming mine plans, downgraded planned mill sizes, and construction decision deferrals [Relation] cause [Effect] the write-down of nearly the entire purchase price over the three years after the acquisition",
    "gold": "[Cause] underwhelming mine plans, downgraded planned mill sizes, and construction decision deferrals [Relation] cause [Effect]  the write-down of nearly the entire purchase price over the three years after the acquisition",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Exxon has bolstered its portfolio over the last few years through discovery (Guyana) and acquisition (Permian, Mozambique), and these new resources will contribute the bulk of any new volume growth.",
    "output": "[Cause] discovery (Guyana) and acquisition (Permian, Mozambique) [Relation] enable [Effect] Exxon has bolstered its portfolio over the last few years",
    "gold": "[Cause] these new resources [Relation] enable [Effect] will contribute the bulk of any new volume growth",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Maximizing inventory turnover across a broad customer base also provides a balance sheet benefit, with large retailers able to secure attractive vendor financing to mitigate the impact of high inventory levels.",
    "output": "[Cause] Maximizing inventory turnover across a broad customer base also provides a balance sheet benefit, with large retailers able to secure attractive vendor financing [Relation] enable [Effect] mitigate the impact of high inventory levels",
    "gold": "[Cause] mitigate the impact of high inventory levels [Relation] cause [Effect] Maximizing inventory turnover across a broad customer base also provides a balance sheet benefit",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "However, overall, we view Merck's uncertainty as medium, given the wide diversity of largely inelastic drugs in the company's portfolio.",
    "output": "[Cause] the wide diversity of largely inelastic drugs in the company's portfolio [Relation] cause [Effect] we view Merck's uncertainty as medium",
    "gold": "[Cause] the wide diversity of largely inelastic drugs in the company's portfolio [Relation] cause [Effect]  we view Merck's uncertainty as medium",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "As a result, Sinopec's earnings are generally less sensitive to oil prices swings than peer PetroChina's, and so it benefits less in a rising oil price environment but is also more stable when prices fall.",
    "output": "[Cause] Sinopec's earnings are generally less sensitive to oil prices swings than peer PetroChina's [Relation] cause [Effect] it benefits less in a rising oil price environment but is also more stable when prices fall",
    "gold": "[Cause] Sinopec's earnings are generally less sensitive to oil prices swings than peer PetroChina's [Relation] cause [Effect] it benefits less in a rising oil price environment but is also more stable when prices fall",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "However, the productivity of company-owned stores has been declining, as Kors has not reported positive same-store sales growth in the past six years and Capri is in the process of closing as many as 170 locations.",
    "output": "[Cause] Kors has not reported positive same-store sales growth in the past six years and Capri is in the process of closing as many as 170 locations [Relation] cause [Effect] the productivity of company-owned stores has been declining",
    "gold": "[Cause]  Kors has not reported positive same-store sales growth in the past six years and Capri is in the process of closing as many as 170 locations [Relation] cause [Effect] the productivity of company-owned stores has been declining",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Additionally, clients enter into nonexclusive contracts with Manpower and its competitors, limiting its ability to become the preferred supplier of job candidates, though Robert Half's small- and midsize business exposure allows for more exclusive contracts.",
    "output": "[Cause] clients enter into nonexclusive contracts with Manpower and its competitors [Relation] prevent [Effect] its ability to become the preferred supplier of job candidates",
    "gold": "[Cause] Robert Half's small- and midsize business exposure allows for more exclusive contracts [Relation] enable [Effect]  clients enter into nonexclusive contracts with Manpower and its competitors, limiting its ability to become the preferred supplier of job candidates",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We forecast total rooms averaging annual growth of 5.7% over the next decade, driven by our managed and franchised 10-year annual forecast of 6.1% growth.",
    "output": "[Cause] our managed and franchised 10-year annual forecast of 6.1% growth [Relation] cause [Effect] We forecast total rooms averaging annual growth of 5.7% over the next decade",
    "gold": "[Cause]  our managed and franchised 10-year annual forecast of 6.1% growth [Relation] enable [Effect] We forecast total rooms averaging annual growth of 5.7% over the next decade",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Mainly, this stems from the fact that customers prefer to enter into supply relationships with a number of different companies and, therefore, require that the production of mission-critical materials not be patent-protected.",
    "output": "[Cause] customers prefer to enter into supply relationships with a number of different companies [Relation] cause [Effect] require that the production of mission-critical materials not be patent-protected",
    "gold": "[Cause] customers prefer to enter into supply relationships with a number of different companies [Relation] cause [Effect] require that the production of mission-critical materials not be patent-protected",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Coal production will be disrupted for approximately five months in 2020, with a consequent impact on unit costs and margins.",
    "output": "[Cause] Coal production will be disrupted for approximately five months in 2020 [Relation] cause [Effect] a consequent impact on unit costs and margins",
    "gold": "[Cause] a consequent impact on unit costs and margins [Relation] cause [Effect] Coal production will be disrupted for approximately five months in 2020",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Since 2008, Bradesco has routinely increased fee income by 10%-15%, though we believe these days are winding down with increasingly stringent regulation and competition from non-bank financial institutions (NBFIs).",
    "output": "[Cause] increasingly stringent regulation and competition from non-bank financial institutions (NBFIs) [Relation] cause [Effect] these days are winding down",
    "gold": "[Cause]  increasingly stringent regulation and competition from non-bank financial institutions (NBFIs) [Relation] cause [Effect]  these days are winding down",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The Ionis portfolio is a mix of partnerships and wholly-owned projects, and outsourcing the higher-cost clinical trials to partners helps the firm avoid major value destruction, even if several programs fail to reach the market.",
    "output": "[Cause] outsourcing the higher-cost clinical trials to partners [Relation] enable [Effect] the firm avoid major value destruction",
    "gold": "[Cause] outsourcing the higher-cost clinical trials to partners [Relation] enable [Effect]  the firm avoid major value destruction",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "To meet demand, higher-cost supply will need to come on line from lower quality resources that will require higher processing costs.",
    "output": "[Cause] higher-cost supply [Relation] enable [Effect] meet demand",
    "gold": "[Cause] To meet demand [Relation] cause [Effect] higher-cost supply will need to come on line from lower quality resources",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "To meet demand, higher-cost supply will need to come on line from lower quality resources that will require higher processing costs.",
    "output": "[Cause] higher processing costs [Relation] cause [Effect] higher-cost supply will need to come on line from lower quality resources",
    "gold": "[Cause] higher-cost supply will need to come on line from lower quality resources [Relation] cause [Effect] higher processing costs",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "While we think the increasing popularity of yoga benefits Lululemon's brand given its close association with the practice, we acknowledge that it must invest to maintain this relationship due to intense competition.",
    "output": "[Cause] intense competition [Relation] cause [Effect] it must invest to maintain this relationship",
    "gold": "[Cause]  the increasing popularity of yoga [Relation] enable [Effect] benefits Lululemon's brand",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "While we think the increasing popularity of yoga benefits Lululemon's brand given its close association with the practice, we acknowledge that it must invest to maintain this relationship due to intense competition.",
    "output": "[Cause] intense competition [Relation] cause [Effect] it must invest to maintain this relationship",
    "gold": "[Cause]  its close association with the practice [Relation] cause [Effect] the increasing popularity of yoga benefits Lululemon's brand",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "While we think the increasing popularity of yoga benefits Lululemon's brand given its close association with the practice, we acknowledge that it must invest to maintain this relationship due to intense competition.",
    "output": "[Cause] intense competition [Relation] cause [Effect] it must invest to maintain this relationship",
    "gold": "[Cause] invest [Relation] enable [Effect] maintain this relationship",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Ansys' head start, and thus greater financial sources, has allowed the company to gain a number of certifications on its simulations that speed up its clients' regulatory approval process in the R&amp;D stages.",
    "output": "[Cause] Ansys' head start [Relation] enable [Effect] greater financial sources",
    "gold": "[Cause] Ansys' head start, and thus greater financial sources [Relation] enable [Effect] allowed the company to gain a number of certifications on its simulations",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Ansys' head start, and thus greater financial sources, has allowed the company to gain a number of certifications on its simulations that speed up its clients' regulatory approval process in the R&amp;D stages.",
    "output": "[Cause] Ansys' head start [Relation] enable [Effect] the company to gain a number of certifications on its simulations",
    "gold": "[Cause] allowed the company to gain a number of certifications on its simulations [Relation] enable [Effect]  speed up its clients' regulatory approval process in the R&amp;D stages",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "The project has cleared many hurdles, unlike other pipelines, due to the need to replace the existing pipeline, but a turn in the pipeline's fate would still lead to increased profitability to the firm through increased tolls on the existing Mainline routes.",
    "output": "[Cause] the need to replace the existing pipeline [Relation] cause [Effect] The project has cleared many hurdles",
    "gold": "[Cause] the need to replace the existing pipeline [Relation] cause [Effect] The project has cleared many hurdles",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The project has cleared many hurdles, unlike other pipelines, due to the need to replace the existing pipeline, but a turn in the pipeline's fate would still lead to increased profitability to the firm through increased tolls on the existing Mainline routes.",
    "output": "[Cause] increased tolls on the existing Mainline routes [Relation] cause [Effect] increased profitability to the firm",
    "gold": "[Cause] a turn in the pipeline's fat [Relation] cause [Effect] increased profitability to the firm through increased tolls on the existing Mainline routes",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "If these players pursue aggressive marketing and pricing strategies to retain and expand their market share, it could hurt KPN's margins.",
    "output": "[Cause] these players pursue aggressive marketing and pricing strategies to retain and expand their market share [Relation] cause [Effect] hurt KPN's margins",
    "gold": "[Cause] these players pursue aggressive marketing and pricing strategies to retain and expand their market share [Relation] cause [Effect] hurt KPN's margins",
    "valid": true,
    "tag": "em"
  },
  {
    "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%.",
    "output": "[Cause] Ingersoll-Rand said that iConn has increased the aftermarket opportunity for connected compressors by as much as 25% [Relation] cause [Effect] the company can benefit from increased aftermarket sales",
    "gold": "[Cause] Ingersoll-Rand said that iConn has increased the aftermarket opportunity for connected compressors by as much as 25% [Relation] cause [Effect]  the company can benefit from increased aftermarket sales",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "That said, improvements to the Goderich mine should reduce unit costs over the next few years, which should drive meaningful salt segment operating earnings growth.",
    "output": "[Cause] improvements to the Goderich mine [Relation] enable [Effect] reduce unit costs over the next few years",
    "gold": "[Cause] improvements to the Goderich mine [Relation] cause [Effect] reduce unit costs over the next few years",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "GitHub was expensive but strategic and seems to be shaping up as a success, while the ZeniMax deal should boost the company's first party video game publishing efforts.",
    "output": "[Cause] the ZeniMax deal [Relation] enable [Effect] boost the company's first party video game publishing efforts",
    "gold": "[Cause] the ZeniMax deal [Relation] enable [Effect] boost the company's first party video game publishing efforts",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We assume a 10% cost of equity that includes a 1% country risk premium due to the significant portion of AES' earnings from emerging markets.",
    "output": "[Cause] the significant portion of AES' earnings from emerging markets [Relation] cause [Effect] a 10% cost of equity that includes a 1% country risk premium",
    "gold": "[Cause]  the significant portion of AES' earnings from emerging markets [Relation] cause [Effect] a 10% cost of equity that includes a 1% country risk premium",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Lilly's diversified product portfolio means the company's top drugs represent only a moderate amount of total sales, with the largest drug, Trulicity, representing almost 20% of total sales, which sets up manageable cash flow declines as new products mitigate the generic competition.",
    "output": "[Cause] new products mitigate the generic competition [Relation] cause [Effect] sets up manageable cash flow declines",
    "gold": "[Cause] Lilly's diversified product portfolio means the company's top drugs represent only a moderate amount of total sales, with the largest drug, Trulicity, representing almost 20% of total sales [Relation] enable [Effect]  sets up manageable cash flow declines as new products mitigate the generic competition",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "As a result, Autoliv has a high degree of operating leverage, so sudden declines in volume can have a meaningful impact on profit.",
    "output": "[Cause] Autoliv has a high degree of operating leverage [Relation] cause [Effect] sudden declines in volume can have a meaningful impact on profit",
    "gold": "[Cause]  Autoliv has a high degree of operating leverage [Relation] cause [Effect] sudden declines in volume can have a meaningful impact on profit",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Transco's link between low-cost Gulf Coast gas supply and high-priced Northeast gas demand allows it to charge high fees for customers to use its pipelines.",
    "output": "[Cause] Transco's link between low-cost Gulf Coast gas supply and high-priced Northeast gas demand [Relation] enable [Effect] it to charge high fees for customers to use its pipelines",
    "gold": "[Cause] Transco's link between low-cost Gulf Coast gas supply and high-priced Northeast gas demand [Relation] enable [Effect] it to charge high fees for customers to use its pipelines",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The international unit (just over 20% of revenue) should see sales and profitability rise after the pandemic eases as Valvoline builds its presence in new markets.",
    "output": "[Cause] Valvoline builds its presence in new markets [Relation] cause [Effect] The international unit (just over 20% of revenue) should see sales and profitability rise after the pandemic eases",
    "gold": "[Cause] Valvoline builds its presence in new markets [Relation] cause [Effect] The international unit (just over 20% of revenue) should see sales and profitability rise after the pandemic eases",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Ionis therapies alter production of a given protein in the body, typically reducing production of a toxic, mutant version.",
    "output": "[Cause] Ionis therapies alter production of a given protein in the body [Relation] cause [Effect] reducing production of a toxic, mutant version",
    "gold": "[Cause] Ionis therapies alter production of a given protein in the body [Relation] cause [Effect] reducing production of a toxic, mutant version",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "With a client roster including Apple, Qualcomm, SpaceX, Rolls Royce, Samsung, and Boeing, design failures are simply not an option.",
    "output": "[Cause] a client roster including Apple, Qualcomm, SpaceX, Rolls Royce, Samsung, and Boeing [Relation] cause [Effect] design failures are simply not an option",
    "gold": "[Cause] a client roster including Apple, Qualcomm, SpaceX, Rolls Royce, Samsung, and Boeing [Relation] cause [Effect] design failures are simply not an option",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "With very well-recognized creative agencies and subholding companies such as BBDO and DDB, we expect Omnicom to maintain its market position as it generates competitive organic growth, continues to make acquisitions, and increases focus on the faster-growing emerging markets and the overall digital ad markets.",
    "output": "[Cause] it generates competitive organic growth, continues to make acquisitions, and increases focus on the faster-growing emerging markets and the overall digital ad markets [Relation] cause [Effect] Omnicom to maintain its market position",
    "gold": "[Cause] it generates competitive organic growth, continues to make acquisitions, and increases focus on the faster-growing emerging markets and the overall digital ad markets [Relation] cause [Effect] Omnicom to maintain its market position",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Over the next five years, our model assumes consolidated restaurant margins rebound and remain between 17% and 19% because of increased operating leverage, with adjusted operating margins moving to the mid 40s due to the impact of sales leverage and SG&A optimization.",
    "output": "[Cause] increased operating leverage [Relation] cause [Effect] consolidated restaurant margins rebound and remain between 17% and 19%",
    "gold": "[Cause] the impact of sales leverage and SG&A optimization [Relation] cause [Effect] adjusted operating margins moving to the mid 40s",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Over the next five years, our model assumes consolidated restaurant margins rebound and remain between 17% and 19% because of increased operating leverage, with adjusted operating margins moving to the mid 40s due to the impact of sales leverage and SG&A optimization.",
    "output": "[Cause] the impact of sales leverage and SG&A optimization [Relation] cause [Effect] adjusted operating margins moving to the mid 40s",
    "gold": "[Cause] increased operating leverage [Relation] cause [Effect]  our model assumes consolidated restaurant margins rebound and remain between 17% and 19%",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Similarly, Eastman faces risk of future environmental liabilities should new regulations result in the need for cleanup.",
    "output": "[Cause] new regulations result in the need for cleanup [Relation] cause [Effect] Eastman faces risk of future environmental liabilities",
    "gold": "[Cause]  Eastman faces risk of future environmental liabilities should new regulations [Relation] cause [Effect]  the need for cleanup",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Over the long run, we expect the rail to invest approximately 19% of sales on average in capex to maintain and improve network operations--below the historical average thanks in part to previous asset utilization gains.",
    "output": "[Cause] previous asset utilization gains [Relation] cause [Effect] the rail to invest approximately 19% of sales on average in capex to maintain and improve network operations--below the historical average",
    "gold": "[Cause] previous asset utilization gains [Relation] cause [Effect] expect the rail to invest approximately 19% of sales on average in capex to maintain",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Recent acquisitions of GIGAVAC and Xirgo will allow Sensata to compete in the electric vehicle charging infrastructure and telematics markets, respectively, which we expect to begin to bolster the top line and margins near the end of our explicit forecast and beyond.",
    "output": "[Cause] Recent acquisitions of GIGAVAC and Xirgo [Relation] enable [Effect] Sensata to compete in the electric vehicle charging infrastructure and telematics markets, respectively, which we expect to begin to bolster the top line and margins near the end of our explicit forecast and beyond",
    "gold": "[Cause] Recent acquisitions of GIGAVAC and Xirgo [Relation] enable [Effect] allow Sensata to compete in the electric vehicle charging infrastructure and telematics markets",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "AT&amp;T appears to have little appetite to expand its fiber footprint meaningfully going forward as its focus has turned to wireless and the media business.",
    "output": "[Cause] its focus has turned to wireless and the media business [Relation] cause [Effect] AT&amp;T appears to have little appetite to expand its fiber footprint meaningfully going forward",
    "gold": "[Cause]  its focus has turned to wireless and the media business [Relation] cause [Effect] AT&amp;T appears to have little appetite to expand its fiber footprint meaningfully going forward",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "While sales declined 16% in 2020 due to COVID-19, we think Adidas is poised to meet many of the goals of its five-year Own the Game plan.",
    "output": "[Cause] COVID-19 [Relation] cause [Effect] sales declined 16% in 2020",
    "gold": "[Cause]  COVID-19 [Relation] cause [Effect] sales declined 16% in 2020",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "While explaining why the firm's gross margins are about 10 points below that of peers, former CEO Pierre Laubies stated that operational complexity has led to resources being spread too thin, which had led to a lack of pricing power.",
    "output": "[Cause] operational complexity [Relation] cause [Effect] resources being spread too thin",
    "gold": "[Cause] operational complexity has led to resources being spread too thin [Relation] cause [Effect] a lack of pricing power",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Given that the life insurance business contains few fixed costs, we do not think scale constitutes a meaningful source of advantage.",
    "output": "[Cause] the life insurance business contains few fixed costs [Relation] cause [Effect] we do not think scale constitutes a meaningful source of advantage",
    "gold": "[Cause]  the life insurance business contains few fixed costs [Relation] cause [Effect] we do not think scale constitutes a meaningful source of advantage",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Additionally, given the uniquely risk-averse nature of local government and public institutions, deals require a variety of reference accounts--and Tyler company has spent more than two decades building a roster of clients, beginning with small local institutions, building over time to major cities and even statewide deals.",
    "output": "[Cause] the uniquely risk-averse nature of local government and public institutions [Relation] cause [Effect] deals require a variety of reference accounts",
    "gold": "[Cause] the uniquely risk-averse nature of local government and public institutions [Relation] cause [Effect] deals require a variety of reference accounts",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The firm pays BCOs a fixed percentage of revenue, which reduces its gross-margin percentage (net revenue/gross revenue) variability relative to peers like C.H.",
    "output": "[Cause] The firm pays BCOs a fixed percentage of revenue [Relation] enable [Effect] reduces its gross-margin percentage (net revenue/gross revenue) variability relative to peers like C.H",
    "gold": "[Cause] The firm pays BCOs a fixed percentage of revenue [Relation] prevent [Effect]  its gross-margin percentage (net revenue/gross revenue) variability relative to peers like C.H.",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We use a lower cost of equity relative to peer legacies due to a smaller proportion of debt in the capital structure.",
    "output": "[Cause] a smaller proportion of debt in the capital structure [Relation] cause [Effect] We use a lower cost of equity relative to peer legacies",
    "gold": "[Cause] a smaller proportion of debt in the capital structure [Relation] enable [Effect] We use a lower cost of equity relative to peer legacies",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In such a scenario, the company could also offer consumers a lower price because of their implied value proposition of greater liquidity.",
    "output": "[Cause] their implied value proposition of greater liquidity [Relation] cause [Effect] the company could also offer consumers a lower price",
    "gold": "[Cause] their implied value proposition of greater liquidity [Relation] cause [Effect]  the company could also offer consumers a lower price",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We expect a strong rebound in 2022 and 2023 as data center buildouts fuel strong nearline demand, and also think Western will claw back some of its market share losses as it matches Seagate's timeline for 18 TB and 20 TB shipments.",
    "output": "[Cause] data center buildouts fuel strong nearline demand [Relation] cause [Effect] a strong rebound in 2022 and 2023",
    "gold": "[Cause] data center buildouts fuel strong nearline demand [Relation] cause [Effect] a strong rebound in 2022 and 2023",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We expect a strong rebound in 2022 and 2023 as data center buildouts fuel strong nearline demand, and also think Western will claw back some of its market share losses as it matches Seagate's timeline for 18 TB and 20 TB shipments.",
    "output": "[Cause] it matches Seagate's timeline for 18 TB and 20 TB shipments [Relation] cause [Effect] Western will claw back some of its market share losses",
    "gold": "[Cause]  it matches Seagate's timeline for 18 TB and 20 TB shipments [Relation] cause [Effect]  Western will claw back some of its market share losses",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Credit costs will likely increase as fiscal stimulus fades, but we do not expect this to materially threaten the company's balance sheet, which has only strengthened as the pandemic has dragged on.",
    "output": "[Cause] fiscal stimulus fades [Relation] cause [Effect] Credit costs will likely increase",
    "gold": "[Cause] fiscal stimulus fades [Relation] cause [Effect] Credit costs will likely increase",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In Bell military, we're broadly expecting sales declines after sales declines after 2022 due to a production rampdown of the V-22.",
    "output": "[Cause] a production rampdown of the V-22 [Relation] cause [Effect] sales declines after sales declines after 2022",
    "gold": "[Cause] we're broadly expecting sales declines after sales declines after 2022 [Relation] cause [Effect] a production rampdown of the V-22",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Although we do not think CooperSurgical and CooperVision benefit from any cost synergies, given the businesses' disparate natures, we contend that CooperSurgical can leverage its already existing relationships with obstetricians and other women's health professionals to market Paragard.",
    "output": "[Cause] the businesses' disparate natures [Relation] cause [Effect] CooperSurgical and CooperVision benefit from any cost synergies",
    "gold": "[Cause] the businesses' disparate natures [Relation] prevent [Effect] CooperSurgical and CooperVision benefit from any cost synergies",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Although we do not think CooperSurgical and CooperVision benefit from any cost synergies, given the businesses' disparate natures, we contend that CooperSurgical can leverage its already existing relationships with obstetricians and other women's health professionals to market Paragard.",
    "output": "[Cause] the businesses' disparate natures [Relation] cause [Effect] CooperSurgical can leverage its already existing relationships with obstetricians and other women's health professionals to market Paragard",
    "gold": "[Cause] obstetricians and other women's health professionals to market Paragard [Relation] enable [Effect] CooperSurgical can leverage its already existing relationships",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We expect sales to grow at a low-single-digit pace over the long term (3%-4%, after our 2% forecast increase for 2021), supported by consistent single-digit same-store sales (3%-4% between 2022-29) and moderate location growth (netting 10 boxes per year after 2020), as household formations rise.",
    "output": "[Cause] household formations rise [Relation] cause [Effect] sales to grow at a low-single-digit pace over the long term (3%-4%, after our 2% forecast increase for 2021), supported by consistent single-digit same-store sales (3%-4% between 2022-29) and moderate location growth (netting 10 boxes per year after 2020)",
    "gold": "[Cause] consistent single-digit same-store sales (3%-4% between 2022-29) and moderate location growth (netting 10 boxes per year after 2020) [Relation] cause [Effect]  sales to grow at a low-single-digit pace over the long term (3%-4%, after our 2% forecast increase for 2021)",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Our understanding is that while there are identifiable differences between the two brands, selecting a brand is akin to choosing between a Ford and a Chevy where brand loyalty influences purchase decisions.",
    "output": "[Cause] choosing between a Ford and a Chevy where brand loyalty influences purchase decisions [Relation] cause [Effect] selecting a brand is akin to choosing between a Ford and a Chevy",
    "gold": "[Cause] brand loyalty [Relation] cause [Effect] purchase decisions",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "If changes to the ACA cause healthcare subsectors that Healthpeak invests in to fall out of favor, then the performance and asset values of Healthpeak's portfolio will suffer.",
    "output": "[Cause] changes to the ACA [Relation] cause [Effect] healthcare subsectors that Healthpeak invests in to fall out of favor",
    "gold": "[Cause] changes to the ACA [Relation] cause [Effect] healthcare subsectors that Healthpeak invests in to fall out of favor",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "If changes to the ACA cause healthcare subsectors that Healthpeak invests in to fall out of favor, then the performance and asset values of Healthpeak's portfolio will suffer.",
    "output": "[Cause] healthcare subsectors that Healthpeak invests in to fall out of favor [Relation] cause [Effect] the performance and asset values of Healthpeak's portfolio will suffer",
    "gold": "[Cause] healthcare subsectors that Healthpeak invests in to fall out of favor [Relation] cause [Effect] the performance and asset values of Healthpeak's portfolio will suffer",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Memory suppliers must focus on new process technologies and structures such as 3D NAND to lower costs and thus maintain margins.",
    "output": "[Cause] Memory suppliers must focus on new process technologies and structures such as 3D NAND to lower costs [Relation] enable [Effect] maintain margins",
    "gold": "[Cause] Memory suppliers must focus on new process technologies and structures [Relation] enable [Effect] lower costs  | maintain margins",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Natural and organic product sales are growing around mid- to high single digits annually, while the overall food and beverage market grows about 2%. Therefore, we think the category can approximate a mid- to high-teens level of domestic food and beverage sales over the course of the next two decades.",
    "output": "[Cause] Natural and organic product sales are growing around mid- to high single digits annually, while the overall food and beverage market grows about 2% [Relation] cause [Effect] the category can approximate a mid- to high-teens level of domestic food and beverage sales over the course of the next two decades",
    "gold": "[Cause] Natural and organic product sales are growing around mid- to high single digits annually, while the overall food and beverage market grows about 2% [Relation] cause [Effect] the category can approximate a mid- to high-teens level of domestic food and beverage sales over the course of the next two decades",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "This is bolstered by Community Intelligence, which powers AI-driven insights into spending habits- as business spend within Coupa's platform grows, the value derived by businesses from Coupa's AI grows as well.",
    "output": "[Cause] business spend within Coupa's platform grows, the value derived by businesses from Coupa's AI grows as well [Relation] enable [Effect] This is bolstered by Community Intelligence, which powers AI-driven insights into spending habits",
    "gold": "[Cause] business spend within Coupa's platform grows [Relation] cause [Effect] the value derived by businesses from Coupa's AI grows as well",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "In a dry year, AES was forced to buy power in the open market to fulfill its power supply contracts.",
    "output": "[Cause] AES was forced to buy power in the open market [Relation] enable [Effect] fulfill its power supply contracts",
    "gold": "[Cause] a dry year [Relation] cause [Effect] AES was forced to buy power in the open market to fulfill its power supply contracts",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Nevertheless, we view leadership's approach as prudent as it leaves them less leveraged to the inevitable seltzer deceleration, and expect gross margins to rebound to 51% by 2025 as company-owned capacity recalibrates with normalized category growth.",
    "output": "[Cause] it leaves them less leveraged to the inevitable seltzer deceleration [Relation] cause [Effect] leadership's approach as prudent",
    "gold": "[Cause] company-owned capacity recalibrates with normalized category growth [Relation] cause [Effect] gross margins to rebound to 51% by 2025",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Nevertheless, we view leadership's approach as prudent as it leaves them less leveraged to the inevitable seltzer deceleration, and expect gross margins to rebound to 51% by 2025 as company-owned capacity recalibrates with normalized category growth.",
    "output": "[Cause] company-owned capacity recalibrates with normalized category growth [Relation] cause [Effect] gross margins to rebound to 51% by 2025",
    "gold": "[Cause] it leaves them less leveraged to the inevitable seltzer deceleration [Relation] cause [Effect] we view leadership's approach as prudent",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Notably, with the recent volatility in shipping prices and lower demand from China due to trade tensions, Cheniere remains well positioned, as European demand has increased.",
    "output": "[Cause] European demand has increased [Relation] cause [Effect] Cheniere remains well positioned",
    "gold": "[Cause] Notably, with the recent volatility in shipping prices and lower demand from China due to trade tensions [Relation] enable [Effect] Cheniere remains well positioned, as European demand has increased",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "The firm's exposure to pressure pumping offers opportunity for diversification, however, we expect extremely low margins will hamper Patterson's potential to generate superior returns relative to competitors in the space.",
    "output": "[Cause] The firm's exposure to pressure pumping [Relation] enable [Effect] opportunity for diversification",
    "gold": "[Cause] extremely low margins [Relation] prevent [Effect] Patterson's potential to generate superior returns relative to competitors in the space",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "The firm's exposure to pressure pumping offers opportunity for diversification, however, we expect extremely low margins will hamper Patterson's potential to generate superior returns relative to competitors in the space.",
    "output": "[Cause] extremely low margins [Relation] prevent [Effect] Patterson's potential to generate superior returns relative to competitors in the space",
    "gold": "[Cause] The firm's exposure to pressure [Relation] enable [Effect] opportunity for diversification",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Although the pandemic negatively affected its sales, profit, and ROIC in each of the past two years, we forecast 2 Jun 2021 05:00, UTCits adjusted ROICs including goodwill to average 19% over the next decade, well above our estimated weighted average cost of capital for the company of 10%.",
    "output": "[Cause] the pandemic [Relation] cause [Effect] negatively affected its sales, profit, and ROIC in each of the past two years",
    "gold": "[Cause] the pandemic [Relation] cause [Effect] negatively affected its sales, profit, and ROIC in each of the past two years",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Although the pandemic negatively affected its sales, profit, and ROIC in each of the past two years, we forecast 2 Jun 2021 05:00, UTCits adjusted ROICs including goodwill to average 19% over the next decade, well above our estimated weighted average cost of capital for the company of 10%.",
    "output": "[Cause] UTCits adjusted ROICs including goodwill to average 19% over the next decade [Relation] cause [Effect] well above our estimated weighted average cost of capital for the company of 10%",
    "gold": "[Cause] the pandemic [Relation] cause [Effect] we forecast 2 Jun 2021 05:00, UTCits adjusted ROICs including goodwill to average 19% over the next decade, well above our estimated weighted average cost of capital for the company of 10%",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "The FDA approval process for a topical generic takes more time and can cost more than 4 times the amount of the conventional generic process, making this market less appealing for competition.",
    "output": "[Cause] The FDA approval process for a topical generic takes more time and can cost more than 4 times the amount of the conventional generic process [Relation] cause [Effect] making this market less appealing for competition",
    "gold": "[Cause] The FDA approval process for a topical generic takes more time and can cost more than 4 times the amount of the conventional generic process [Relation] enable [Effect] making this market less appealing for competition",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "At a high level, we believe there are characteristics endemic to the nonalcoholic beverage industry more generally, as well as Coca-Cola's specific positioning in this industry, that result in a competitively advantaged business.",
    "output": "[Cause] At a high level, we believe there are characteristics endemic to the nonalcoholic beverage industry more generally, as well as Coca-Cola's specific positioning in this industry [Relation] cause [Effect] a competitively advantaged business",
    "gold": "[Cause] At a high level, we believe there are characteristics endemic to the nonalcoholic beverage industry more generally, as well as Coca-Cola's specific positioning in this industry [Relation] cause [Effect] a competitively advantaged business",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Longer term, headwinds from conservation will remain strong, owing to volatile propane prices and encroachment by electricity and natural gas.",
    "output": "[Cause] volatile propane prices and encroachment by electricity and natural gas [Relation] cause [Effect] headwinds from conservation will remain strong",
    "gold": "[Cause] volatile propane prices and encroachment by electricity and natural gas [Relation] cause [Effect]  headwinds from conservation will remain strong",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Low natural gas prices and increased Environmental Protection Agency regulations have put a material portion of the domestic utility coal franchise at risk of disappearing, and export coal demand is likely to see near term declines on sluggish demand for met coal linked to soft steel demand overseas.",
    "output": "[Cause] Low natural gas prices and increased Environmental Protection Agency regulations [Relation] cause [Effect] export coal demand is likely to see near term declines on sluggish demand for met coal linked to soft steel demand overseas",
    "gold": "[Cause] soft steel demand overseas [Relation] prevent [Effect] demand for met coal",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Our outlook is predicated on a period of relatively tight supply conditions for OSB suppliers, with North American capacity utilization averaging 85%-90% over the coming five years due to a rebound in housing starts.",
    "output": "[Cause] a rebound in housing starts [Relation] cause [Effect] North American capacity utilization averaging 85%-90% over the coming five years",
    "gold": "[Cause] a period of relatively tight supply conditions for OSB suppliers [Relation] cause [Effect] Our outlook",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Our outlook is predicated on a period of relatively tight supply conditions for OSB suppliers, with North American capacity utilization averaging 85%-90% over the coming five years due to a rebound in housing starts.",
    "output": "[Cause] a rebound in housing starts [Relation] cause [Effect] North American capacity utilization averaging 85%-90% over the coming five years",
    "gold": "[Cause] a rebound in housing starts [Relation] cause [Effect] North American capacity utilization averaging 85%-90% over the coming five years",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "By operating as a closed loop network, American Express can capture the full economic profit from a single credit card payment.",
    "output": "[Cause] operating as a closed loop network [Relation] enable [Effect] American Express can capture the full economic profit from a single credit card payment",
    "gold": "[Cause] operating as a closed loop network [Relation] enable [Effect] American Express can capture the full economic profit from a single credit card payment",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "On the expense side, we anticipate that ICE will enjoy expanding margins as revenue increases and costs remain mostly fixed.",
    "output": "[Cause] revenue increases and costs remain mostly fixed [Relation] cause [Effect] ICE will enjoy expanding margins",
    "gold": "[Cause] revenue increases and costs remain mostly fixed [Relation] cause [Effect]  ICE will enjoy expanding margins",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We believe it will take this long as the company's capital expenditures will remain elevated--averaging 5% of net revenue through our 10-year forecast period and reaching 3% by 2030, as Aphria expands operations to meet our volume forecast.",
    "output": "[Cause] Aphria expands operations to meet our volume forecast [Relation] cause [Effect] it will take this long as the company's capital expenditures will remain elevated--averaging 5% of net revenue through our 10-year forecast period and reaching 3% by 2030",
    "gold": "[Cause]  Aphria expands operations to meet our volume forecast [Relation] cause [Effect]  it will take this long as the company's capital expenditures will remain elevated--averaging 5% of net revenue through our 10-year forecast period and reaching 3% by 2030",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The COVID-19 pandemic injects near-term volatility as American shoppers turn homeward, with Kroger hiring and raising wages as sales surge.",
    "output": "[Cause] The COVID-19 pandemic [Relation] cause [Effect] near-term volatility",
    "gold": "[Cause] American shoppers turn homeward [Relation] cause [Effect] The COVID-19 pandemic injects near-term volatility",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "The COVID-19 pandemic injects near-term volatility as American shoppers turn homeward, with Kroger hiring and raising wages as sales surge.",
    "output": "[Cause] American shoppers turn homeward [Relation] cause [Effect] The COVID-19 pandemic injects near-term volatility",
    "gold": "[Cause]  sales surge [Relation] cause [Effect]  Kroger hiring and raising wages",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We expect Paycom to report an average GAAP gross margin of 69% over the next five years, and this figure should grow to the mid- to high-70s both on a GAAP and non-GAAP basis as the business scales up.",
    "output": "[Cause] the business scales up [Relation] cause [Effect] Paycom to report an average GAAP gross margin of 69% over the next five years, and this figure should grow to the mid- to high-70s both on a GAAP and non-GAAP basis",
    "gold": "[Cause] business scales up. [Relation] cause [Effect] grow to the mid- to high-70s both on a GAAP and non-GAAP basis",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Lam has capitalized on an expanded serviceable market attributed to recent technology inflections related to vertical scaling (3D NAND and fin field-effect transistors) that rely heavily on advanced etch and deposition tools.",
    "output": "[Cause] recent technology inflections related to vertical scaling (3D NAND and fin field-effect transistors) that rely heavily on advanced etch and deposition tools [Relation] cause [Effect] Lam has capitalized on an expanded serviceable market",
    "gold": "[Cause] Lam has capitalized on an expanded serviceable market [Relation] cause [Effect] recent technology inflections related to vertical scaling (3D NAND and fin field-effect transistors) that rely heavily on advanced etch and deposition tools",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "All the while, prices of IGBTs and MOSFETs can be as low as a few cents, so any upstart or challenger would struggle to undercut Infineon on price while still generating an adequate return on investment.",
    "output": "[Cause] prices of IGBTs and MOSFETs can be as low as a few cents [Relation] cause [Effect] any upstart or challenger would struggle to undercut Infineon on price while still generating an adequate return on investment",
    "gold": "[Cause] prices of IGBTs and MOSFETs can be as low as a few cents [Relation] cause [Effect] any upstart or challenger would struggle to undercut Infineon on price while still generating an adequate return on investment",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Our uncertainty rating also considers the increasing complexity of enterprise IT and the risks of falling behind in such capabilities, as well as perception risk that could cause distrust in the company's offerings, brought upon by a security compromising event, which is not uncommon in the industry.",
    "output": "[Cause] a security compromising event [Relation] cause [Effect] distrust in the company's offerings",
    "gold": "[Cause] increasing complexity of enterprise IT and the risks of falling behind in such capabilities, as well as perception risk that could cause distrust in the company's offerings [Relation] cause [Effect] uncertainty rating",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Steep switching costs result from incremental engineering costs, preproduction validation, and purchasing or physically moving literally tons of operational equipment.",
    "output": "[Cause] incremental engineering costs, preproduction validation, and purchasing or physically moving literally tons of operational equipment [Relation] cause [Effect] Steep switching costs",
    "gold": "[Cause]  incremental engineering costs, preproduction validation, and purchasing or physically moving literally tons of operational equipment [Relation] cause [Effect] Steep switching costs",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In these industries, Qorvo appears to be profiting from longer product life cycles and steadier pricing due to fewer volume discounts.",
    "output": "[Cause] fewer volume discounts [Relation] cause [Effect] Qorvo appears to be profiting from longer product life cycles and steadier pricing",
    "gold": "[Cause] longer product life cycles and steadier pricing [Relation] cause [Effect] profiting",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Also, once a drug's key patents expire, generic manufacturers often try to mimic the same production methods as the branded manufacturer to reduce product variability, and that adoption by generic manufacturers can create an even longer benefit period for Waters on a specific molecule.",
    "output": "[Cause] a drug's key patents expire [Relation] cause [Effect] generic manufacturers often try to mimic the same production methods as the branded manufacturer to reduce product variability",
    "gold": "[Cause] a drug's key patents expire [Relation] cause [Effect] generic manufacturers often try to mimic the same production methods as the branded manufacturer to reduce product variability",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "According to the company, some retail partners also experience positive spillover effect on their retail store performance, as they can be less risk-averse with stock purchases.",
    "output": "[Cause] they can be less risk-averse with stock purchases [Relation] cause [Effect] some retail partners also experience positive spillover effect on their retail store performance",
    "gold": "[Cause]  they can be less risk-averse with stock purchases [Relation] cause [Effect] some retail partners also experience positive spillover effect on their retail store performance",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Hyperscale customers create margin drag with their scale, but we expect growth in enterprise and service provider markets to keep margins in line.",
    "output": "[Cause] Hyperscale customers create margin drag with their scale [Relation] cause [Effect] growth in enterprise and service provider markets to keep margins in line",
    "gold": "[Cause] Hyperscale customers [Relation] cause [Effect]  margin drag with their scale",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We assign Pinterest a very high uncertainty rating given fierce competition in the rapidly changing e-commerce and social media landscape.",
    "output": "[Cause] fierce competition in the rapidly changing e-commerce and social media landscape [Relation] cause [Effect] We assign Pinterest a very high uncertainty rating",
    "gold": "[Cause] fierce competition in the rapidly changing e-commerce and social media landscape [Relation] enable [Effect] We assign Pinterest a very high uncertainty rating",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We saw EDU's margin improvement in fiscal first-quarter 2021, given that we expect no more discounts will be provided to the students as China restore their normal business practice post-COVID-19.",
    "output": "[Cause] China restore their normal business practice post-COVID-19 [Relation] cause [Effect] no more discounts will be provided to the students",
    "gold": "[Cause] we expect no more discounts will be provided to the students [Relation] enable [Effect] EDU's margin improvement in fiscal first-quarter 2021",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "BlackRock closed out the September quarter of 2020 with a record $7.808 trillion in managed assets, up 6.7% (12.1%) sequentially (year over year), with organic growth, market gains and favorable currency exchange all adding to the improvement in assets under management.",
    "output": "[Cause] organic growth, market gains and favorable currency exchange [Relation] enable [Effect] the improvement in assets under management",
    "gold": "[Cause] BlackRock closed out the September quarter of 2020 with a record $7.808 trillion in managed assets, up 6.7% (12.1%) sequentially (year over year) [Relation] cause [Effect]  market gains and favorable currency exchange all adding to the improvement in assets under management",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Overall, we expect to revenue to grow on average about 5% annually for the next five years as Vivendi benefits from increased streaming music usage and international penetration at Canal+.",
    "output": "[Cause] Vivendi benefits from increased streaming music usage and international penetration at Canal+ [Relation] cause [Effect] revenue to grow on average about 5% annually for the next five years",
    "gold": "[Cause]  the next five years as Vivendi benefits from increased streaming music usage and international penetration at Canal+ [Relation] cause [Effect] we expect to revenue to grow on average about 5% annually",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Emerging opportunities involving artificial intelligence, 5G, semi- and fully autonomous vehicles, and the broader \"\"\"\"Internet of Things\"\"\"\" collectively give us confidence in sustained semiconductor demand, especially as these broader end markets have more varied performance, efficiency, and connectivity requirements.",
    "output": "[Cause] Emerging opportunities involving artificial intelligence, 5G, semi- and fully autonomous vehicles, and the broader \"\"\"\"Internet of Things\"\"\"\" collectively [Relation] enable [Effect] give us confidence in sustained semiconductor demand",
    "gold": "[Cause]  these broader end markets have more varied performance, efficiency, and connectivity requirements [Relation] cause [Effect] Emerging opportunities involving artificial intelligence, 5G, semi- and fully autonomous vehicles, and the broader \"\"\"\"Internet of Things\"\"\"\" collectively give us confidence in sustained semiconductor demand",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Brand Intangible Assets: Potentially offsetting the challenge of generating economic profit from regulation intangibles, we think that the creation of brand intangibles would help cannabis companies pass the increased cost to consumers, thus protecting their own economic profit.",
    "output": "[Cause] the creation of brand intangibles [Relation] enable [Effect] cannabis companies pass the increased cost to consumers",
    "gold": "[Cause] help cannabis companies pass the increased cost to consumers [Relation] enable [Effect] protecting their own economic profit",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "During periods of rapid fuel price increases, truckers often see temporary margin headwinds, given the time lag in adjusting fuel surcharges to shippers.",
    "output": "[Cause] the time lag in adjusting fuel surcharges to shippers [Relation] cause [Effect] truckers often see temporary margin headwinds",
    "gold": "[Cause] the time lag in adjusting fuel surcharges to shippers [Relation] cause [Effect] truckers often see temporary margin headwinds",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "With its hand in so many different businesses, many of which are unrelated to its core business, the firm has been unable to focus its resources on its most profitable segments.",
    "output": "[Cause] its hand in so many different businesses, many of which are unrelated to its core business [Relation] cause [Effect] the firm has been unable to focus its resources on its most profitable segments",
    "gold": "[Cause] its hand in so many different businesses, many of which are unrelated to its core business [Relation] cause [Effect]  the firm has been unable to focus its resources on its most profitable segments",
    "valid": true,
    "tag": "em"
  },
  {
    "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. Thus, the firm must maintain a large R&D budget throughout business cycles to keep up with the latest trends in chip manufacturing, which could be challenging during cyclical downturns.",
    "output": "[Cause] 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 [Relation] cause [Effect] the firm must maintain a large R&D budget throughout business cycles to keep up with the latest trends in chip manufacturing, which could be challenging during cyclical downturns",
    "gold": "[Cause] 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 [Relation] cause [Effect]  the firm must maintain a large R&D budget throughout business cycles to keep up with the latest trends in chip manufacturing, which could be challenging during cyclical downturns",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Developing underground channels for cables is costly and complicated, as new lines may affect entire neighborhoods, traffic flows, or coincide with other underground infrastructure, so the rationale for duplicating capacities is low.",
    "output": "[Cause] new lines may affect entire neighborhoods, traffic flows, or coincide with other underground infrastructure [Relation] cause [Effect] Developing underground channels for cables is costly and complicated",
    "gold": "[Cause] new lines may affect entire neighborhoods, traffic flows, or coincide with other underground infrastructure [Relation] cause [Effect] Developing underground channels for cables is costly and complicated",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Developing underground channels for cables is costly and complicated, as new lines may affect entire neighborhoods, traffic flows, or coincide with other underground infrastructure, so the rationale for duplicating capacities is low.",
    "output": "[Cause] new lines may affect entire neighborhoods, traffic flows, or coincide with other underground infrastructure [Relation] cause [Effect] the rationale for duplicating capacities is low",
    "gold": "[Cause] Developing underground channels for cables is costly and complicated [Relation] cause [Effect] the rationale for duplicating capacities is low",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Also, foreign exchange exposure could prove unpredictable as the firm grows internationally, making sales uncertain, although some of this should have subsided with the exit of the Mexico business.",
    "output": "[Cause] foreign exchange exposure could prove unpredictable as the firm grows internationally [Relation] cause [Effect] sales uncertain",
    "gold": "[Cause]  the firm grows internationally, making sales uncertain [Relation] cause [Effect] foreign exchange exposure could prove unpredictable",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Nonetheless, losses from imported gas will remain in the absence of full market-driven gas pricing reform in the near term.",
    "output": "[Cause] the absence of full market-driven gas pricing reform in the near term [Relation] cause [Effect] losses from imported gas will remain",
    "gold": "[Cause] the absence of full market-driven gas pricing reform in the near term [Relation] cause [Effect] losses from imported gas will remain",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We believe that over the medium term, COVID-19 has pulled forward some demand by changing consumer behavior and better penetrating some retail categories, such as groceries, pharmacy, and luxury goods, that previously had not gained as much traction online.",
    "output": "[Cause] changing consumer behavior and better penetrating some retail categories [Relation] enable [Effect] COVID-19 has pulled forward some demand",
    "gold": "[Cause] previously had not gained as much traction online [Relation] prevent [Effect] OVID-19 has pulled forward some demand by changing consumer behavior and better penetrating some retail categories, such as groceries, pharmacy, and luxury goods",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "As demand growth outpaces new supply and sops up excess supply in the market, we see prices rising throughout 2021 and into 2022.",
    "output": "[Cause] demand growth outpaces new supply and sops up excess supply in the market [Relation] cause [Effect] prices rising throughout 2021 and into 2022",
    "gold": "[Cause] demand growth outpaces new supply and sops up excess supply in the market [Relation] cause [Effect] prices rising throughout 2021 and into 2022",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Graco's relentless cost control and commitment to lean manufacturing allow it to leverage shared components across different product lines to operate its plants efficiently and lower the overall cost of its products.",
    "output": "[Cause] Graco's relentless cost control and commitment to lean manufacturing [Relation] enable [Effect] leverage shared components across different product lines to operate its plants efficiently and lower the overall cost of its products",
    "gold": "[Cause] Graco's relentless cost control and commitment to lean manufacturing [Relation] enable [Effect]  leverage shared components across different product lines to operate its plants efficiently and lower the overall cost of its products",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The COVID-19 pandemic forced the temporary closure of Tapestry's stores and continues to affect consumer spending on accessories and apparel.",
    "output": "[Cause] The COVID-19 pandemic [Relation] cause [Effect] the temporary closure of Tapestry's stores",
    "gold": "[Cause] The COVID-19 pandemic [Relation] cause [Effect] the temporary closure of Tapestry's stores",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The COVID-19 pandemic forced the temporary closure of Tapestry's stores and continues to affect consumer spending on accessories and apparel.",
    "output": "[Cause] The COVID-19 pandemic [Relation] cause [Effect] the temporary closure of Tapestry's stores",
    "gold": "[Cause] The COVID-19 pandemic [Relation] cause [Effect] affect consumer spending on accessories and apparel",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Robust ROICs should be supported not only by a stockpile of ideas for movie tie-ins that will provide free product advertising for Hasbro's goods but also by brand enthusiasts, leading to average adjusted ROICs including goodwill of 14% through 2025.",
    "output": "[Cause] Robust ROICs should be supported not only by a stockpile of ideas for movie tie-ins that will provide free product advertising for Hasbro's goods but also by brand enthusiasts [Relation] cause [Effect] average adjusted ROICs including goodwill of 14% through 2025",
    "gold": "[Cause] Robust ROICs should be supported not only by a stockpile of ideas for movie tie-ins that will provide free product advertising for Hasbro's goods but also by brand enthusiasts [Relation] cause [Effect] average adjusted ROICs including goodwill of 14% through 2025",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Reddy extended its reach into Europe through the 2006 acquisition of Betapharm, a German generic manufacturer, for about $570 million.",
    "output": "[Cause] the 2006 acquisition of Betapharm [Relation] enable [Effect] Reddy extended its reach into Europe",
    "gold": "[Cause] the 2006 acquisition of Betapharm [Relation] enable [Effect] Reddy extended its reach into Europe",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We see operating margins approaching 50% by 2030, as several of the most advanced programs at Ionis are partnered and are likely to translate into higher-margin cash flows from milestones and royalty-based payments.",
    "output": "[Cause] several of the most advanced programs at Ionis are partnered and are likely to translate into higher-margin cash flows from milestones and royalty-based payments [Relation] cause [Effect] operating margins approaching 50% by 2030",
    "gold": "[Cause] several of the most advanced programs at Ionis are partnered and are likely to translate into higher-margin cash flows from milestones and royalty-based payments [Relation] cause [Effect] operating margins approaching 50% by 2030",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "However, given a high tax burden in Norway, Equinor has historically failed to match the upstream earnings margins or returns on capital of its higher-quality peers.",
    "output": "[Cause] a high tax burden in Norway [Relation] cause [Effect] Equinor has historically failed to match the upstream earnings margins or returns on capital of its higher-quality peers",
    "gold": "[Cause] a high tax burden in Norway [Relation] cause [Effect] Equinor has historically failed to match the upstream earnings margins or returns on capital of its higher-quality peers",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Reliability can be a competitive advantage for vendors with a record of timely delivery and consistent quality (such as Danone), as this reduces retailers' supply chain risk.",
    "output": "[Cause] Reliability can be a competitive advantage for vendors with a record of timely delivery and consistent quality [Relation] enable [Effect] reduces retailers' supply chain risk",
    "gold": "[Cause] reduces retailers' supply chain risk [Relation] cause [Effect] Reliability can be a competitive advantage for vendors",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Although it's disproportionately exposed to the beleaguered soda category, we believe innovation will continue to resonate, owing to a core consumer gleaning a higher marginal benefit from consumption, affording continued pricing tailwinds.",
    "output": "[Cause] a core consumer gleaning a higher marginal benefit from consumption, affording continued pricing tailwinds [Relation] cause [Effect] innovation will continue to resonate",
    "gold": "[Cause]  a core consumer gleaning a higher marginal benefit from consumption [Relation] enable [Effect] affording continued pricing tailwinds",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "If the acreage is never developed or produces relatively little, Williams' fees and returns are correspondingly lower, and these contracts form the lion's share of the impairments the entities have taken over the past few years.",
    "output": "[Cause] the acreage is never developed or produces relatively little [Relation] cause [Effect] Williams' fees and returns are correspondingly lower",
    "gold": "[Cause]  the acreage is never developed or produces relatively little, Williams' fees and returns are correspondingly lower [Relation] cause [Effect]  these contracts form the lion's share of the impairments the entities have taken over the past few years",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "With more consistent cash flow generation thanks to its stronger product pipeline in recent years, we think medium uncertainty is appropriate for Boston.",
    "output": "[Cause] more consistent cash flow generation [Relation] cause [Effect] more consistent cash flow generation",
    "gold": "[Cause] stronger product pipeline [Relation] enable [Effect] more consistent cash flow generation",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "With more consistent cash flow generation thanks to its stronger product pipeline in recent years, we think medium uncertainty is appropriate for Boston.",
    "output": "[Cause] more consistent cash flow generation [Relation] cause [Effect] medium uncertainty is appropriate for Boston",
    "gold": "[Cause] more consistent cash flow generation [Relation] cause [Effect] medium uncertainty is appropriate for Boston",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "With a heavily franchised system, Yum's revenue is closely tied to systemwide sales growth, which we model increasing at a 7.5% annual clip through 2025 (slightly higher than management's long-term guidance of 7% as we layer in a sharp recovery in 2021).",
    "output": "[Cause] a heavily franchised system [Relation] cause [Effect] Yum's revenue is closely tied to systemwide sales growth",
    "gold": "[Cause] With a heavily franchised system, Yum's revenue is closely tied to systemwide sales growth [Relation] cause [Effect]  we model increasing at a 7.5% annual clip through 2025 (slightly higher than management's long-term guidance of 7% as we layer in a sharp recovery in 2021)",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Delta has historically captured a premium yield relative to peers, due to its focus on business travel and premium products and has received the highest yield among legacy airlines for the past nine years.",
    "output": "[Cause] its focus on business travel and premium products and has received the highest yield among legacy airlines for the past nine years [Relation] cause [Effect] Delta has historically captured a premium yield relative to peers",
    "gold": "[Cause] its focus on business travel and premium products and has received the highest yield among legacy airlines for the past nine years [Relation] cause [Effect] Delta has historically captured a premium yield relative to peers",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "With the company's acquisition of Ellie Mae in 2020, Intercontinental Exchange is now a major provider of mortgage technology.",
    "output": "[Cause] the company's acquisition of Ellie Mae in 2020 [Relation] cause [Effect] Intercontinental Exchange is now a major provider of mortgage technology",
    "gold": "[Cause]  the company's acquisition of Ellie Mae in 2020 [Relation] enable [Effect] Intercontinental Exchange is now a major provider of mortgage technology",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Our fair value adjustment is largely driven by slightly more optimistic midcycle operating margin assumptions, as we believe that Fluor's lower fixed-price exposure will lead to more stable margins and cash flows.",
    "output": "[Cause] slightly more optimistic midcycle operating margin assumptions [Relation] cause [Effect] Our fair value adjustment",
    "gold": "[Cause] Fluor's lower fixed-price exposure will lead to more stable margins and cash flows [Relation] cause [Effect] fair value adjustment is largely driven by slightly more optimistic midcycle operating margin assumptions",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Our fair value adjustment is largely driven by slightly more optimistic midcycle operating margin assumptions, as we believe that Fluor's lower fixed-price exposure will lead to more stable margins and cash flows.",
    "output": "[Cause] Fluor's lower fixed-price exposure [Relation] cause [Effect] more stable margins and cash flows",
    "gold": "[Cause]  Fluor's lower fixed-price exposure [Relation] cause [Effect] more stable margins and cash flows",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Although COVID-19 and the discontinuation of the C9 label at Target has hurt Champion's sales in 2020, we believe it will continue its growth path in 2021 as it and other activewear apparel have become more than just athletic apparel and are increasingly worn as lifestyle/fashion brands.",
    "output": "[Cause] it and other activewear apparel have become more than just athletic apparel and are increasingly worn as lifestyle/fashion brands [Relation] cause [Effect] it will continue its growth path in 2021",
    "gold": "[Cause]  it and other activewear apparel have become more than just athletic apparel and are increasingly worn as lifestyle/fashion brands [Relation] enable [Effect] it will continue its growth path in 2021",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Management was slowly approaching its 4.0 debt/EBITDA leverage target, with improvement in fiscal 2019, but pandemic headwinds in 2020 slowed progress.",
    "output": "[Cause] pandemic headwinds in 2020 [Relation] prevent [Effect] progress",
    "gold": "[Cause] Management was slowly approaching its 4.0 debt/EBITDA leverage target, with improvement in fiscal 2019, [Relation] cause [Effect] but pandemic headwinds in 2020 slowed progress.",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "As such, any product failures could lead to costly business disruptions, environmental hazards, safety risks, or even loss of life.",
    "output": "[Cause] any product failures [Relation] cause [Effect] costly business disruptions, environmental hazards, safety risks, or even loss of life",
    "gold": "[Cause] any product failures [Relation] cause [Effect] costly business disruptions, environmental hazards, safety risks, or even loss of life",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We expect the decline of the television business will continue at a steady pace over the next five years, weighing on revenue growth.",
    "output": "[Cause] the decline of the television business will continue at a steady pace over the next five years [Relation] prevent [Effect] revenue growth",
    "gold": "[Cause] the decline of the television business will continue at a steady pace over the next five years [Relation] prevent [Effect] revenue growth",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "However, in areas like Germany, France, and the United Kingdom, new-car demand is somewhat buoyed by many employers' commonplace practice of providing employees with a company car.",
    "output": "[Cause] many employers' commonplace practice of providing employees with a company car [Relation] cause [Effect] new-car demand is somewhat buoyed",
    "gold": "[Cause] many employers' commonplace practice of providing employees with a company car [Relation] cause [Effect] new-car demand is somewhat buoyed",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "As Workday's core addressable market continues to expand and Workday finds adoption of its new products to be strong, the company is poised for continued robust top-line growth, in our view, and strengthening switching costs.",
    "output": "[Cause] Workday's core addressable market continues to expand and Workday finds adoption of its new products to be strong [Relation] enable [Effect] the company is poised for continued robust top-line growth",
    "gold": "[Cause]  adoption of its new products to be strong [Relation] enable [Effect] Workday's core addressable market continues to expand",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Beyond the pandemic, we assume steady but slowing low-single-digit growth in global revenue passenger kilometers, largely driven by GDP growth in emerging markets.",
    "output": "[Cause] GDP growth in emerging markets [Relation] cause [Effect] steady but slowing low-single-digit growth in global revenue passenger kilometers",
    "gold": "[Cause] GDP growth in emerging markets [Relation] cause [Effect] steady but slowing low-single-digit growth in global revenue passenger kilometers",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Given a high share of generation from hydroelectric power plants, the company is also dependent on river flow levels.",
    "output": "[Cause] a high share of generation from hydroelectric power plants [Relation] cause [Effect] the company is also dependent on river flow levels",
    "gold": "[Cause]  a high share of generation from hydroelectric power plants [Relation] cause [Effect] the company is also dependent on river flow levels",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The law of large numbers is unfavorable for the large consumer companies, and moving the needle on Unilever's EUR 50 billion top line in a low-growth environment is challenging, especially as growth is largely being driven by niche, local, and artisanal brands.",
    "output": "[Cause] growth is largely being driven by niche, local, and artisanal brands [Relation] cause [Effect] moving the needle on Unilever's EUR 50 billion top line in a low-growth environment is challenging",
    "gold": "[Cause] growth is largely being driven by niche, local, and artisanal brands [Relation] enable [Effect] moving the needle on Unilever's EUR 50 billion top line in a low-growth environment is challenging",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Despite current operational issues stemming from Trent 1000 service engine issues and the impact of COVID-19 on air travel demand, we believe the group can return to and sustain economic profits over the following 10-year period, and potentially beyond.",
    "output": "[Cause] Trent 1000 service engine issues and the impact of COVID-19 on air travel demand [Relation] cause [Effect] the group can return to and sustain economic profits over the following 10-year period, and potentially beyond",
    "gold": "[Cause] Trent 1000 service engine issues and the impact of COVID-19 on air travel demand [Relation] cause [Effect] current operational issues",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "With baby boomers hitting Medicare age, there could be future cuts to Medicare reimbursement for device-related procedures, which would translate into financial pressure for its hospital customers.",
    "output": "[Cause] baby boomers hitting Medicare age [Relation] cause [Effect] future cuts to Medicare reimbursement for device-related procedures",
    "gold": "[Cause] baby boomers hitting Medicare age [Relation] cause [Effect] future cuts to Medicare reimbursement for device-related procedures",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "With baby boomers hitting Medicare age, there could be future cuts to Medicare reimbursement for device-related procedures, which would translate into financial pressure for its hospital customers.",
    "output": "[Cause] future cuts to Medicare reimbursement for device-related procedures [Relation] cause [Effect] translate into financial pressure for its hospital customers",
    "gold": "[Cause] future cuts to Medicare reimbursement for device-related procedures [Relation] cause [Effect] translate into financial pressure for its hospital customers",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Many of Boeing's advantages in this segment, such as an extensive backlog that reduces revenue cyclicality, a large installed product base that generates sustainable aftermarket sales, can be attributed to intangible assets surrounding the regulatory and manufacturing environment for airframes, which constitutes a steep barrier to entry. These barriers to entry have prevented all but two global firms, Airbus and Boeing, from entering the aircraft manufacturing market.",
    "output": "[Cause] Many of Boeing's advantages in this segment, such as an extensive backlog that reduces revenue cyclicality, a large installed product base that generates sustainable aftermarket sales, can be attributed to intangible assets surrounding the regulatory and manufacturing environment for airframes, which constitutes a steep barrier to entry [Relation] prevent [Effect] all but two global firms, Airbus and Boeing, from entering the aircraft manufacturing market",
    "gold": "[Cause] Many of Boeing's advantages in this segment, such as an extensive backlog that reduces revenue cyclicality, a large installed product base that generates sustainable aftermarket sales, can be attributed to intangible assets surrounding the regulatory and manufacturing environment for airframes, which constitutes a steep barrier to entry [Relation] prevent [Effect] all but two global firms, Airbus and Boeing, from entering the aircraft manufacturing market",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The contactor bears the financial risk of cost overruns for these programs, so a poorly executed development would financially strain Northrop.",
    "output": "[Cause] The contactor bears the financial risk of cost overruns for these programs [Relation] cause [Effect] a poorly executed development would financially strain Northrop",
    "gold": "[Cause] The contactor bears the financial risk of cost overruns for these programs [Relation] cause [Effect] a poorly executed development would financially strain Northrop",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Uniformity in the process and machinery to convert pulp into containerboard components results in a flat cost curve regionally, making it hard for anybody to sustain a cost advantage.",
    "output": "[Cause] Uniformity in the process and machinery to convert pulp into containerboard components [Relation] cause [Effect] a flat cost curve regionally",
    "gold": "[Cause] Uniformity in the process and machinery to convert pulp into containerboard components [Relation] cause [Effect] a flat cost curve regionally",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "All of the California utilities face significant public policy and regulatory pressure to upgrade the state's energy infrastructure to accommodate more distributed generation, renewable energy, and electric vehicles.",
    "output": "[Cause] All of the California utilities face significant public policy and regulatory pressure to upgrade the state's energy infrastructure [Relation] enable [Effect] accommodate more distributed generation, renewable energy, and electric vehicles",
    "gold": "[Cause] to accommodate more distributed generation, renewable energy, and electric vehicles [Relation] cause [Effect] All of the California utilities face significant public policy and regulatory pressure to upgrade the state's energy infrastructure",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "S&L performance is expected to decline in 2020 and 2021, as the temporary boost from 2020 storage differentials will disappear.",
    "output": "[Cause] the temporary boost from 2020 storage differentials will disappear [Relation] cause [Effect] S&L performance is expected to decline in 2020 and 2021",
    "gold": "[Cause] the temporary boost from 2020 storage differentials will disappear [Relation] cause [Effect] S&L performance is expected to decline in 2020 and 2021",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "While higher pricing is necessary to some extent to offset lower interest rates and a rise in social inflation, pricing increases appear to be more than offsetting these factors. As a result, Chubb and peers are experiencing a positive trend in underlying underwriting profitability, and we see potential for a truly hard pricing market, similar to the period that followed 9/11.",
    "output": "[Cause] While higher pricing is necessary to some extent to offset lower interest rates and a rise in social inflation, pricing increases appear to be more than offsetting these factors [Relation] cause [Effect] Chubb and peers are experiencing a positive trend in underlying underwriting profitability, and we see potential for a truly hard pricing market, similar to the period that followed 9/11",
    "gold": "[Cause] While higher pricing is necessary to some extent to offset lower interest rates and a rise in social inflation, pricing increases appear to be more than offsetting these factors [Relation] cause [Effect] Chubb and peers are experiencing a positive trend in underlying underwriting profitability, and we see potential for a truly hard pricing market, similar to the period that followed 9/11",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "As Beyond Meat is still in the early investment stage of the business, the firm did not report an adjusted profit or a positive ROIC until 2019.",
    "output": "[Cause] Beyond Meat is still in the early investment stage of the business [Relation] cause [Effect] the firm did not report an adjusted profit or a positive ROIC until 2019",
    "gold": "[Cause]  Beyond Meat is still in the early investment stage of the business [Relation] cause [Effect] the firm did not report an adjusted profit or a positive ROIC until 2019",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We think Praluent can achieve sales of more than $500 million, and sales acceleration should follow recent price negotiations and the addition of cardiovascular outcomes data to the label in 2019.",
    "output": "[Cause] recent price negotiations and the addition of cardiovascular outcomes data to the label in 2019 [Relation] enable [Effect] Praluent can achieve sales of more than $500 million",
    "gold": "[Cause] recent price negotiations and the addition of cardiovascular outcomes data to the label in 2019 [Relation] enable [Effect] sales acceleration",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "Valvoline should be able to leverage its innovation and brand-building investments outside the North American market, with its growing international unit (about 20% of fiscal 2020 sales) adding to its standing.",
    "output": "[Cause] its growing international unit (about 20% of fiscal 2020 sales) adding to its standing [Relation] enable [Effect] Valvoline should be able to leverage its innovation and brand-building investments outside the North American market",
    "gold": "[Cause] its innovation and brand-building investments outside the North American market, with its growing international unit [Relation] enable [Effect] adding to its standing",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "However, Qorvo's RF prospects might not be rosy forever, given intense competition in RF chips and a customer base of only a handful of tech titans that could put pricing pressure on Qorvo and other RF chipmakers.",
    "output": "[Cause] intense competition in RF chips and a customer base of only a handful of tech titans that could put pricing pressure on Qorvo and other RF chipmakers [Relation] cause [Effect] Qorvo's RF prospects might not be rosy forever",
    "gold": "[Cause]  given intense competition in RF chips and a customer base of only a handful of tech titans [Relation] prevent [Effect] Qorvo's RF prospects might not be rosy forever",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "In the United States, we believe Walmart benefits from a well-established brand that has become virtually synonymous with low-cost items, a product of its unparalleled purchasing leverage and deep vendor relationships.",
    "output": "[Cause] a well-established brand that has become virtually synonymous with low-cost items, a product of its unparalleled purchasing leverage and deep vendor relationships [Relation] enable [Effect] Walmart benefits",
    "gold": "[Cause] a product of its unparalleled purchasing leverage and deep vendor relationships [Relation] enable [Effect] has become virtually synonymous with low-cost items",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "The company also benefits from switching costs in its catalyst business, where refiners and petrochemical producers tend to stick with existing catalysts tailored to their facilities in order to maximize product yields.",
    "output": "[Cause] refiners and petrochemical producers tend to stick with existing catalysts tailored to their facilities [Relation] enable [Effect] maximize product yields",
    "gold": "[Cause] refiners and petrochemical producers tend to stick with existing catalysts tailored to their facilities [Relation] enable [Effect] maximize product yields",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "With more paid and unpaid users, we believe Match Group could attract more ad dollars, given the growing number of young and millennial users.",
    "output": "[Cause] more paid and unpaid users [Relation] cause [Effect] Match Group could attract more ad dollars",
    "gold": "[Cause] more paid and unpaid users [Relation] enable [Effect] Match Group could attract more ad dollars",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "With more paid and unpaid users, we believe Match Group could attract more ad dollars, given the growing number of young and millennial users.",
    "output": "[Cause] the growing number of young and millennial users [Relation] cause [Effect] Match Group could attract more ad dollars",
    "gold": "[Cause]  the growing number of young and millennial users [Relation] cause [Effect] Match Group could attract more ad dollars",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The vaccine's excellent efficacy, strong supply, and early leadership on the market all support nearly $14 billion in 2021 Comirnaty sales and $2 billion in 2022 sales (and roughly 50% of gross profits flowing to BioNTech).",
    "output": "[Cause] The vaccine's excellent efficacy, strong supply, and early leadership on the market [Relation] enable [Effect] nearly $14 billion in 2021 Comirnaty sales and $2 billion in 2022 sales (and roughly 50% of gross profits flowing to BioNTech)",
    "gold": "[Cause] The vaccine's excellent efficacy, strong supply, and early leadership on the market [Relation] cause [Effect] nearly $14 billion in 2021 Comirnaty sales and $2 billion in 2022 sales (and roughly 50% of gross profits flowing to BioNTech)",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In our view, better operating performance can be realized through HPE expanding its gross margins, and we expect HPE's restructuring, consolidation, and cost-saving efforts to enable lower product costs while gaining some SG&A and R&D efficiencies.",
    "output": "[Cause] HPE's restructuring, consolidation, and cost-saving efforts [Relation] enable [Effect] lower product costs while gaining some SG&A and R&D efficiencies",
    "gold": "[Cause]  HPE's restructuring, consolidation, and cost-saving efforts [Relation] enable [Effect]  lower product costs while gaining some SG&A and R&D efficiencies",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We believe that exposure to a wider audience offsets the negative impact of increased competition, as more stores/brands join the network.",
    "output": "[Cause] more stores/brands join the network [Relation] cause [Effect] exposure to a wider audience offsets the negative impact of increased competition",
    "gold": "[Cause] more stores/brands join the network [Relation] enable [Effect] exposure to a wider audience offsets the negative impact of increased competition",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Despite the free filing option, only about 3% of taxpayers use Intuit's or H&R Block's free filing options--signaling that there's room to grow with pressure to add on features to the free filing offerings.",
    "output": "[Cause] pressure to add on features to the free filing offerings [Relation] cause [Effect] there's room to grow",
    "gold": "[Cause] Despite the free filing option, only about 3% of taxpayers use Intuit's or H&R Block's free filing options [Relation] cause [Effect]  there's room to grow with pressure to add on features to the free filing offerings",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "New reimbursement models inspired by healthcare reform should lead more doctors and hospitals to send tests to lower-cost producers like LabCorp.",
    "output": "[Cause] New reimbursement models inspired by healthcare reform [Relation] enable [Effect] more doctors and hospitals to send tests to lower-cost producers like LabCorp",
    "gold": "[Cause] New reimbursement models inspired by healthcare reform [Relation] enable [Effect]  more doctors and hospitals to send tests to lower-cost producers like LabCorp",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "And our 2020-29 IT solutions (IT for airlines) sales forecast is derived from increasing airline revenue per passenger boarded (to $1.28 in 2029 from $1.13 in 2019) as customers adopt new and existing products and by passenger boarding growth over the IT platform.",
    "output": "[Cause] increasing airline revenue per passenger boarded (to $1.28 in 2029 from $1.13 in 2019) as customers adopt new and existing products and by passenger boarding growth over the IT platform [Relation] cause [Effect] 2020-29 IT solutions (IT for airlines) sales forecast",
    "gold": "[Cause]  customers adopt new and existing products and by passenger boarding growth over the IT platform [Relation] cause [Effect]  increasing airline revenue per passenger boarded",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "No matter the application, sensor failure can often lead to system failure, which would cause both financial cost and reputational damage for the OEM or Tier 1 supplier in question.",
    "output": "[Cause] sensor failure [Relation] cause [Effect] system failure",
    "gold": "[Cause] sensor failure [Relation] cause [Effect]  system failure",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "No matter the application, sensor failure can often lead to system failure, which would cause both financial cost and reputational damage for the OEM or Tier 1 supplier in question.",
    "output": "[Cause] sensor failure [Relation] cause [Effect] both financial cost and reputational damage for the OEM or Tier 1 supplier in question",
    "gold": "[Cause]  system failure [Relation] cause [Effect] both financial cost and reputational damage for the OEM or Tier 1 supplier in question",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "It has been improving its technology such as an AI-assisted chat box function to reduce staff costs and boost efficiency, which will help boost margin.",
    "output": "[Cause] an AI-assisted chat box function [Relation] enable [Effect] boost efficiency",
    "gold": "[Cause] It has been improving its technology such as an AI-assisted chat box function [Relation] enable [Effect] help boost margin",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "The main business areas affected by the coronavirus restrictions have been roaming, the business-to-business segment in the Nordic markets and prepaid Asian markets.",
    "output": "[Cause] The main business areas affected by the coronavirus restrictions have been roaming, the business-to-business segment in the Nordic markets and prepaid Asian markets [Relation] cause [Effect] The main business areas affected by the coronavirus restrictions have been roaming",
    "gold": "[Cause] the coronavirus restrictions [Relation] prevent [Effect] roaming, the business-to-business segment in the Nordic markets and prepaid Asian markets",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "In our view, FireEye's services will remain in demand due to its security experts' in-depth research on threats, ability to augment customers' security teams with trained professionals, and the proficiency to fix exposed weaknesses found through network attack simulations.",
    "output": "[Cause] its security experts' in-depth research on threats, ability to augment customers' security teams with trained professionals, and the proficiency to fix exposed weaknesses found through network attack simulations [Relation] cause [Effect] FireEye's services will remain in demand",
    "gold": "[Cause] its security experts' in-depth research on threats, ability to augment customers' security teams with trained professionals, and the proficiency to fix exposed weaknesses found through network attack simulations [Relation] cause [Effect]  FireEye's services will remain in demand",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Our opinion is that HP will gain some printing growth through 3D printing, but HP is playing catch-up against competitors with multi-year head starts.",
    "output": "[Cause] 3D printing [Relation] enable [Effect] HP will gain some printing growth",
    "gold": "[Cause] 3D printing [Relation] enable [Effect] HP will gain some printing growth",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "There are few barriers to entry (vendors simply need to prove their control tests are effective), and test differentiation can be limited.",
    "output": "[Cause] There are few barriers to entry [Relation] cause [Effect] test differentiation can be limited",
    "gold": "[Cause] few barriers to entry (vendors simply need to prove their control tests are effective) [Relation] cause [Effect] test differentiation can be limited",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "However, the company's investor day in October 2020 established a new roadmap to alleviate customer pain points and revamp profitability.",
    "output": "[Cause] the company's investor day in October 2020 established a new roadmap [Relation] enable [Effect] alleviate customer pain points and revamp profitability",
    "gold": "[Cause]  the company's investor day in October 2020 established a new roadmap [Relation] enable [Effect]  alleviate customer pain points and revamp profitability",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "However, now ROE's are under pressure again, as the macro environment generally isn't as favorable and the bank struggles to find profitable growth opportunities.",
    "output": "[Cause] the macro environment generally isn't as favorable and the bank struggles to find profitable growth opportunities [Relation] cause [Effect] ROE's are under pressure again",
    "gold": "[Cause] the macro environment generally isn't as favorable and the bank struggles to find profitable growth opportunities [Relation] cause [Effect] ROE's are under pressure again",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "In looking at the entire company, we project over 10% annual sales growth over the next five years (excluding acquisitions) as new products should offset patent losses.",
    "output": "[Cause] new products should offset patent losses [Relation] cause [Effect] we project over 10% annual sales growth over the next five years (excluding acquisitions)",
    "gold": "[Cause]  new products should offset patent losses [Relation] cause [Effect] we project over 10% annual sales growth over the next five years (excluding acquisitions)",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "Because M&A is an important part of Graco's growth strategy, another key risk is the potential to overpay for acquisitions.",
    "output": "[Cause] M&A is an important part of Graco's growth strategy [Relation] cause [Effect] another key risk is the potential to overpay for acquisitions",
    "gold": "[Cause] M&A is an important part of Graco's growth strategy [Relation] cause [Effect] another key risk is the potential to overpay for acquisitions",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "The government's tariff-reduction measures have negatively affected profit growth over 2017, 2018 and 2019, and following this, the company will be in the investment phase of 5G network and service rollout.",
    "output": "[Cause] The government's tariff-reduction measures have negatively affected profit growth over 2017, 2018 and 2019 [Relation] cause [Effect] the company will be in the investment phase of 5G network and service rollout",
    "gold": "[Cause] The government's tariff-reduction measures [Relation] cause [Effect] negatively affected profit growth over 2017, 2018 and 2019, and following",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "We expect revenue growth pressure in 2020 due to the COVID-19 pandemic, followed by a return to double-digit revenue growth in 2021-24, helped by greater revenue contribution from YouTube and cloud.",
    "output": "[Cause] the COVID-19 pandemic [Relation] cause [Effect] revenue growth pressure in 2020",
    "gold": "[Cause] greater revenue contribution from YouTube and cloud [Relation] cause [Effect]  return to double-digit revenue growth",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "While this number suggests an overall 60% global retention rate, we believe this number is impacted by China, where retention rates for service are lower.",
    "output": "[Cause] China [Relation] cause [Effect] retention rates for service are lower",
    "gold": "[Cause] retention rates for service are lower [Relation] cause [Effect] retention rates for service are lower",
    "valid": false,
    "tag": "nonsubstr"
  },
  {
    "input": "In academic and professional learning (36% of fiscal 2020 revenue), we see continued but moderating declines in publishing (temporarily exacerbated by the COVID-19 outbreak forcing some classes online) offsetting growth in courseware, corporate learning, test preparation, and other more advantaged businesses.",
    "output": "[Cause] the COVID-19 outbreak forcing some classes online [Relation] cause [Effect] continued but moderating declines in publishing",
    "gold": "[Cause] the COVID-19 outbreak forcing some classes online [Relation] cause [Effect] continued but moderating declines in publishing",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "We expect the automotive segment carries less risk, as hard-pressed motorists delay new vehicle purchases and instead look to keep their current cars and trucks running.",
    "output": "[Cause] hard-pressed motorists delay new vehicle purchases and instead look to keep their current cars and trucks running [Relation] cause [Effect] the automotive segment carries less risk",
    "gold": "[Cause] hard-pressed motorists delay new vehicle purchases and instead look to keep their current cars and trucks running [Relation] cause [Effect] the automotive segment carries less risk",
    "valid": true,
    "tag": "em"
  },
  {
    "input": "While the firm's research and development investment has averaged 0.5% of sales, below the 1% average for packaged food peers, this difference can be explained by Simply Good Foods sharing R&D costs with their co-manufacturing partners, as opposed to suggesting insufficient investment levels.",
    "output": "[Cause] Simply Good Foods sharing R&D costs with their co-manufacturing partners [Relation] cause [Effect] suggesting insufficient investment levels",
    "gold": "[Cause] Simply Good Foods sharing R&D costs with their co-manufacturing partners [Relation] cause [Effect] this difference",
    "valid": false,
    "tag": "nonsubstr"
  }
]
